Funding you earn now, next payment 04:00 UTC−0.1621%/8h= −177.5% APRpaid last 24h −0.119%
Price spread now: Bybit against Hyperliquid−0.151%7-day average −0.122% · you buy dearer than you sell
Net, funding: paid 7d − costs−$123as in the Funding arb table
Net, price: spread back to 7d avg − costs−$110as in the Price arb table
costs, in and out, $10k−$1071.074% of the position
Funding, last 7 days−0.160%−$16 on $10k
+Price spread, last 7 days+0.126%+$13 · spread now −0.151%, 7d avg −0.122%
=Together, before fees−0.034%+ Points / potential airdropHyperliquid: Season 2 · farm board−$3 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$49 a day on $10k at the current rate, and Bybit is 0.029% cheaper against Hyperliquid than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.122%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.160% in total (about -8.4% 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 | Hyperliquid RUNE | 0.6371 | 0.1721 | pay 0.0215% / 1h | 31m 42s | $1.8M | $1.1M | 5x |
| Short | Bybit RUNEUSDT | 0.6361 | 0.0100 | get 0.0100% / 8h | 4h 31m | $2.9M | $2.8M | 75x |
Hyperliquid RUNE
Bybit RUNEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Hyperliquid. 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
- −$340.35
- Price spread: −0.151% → −0.122%
- −$2.88
- Slippage, 4 orders
- −$87.43
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$450.67
- Costs to cover
- 1.074%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 9 min ago; Bybit: live order book, 6 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 Hyperliquid live order book, 9 min ago | 2.21 bp | 21.4 bp −$21 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 6 min ago | 3.95 bp | 33.1 bp −$33 | 67.4 bp −$674 | 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 | 0.0000% | 1h | 0.6357 | −0.213% | — | — | 10x | as long as short |
| dYdX RUNE-USD | +0.0005% | 1h | 0.6344 | −0.421% | $27K | $32K | 5x | as long as short |
| Injective RUNE/USDC PERP | +0.0033% | 1h | 0.6155 | −3.384% | $7 | $14 | 12x | as long as short |
| BloFin RUNE-USDT | +0.0085% | 8h | 0.6349 | −0.339% | $445K | $194K | 75x | as long as short |
| Binance RUNEUSDT | +0.0100% | 8h | 0.6362 | −0.135% | $4.9M | $15.7M | 75x | as long as short |
| Bybit RUNEUSDTshort | +0.0100% | 8h | 0.6361 | −0.151% | $2.9M | $2.8M | 75x | |
| Gate RUNE_USDT | +0.0100% | 8h | 0.6359 | −0.182% | $631K | $369K | 50x | as long as short |
| MEXC RUNE_USDT | +0.0100% | 8h | 0.6359 | −0.182% | $3.5M | $3.5M | 125x | as long as short |
| KuCoin RUNEUSDTM | +0.0100% | 8h | 0.6353 | −0.276% | $912K | $336K | 50x | as long as short |
| Bitget RUNEUSDT | +0.0100% | 8h | 0.6371 | +0.006% | $1.6M | $778K | 50x | as long as short |
Deribit RUNE_USDC-PERPETUAL
dYdX RUNE-USD
Injective RUNE/USDC PERP
BloFin RUNE-USDT
Binance RUNEUSDT
Gate RUNE_USDT
MEXC RUNE_USDT
KuCoin RUNEUSDTM
Bitget RUNEUSDTShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX RUNE-USDT | +0.0100% | 8h | 0.6361 | −0.151% | — | $59.0M | — | as long as short |
| Variational Omni RUNE | +0.0100% | 8h | 0.6318 | −0.819% | $186K | $67K | — | as long as short |
| Extended RUNE-USD | +0.0104% | 1h | 0.6355 | −0.242% | $4K | $167K | 10x | as long as short |
| Coinbase International RUNE-PERP-INTX | +0.0680% | 1h | 0.6360 | −0.166% | $37K | $30K | 25x | as long as short |
| Kraken Futures PF_RUNEUSD | +0.0986% | 1h | 0.6364 | −0.109% | $179K | $289K | 20x | as long as short |
| Hyperliquid RUNElong | +0.1721% | 1h | 0.6371 | long leg | $1.8M | $1.1M | 5x |
BingX RUNE-USDT
Variational Omni RUNE
Extended RUNE-USD
Coinbase International RUNE-PERP-INTX
Kraken Futures PF_RUNEUSD