Funding you earn now, next payment 04:00 UTC−0.0146%/8h= −16.0% APRpaid last 24h +0.035%
Price spread now: Bybit against Hyperliquid+0.095%7-day average +0.008% · you sell dearer than you buy
Net, funding: paid 7d − costs−$79as in the Funding arb table
Net, price: spread back to 7d avg − costs−$76as in the Price arb table
costs, in and out, $10k−$850.849% of the position
Funding, last 7 days+0.055%+$5 on $10k
+Price spread, last 4 days (all we have)−0.123%−$12 · spread now +0.095%, 7d avg +0.008%
=Together, before fees−0.068%+ Points / potential airdropHyperliquid: Season 2 · farm board−$7 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Bybit is 0.087% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.095% now, against its 7-day average of +0.008%): +$9 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 48 hours. Mind the row above: over the last 7 days funding on this pair paid +0.055%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid SAND | 0.04125 | 0.0100 | pay 0.0013% / 1h | 57m 11s | $571K | $325K | 5x |
| Short | Bybit SANDUSDT | 0.04129 | −0.0046 | pay 0.0046% / 8h | 4h 57m | $3.4M | $3.4M | 75x |
Hyperliquid SAND
Bybit SANDUSDTFunding 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
- −$30.71
- Price spread: +0.095% → +0.008%
- $8.69
- Slippage, 4 orders
- −$64.93
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$106.95
- Costs to cover
- 0.849%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 43 min ago; Bybit: live order book, 5 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, 43 min ago | 3.13 bp | 25.5 bp −$25 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 5 min ago | 1.21 bp | 14.6 bp −$15 | 38.5 bp −$385 | doesn't fit | doesn't fit |
SAND on 15 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 | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni SAND | −0.0369% | 8h | 0.04137 | +0.292% | $113K | $4K | — | as long as short |
| Aster SANDUSDT | −0.0257% | 8h | 0.04126 | +0.018% | $13K | $16K | 10x | as long as short |
| Gate SAND_USDT | −0.0227% | 8h | 0.04122 | −0.075% | $461K | $620K | 75x | as long as short |
| Binance SANDUSDT | −0.0139% | 8h | 0.04128 | +0.070% | $6.5M | $12.0M | 75x | as long as short |
| MEXC SAND_USDT | −0.0139% | 8h | 0.04132 | +0.167% | $11.5M | $1.7M | 200x | as long as short |
| Extended SAND-USD | −0.0136% | 1h | 0.04125 | −0.003% | $3K | $173K | 10x | as long as short |
| BloFin SAND-USDT | −0.0132% | 8h | 0.04126 | +0.022% | $321K | $216K | 75x | as long as short |
| Bitget SANDUSDT | −0.0100% | 8h | 0.04122 | −0.075% | $1.7M | $547K | 10x | as long as short |
| KuCoin SANDUSDTM | −0.0093% | 8h | 0.04119 | −0.148% | $2.5M | $364K | 50x | as long as short |
| Bybit SANDUSDTshort | −0.0046% | 8h | 0.04129 | +0.095% | $3.4M | $3.4M | 75x |
Variational Omni SAND
Aster SANDUSDT
Gate SAND_USDT
Binance SANDUSDT
MEXC SAND_USDT
Extended SAND-USD
BloFin SAND-USDT
Bitget SANDUSDT
KuCoin SANDUSDTMShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX SAND-USDT-SWAP | +0.0026% | 8h | 0.04131 | +0.143% | $1.7M | $3.1M | 50x | as long as short |
| BingX SAND-USDT | +0.0028% | 8h | 0.04128 | +0.070% | — | $2.4M | — | as long as short |
| Injective SAND/USDC PERP | +0.0033% | 1h | 0.04129 | +0.095% | $757 | $795 | 5.5x | as long as short |
| Hyperliquid SANDlong | +0.0100% | 1h | 0.04125 | long leg | $571K | $325K | 5x | |
| Kraken Futures PF_SANDUSD | +0.0500% | 1h | 0.04137 | +0.281% | $154K | $107K | 25x | as long as short |
OKX SAND-USDT-SWAP
BingX SAND-USDT
Injective SAND/USDC PERP
Kraken Futures PF_SANDUSD