Funding you earn now, next payment 00:00 UTC−0.0123%/8h= −13.5% APRpaid last 24h −0.041%
Price spread now: Bybit against Hyperliquid−0.250%7-day average −0.094% · you buy dearer than you sell
Net, funding: paid 7d − costs−$62as in the Funding arb table
Net, price: spread back to 7d avg − costs−$63as in the Price arb table
costs, in and out, $10k−$480.478% of the position
Funding, last 7 days−0.139%−$14 on $10k
+Price spread, last 7 days+0.165%+$17 · spread now −0.250%, 7d avg −0.094%
=Together, before fees+0.026%+ Points / potential airdropHyperliquid: Season 2 · farm board+$3 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Bybit is 0.156% cheaper against Hyperliquid than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of −0.094%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid POL | 0.1122 | 0.0223 | pay 0.0028% / 1h | 7m 33s | $7.6M | $3.9M | 5x |
| Short | Bybit POLUSDT | 0.1119 | 0.0100 | get 0.0050% / 4h | 7m 33s | $16.1M | $15.1M | 75x |
Hyperliquid POL
Bybit POLUSDTFunding 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
- −$25.8
- Price spread: −0.250% → −0.094%
- −$15.55
- Slippage, 4 orders
- −$27.78
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$89.13
- Costs to cover
- 0.478%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 5 min ago; Bybit: live order book, 1 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, 5 min ago | 1.78 bp | 14.4 bp −$14 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 1 min ago | 0.45 bp | 13.3 bp −$13 | 34.0 bp −$340 | doesn't fit | doesn't fit |
POL on 25 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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International POL-PERP-INTX | −0.0128% | 1h | 0.1118 | −0.348% | $205K | $226K | 50x | as long as short |
| Kraken Futures PF_POLUSD | −0.0072% | 1h | 0.1122 | +0.005% | $1.2M | $1.8M | 50x | as long as short |
| Reya POLRUSDPERP | −0.0006% | 1h | 0.1121 | −0.092% | $3K | — | — | as long as short |
| gTrade (Gains Network) POL/USD | L +0.0004% / S −0.0007% | 1h | 0.1122 | −0.013% | $24K | — | 150x | as long as short |
| Orderly PERP_POL_USDC | +0.0012% | 4h | 0.1121 | −0.089% | $11K | $185K | 20x | as long as short |
| dYdX POL-USD | +0.0013% | 1h | 0.1121 | −0.076% | $17K | $3K | 5x | as long as short |
| Injective POL/USDC PERP | +0.0033% | 1h | 0.1111 | −0.972% | $3K | $124K | 12x | as long as short |
| Lighter POL | +0.0096% | 1h | 0.1120 | −0.155% | $299K | $572K | 8x | as long as short |
| Aster POLUSDT | +0.0100% | 4h | 0.1120 | −0.169% | $372K | $340K | 20x | as long as short |
| Binance POLUSDT | +0.0100% | 4h | 0.1120 | −0.209% | $17.2M | $49.7M | 75x | as long as short |
Coinbase International POL-PERP-INTX
Kraken Futures PF_POLUSD
Reya POLRUSDPERP
gTrade (Gains Network) POL/USD
Orderly PERP_POL_USDC
dYdX POL-USD
Injective POL/USDC PERP
Lighter POL
Aster POLUSDT
Binance POLUSDTShow all 25 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit POLUSDTshort | +0.0100% | 4h | 0.1119 | −0.250% | $16.1M | $15.1M | 75x | |
| OKX POL-USDT-SWAP | +0.0100% | 4h | 0.1119 | −0.223% | $5.8M | $11.6M | 50x | as long as short |
| Gate POL_USDT | +0.0100% | 4h | 0.1120 | −0.160% | $1.9M | $1.3M | 75x | as long as short |
| MEXC POL_USDT | +0.0100% | 4h | 0.1120 | −0.169% | $24.3M | $3.9M | 125x | as long as short |
| KuCoin POLUSDTM | +0.0100% | 4h | 0.1121 | −0.098% | $2.8M | $1.1M | 50x | as long as short |
| Bitget POLUSDT | +0.0100% | 4h | 0.1120 | −0.196% | $4.1M | $5.3M | 50x | as long as short |
| BingX POL-USDC | +0.0100% | 4h | 0.1119 | −0.232% | — | $1.7M | — | as long as short |
| Variational Omni POL | +0.0100% | 4h | 0.1117 | −0.433% | $660K | $183K | — | as long as short |
| GRVT POL_USDT_Perp | +0.0100% | 4h | 0.1121 | −0.110% | $1.1M | $3.2M | 10x | as long as short |
| ApeX Omni POLUSDT | +0.0100% | 1h | 0.1121 | −0.080% | $198K | $649K | 50x | as long as short |
| Extended POL-USD | +0.0104% | 1h | 0.1120 | −0.199% | $93K | $427K | 10x | as long as short |
| Aevo POL-PERP | +0.0104% | 1h | 0.1119 | −0.259% | $41K | — | 3x | as long as short |
| GMX POL/USD [ETH-USDC] | L +0.0217% / S −0.0750% | 1h | 0.1122 | −0.005% | $3K | — | 100x | as long as short |
| Hyperliquid POLlong | +0.0223% | 1h | 0.1122 | long leg | $7.6M | $3.9M | 5x | |
| BloFin POL-USDT | +0.0340% | 4h | 0.1120 | −0.152% | $909K | $163K | 75x | as long as short |
OKX POL-USDT-SWAP
Gate POL_USDT
MEXC POL_USDT
KuCoin POLUSDTM
Bitget POLUSDT
BingX POL-USDC
Variational Omni POL
GRVT POL_USDT_Perp
ApeX Omni POLUSDT
Extended POL-USD
Aevo POL-PERP
GMX POL/USD [ETH-USDC]
BloFin POL-USDT