Funding arb · Price arb /

TURBO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bybit against Hyperliquid−0.084%7-day average +0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$112as in the Funding arb table

Net, price: spread back to 7d avg − costs−$121as in the Price arb table

costs, in and out, $10k−$1121.117% of the position

Long on Hyperliquid Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.103%+$10 · spread now −0.084%, 7d avg +0.008%

Together, before fees+0.103%+ Points / potential airdropHyperliquid: Season 2 · farm board+$10 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.092% cheaper against Hyperliquid than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid TURBO	0.001077	0.0100	pay 0.0013% / 1h	14m 41s	$316K	$170K	3x
Short	Bybit 1000TURBOUSDT	0.001076	0.0100	get 0.0050% / 4h	14m 41s	$395K	$788K	25x

Funding 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 it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee HyperliquidbpFee BybitbpOrdersPrice spread, now −0.084%Rate

Funding earned: $0
Price spread: −0.084% → +0.008%: −$9.18
Slippage, 4 orders: −$91.7
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$120.88
Costs to cover: 1.117%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 35 min ago; Bybit: live order book, 16 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, 35 min ago	4.65 bp	23.2 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 16 min ago	7.93 bp	33.0 bp −$33	389.8 bp −$3,898	doesn't fit	doesn't fit

TURBO on 14 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
Kraken Futures PF_TURBOUSD	−0.0250%	1h	0.001076	−0.122%	$71K	$31K	20x	as long as short
Injective TURBO/USDC PERP	+0.0033%	1h	0.001069	−0.743%	$83	$4	5.5x	as long as short
Hyperliquid TURBOlong	+0.0100%	1h	0.001077	long leg	$316K	$170K	3x
Aster TURBOUSDT	+0.0100%	4h	0.001076	−0.122%	$9K	$20K	10x	as long as short
Binance TURBOUSDT	+0.0100%	4h	0.001076	−0.046%	$2.9M	$6.6M	50x	as long as short
Bybit 1000TURBOUSDTshort	+0.0100%	4h	0.001076	−0.084%	$395K	$788K	25x
OKX TURBO-USDT-SWAP	+0.0100%	4h	0.001076	−0.130%	$909K	$2.4M	20x	as long as short
Gate TURBO_USDT	+0.0100%	4h	0.001076	−0.046%	$388K	$353K	25x	as long as short
MEXC TURBO_USDT	+0.0100%	4h	0.001077	0.000%	$5.6M	$621K	20x	as long as short
KuCoin TURBOUSDTM	+0.0100%	4h	0.001076	−0.130%	$1.8M	$933K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget TURBOUSDT	+0.0100%	4h	0.001078	+0.093%	$1.0M	$611K	25x	as long as short
BingX TURBO-USDT	+0.0100%	4h	0.001076	−0.084%	—	$9.4M	—	as long as short
Extended TURBO-USD	+0.0104%	1h	0.001076	−0.088%	$835	$202K	5x	as long as short
BloFin TURBO-USDT	+0.0151%	4h	0.001075	−0.186%	$155K	$493K	75x	as long as short