Funding arb · Price arb /

AIXBT

all AIXBT markets

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: Hyperliquid against Bybit+0.314%7-day average +0.118% · you sell dearer than you buy

Net, funding: paid 7d − costs−$98as in the Funding arb table

Net, price: spread back to 7d avg − costs−$81as in the Price arb table

costs, in and out, $10k−$1011.009% of the position

Long on Bybit Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.027%+$3 on $10k

Price spread, last 4 days (all we have)−0.179%−$18 · spread now +0.314%, 7d avg +0.118%

Together, before fees−0.152%+ Points / potential airdropHyperliquid: Season 2 · farm board−$15 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: Hyperliquid is 0.197% dearer against Bybit than usual: you sell high and buy low, +$20 on $10k if it goes back to its 7-day average of +0.118%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AIXBTUSDT	0.02291	0.0100	pay 0.0050% / 4h	39m 24s	$1.2M	$1.3M	25x
Short	Hyperliquid AIXBT	0.02298	0.0100	get 0.0013% / 1h	39m 24s	$409K	$225K	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 +0.314%Rate

Funding earned: $0
Price spread: +0.314% → +0.118%: $19.65
Slippage, 4 orders: −$80.92
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$81.27
Costs to cover: 1.009%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; Hyperliquid: live order book, 10 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, 1 min ago	4.35 bp	28.9 bp −$29	513.5 bp −$5,135	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 10 min ago	1.94 bp	20.6 bp −$21	doesn't fit	doesn't fit	doesn't fit

AIXBT 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_AIXBTUSD	−0.0889%	1h	0.02298	+0.288%	$19K	$5K	10x	as long as short
Variational Omni AIXBT	+0.0026%	4h	0.02306	+0.635%	$100K	$11K	—	as long as short
BloFin AIXBT-USDT	+0.0078%	4h	0.02307	+0.698%	$122K	$92K	50x	as long as short
Hyperliquid AIXBTshort	+0.0100%	1h	0.02298	+0.314%	$409K	$225K	3x
Binance AIXBTUSDT	+0.0100%	4h	0.02293	+0.087%	$2.5M	$4.3M	50x	as long as short
Bybit AIXBTUSDTlong	+0.0100%	4h	0.02291	long leg	$1.2M	$1.3M	25x
OKX AIXBT-USDT-SWAP	+0.0100%	4h	0.02294	+0.131%	$467K	$1.9M	20x	as long as short
Gate AIXBT_USDT	+0.0100%	4h	0.02294	+0.131%	$218K	$136K	25x	as long as short
MEXC AIXBT_USDT	+0.0100%	4h	0.02296	+0.218%	$687K	$276K	100x	as long as short
KuCoin AIXBTUSDTM	+0.0100%	4h	0.02294	+0.131%	$1.2M	$1.5M	30x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget AIXBTUSDT	+0.0100%	4h	0.02296	+0.218%	$641K	$651K	20x	as long as short
BingX AIXBT-USDT	+0.0100%	4h	0.02292	+0.044%	—	$6.7M	—	as long as short
GMX AIXBT/USD [ETH-USDC]	L +0.0247% / S −0.0698%	1h	0.02301	+0.441%	$3K	—	100x	as long as short
Reya AIXBTRUSDPERP	+0.0372%	1h	0.02294	+0.147%	—	—	—	as long as short