Funding you earn now, next payment 10:00 UTC+0.0241%/8h= +26.4% APRpaid last 24h +0.025%
Price spread now: Hyperliquid against Bybit+0.218%7-day average +0.123% · you sell dearer than you buy
Net, funding: paid 7d − costs−$58as in the Funding arb table
Net, price: spread back to 7d avg − costs−$53as in the Price arb table
costs, in and out, $10k−$630.630% of the position
Funding, last 7 days+0.045%+$5 on $10k
+Price spread, last 7 days−0.086%−$9 · spread now +0.218%, 7d avg +0.123%
=Together, before fees−0.040%+ Points / potential airdropHyperliquid: Season 2 · farm board−$4 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Hyperliquid is 0.095% dearer against Bybit than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.123%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.045% in total (about 2.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit ALGOUSDT | 0.1101 | −0.0141 | get 0.0141% / 8h | 6h 18m | $10.8M | $13.3M | 75x |
| Short | Hyperliquid ALGO | 0.1103 | 0.0100 | get 0.0013% / 1h | 18m 46s | $3.4M | $2.3M | 5x |
Bybit ALGOUSDT
Hyperliquid ALGOFunding 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
- $50.55
- Price spread: +0.218% → +0.123%
- $9.53
- Slippage, 4 orders
- −$43
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$2.92
- Costs to cover
- 0.630%
- Break-even
- 7.4 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 | 2.27 bp | 13.6 bp −$14 | 37.1 bp −$371 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 6 min ago | 1.81 bp | 26.3 bp −$26 | doesn't fit | doesn't fit | doesn't fit |
ALGO on 22 exchanges
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_ALGOUSD | −0.0320% | 1h | 0.1102 | +0.088% | $800K | $1.1M | 50x | as long as short |
| Deribit ALGO_USDC-PERPETUAL | −0.0294% | 1h | 0.1102 | +0.073% | $87K | $42K | 25x | as long as short |
| Bybit ALGOUSDTlong | −0.0141% | 8h | 0.1101 | long leg | $10.8M | $13.3M | 75x | |
| gTrade (Gains Network) ALGO/USD | L −0.0001% / S +0.0003% | 1h | 0.1103 | +0.154% | $16K | — | 150x | as long as short |
| Injective ALGO/USDC PERP | +0.0033% | 1h | 0.1120 | +1.735% | $834 | $233K | 12x | as long as short |
| Coinbase International ALGO-PERP-INTX | +0.0088% | 1h | 0.1106 | +0.509% | $63K | $180K | 50x | as long as short |
| Hyperliquid ALGOshort | +0.0100% | 1h | 0.1103 | +0.218% | $3.4M | $2.3M | 5x | |
| Aster ALGOUSDT | +0.0100% | 8h | 0.1103 | +0.196% | $44K | $40K | 5x | as long as short |
| Binance ALGOUSDT | +0.0100% | 8h | 0.1102 | +0.091% | $9.3M | $34.2M | 75x | as long as short |
| OKX ALGO-USDT-SWAP | +0.0100% | 8h | 0.1101 | +0.036% | $2.6M | $7.8M | 50x | as long as short |
Kraken Futures PF_ALGOUSD
Deribit ALGO_USDC-PERPETUAL
gTrade (Gains Network) ALGO/USD
Injective ALGO/USDC PERP
Coinbase International ALGO-PERP-INTX
Aster ALGOUSDT
Binance ALGOUSDT
OKX ALGO-USDT-SWAPShow all 22 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate ALGO_USDT | +0.0100% | 8h | 0.1101 | +0.036% | $829K | $886K | 50x | as long as short |
| MEXC ALGO_USDT | +0.0100% | 8h | 0.1102 | +0.073% | $23.6M | $3.3M | 200x | as long as short |
| KuCoin ALGOUSDTM | +0.0100% | 8h | 0.1102 | +0.118% | $3.4M | $1.4M | 50x | as long as short |
| Bitget ALGOUSDT | +0.0100% | 8h | 0.1101 | +0.009% | $5.4M | $3.6M | 75x | as long as short |
| BingX ALGO-USDT | +0.0100% | 8h | 0.1102 | +0.064% | — | $3.4M | — | as long as short |
| Variational Omni ALGO | +0.0100% | 8h | 0.1102 | +0.066% | $59K | $13K | — | as long as short |
| HTX ALGO-USDT | +0.0100% | 8h | 0.1102 | +0.073% | $57K | $130K | 75x | as long as short |
| Phemex ALGOUSDT | +0.0100% | 8h | 0.1104 | +0.282% | $3.7M | $1.7M | 50x | as long as short |
| Extended ALGO-USD | +0.0104% | 1h | 0.1101 | +0.033% | $4K | $187K | 10x | as long as short |
| BloFin ALGO-USDT | +0.0220% | 8h | 0.1103 | +0.164% | $471K | $817K | 75x | as long as short |
| GMX ALGO/USD [WBTC.b-USDC] | L +0.0321% / S −0.0273% | 1h | 0.1102 | +0.110% | $6K | — | 100x | as long as short |
| dYdX ALGO-USD | +0.1278% | 1h | 0.1103 | +0.180% | $160K | $5K | 5x | as long as short |
Gate ALGO_USDT
MEXC ALGO_USDT
KuCoin ALGOUSDTM
Bitget ALGOUSDT
BingX ALGO-USDT
Variational Omni ALGO
HTX ALGO-USDT
Phemex ALGOUSDT
Extended ALGO-USD
BloFin ALGO-USDT
GMX ALGO/USD [WBTC.b-USDC]
dYdX ALGO-USD