Funding arb · Price arb /

AZTEC

all AZTEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0026%/8h= +2.9% APRpaid last 24h +0.046%

Price spread now: Hyperliquid against Bybit+0.246%7-day average +0.146% · you sell dearer than you buy

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs−$131as in the Price arb table

costs, in and out, $10k−$1411.406% of the position

Long on Bybit Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.638%+$64 on $10k

Price spread, last 7 days−0.164%−$16 · spread now +0.246%, 7d avg +0.146%

Together, before fees+0.474%+ Points / potential airdropHyperliquid: Season 2 · farm board+$47 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Hyperliquid is 0.101% dearer against Bybit than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.146%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AZTECUSDT	0.01623	0.0100	pay 0.0050% / 4h	5m 26s	$1.5M	$1.3M	25x
Short	Hyperliquid AZTEC	0.01627	0.0126	get 0.0016% / 1h	5m 26s	$1.1M	$1.2M	3x

Funding 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 it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BybitbpFee HyperliquidbpOrdersPrice spread, now +0.246%Rate

Funding earned: $5.53
Price spread: +0.246% → +0.146%: $10.09
Slippage, 4 orders: −$120.62
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$125
Costs to cover: 1.406%
Break-even: 165.3 days

Slippage from Bybit: live order book, 1 min ago; Hyperliquid: live order book, 5 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, 1 min ago	6.16 bp	41.9 bp −$42	311.2 bp −$3,112	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 5 min ago	1.85 bp	32.9 bp −$33	doesn't fit	doesn't fit	doesn't fit

AZTEC on 14 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
BingX AZTEC-USDT	+0.0070%	4h	0.01625	+0.123%	—	$1.6M	—	as long as short
Lighter AZTEC	+0.0096%	1h	0.01622	−0.031%	$72K	$100K	3x	as long as short
Bybit AZTECUSDTlong	+0.0100%	4h	0.01623	long leg	$1.5M	$1.3M	25x
Gate AZTEC_USDT	+0.0100%	8h	0.01622	−0.062%	$296K	$429K	25x	as long as short
Bitget AZTECUSDT	+0.0100%	4h	0.01626	+0.185%	$351K	$279K	20x	as long as short
Variational Omni AZTEC	+0.0100%	4h	0.01623	−0.013%	$65K	$80K	—	as long as short
Hyperliquid AZTECshort	+0.0126%	1h	0.01627	+0.246%	$1.1M	$1.2M	3x
OKX AZTEC-USDT-SWAP	+0.0133%	4h	0.01626	+0.185%	$362K	$877K	20x	as long as short
BloFin AZTEC-USDT	+0.0314%	4h	0.01622	−0.062%	$96K	$30K	25x	as long as short
MEXC AZTEC_USDT	+0.0342%	4h	0.01625	+0.123%	$236K	$115K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended AZTEC-USD	+0.0344%	1h	0.01624	+0.073%	$57K	$383K	5x	as long as short
Aster AZTECUSDT	+0.0346%	4h	0.01622	−0.049%	$7K	$21K	5x	as long as short
Binance AZTECUSDT	+0.0349%	4h	0.01625	+0.123%	$1.9M	$4.1M	25x	as long as short
KuCoin AZTECUSDTM	+0.0596%	4h	0.01623	0.000%	$285K	$286K	20x	as long as short