Funding you earn now, next payment 22:00 UTC+0.0024%/8h= +2.7% APRpaid last 24h +0.016%
Price spread now: Hyperliquid against Bybit+0.074%7-day average +0.048% · you sell dearer than you buy
Net, funding: paid 7d − costs−$80as in the Funding arb table
Net, price: spread back to 7d avg − costs−$83as in the Price arb table
costs, in and out, $10k−$860.858% of the position
Funding, last 7 days+0.057%+$6 on $10k
+Price spread, last 7 days+0.026%+$3 · spread now +0.074%, 7d avg +0.048%
=Together, before fees+0.083%+ Points / potential airdropHyperliquid: Season 2 · farm board+$8 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 0.026% dearer against Bybit than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.048%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit PYTHUSDT | 0.06351 | 0.0076 | pay 0.0038% / 4h | 2h 52m | $7.5M | $5.0M | 50x |
| Short | Hyperliquid PYTH | 0.06356 | 0.0100 | get 0.0013% / 1h | 52m 08s | $1.7M | $1.4M | 5x |
Bybit PYTHUSDT
Hyperliquid PYTHFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $5.1
- Price spread: +0.074% → +0.048%
- $2.62
- Slippage, 4 orders
- −$65.81
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$78.08
- Costs to cover
- 0.858%
- Break-even
- 114.1 days
Slippage from Bybit: live order book, 1 min ago; Hyperliquid: live order book, 9 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 | 1.57 bp | 18.5 bp −$19 | 147.2 bp −$1,472 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 9 min ago | 1.10 bp | 21.4 bp −$21 | doesn't fit | doesn't fit | doesn't fit |
PYTH 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective PYTH/USDC PERP | −0.0586% | 1h | 0.06350 | −0.016% | $561 | $180K | 5.5x | as long as short |
| Kraken Futures PF_PYTHUSD | −0.0215% | 1h | 0.06355 | +0.063% | $385K | $240K | 25x | as long as short |
| Gate PYTH_USDT | −0.0118% | 4h | 0.06350 | −0.016% | $1.1M | $463K | 75x | as long as short |
| BloFin PYTH-USDT | −0.0046% | 4h | 0.06334 | −0.268% | $419K | $122K | 75x | as long as short |
| MEXC PYTH_USDT | −0.0018% | 4h | 0.06351 | 0.000% | $9.4M | $2.4M | 125x | as long as short |
| Binance PYTHUSDT | −0.0016% | 4h | 0.06351 | −0.001% | $9.0M | $16.0M | 75x | as long as short |
| dYdX PYTH-USD | 0.0000% | 1h | 0.06354 | +0.046% | $189K | $19 | 5x | as long as short |
| Deribit PYTH_USDC-PERPETUAL | 0.0000% | 1h | 0.06362 | +0.173% | $10K | $10K | 10x | as long as short |
| Coinbase International PYTH-PERP-INTX | +0.0048% | 1h | 0.06431 | +1.260% | $40K | $9K | 25x | as long as short |
| Bybit PYTHUSDTlong | +0.0076% | 4h | 0.06351 | long leg | $7.5M | $5.0M | 50x |
Injective PYTH/USDC PERP
Kraken Futures PF_PYTHUSD
Gate PYTH_USDT
BloFin PYTH-USDT
MEXC PYTH_USDT
Binance PYTHUSDT
dYdX PYTH-USD
Deribit PYTH_USDC-PERPETUAL
Coinbase International PYTH-PERP-INTXShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aevo PYTH-PERP | +0.0080% | 1h | 0.06400 | +0.773% | $23K | — | 3x | as long as short |
| Lighter PYTH | +0.0096% | 1h | 0.06359 | +0.126% | $197K | $203K | 5x | as long as short |
| Paradex PYTH-USD-PERP | +0.0098% | 8h | 0.06352 | +0.018% | $3K | $56 | 10x | as long as short |
| Hyperliquid PYTHshort | +0.0100% | 1h | 0.06356 | +0.074% | $1.7M | $1.4M | 5x | |
| Aster PYTHUSDT | +0.0100% | 4h | 0.06356 | +0.084% | $20K | $26K | 10x | as long as short |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06350 | −0.016% | $2.1M | $3.3M | 50x | as long as short |
| KuCoin PYTHUSDTM | +0.0100% | 4h | 0.06357 | +0.094% | $1.5M | $311K | 50x | as long as short |
| Bitget PYTHUSDT | +0.0100% | 4h | 0.06352 | +0.016% | $2.6M | $1.9M | 75x | as long as short |
| BingX PYTH-USDT | +0.0100% | 4h | 0.06351 | 0.000% | — | $2.8M | — | as long as short |
| Variational Omni PYTH | +0.0100% | 4h | 0.06358 | +0.110% | $44K | $23K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06354 | +0.049% | $3K | $1K | 10x | as long as short |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06350 | −0.010% | — | — | 20x | as long as short |
| Backpack PYTH_USDC_PERP | +0.0453% | 1h | 0.06358 | +0.109% | $38K | $88K | 10x | as long as short |
Aevo PYTH-PERP
Lighter PYTH
Paradex PYTH-USD-PERP
Aster PYTHUSDT
OKX PYTH-USDT-SWAP
KuCoin PYTHUSDTM
Bitget PYTHUSDT
BingX PYTH-USDT
Variational Omni PYTH
Orderly PERP_PYTH_USDC_mythos
Reya PYTHRUSDPERP
Backpack PYTH_USDC_PERP