Funding you earn now, next payment 02:00 UTC−0.0802%/8h= −87.8% APRpaid last 24h −0.164%
Price spread now: Bybit against Hyperliquid−0.230%7-day average −0.166% · you buy dearer than you sell
Net, funding: paid 7d − costs−$140as in the Funding arb table
Net, price: spread back to 7d avg − costs−$122as in the Price arb table
costs, in and out, $10k−$1151.155% of the position
Funding, last 7 days−0.249%−$25 on $10k
+Price spread, last 7 days+0.140%+$14 · spread now −0.230%, 7d avg −0.166%
=Together, before fees−0.109%+ Points / potential airdropHyperliquid: Season 2 · farm board−$11 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$24 a day on $10k at the current rate, and Bybit is 0.064% cheaper against Hyperliquid than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.166%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.249% in total (about -13.0% 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 CFX | 0.05393 | 0.0902 | pay 0.0113% / 1h | 29m 47s | $3.2M | $374K | 5x |
| Short | Bybit CFXUSDT | 0.05381 | 0.0100 | get 0.0100% / 8h | 6h 29m | $2.4M | $1.5M | 25x |
Hyperliquid CFX
Bybit CFXUSDTFunding 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
- −$168.48
- Price spread: −0.230% → −0.166%
- −$6.37
- Slippage, 4 orders
- −$95.49
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$290.34
- Costs to cover
- 1.155%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 2 min ago; Bybit: live order book, 2 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, 2 min ago | 1.02 bp | 21.9 bp −$22 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 2 min ago | 0.93 bp | 37.1 bp −$37 | 195.0 bp −$1,950 | doesn't fit | doesn't fit |
CFX 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster CFXUSDT | +0.0100% | 8h | 0.05378 | −0.279% | $5K | $43K | 5x | as long as short |
| Binance CFXUSDT | +0.0100% | 8h | 0.05381 | −0.230% | $5.4M | $10.7M | 75x | as long as short |
| Bybit CFXUSDTshort | +0.0100% | 8h | 0.05381 | −0.230% | $2.4M | $1.5M | 25x | |
| OKX CFX-USDT-SWAP | +0.0100% | 8h | 0.05379 | −0.267% | $2.6M | $5.8M | 20x | as long as short |
| Gate CFX_USDT | +0.0100% | 8h | 0.05379 | −0.267% | $1.1M | $2.6M | 50x | as long as short |
| MEXC CFX_USDT | +0.0100% | 8h | 0.05384 | −0.174% | $3.3M | $1.7M | 125x | as long as short |
| KuCoin CFXUSDTM | +0.0100% | 8h | 0.05378 | −0.286% | $882K | $287K | 75x | as long as short |
| Bitget CFXUSDT | +0.0100% | 8h | 0.05382 | −0.211% | $1.6M | $1.4M | 75x | as long as short |
| BingX CFX-USDT | +0.0100% | 8h | 0.05381 | −0.230% | — | $20.3M | — | as long as short |
| Variational Omni CFX | +0.0100% | 8h | 0.05375 | −0.338% | $38K | $41K | — | as long as short |
Aster CFXUSDT
Binance CFXUSDT
OKX CFX-USDT-SWAP
Gate CFX_USDT
MEXC CFX_USDT
KuCoin CFXUSDTM
Bitget CFXUSDT
BingX CFX-USDT
Variational Omni CFXShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT CFX_USDT_Perp | +0.0100% | 8h | 0.05374 | −0.360% | $510K | $1.8M | 10x | as long as short |
| Extended CFX-USD | +0.0104% | 1h | 0.05383 | −0.193% | $2K | $266K | 10x | as long as short |
| Coinbase International CFX-PERP-INTX | +0.0408% | 1h | 0.05363 | −0.564% | $44K | $145K | 50x | as long as short |
| Hyperliquid CFXlong | +0.0902% | 1h | 0.05393 | long leg | $3.2M | $374K | 5x | |
| Kraken Futures PF_CFXUSD | +0.1213% | 1h | 0.05390 | −0.065% | $33K | $23K | 20x | as long as short |
| Deribit CFX_USDC-PERPETUAL | +0.2910% | 1h | 0.05397 | +0.067% | $142 | $29 | 10x | as long as short |
GRVT CFX_USDT_Perp
Extended CFX-USD
Coinbase International CFX-PERP-INTX
Kraken Futures PF_CFXUSD
Deribit CFX_USDC-PERPETUAL