Funding you earn now, next payment 00:00 UTC+0.0060%/8h= +6.6% APRpaid last 24h +0.125%
Price spread now: Hyperliquid against Bybit+0.338%7-day average +0.132% · you sell dearer than you buy
Net, funding: paid 7d − costs−$28as in the Funding arb table
Net, price: spread back to 7d avg − costs−$26as in the Price arb table
costs, in and out, $10k−$460.464% of the position
Funding, last 7 days+0.184%+$18 on $10k
+Price spread, last 7 days−0.231%−$23 · spread now +0.338%, 7d avg +0.132%
=Together, before fees−0.047%+ Points / potential airdropHyperliquid: Season 2 · farm board−$5 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Hyperliquid is 0.206% dearer against Bybit than usual: you sell high and buy low: +$21 more if the spread goes back to its 7-day average of +0.132%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit ICPUSDT | 3.0460 | 0.0100 | pay 0.0100% / 8h | 48m 34s | $17.8M | $18.1M | 75x |
| Short | Hyperliquid ICP | 3.0563 | 0.0160 | get 0.0020% / 1h | 48m 34s | $4.8M | $5.0M | 5x |
Bybit ICPUSDT
Hyperliquid ICPFunding 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
- $12.6
- Price spread: +0.338% → +0.132%
- $20.63
- Slippage, 4 orders
- −$26.41
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$13.18
- Costs to cover
- 0.464%
- Break-even
- 14.3 days
Slippage from Bybit: live order book, 5 min ago; Hyperliquid: live order book, 3 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, 5 min ago | 1.64 bp | 13.4 bp −$13 | 37.3 bp −$373 | 420.7 bp −$42.1K | doesn't fit |
| Sell Hyperliquid live order book, 3 min ago | 1.47 bp | 9.0 bp −$9 | doesn't fit | doesn't fit | doesn't fit |
ICP on 27 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 | |
|---|---|---|---|---|---|---|---|---|
| Phemex ICPUSDT | −0.1611% | 8h | 3.0390 | −0.230% | $1.8M | $766K | 50x | as long as short |
| Deribit ICP_USDC-PERPETUAL | −0.0306% | 1h | 3.0539 | +0.259% | $272 | $464 | 50x | as long as short |
| Variational Omni ICP | −0.0150% | 8h | 3.0556 | +0.316% | $1.1M | $107K | — | as long as short |
| Gate ICP_USDT | −0.0034% | 8h | 3.0480 | +0.066% | $2.0M | $2.8M | 50x | as long as short |
| dYdX ICP-USD | 0.0000% | 1h | 3.0521 | +0.200% | $71K | $4K | 5x | as long as short |
| gTrade (Gains Network) ICP/USD | L +0.0006% / S −0.0010% | 1h | 3.0580 | +0.394% | $27K | — | 150x | as long as short |
| Injective ICP/USDC PERP | +0.0033% | 1h | 2.9665 | −2.610% | $202 | $200K | 12x | as long as short |
| Lighter ICP | +0.0096% | 1h | 3.0515 | +0.181% | $161K | $450K | 5x | as long as short |
| Aster ICPUSDT | +0.0100% | 8h | 3.0523 | +0.206% | $217K | $1.4M | 20x | as long as short |
| Pacifica ICP | +0.0100% | 1h | 3.0511 | +0.167% | $138K | $11K | 5x | as long as short |
Phemex ICPUSDT
Deribit ICP_USDC-PERPETUAL
Variational Omni ICP
Gate ICP_USDT
dYdX ICP-USD
gTrade (Gains Network) ICP/USD
Injective ICP/USDC PERP
Lighter ICP
Aster ICPUSDT
Pacifica ICPShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance ICPUSDT | +0.0100% | 8h | 3.0490 | +0.098% | $30.2M | $51.0M | 75x | as long as short |
| Bybit ICPUSDTlong | +0.0100% | 8h | 3.0460 | long leg | $17.8M | $18.1M | 75x | |
| OKX ICP-USDT-SWAP | +0.0100% | 8h | 3.0470 | +0.033% | $6.2M | $16.7M | 50x | as long as short |
| MEXC ICP_USDT | +0.0100% | 8h | 3.0500 | +0.131% | $19.4M | $9.1M | 50x | as long as short |
| KuCoin ICPUSDTM | +0.0100% | 8h | 3.0500 | +0.131% | $5.2M | $13.1M | 50x | as long as short |
| Bitget ICPUSDT | +0.0100% | 8h | 3.0490 | +0.098% | $7.0M | $4.6M | 50x | as long as short |
| BingX ICP-USDT | +0.0100% | 8h | 3.0470 | +0.033% | — | $4.9M | — | as long as short |
| edgeX ICPUSDC | +0.0100% | 4h | 3.0535 | +0.247% | $24K | $278K | 10x | as long as short |
| GRVT ICP_USDT_Perp | +0.0100% | 8h | 3.0587 | +0.417% | $586K | $435K | 10x | as long as short |
| SunX ICP-USDT | +0.0100% | 8h | 3.0510 | +0.164% | $2K | $1.8M | 20x | as long as short |
| HTX ICP-USDT | +0.0100% | 8h | 3.0530 | +0.230% | $108K | $220K | 20x | as long as short |
| Extended ICP-USD | +0.0104% | 1h | 3.0475 | +0.050% | $26K | $118K | 10x | as long as short |
| Hyperliquid ICPshort | +0.0160% | 1h | 3.0563 | +0.338% | $4.8M | $5.0M | 5x | |
| Kraken Futures PF_ICPUSD | +0.0170% | 1h | 3.0541 | +0.267% | $496K | $532K | 50x | as long as short |
| BloFin ICP-USDT | +0.0220% | 8h | 3.0520 | +0.197% | $1.2M | $2.3M | 75x | as long as short |
| Coinbase International ICP-PERP-INTX | +0.0240% | 1h | 3.0620 | +0.525% | $64K | $90K | 50x | as long as short |
| GMX ICP/USD [WBTC.b-USDC] | L +0.0549% / S −0.0540% | 1h | 3.0579 | +0.392% | $41K | — | 100x | as long as short |
Binance ICPUSDT
OKX ICP-USDT-SWAP
MEXC ICP_USDT
KuCoin ICPUSDTM
Bitget ICPUSDT
BingX ICP-USDT
edgeX ICPUSDC
GRVT ICP_USDT_Perp
SunX ICP-USDT
HTX ICP-USDT
Extended ICP-USD
Kraken Futures PF_ICPUSD
BloFin ICP-USDT
Coinbase International ICP-PERP-INTX
GMX ICP/USD [WBTC.b-USDC]