Funding you earn now, next payment 22:00 UTC−0.0528%/8h= −57.8% APRpaid last 24h −0.035%
Price spread now: Bybit against Hyperliquid−0.089%7-day average −0.120% · you buy dearer than you sell
Net, funding: paid 7d − costs−$114as in the Funding arb table
Net, price: spread back to 7d avg − costs−$87as in the Price arb table
costs, in and out, $10k−$900.900% of the position
Funding, last 7 days−0.239%−$24 on $10k
+Price spread, last 7 days−0.022%−$2 · spread now −0.089%, 7d avg −0.120%
=Together, before fees−0.261%+ Points / potential airdropHyperliquid: Season 2 · farm board−$26 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Bybit is 0.031% dearer against Hyperliquid than usual: you sell high and buy low (spread −0.089% now, against its 7-day average of −0.120%): +$3 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 5 hours. At the pace of the last 7 days (−0.239% in total) that is about 22 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.239% in total (about -12.4% 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 CHIP | 0.04622 | 0.0100 | pay 0.0013% / 1h | 56m 14s | $15.0M | $6.5M | 3x |
| Short | Bybit CHIPUSDT | 0.04618 | −0.0428 | pay 0.0214% / 4h | 2h 56m | $10.8M | $8.9M | 20x |
Hyperliquid CHIP
Bybit CHIPUSDTFunding 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
- −$110.82
- Price spread: −0.089% → −0.120%
- $3.14
- Slippage, 4 orders
- −$69.96
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$197.64
- Costs to cover
- 0.900%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 7 min ago; Bybit: 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 Hyperliquid live order book, 7 min ago | 1.08 bp | 16.5 bp −$16 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 2 min ago | 3.24 bp | 29.4 bp −$29 | 126.3 bp −$1,263 | doesn't fit | doesn't fit |
CHIP on 23 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 | |
|---|---|---|---|---|---|---|---|---|
| Backpack CHIP_USDC_PERP | −0.1835% | 1h | 0.04618 | −0.089% | $16K | $234K | 5x | as long as short |
| ApeX Omni CHIPUSDT | −0.0544% | 1h | 0.04629 | +0.149% | $14K | $249K | 50x | as long as short |
| Bybit CHIPUSDTshort | −0.0428% | 4h | 0.04618 | −0.089% | $10.8M | $8.9M | 20x | |
| Phoenix CHIP | −0.0338% | 1h | 0.04628 | +0.128% | $3K | $142K | 5x | as long as short |
| Nado CHIP-PERP | −0.0242% | 1h | 0.04610 | −0.262% | $231K | $18K | 5x | as long as short |
| OKX CHIP-USDT-SWAP | −0.0141% | 4h | 0.04610 | −0.262% | $1.9M | $9.1M | 20x | as long as short |
| Extended CHIP-USD | −0.0064% | 1h | 0.04610 | −0.251% | $210K | $1.3M | 5x | as long as short |
| Binance CHIPUSDT | −0.0063% | 4h | 0.04610 | −0.262% | $13.9M | $25.5M | 50x | as long as short |
| MEXC CHIP_USDT | −0.0060% | 4h | 0.04610 | −0.262% | $1.8M | $1.2M | 50x | as long as short |
| Aster CHIPUSDT | −0.0060% | 4h | 0.04625 | +0.058% | $41K | $222K | 5x | as long as short |
Backpack CHIP_USDC_PERP
ApeX Omni CHIPUSDT
Phoenix CHIP
Nado CHIP-PERP
OKX CHIP-USDT-SWAP
Extended CHIP-USD
Binance CHIPUSDT
MEXC CHIP_USDT
Aster CHIPUSDTShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BloFin CHIP-USDT | −0.0056% | 4h | 0.04615 | −0.154% | $499K | $70K | 50x | as long as short |
| Deribit CHIP_USDC-PERPETUAL | 0.0000% | 1h | 0.04620 | −0.037% | $10K | $24K | 10x | as long as short |
| Lighter CHIP | +0.0096% | 1h | 0.04618 | −0.089% | $86K | $110K | 3x | as long as short |
| Hyperliquid CHIPlong | +0.0100% | 1h | 0.04622 | long leg | $15.0M | $6.5M | 3x | |
| Pacifica CHIP | +0.0100% | 1h | 0.04620 | −0.045% | $13K | $628 | 3x | as long as short |
| Gate CHIP_USDT | +0.0100% | 4h | 0.04624 | +0.041% | $703K | $890K | 50x | as long as short |
| KuCoin CHIPUSDTM | +0.0100% | 4h | 0.04623 | +0.019% | $989K | $1.0M | 50x | as long as short |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04617 | −0.110% | $1.9M | $3.0M | 50x | as long as short |
| BingX CHIP-USDT | +0.0100% | 4h | 0.04614 | −0.175% | — | $1.9M | — | as long as short |
| Variational Omni CHIP | +0.0100% | 4h | 0.04633 | +0.227% | $843K | $463K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04609 | −0.283% | $857 | $1.0M | 10x | as long as short |
| Aftermath Perps CHIPUSD | +0.0108% | 1h | 0.04630 | +0.176% | $53 | $39K | 5x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0816% | 1h | 0.04757 | +2.908% | $46K | $41K | 50x | as long as short |
BloFin CHIP-USDT
Deribit CHIP_USDC-PERPETUAL
Lighter CHIP
Pacifica CHIP
Gate CHIP_USDT
KuCoin CHIPUSDTM
Bitget CHIPUSDT
BingX CHIP-USDT
Variational Omni CHIP
SunX CHIP-USDT
Aftermath Perps CHIPUSD
Coinbase International CHIP-PERP-INTX