Funding you earn now, next payment 06:00 UTC+0.0333%/8h= +36.5% APRpaid last 24h +0.015%
Price spread now: Hyperliquid against Bybit+0.053%7-day average +0.098% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.137%+$14 on $10k
+Price spread, last 7 days−0.036%−$4 · spread now +0.053%, 7d avg +0.098%
=Together, before fees+0.101%+ Points / potential airdropHyperliquid: Season 2 · farm board+$10 on $10k · with fees, hour by hour
Funding pays, the price is against you. Hyperliquid is 0.045% cheaper against Bybit than usual: you would sell low and buy high (spread +0.053% now, against its 7-day average of +0.098%). If the spread goes back, that is −$4 on $10k: about 11 hours of funding at the current rate (+$10 a day). At the pace of the last 7 days (+0.137% in total) that is about 2.3 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.137% in total (about 7.2% 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 | Bybit ETHFIUSDT | 0.7012 | −0.0233 | get 0.0117% / 4h | 2h 18m | $17.5M | $12.9M | 25x |
| Short | Hyperliquid ETHFI | 0.7016 | 0.0100 | get 0.0013% / 1h | 18m 12s | $17.0M | $8.5M | 5x |
Bybit ETHFIUSDT
Hyperliquid ETHFIFunding 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
- $69.95
- Price spread: +0.053% → +0.098%
- −$4.49
- 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
- $45.45
- Costs to cover
- 0.200%
- Break-even
- 2.5 days
Slippage unknown: Bybit: live order book, just now; Hyperliquid: live order book, 5 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, just now | 0.71 bp | 15.8 bp −$16 | 51.9 bp −$519 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 5 min ago | 0.43 bp | doesn't fit | doesn't fit | doesn't fit | doesn't fit |
ETHFI on 24 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_ETHFIUSD | −0.0407% | 1h | 0.7032 | +0.281% | $289K | $286K | 20x | as long as short |
| HTX ETHFI-USDT | −0.0321% | 4h | 0.6994 | −0.257% | $81K | $171K | 20x | as long as short |
| Orderly PERP_ETHFI_USDC | −0.0262% | 4h | 0.7014 | +0.029% | $16K | $1K | 10x | as long as short |
| Bybit ETHFIUSDTlong | −0.0233% | 4h | 0.7012 | long leg | $17.5M | $12.9M | 25x | |
| Deribit ETHFI_USDC-PERPETUAL | −0.0177% | 1h | 0.7017 | +0.071% | $40K | $10K | 10x | as long as short |
| Variational Omni ETHFI | −0.0165% | 4h | 0.6939 | −1.037% | $902K | $767K | — | as long as short |
| Extended ETHFI-USD | −0.0024% | 1h | 0.7012 | −0.002% | $95K | $502K | 10x | as long as short |
| MEXC ETHFI_USDT | −0.0024% | 4h | 0.7009 | −0.043% | $15.8M | $4.1M | 125x | as long as short |
| Binance ETHFIUSDT | −0.0023% | 4h | 0.7013 | +0.010% | $24.4M | $35.7M | 75x | as long as short |
| Paradex ETHFI-USD-PERP | 0.0000% | 8h | 0.7003 | −0.123% | $6K | — | 5x | as long as short |
Kraken Futures PF_ETHFIUSD
HTX ETHFI-USDT
Orderly PERP_ETHFI_USDC
Deribit ETHFI_USDC-PERPETUAL
Variational Omni ETHFI
Extended ETHFI-USD
MEXC ETHFI_USDT
Binance ETHFIUSDT
Paradex ETHFI-USD-PERPShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective ETHFI/USDC PERP | +0.0033% | 1h | 0.7240 | +3.252% | $321 | $51K | 5.5x | as long as short |
| Aster ETHFIUSDT | +0.0049% | 4h | 0.7020 | +0.120% | $180K | $260K | 10x | as long as short |
| Aevo ETHFI-PERP | +0.0072% | 1h | 0.7010 | −0.029% | $8K | — | 3x | as long as short |
| Lighter ETHFI | +0.0096% | 1h | 0.7020 | +0.110% | $1.1M | $831K | 5x | as long as short |
| Hyperliquid ETHFIshort | +0.0100% | 1h | 0.7016 | +0.053% | $17.0M | $8.5M | 5x | |
| OKX ETHFI-USDT-SWAP | +0.0100% | 4h | 0.7014 | +0.029% | $5.2M | $12.6M | 20x | as long as short |
| Gate ETHFI_USDT | +0.0100% | 4h | 0.7021 | +0.128% | $1.7M | $2.0M | 75x | as long as short |
| KuCoin ETHFIUSDTM | +0.0100% | 4h | 0.7012 | 0.000% | $1.2M | $230K | 50x | as long as short |
| Bitget ETHFIUSDT | +0.0100% | 4h | 0.7013 | +0.014% | $6.1M | $5.0M | 75x | as long as short |
| BingX ETHFI-USDC | +0.0100% | 4h | 0.7018 | +0.086% | — | $1.2M | — | as long as short |
| Polymarket Perps ETHFI-USD | +0.0100% | 1h | 0.7015 | +0.048% | $63K | $127K | 5x | as long as short |
| SunX ETHFI-USDT | +0.0100% | 4h | 0.7022 | +0.143% | $1K | $1.1M | 20x | as long as short |
| BloFin ETHFI-USDT | +0.0215% | 4h | 0.6993 | −0.271% | $1.2M | $241K | 75x | as long as short |
| Coinbase International ETHFI-PERP-INTX | +0.0376% | 1h | 0.7015 | +0.043% | $32K | $6K | 50x | as long as short |
Injective ETHFI/USDC PERP
Aster ETHFIUSDT
Aevo ETHFI-PERP
Lighter ETHFI
OKX ETHFI-USDT-SWAP
Gate ETHFI_USDT
KuCoin ETHFIUSDTM
Bitget ETHFIUSDT
BingX ETHFI-USDC
Polymarket Perps ETHFI-USD
SunX ETHFI-USDT
BloFin ETHFI-USDT
Coinbase International ETHFI-PERP-INTX