Funding you earn now, next payment 23:00 UTC−0.1248%/8h= −136.6% APRpaid last 24h −0.152%
Price spread now: Bybit against Hyperliquid−0.289%7-day average −0.170% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.525%−$52 on $10k
+Price spread, last 7 days+0.159%+$16 · spread now −0.289%, 7d avg −0.170%
=Together, before fees−0.366%+ Points / potential airdropHyperliquid: Season 2 · farm board−$37 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$37 a day on $10k at the current rate, and Bybit is 0.119% cheaper against Hyperliquid than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.170%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.525% in total (about -27.4% 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 MEGA | 0.04469 | 0.1348 | pay 0.0168% / 1h | 50m 48s | $7.6M | $2.4M | 3x |
| Short | Bybit MEGAUSDT | 0.04456 | 0.0100 | get 0.0050% / 4h | 1h 50m | $3.4M | $4.9M | 20x |
Hyperliquid MEGA
Bybit MEGAUSDTFunding 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
- −$261.98
- Price spread: −0.289% → −0.170%
- −$11.91
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$293.88
- Costs to cover
- 0.200%
- Break-even
- never at this rate
Slippage unknown: Hyperliquid: live order book, 11 min ago; Bybit: live order book, 2 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 Hyperliquid live order book, 11 min ago | 3.01 bp | 12.3 bp −$12 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 2 min ago | 1.12 bp | 33.3 bp −$33 | 139.7 bp −$1,397 | doesn't fit | doesn't fit |
MEGA on 28 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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International MEGA-PERP-INTX | −0.0144% | 1h | 0.04490 | +0.481% | $5K | $12K | 50x | as long as short |
| gTrade (Gains Network) MEGA/USD | L −0.0018% / S +0.0023% | 1h | 0.04457 | −0.273% | $12K | — | 150x | as long as short |
| Nado MEGA-PERP | +0.0050% | 1h | 0.04458 | −0.233% | $193K | $152K | 2x | as long as short |
| BloFin MEGA-USDT | +0.0081% | 4h | 0.04461 | −0.177% | $196K | $76K | 50x | as long as short |
| Orderly PERP_MEGA_USDC | +0.0098% | 4h | 0.04459 | −0.222% | $3K | $2K | 10x | as long as short |
| Aster MEGAUSDT | +0.0100% | 4h | 0.04460 | −0.205% | $20K | $82K | 5x | as long as short |
| Pacifica MEGA | +0.0100% | 1h | 0.04460 | −0.197% | $14K | $9K | 3x | as long as short |
| Binance MEGAUSDT | +0.0100% | 4h | 0.04459 | −0.214% | $3.9M | $12.8M | 50x | as long as short |
| Bybit MEGAUSDTshort | +0.0100% | 4h | 0.04456 | −0.289% | $3.4M | $4.9M | 20x | |
| OKX MEGA-USDT-SWAP | +0.0100% | 4h | 0.04461 | −0.177% | $913K | $2.9M | 20x | as long as short |
Coinbase International MEGA-PERP-INTX
gTrade (Gains Network) MEGA/USD
Nado MEGA-PERP
BloFin MEGA-USDT
Orderly PERP_MEGA_USDC
Aster MEGAUSDT
Pacifica MEGA
Binance MEGAUSDT
OKX MEGA-USDT-SWAPShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bulk MEGA-USD | +0.0100% | 1h | 0.04465 | −0.087% | $132K | $5K | 10x | as long as short |
| Gate MEGA_USDT | +0.0100% | 4h | 0.04460 | −0.199% | $190K | $310K | 20x | as long as short |
| MEXC MEGA_USDT | +0.0100% | 4h | 0.04459 | −0.222% | $762K | $345K | 50x | as long as short |
| KuCoin MEGAUSDTM | +0.0100% | 4h | 0.04463 | −0.132% | $235K | $113K | 50x | as long as short |
| Bitget MEGAUSDT | +0.0100% | 4h | 0.04461 | −0.177% | $1.1M | $1.4M | 50x | as long as short |
| BingX MEGA-USDT | +0.0100% | 4h | 0.04457 | −0.266% | — | $1.7M | — | as long as short |
| Variational Omni MEGA | +0.0100% | 4h | 0.04473 | +0.094% | $238K | $109K | — | as long as short |
| GRVT MEGA_USDT_Perp | +0.0100% | 4h | 0.04472 | +0.069% | $21K | $1.7M | 10x | as long as short |
| ApeX Omni MEGAUSDT | +0.0100% | 1h | 0.04460 | −0.199% | $24K | $230K | 50x | as long as short |
| SunX MEGA-USDT | +0.0100% | 4h | 0.04458 | −0.244% | $2K | $1.9M | 10x | as long as short |
| Extended MEGA-USD | +0.0104% | 1h | 0.04457 | −0.270% | $127K | $613K | 5x | as long as short |
| Reya MEGARUSDPERP | +0.0159% | 1h | 0.04458 | −0.239% | $3 | — | 3x | as long as short |
| Phoenix MEGA | +0.0179% | 1h | 0.04470 | +0.025% | $20K | $7K | 5x | as long as short |
| GMX MEGA/USD [ETH-USDC] | L +0.0236% / S −0.5353% | 1h | 0.04457 | −0.273% | $3K | — | 45x | as long as short |
| Backpack MEGA_USDC_PERP | +0.0639% | 1h | 0.04461 | −0.177% | $18K | $41K | 5x | as long as short |
| Deribit MEGA_USDC-PERPETUAL | +0.1006% | 1h | 0.04463 | −0.130% | $108 | $15 | 25x | as long as short |
| Lighter MEGA | +0.1328% | 1h | 0.04479 | +0.226% | $619K | $311K | 3x | as long as short |
| Hyperliquid MEGAlong | +0.1348% | 1h | 0.04469 | long leg | $7.6M | $2.4M | 3x |
Bulk MEGA-USD
Gate MEGA_USDT
MEXC MEGA_USDT
KuCoin MEGAUSDTM
Bitget MEGAUSDT
BingX MEGA-USDT
Variational Omni MEGA
GRVT MEGA_USDT_Perp
ApeX Omni MEGAUSDT
SunX MEGA-USDT
Extended MEGA-USD
Reya MEGARUSDPERP
Phoenix MEGA
GMX MEGA/USD [ETH-USDC]
Backpack MEGA_USDC_PERP
Deribit MEGA_USDC-PERPETUAL
Lighter MEGA