Funding you earn now, next payment 22:00 UTC+0.0179%/8h= +19.6% APRpaid last 24h +0.016%
Price spread now: Hyperliquid against Bybit+0.003%7-day average +0.048% · you sell dearer than you buy
Net, funding: paid 7d − costs−$84as in the Funding arb table
Net, price: spread back to 7d avg − costs−$94as in the Price arb table
costs, in and out, $10k−$900.897% of the position
Funding, last 7 days+0.057%+$6 on $10k
+Price spread, last 7 days+0.091%+$9 · spread now +0.003%, 7d avg +0.048%
=Together, before fees+0.148%+ Points / potential airdropHyperliquid: Season 2 · farm board+$15 on $10k · with fees, hour by hour
Funding pays, the price is against you. Hyperliquid is 0.045% cheaper against Bybit than usual: you would sell low and buy high (spread +0.003% now, against its 7-day average of +0.048%). If the spread goes back, that is −$4 on $10k: about 20 hours of funding at the current rate (+$5 a day). At the pace of the last 7 days (+0.057% in total) that is about 5.5 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit PYTHUSDT | 0.06341 | −0.0079 | get 0.0040% / 4h | 2h 42m | $7.4M | $5.0M | 50x |
| Short | Hyperliquid PYTH | 0.06341 | 0.0100 | get 0.0013% / 1h | 42m 30s | $1.7M | $1.4M | 5x |
Bybit PYTHUSDT
Hyperliquid PYTHFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Bybit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $37.68
- Price spread: +0.003% → +0.048%
- −$4.47
- Slippage, 4 orders
- −$69.74
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$56.53
- Costs to cover
- 0.897%
- Break-even
- 17.5 days
Slippage from Bybit: live order book, 6 min ago; Hyperliquid: live order book, 8 min ago.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Bybit live order book, 6 min ago | 3.15 bp | 25.3 bp −$25 | 87.0 bp −$870 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 8 min ago | 1.26 bp | 17.7 bp −$18 | doesn't fit | doesn't fit | doesn't fit |
PYTH on 23 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective PYTH/USDC PERP | −0.0586% | 1h | 0.06350 | +0.142% | $561 | $180K | 5.5x | as long as short |
| Deribit PYTH_USDC-PERPETUAL | −0.0380% | 1h | 0.06348 | +0.110% | $10K | $10K | 10x | as long as short |
| Kraken Futures PF_PYTHUSD | −0.0216% | 1h | 0.06346 | +0.085% | $384K | $240K | 25x | as long as short |
| Gate PYTH_USDT | −0.0112% | 4h | 0.06333 | −0.126% | $1.1M | $464K | 75x | as long as short |
| Bybit PYTHUSDTlong | −0.0079% | 4h | 0.06341 | long leg | $7.4M | $5.0M | 50x | |
| BloFin PYTH-USDT | −0.0067% | 4h | 0.06344 | +0.047% | $427K | $121K | 75x | as long as short |
| Binance PYTHUSDT | −0.0017% | 4h | 0.06337 | −0.065% | $9.1M | $15.9M | 75x | as long as short |
| MEXC PYTH_USDT | −0.0014% | 4h | 0.06339 | −0.032% | $9.4M | $2.4M | 125x | as long as short |
| dYdX PYTH-USD | 0.0000% | 1h | 0.06347 | +0.095% | $188K | $19 | 5x | as long as short |
| Coinbase International PYTH-PERP-INTX | +0.0048% | 1h | 0.06431 | +1.419% | $40K | $6K | 25x | as long as short |
Injective PYTH/USDC PERP
Deribit PYTH_USDC-PERPETUAL
Kraken Futures PF_PYTHUSD
Gate PYTH_USDT
BloFin PYTH-USDT
Binance PYTHUSDT
MEXC PYTH_USDT
dYdX PYTH-USD
Coinbase International PYTH-PERP-INTXShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aevo PYTH-PERP | +0.0080% | 1h | 0.06340 | −0.016% | $23K | — | 3x | as long as short |
| Lighter PYTH | +0.0096% | 1h | 0.06350 | +0.142% | $197K | $203K | 5x | as long as short |
| Paradex PYTH-USD-PERP | +0.0099% | 8h | 0.06338 | −0.042% | $3K | $56 | 10x | as long as short |
| Hyperliquid PYTHshort | +0.0100% | 1h | 0.06341 | +0.003% | $1.7M | $1.4M | 5x | |
| Aster PYTHUSDT | +0.0100% | 4h | 0.06347 | +0.100% | $20K | $26K | 10x | as long as short |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06332 | −0.142% | $2.1M | $3.3M | 50x | as long as short |
| KuCoin PYTHUSDTM | +0.0100% | 4h | 0.06344 | +0.047% | $1.5M | $311K | 50x | as long as short |
| Bitget PYTHUSDT | +0.0100% | 4h | 0.06345 | +0.063% | $2.6M | $1.9M | 75x | as long as short |
| BingX PYTH-USDT | +0.0100% | 4h | 0.06339 | −0.032% | — | $2.8M | — | as long as short |
| Variational Omni PYTH | +0.0100% | 4h | 0.06345 | +0.064% | $44K | $23K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06341 | +0.006% | $3K | $1K | 10x | as long as short |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06336 | −0.074% | — | — | 20x | as long as short |
| Backpack PYTH_USDC_PERP | +0.0384% | 1h | 0.06348 | +0.106% | $38K | $88K | 10x | as long as short |
Aevo PYTH-PERP
Lighter PYTH
Paradex PYTH-USD-PERP
Aster PYTHUSDT
OKX PYTH-USDT-SWAP
KuCoin PYTHUSDTM
Bitget PYTHUSDT
BingX PYTH-USDT
Variational Omni PYTH
Orderly PERP_PYTH_USDC_mythos
Reya PYTHRUSDPERP
Backpack PYTH_USDC_PERP