Funding you earn now, next payment 23:00 UTC−0.0463%/8h= −50.7% APRpaid last 24h −0.037%
Price spread now: Bybit against Hyperliquid−0.105%7-day average −0.070% · you buy dearer than you sell
Net, funding: paid 7d − costs−$36as in the Funding arb table
Net, price: spread back to 7d avg − costs−$38as in the Price arb table
costs, in and out, $10k−$350.348% of the position
Funding, last 7 days−0.016%−$2 on $10k
+Price spread, last 7 days+0.046%+$5 · spread now −0.105%, 7d avg −0.070%
=Together, before fees+0.030%+ Points / potential airdropHyperliquid: Season 2 · farm board+$3 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Bybit is 0.035% cheaper against Hyperliquid than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.070%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.016% in total (about -0.8% 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 XLM | 0.2181 | 0.0563 | pay 0.0070% / 1h | 55m 32s | $12.4M | $6.0M | 5x |
| Short | Bybit XLMUSDT | 0.2179 | 0.0100 | get 0.0100% / 8h | 1h 55m | $44.2M | $42.3M | 75x |
Hyperliquid XLM
Bybit XLMUSDTFunding 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
- −$97.31
- Price spread: −0.105% → −0.070%
- −$3.53
- Slippage, 4 orders
- −$14.82
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$135.66
- Costs to cover
- 0.348%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 7 min ago; Bybit: live order book, 3 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, 7 min ago | 0.23 bp | 7.4 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 3 min ago | 2.30 bp | 9.6 bp −$10 | 15.9 bp −$159 | 55.8 bp −$5,576 | doesn't fit |
XLM on 31 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX XLM-USD | 0.0000% | 1h | 0.2177 | −0.206% | $24K | $3K | 10x | as long as short |
| gTrade (Gains Network) XLM/USD | L 0.0000% / S +0.0002% | 1h | 0.2177 | −0.203% | $4K | — | 150x | as long as short |
| Aster XLMUSDT | +0.0100% | 8h | 0.2177 | −0.177% | $593K | $800K | 75x | as long as short |
| Binance XLMUSDT | +0.0100% | 8h | 0.2180 | −0.054% | $56.7M | $147.7M | 75x | as long as short |
| Bybit XLMUSDTshort | +0.0100% | 8h | 0.2179 | −0.105% | $44.2M | $42.3M | 75x | |
| OKX XLM-USDT-SWAP | +0.0100% | 8h | 0.2178 | −0.151% | $13.2M | $41.7M | 50x | as long as short |
| Gate XLM_USDT | +0.0100% | 8h | 0.2176 | −0.229% | $4.0M | $5.9M | 75x | as long as short |
| MEXC XLM_USDT | +0.0100% | 8h | 0.2180 | −0.055% | $26.0M | $25.4M | 300x | as long as short |
| KuCoin XLMUSDTM | +0.0100% | 8h | 0.2177 | −0.202% | $14.6M | $10.5M | 75x | as long as short |
| Bitget XLMUSDT | +0.0100% | 8h | 0.2179 | −0.096% | $26.1M | $18.5M | 75x | as long as short |
dYdX XLM-USD
gTrade (Gains Network) XLM/USD
Aster XLMUSDT
Binance XLMUSDT
OKX XLM-USDT-SWAP
Gate XLM_USDT
MEXC XLM_USDT
KuCoin XLMUSDTM
Bitget XLMUSDTShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX XLM-USDT | +0.0100% | 8h | 0.2177 | −0.193% | — | $7.0M | — | as long as short |
| Variational Omni XLM | +0.0100% | 8h | 0.2162 | −0.866% | $240K | $1.1M | — | as long as short |
| edgeX XLMUSDC | +0.0100% | 4h | 0.2171 | −0.489% | $12K | $298K | 10x | as long as short |
| GRVT XLM_USDT_Perp | +0.0100% | 8h | 0.2175 | −0.300% | $604K | $610K | 10x | as long as short |
| ApeX Omni XLMUSDT | +0.0100% | 1h | 0.2167 | −0.656% | $174K | $256K | 50x | as long as short |
| Orderly PERP_XLM_USDC_mythos | +0.0100% | 4h | 0.2178 | −0.151% | $3K | $2K | 10x | as long as short |
| SunX XLM-USDT | +0.0100% | 8h | 0.2175 | −0.270% | $2K | $1.7M | 20x | as long as short |
| SoDEX XLM-USD | +0.0100% | 1h | 0.2176 | −0.243% | $2K | $6K | 5x | as long as short |
| HTX XLM-USDT | +0.0100% | 8h | 0.2178 | −0.138% | $201K | $272K | 20x | as long as short |
| Phemex XLMUSDT | +0.0100% | 8h | 0.2175 | −0.266% | $9.2M | $9.1M | 50x | as long as short |
| Extended XLM-USD | +0.0104% | 1h | 0.2177 | −0.177% | $194K | $1.6M | 10x | as long as short |
| Phoenix XLM | +0.0187% | 1h | 0.2170 | −0.536% | $5K | $41K | 5x | as long as short |
| BloFin XLM-USDT | +0.0220% | 8h | 0.2170 | −0.513% | $2.3M | $6.3M | 75x | as long as short |
| Backpack XLM_USDC_PERP | +0.0301% | 1h | 0.2177 | −0.220% | $104K | $238K | 20x | as long as short |
| GMX XLM/USD [WBTC.b-USDC] | L +0.0315% / S −0.0166% | 1h | 0.2176 | −0.242% | $45K | — | 100x | as long as short |
| Coinbase International XLM-PERP-INTX | +0.0432% | 1h | 0.2179 | −0.101% | $231K | $1.5M | 50x | as long as short |
| Deribit XLM_USDC-PERPETUAL | +0.0439% | 1h | 0.2179 | −0.096% | $541K | $170K | 25x | as long as short |
| Injective XLM/USDC PERP | +0.0475% | 1h | 0.2156 | −1.160% | $116 | $185K | 12x | as long as short |
| Kraken Futures PF_XLMUSD | +0.0502% | 1h | 0.2177 | −0.210% | $2.6M | $2.6M | 50x | as long as short |
| Hyperliquid XLMlong | +0.0563% | 1h | 0.2181 | long leg | $12.4M | $6.0M | 5x | |
| Lighter XLM | +0.0912% | 1h | 0.2181 | +0.005% | $429K | $804K | 5x | as long as short |
BingX XLM-USDT
Variational Omni XLM
edgeX XLMUSDC
GRVT XLM_USDT_Perp
ApeX Omni XLMUSDT
Orderly PERP_XLM_USDC_mythos
SunX XLM-USDT
SoDEX XLM-USD
HTX XLM-USDT
Phemex XLMUSDT
Extended XLM-USD
Phoenix XLM
BloFin XLM-USDT
Backpack XLM_USDC_PERP
GMX XLM/USD [WBTC.b-USDC]
Coinbase International XLM-PERP-INTX
Deribit XLM_USDC-PERPETUAL
Injective XLM/USDC PERP
Kraken Futures PF_XLMUSD
Lighter XLM