Funding you earn now, next payment 05:00 UTC+0.1063%/8h= +116.4% APRpaid last 24h +0.418%
Price spread now: Hyperliquid against Bybit−0.137%7-day average +0.134% · you buy dearer than you sell
Net, funding: paid 7d − costs−$86as in the Funding arb table
Net, price: spread back to 7d avg − costs−$172as in the Price arb table
costs, in and out, $10k−$1451.452% of the position
Funding, last 7 days+0.595%+$59 on $10k
+Price spread, last 7 days+0.270%+$27 · spread now −0.137%, 7d avg +0.134%
=Together, before fees+0.865%+ Points / potential airdropHyperliquid: Season 2 · farm board+$86 on $10k · with fees, hour by hour
Funding pays, the price is against you. Hyperliquid is 0.271% cheaper against Bybit than usual: you would sell low and buy high (spread −0.137% now, against its 7-day average of +0.134%). If the spread goes back, that is −$27 on $10k: about 20 hours of funding at the current rate (+$32 a day). At the pace of the last 7 days (+0.595% in total) that is about 3.2 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.595% in total (about 31.0% 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 | Bybit NILUSDT | 0.06940 | 0.0100 | pay 0.0050% / 4h | 3h 10m | $3.8M | $13.6M | 20x |
| Short | Hyperliquid NIL | 0.06931 | 0.1163 | get 0.0145% / 1h | 10m 14s | $4.3M | $4.7M | 3x |
Bybit NILUSDT
Hyperliquid NILFunding 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
- $223.21
- Price spread: −0.137% → +0.134%
- −$27.09
- Slippage, 4 orders
- −$125.15
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $50.96
- Costs to cover
- 1.452%
- Break-even
- 5.4 days
Slippage from Bybit: live order book, 3 min ago; Hyperliquid: 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 Bybit live order book, 3 min ago | 8.59 bp | 48.4 bp −$48 | 269.8 bp −$2,698 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 2 min ago | 3.17 bp | 20.4 bp −$20 | doesn't fit | doesn't fit | doesn't fit |
NIL on 12 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 NILUSDT | +0.0100% | 4h | 0.06925 | −0.212% | $23K | $315K | 5x | as long as short |
| Binance NILUSDT | +0.0100% | 4h | 0.06925 | −0.210% | $5.3M | $73.1M | 50x | as long as short |
| Bybit NILUSDTlong | +0.0100% | 4h | 0.06940 | long leg | $3.8M | $13.6M | 20x | |
| Gate NIL_USDT | +0.0100% | 4h | 0.06915 | −0.360% | $450K | $2.0M | 50x | as long as short |
| MEXC NIL_USDT | +0.0100% | 4h | 0.06921 | −0.274% | $2.2M | $4.2M | 100x | as long as short |
| KuCoin NILUSDTM | +0.0100% | 4h | 0.06925 | −0.216% | $582K | $690K | 30x | as long as short |
| Bitget NILUSDT | +0.0100% | 4h | 0.06926 | −0.202% | $1.9M | $8.5M | 50x | as long as short |
| BingX NIL-USDT | +0.0100% | 4h | 0.06924 | −0.231% | — | $8.4M | — | as long as short |
| Variational Omni NIL | +0.0100% | 4h | 0.06938 | −0.026% | $178K | $264K | — | as long as short |
| Extended NIL-USD | +0.0104% | 1h | 0.06922 | −0.259% | $17K | $172K | 5x | as long as short |
Aster NILUSDT
Binance NILUSDT
Gate NIL_USDT
MEXC NIL_USDT
KuCoin NILUSDTM
Bitget NILUSDT
BingX NIL-USDT
Variational Omni NIL
Extended NIL-USDShow all 12 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BloFin NIL-USDT | +0.0136% | 4h | 0.06930 | −0.144% | $345K | $125K | 50x | as long as short |
| Hyperliquid NILshort | +0.1163% | 1h | 0.06931 | −0.137% | $4.3M | $4.7M | 3x |
BloFin NIL-USDT