Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0590%/8h= +64.6% APRpaid last 24h +0.186%

Price spread now: Hyperliquid against Bybit+0.169%7-day average +0.221% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.665%+$67 on $10k

Price spread, last 7 days+0.106%+$11 · spread now +0.169%, 7d avg +0.221%

Together, before fees+0.771%+ Points / potential airdropHyperliquid: Season 2 · farm board+$77 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.052% cheaper against Bybit than usual: you would sell low and buy high (spread +0.169% now, against its 7-day average of +0.221%). If the spread goes back, that is −$5 on $10k: about 7 hours of funding at the current rate (+$18 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit 0GUSDT	0.2339	0.0100	pay 0.0050% / 4h	3h 54m	$2.4M	$2.3M	50x
Short	Hyperliquid 0G	0.2343	0.0690	get 0.0086% / 1h	54m 40s	$2.5M	$490K	3x

Funding 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

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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 BybitbpFee HyperliquidbpOrdersPrice spread, now +0.169%Rate

Funding earned: $123.82
Price spread: +0.169% → +0.221%: −$5.17
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $98.65
Costs to cover: 0.200%
Break-even: 1.4 days

Slippage unknown: Bybit: live order book, 2 min ago; Hyperliquid: live order book, 6 min ago. Net counts fees only.

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, 2 min ago	4.28 bp	34.0 bp −$34	245.6 bp −$2,456	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 6 min ago	1.91 bp	24.2 bp −$24	doesn't fit	doesn't fit	doesn't fit

0G 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
BingX 0G-USDT	−0.0800%	4h	0.2339	0.000%	—	$6.5M	—	as long as short
GMX 0G/USD [WBTC.b-USDC]	L −0.0235% / S +0.0198%	1h	0.2341	+0.065%	$2K	—	100x	as long as short
Aster 0GUSDT	+0.0100%	4h	0.2342	+0.127%	$17K	$42K	5x	as long as short
Binance 0GUSDT	+0.0100%	4h	0.2340	+0.043%	$6.9M	$8.7M	50x	as long as short
Bybit 0GUSDTlong	+0.0100%	4h	0.2339	long leg	$2.4M	$2.3M	50x
OKX 0G-USDT-SWAP	+0.0100%	4h	0.2341	+0.086%	$873K	$2.4M	20x	as long as short
Gate 0G_USDT	+0.0100%	8h	0.2336	−0.128%	$602K	$149K	50x	as long as short
MEXC 0G_USDT	+0.0100%	4h	0.2339	0.000%	$2.1M	$223K	50x	as long as short
Bitget 0GUSDT	+0.0100%	4h	0.2341	+0.086%	$2.0M	$811K	50x	as long as short
Backpack 0G_USDC_PERP	+0.0100%	1h	0.2346	+0.299%	$32K	$54K	5x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni 0G	+0.0100%	4h	0.2336	−0.146%	$13K	$4K	—	as long as short
ApeX Omni 0GUSDT	+0.0100%	1h	0.2339	0.000%	$18K	$621K	50x	as long as short
BloFin 0G-USDT	+0.0135%	4h	0.2344	+0.214%	$330K	$9K	50x	as long as short
KuCoin 0GUSDTM	+0.0226%	4h	0.2342	+0.115%	$2.4M	$2.4M	50x	as long as short
Hyperliquid 0Gshort	+0.0690%	1h	0.2343	+0.169%	$2.5M	$490K	3x
Lighter 0G	+0.1360%	1h	0.2344	+0.214%	$49K	$87K	3x	as long as short