Funding arb · Price arb /

COMP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Hyperliquid against Bybit+0.103%7-day average +0.047% · you sell dearer than you buy

Net, funding: paid 7d − costs−$111as in the Funding arb table

Net, price: spread back to 7d avg − costs−$105as in the Price arb table

costs, in and out, $10k−$1111.106% of the position

Long on Bybit Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 7 days−0.044%−$4 · spread now +0.103%, 7d avg +0.047%

Together, before fees−0.044%+ Points / potential airdropHyperliquid: Season 2 · farm board−$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.056% dearer against Bybit than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit COMPUSDT	22.290	0.0100	pay 0.0100% / 8h	2h 56m	$3.8M	$2.2M	75x
Short	Hyperliquid COMP	22.313	0.0100	get 0.0013% / 1h	56m 04s	$839K	$542K	5x

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

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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 +0.103%Rate

Funding earned: $0
Price spread: +0.103% → +0.047%: $5.6
Slippage, 4 orders: −$90.62
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$105.01
Costs to cover: 1.106%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; Hyperliquid: live order book, 29 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	2.24 bp	31.8 bp −$32	76.9 bp −$769	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 29 min ago	2.23 bp	26.6 bp −$27	doesn't fit	doesn't fit	doesn't fit

COMP on 16 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
Injective COMP/USDC PERP	−0.1289%	1h	22.260	−0.135%	$4K	$12K	12x	as long as short
Kraken Futures PF_COMPUSD	−0.0850%	1h	22.340	+0.223%	$235K	$85K	20x	as long as short
Deribit COMP_USDC-PERPETUAL	−0.0647%	1h	22.280	−0.045%	$227	$229	50x	as long as short
Coinbase International COMP-PERP-INTX	−0.0024%	1h	22.320	+0.135%	$18K	$53K	25x	as long as short
dYdX COMP-USD	0.0000%	1h	22.290	0.000%	$67K	—	5x	as long as short
Hyperliquid COMPshort	+0.0100%	1h	22.313	+0.103%	$839K	$542K	5x
Binance COMPUSDT	+0.0100%	8h	22.290	0.000%	$4.2M	$8.3M	75x	as long as short
Bybit COMPUSDTlong	+0.0100%	8h	22.290	long leg	$3.8M	$2.2M	75x
OKX COMP-USDT-SWAP	+0.0100%	8h	22.290	0.000%	$1.6M	$2.3M	20x	as long as short
Gate COMP_USDT	+0.0100%	8h	22.270	−0.090%	$219K	$82K	25x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC COMP_USDT	+0.0100%	8h	22.290	0.000%	$2.9M	$799K	20x	as long as short
KuCoin COMPUSDTM	+0.0100%	8h	22.300	+0.045%	$451K	$112K	30x	as long as short
Bitget COMPUSDT	+0.0100%	8h	22.300	+0.045%	$1.9M	$771K	75x	as long as short
BingX COMP-USDT	+0.0100%	8h	22.280	−0.045%	—	$36.3M	—	as long as short
Variational Omni COMP	+0.0100%	8h	22.320	+0.136%	$15K	$39K	—	as long as short
BloFin COMP-USDT	+0.0112%	8h	22.290	0.000%	$239K	$155K	20x	as long as short