Funding arb · Price arb /

DYM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bybit against Hyperliquid−0.179%7-day average −0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$365as in the Funding arb table

Net, price: spread back to 7d avg − costs−$383as in the Price arb table

costs, in and out, $10k−$3683.678% of the position

Long on Hyperliquid Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.030%+$3 on $10k

Price spread, last 4 days (all we have)+0.234%+$23 · spread now −0.179%, 7d avg −0.023%

Together, before fees+0.264%+ Points / potential airdropHyperliquid: Season 2 · farm board+$26 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: Bybit is 0.156% cheaper against Hyperliquid than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of −0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid DYM	0.01843	0.0100	pay 0.0013% / 1h	2m 52s	$369K	$255K	3x
Short	Bybit DYMUSDT	0.01840	0.0100	get 0.0050% / 4h	2m 52s	$782K	$426K	25x

Funding 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 it

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 HyperliquidbpFee BybitbpOrdersPrice spread, now −0.179%Rate

Funding earned: $0
Price spread: −0.179% → −0.023%: −$15.63
Slippage, 4 orders: −$347.79
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$383.43
Costs to cover: 3.678%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 57 min ago; Bybit: live order book, 7 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, 57 min ago	2.73 bp	31.1 bp −$31	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 7 min ago	5.45 bp	150.9 bp −$151	1076.3 bp −$10.8K	doesn't fit	doesn't fit

DYM 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
dYdX DYM-USD	0.0000%	1h	0.01837	−0.340%	$252	$5	5x	as long as short
Injective DYM/USDC PERP	+0.0033%	1h	0.01718	−6.782%	$237	$12K	5.5x	as long as short
Hyperliquid DYMlong	+0.0100%	1h	0.01843	long leg	$369K	$255K	3x
Aster DYMUSDT	+0.0100%	4h	0.01841	−0.107%	$76K	$5K	5x	as long as short
Binance DYMUSDT	+0.0100%	4h	0.01843	+0.019%	$2.4M	$4.7M	10x	as long as short
Bybit DYMUSDTshort	+0.0100%	4h	0.01840	−0.179%	$782K	$426K	25x
MEXC DYM_USDT	+0.0100%	4h	0.01843	0.000%	$1.1M	$673K	20x	as long as short
Bitget DYMUSDT	+0.0100%	4h	0.01843	0.000%	$401K	$175K	25x	as long as short
BingX DYM-USDT	+0.0100%	4h	0.01842	−0.054%	—	$12.8M	—	as long as short
Variational Omni DYM	+0.0100%	4h	0.01834	−0.502%	$9K	$5K	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended DYM-USD	+0.0104%	1h	0.01842	−0.031%	$4K	$263K	5x	as long as short
Gate DYM_USDT	+0.0294%	4h	0.01843	0.000%	$147K	$169K	25x	as long as short
KuCoin DYMUSDTM	+0.0914%	4h	0.01841	−0.109%	$435K	$144K	25x	as long as short
Kraken Futures PF_DYMUSD	+0.1935%	1h	0.01845	+0.098%	$15K	$5K	10x	as long as short