Funding you earn now, next payment 00:00 UTC+0.0117%/8h= +12.8% APRpaid last 24h +0.045%
Price spread now: Hyperliquid against Bybit+0.061%7-day average +0.035% · you sell dearer than you buy
Net, funding: paid 7d − costs−$20as in the Funding arb table
Net, price: spread back to 7d avg − costs−$26as in the Price arb table
costs, in and out, $10k−$280.283% of the position
Funding, last 7 days+0.083%+$8 on $10k
+Price spread, last 7 days−0.049%−$5 · spread now +0.061%, 7d avg +0.035%
=Together, before fees+0.034%+ Points / potential airdropHyperliquid: Season 2 · farm board+$3 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Hyperliquid is 0.026% dearer against Bybit than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.035%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit TRXUSDT | 0.3443 | −0.0017 | get 0.0017% / 8h | 16m 09s | $54.6M | $8.1M | 75x |
| Short | Hyperliquid TRX | 0.3445 | 0.0100 | get 0.0013% / 1h | 16m 09s | $13.2M | $2.2M | 10x |
Bybit TRXUSDT
Hyperliquid TRXFunding 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
- $24.51
- Price spread: +0.061% → +0.035%
- $2.62
- Slippage, 4 orders
- −$8.32
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$1.19
- Costs to cover
- 0.283%
- Break-even
- 7.3 days
Slippage from Bybit: live order book, 3 min ago; Hyperliquid: 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 Bybit live order book, 3 min ago | 1.45 bp | 9.6 bp −$10 | 11.9 bp −$119 | 39.7 bp −$3,975 | doesn't fit |
| Sell Hyperliquid live order book, 6 min ago | 0.44 bp | 5.5 bp −$5 | doesn't fit | doesn't fit | doesn't fit |
TRX on 32 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 TRX/USDC PERP | −0.0146% | 1h | 0.3441 | −0.058% | $1K | $163K | 12x | as long as short |
| Reya TRXRUSDPERP | −0.0133% | 1h | 0.3443 | −0.009% | $5 | — | 20x | as long as short |
| KuCoin TRXUSDTM | −0.0094% | 8h | 0.3443 | −0.015% | $8.7M | $3.6M | 75x | as long as short |
| Backpack TRX_USDC_PERP | −0.0082% | 1h | 0.3443 | −0.009% | $58K | $4K | 10x | as long as short |
| Phoenix TRX | −0.0070% | 1h | 0.3442 | −0.032% | $5K | $13K | 10x | as long as short |
| Variational Omni TRX | −0.0027% | 8h | 0.3442 | −0.029% | $563K | $36K | — | as long as short |
| HTX TRX-USDT | −0.0019% | 8h | 0.3442 | −0.028% | $827K | $731K | 75x | as long as short |
| Bybit TRXUSDTlong | −0.0017% | 8h | 0.3443 | long leg | $54.6M | $8.1M | 75x | |
| dYdX TRX-USD | 0.0000% | 1h | 0.3444 | +0.040% | $181K | $10K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3444 | +0.040% | $121K | — | 150x | as long as short |
Injective TRX/USDC PERP
Reya TRXRUSDPERP
KuCoin TRXUSDTM
Backpack TRX_USDC_PERP
Phoenix TRX
Variational Omni TRX
HTX TRX-USDT
dYdX TRX-USD
gTrade (Gains Network) TRX/USDShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX TRX-USDT-SWAP | +0.0025% | 8h | 0.3443 | +0.009% | $15.6M | $8.8M | 50x | as long as short |
| Extended TRX-USD | +0.0032% | 1h | 0.3443 | −0.013% | $196K | $1.1M | 25x | as long as short |
| Binance TRXUSDT | +0.0034% | 8h | 0.3443 | +0.006% | $99.3M | $47.9M | 75x | as long as short |
| MEXC TRX_USDT | +0.0034% | 8h | 0.3443 | +0.012% | $18.2M | $1.9M | 200x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0062% | 1h | 0.3444 | +0.038% | $1.9M | $1.0M | 25x | as long as short |
| SoDEX TRX-USD | +0.0066% | 1h | 0.3443 | +0.006% | $403 | $5K | 5x | as long as short |
| Aster TRXUSDT | +0.0070% | 8h | 0.3443 | +0.004% | $956K | $659K | 75x | as long as short |
| Paradex TRX-USD-PERP | +0.0072% | 8h | 0.3442 | −0.018% | $9K | $385 | 20x | as long as short |
| Lighter TRX | +0.0080% | 1h | 0.3443 | −0.012% | $482K | $630K | 10x | as long as short |
| Gate TRX_USDT | +0.0083% | 8h | 0.3443 | 0.000% | $9.6M | $2.5M | 75x | as long as short |
| Phemex TRXUSDT | +0.0083% | 8h | 0.3443 | +0.006% | $3.8M | $1.6M | 50x | as long as short |
| Aevo TRX-PERP | +0.0088% | 1h | 0.3442 | −0.039% | $33K | — | 3x | as long as short |
| Orderly PERP_TRX_USDC | +0.0091% | 8h | 0.3443 | −0.012% | $14K | $107K | 20x | as long as short |
| Hyperliquid TRXshort | +0.0100% | 1h | 0.3445 | +0.061% | $13.2M | $2.2M | 10x | |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3444 | +0.017% | $9.5M | $2.2M | 75x | as long as short |
| BingX TRX-USDT | +0.0100% | 8h | 0.3443 | 0.000% | — | $40.0M | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3442 | −0.030% | $588K | $444K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3442 | −0.038% | $115K | $568K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3444 | +0.026% | $196K | $927K | 30x | as long as short |
| BloFin TRX-USDT | +0.0136% | 8h | 0.3442 | −0.023% | $4.6M | $4.0M | 50x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0366% / S −0.0395% | 1h | 0.3444 | +0.026% | $20K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0392% | 1h | 0.3447 | +0.109% | $832K | $417K | 25x | as long as short |
OKX TRX-USDT-SWAP
Extended TRX-USD
Binance TRXUSDT
MEXC TRX_USDT
Kraken Futures PF_TRXUSD
SoDEX TRX-USD
Aster TRXUSDT
Paradex TRX-USD-PERP
Lighter TRX
Gate TRX_USDT
Phemex TRXUSDT
Aevo TRX-PERP
Orderly PERP_TRX_USDC
Bitget TRXUSDT
BingX TRX-USDT
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
BloFin TRX-USDT
GMX TRX/USD [ETH-USDC]
Deribit TRX_USDC-PERPETUAL