Funding you earn now, next payment 23:00 UTC+0.0638%/8h= +69.9% APRpaid last 24h +0.056%
Price spread now: Hyperliquid against Bybit+0.328%7-day average +0.120% · you sell dearer than you buy
Net, funding: paid 7d − costs−$106as in the Funding arb table
Net, price: spread back to 7d avg − costs−$95as in the Price arb table
costs, in and out, $10k−$1161.158% of the position
Funding, last 7 days+0.097%+$10 on $10k
+Price spread, last 7 days−0.240%−$24 · spread now +0.328%, 7d avg +0.120%
=Together, before fees−0.143%+ Points / potential airdropHyperliquid: Season 2 · farm board−$14 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$19 a day on $10k at the current rate, and Hyperliquid is 0.207% dearer against Bybit than usual: you sell high and buy low: +$21 more if the spread goes back to its 7-day average of +0.120%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.097% in total (about 5.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit RUNEUSDT | 0.6409 | 0.0100 | pay 0.0100% / 8h | 1h 21m | $2.7M | $1.6M | 75x |
| Short | Hyperliquid RUNE | 0.6430 | 0.0738 | get 0.0092% / 1h | 21m 08s | $1.7M | $868K | 5x |
Bybit RUNEUSDT
Hyperliquid RUNEFunding 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
- $133.96
- Price spread: +0.328% → +0.120%
- $20.72
- Slippage, 4 orders
- −$95.82
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $38.86
- Costs to cover
- 1.158%
- Break-even
- 5.0 days
Slippage from Bybit: live order book, 1 min ago; Hyperliquid: live order book, 10 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, 1 min ago | 4.67 bp | 37.3 bp −$37 | 71.0 bp −$710 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 10 min ago | 1.25 bp | 16.4 bp −$16 | doesn't fit | doesn't fit | doesn't fit |
RUNE on 16 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit RUNE_USDC-PERPETUAL | −0.0995% | 1h | 0.6420 | +0.172% | — | — | 10x | as long as short |
| Injective RUNE/USDC PERP | +0.0033% | 1h | 0.6155 | −3.963% | $7 | $24 | 12x | as long as short |
| BloFin RUNE-USDT | +0.0078% | 8h | 0.6416 | +0.109% | $457K | $157K | 75x | as long as short |
| Binance RUNEUSDT | +0.0100% | 8h | 0.6419 | +0.156% | $4.8M | $10.5M | 75x | as long as short |
| Bybit RUNEUSDTlong | +0.0100% | 8h | 0.6409 | long leg | $2.7M | $1.6M | 75x | |
| Gate RUNE_USDT | +0.0100% | 8h | 0.6422 | +0.203% | $663K | $302K | 50x | as long as short |
| MEXC RUNE_USDT | +0.0100% | 8h | 0.6412 | +0.047% | $3.5M | $1.7M | 125x | as long as short |
| KuCoin RUNEUSDTM | +0.0100% | 8h | 0.6418 | +0.140% | $905K | $201K | 50x | as long as short |
| Bitget RUNEUSDT | +0.0100% | 8h | 0.6420 | +0.172% | $1.6M | $510K | 50x | as long as short |
| BingX RUNE-USDT | +0.0100% | 8h | 0.6415 | +0.094% | — | $59.1M | — | as long as short |
Deribit RUNE_USDC-PERPETUAL
Injective RUNE/USDC PERP
BloFin RUNE-USDT
Binance RUNEUSDT
Gate RUNE_USDT
MEXC RUNE_USDT
KuCoin RUNEUSDTM
Bitget RUNEUSDT
BingX RUNE-USDTShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni RUNE | +0.0100% | 8h | 0.6424 | +0.229% | $127K | $9K | — | as long as short |
| Extended RUNE-USD | +0.0104% | 1h | 0.6418 | +0.140% | $4K | $170K | 10x | as long as short |
| Coinbase International RUNE-PERP-INTX | +0.0112% | 1h | 0.6454 | +0.702% | $37K | $18K | 25x | as long as short |
| Hyperliquid RUNEshort | +0.0738% | 1h | 0.6430 | +0.328% | $1.7M | $868K | 5x | |
| dYdX RUNE-USD | +0.1309% | 1h | 0.6424 | +0.228% | $55K | $4K | 5x | as long as short |
| Kraken Futures PF_RUNEUSD | +0.2128% | 1h | 0.6439 | +0.464% | $188K | $230K | 20x | as long as short |
Variational Omni RUNE
Extended RUNE-USD
Coinbase International RUNE-PERP-INTX
dYdX RUNE-USD
Kraken Futures PF_RUNEUSD