Funding you earn now, next payment 03:00 UTC−0.1699%/8h= −186.1% APRpaid last 24h −0.397%
Price spread now: Bybit against Hyperliquid−1.097%7-day average −0.134% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.567%−$57 on $10k
+Price spread, last 7 days+0.965%+$97 · spread now −1.097%, 7d avg −0.134%
=Together, before fees+0.399%+ Points / potential airdropHyperliquid: Season 2 · farm board+$40 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$51 a day on $10k at the current rate, and Bybit is 0.963% cheaper against Hyperliquid than usual: you would sell low and buy high (−$96 if the spread goes back to its 7-day average of −0.134%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.567% in total (about -29.5% 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 NIL | 0.07129 | 0.1799 | pay 0.0225% / 1h | 41m 37s | $4.4M | $4.5M | 3x |
| Short | Bybit NILUSDT | 0.07051 | 0.0100 | get 0.0050% / 4h | 1h 41m | $3.9M | $13.8M | 20x |
Hyperliquid NIL
Bybit NILUSDTFunding 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
- −$356.86
- Price spread: −1.097% → −0.134%
- −$96.25
- 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
- −$473.12
- Costs to cover
- 0.200%
- Break-even
- never at this rate
Slippage unknown: Hyperliquid: live order book, 10 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, 10 min ago | 1.22 bp | doesn't fit | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 2 min ago | 5.58 bp | 41.1 bp −$41 | 192.2 bp −$1,922 | 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin NIL-USDT | +0.0096% | 4h | 0.07062 | −0.943% | $364K | $127K | 50x | as long as short |
| Aster NILUSDT | +0.0100% | 4h | 0.07100 | −0.407% | $24K | $344K | 5x | as long as short |
| Binance NILUSDT | +0.0100% | 4h | 0.07087 | −0.598% | $5.6M | $75.5M | 50x | as long as short |
| Bybit NILUSDTshort | +0.0100% | 4h | 0.07051 | −1.097% | $3.9M | $13.8M | 20x | |
| Gate NIL_USDT | +0.0100% | 4h | 0.07079 | −0.704% | $436K | $2.0M | 50x | as long as short |
| MEXC NIL_USDT | +0.0100% | 4h | 0.07078 | −0.718% | $2.4M | $4.3M | 100x | as long as short |
| KuCoin NILUSDTM | +0.0100% | 4h | 0.07068 | −0.858% | $592K | $693K | 30x | as long as short |
| Bitget NILUSDT | +0.0100% | 4h | 0.07081 | −0.676% | $1.8M | $8.2M | 50x | as long as short |
| BingX NIL-USDT | +0.0100% | 4h | 0.07078 | −0.718% | — | $8.4M | — | as long as short |
| Extended NIL-USD | +0.0104% | 1h | 0.07076 | −0.746% | $17K | $96K | 5x | as long as short |
BloFin NIL-USDT
Aster NILUSDT
Binance NILUSDT
Gate NIL_USDT
MEXC NIL_USDT
KuCoin NILUSDTM
Bitget NILUSDT
BingX NIL-USDT
Extended NIL-USDShow all 12 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni NIL | +0.0217% | 4h | 0.07276 | +2.055% | $197K | $273K | — | as long as short |
| Hyperliquid NILlong | +0.1799% | 1h | 0.07129 | long leg | $4.4M | $4.5M | 3x |
Variational Omni NIL