Funding you earn now, next payment 22:00 UTC−0.0244%/8h= −26.7% APRpaid last 24h −0.016%
Price spread now: Bybit against Hyperliquid−0.030%7-day average −0.048% · you buy dearer than you sell
Net, funding: paid 7d − costs−$103as in the Funding arb table
Net, price: spread back to 7d avg − costs−$96as in the Price arb table
costs, in and out, $10k−$970.973% of the position
Funding, last 7 days−0.057%−$6 on $10k
+Price spread, last 7 days−0.064%−$6 · spread now −0.030%, 7d avg −0.048%
=Together, before fees−0.121%+ Points / potential airdropHyperliquid: Season 2 · farm board−$12 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.048%, so right now this pair is about funding alone: −$7 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.057% in total (about -3.0% 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 PYTH | 0.06344 | 0.0100 | pay 0.0013% / 1h | 40m 07s | $1.7M | $1.5M | 5x |
| Short | Bybit PYTHUSDT | 0.06342 | −0.0144 | pay 0.0072% / 4h | 2h 40m | $7.5M | $5.0M | 50x |
Hyperliquid PYTH
Bybit PYTHUSDTFunding 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
- −$51.25
- Price spread: −0.030% → −0.048%
- $1.79
- Slippage, 4 orders
- −$77.31
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$146.77
- Costs to cover
- 0.973%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 11 min ago; Bybit: live order book, 3 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, 11 min ago | 1.26 bp | 17.4 bp −$17 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 3 min ago | 2.37 bp | 32.2 bp −$32 | 83.9 bp −$839 | 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 | +0.096% | $561 | $180K | 5.5x | as long as short |
| Kraken Futures PF_PYTHUSD | −0.0216% | 1h | 0.06345 | +0.017% | $384K | $240K | 25x | as long as short |
| Bybit PYTHUSDTshort | −0.0144% | 4h | 0.06342 | −0.030% | $7.5M | $5.0M | 50x | |
| Gate PYTH_USDT | −0.0144% | 4h | 0.06335 | −0.140% | $1.1M | $464K | 75x | as long as short |
| BloFin PYTH-USDT | −0.0073% | 4h | 0.06333 | −0.172% | $426K | $121K | 75x | as long as short |
| Binance PYTHUSDT | −0.0017% | 4h | 0.06338 | −0.093% | $9.1M | $15.9M | 75x | as long as short |
| MEXC PYTH_USDT | −0.0016% | 4h | 0.06338 | −0.093% | $9.4M | $2.4M | 125x | as long as short |
| dYdX PYTH-USD | 0.0000% | 1h | 0.06347 | +0.049% | $188K | $19 | 5x | as long as short |
| Deribit PYTH_USDC-PERPETUAL | 0.0000% | 1h | 0.06351 | +0.112% | $10K | $10K | 10x | as long as short |
| Coinbase International PYTH-PERP-INTX | +0.0048% | 1h | 0.06431 | +1.373% | $40K | $6K | 25x | as long as short |
Injective PYTH/USDC PERP
Kraken Futures PF_PYTHUSD
Gate PYTH_USDT
BloFin PYTH-USDT
Binance PYTHUSDT
MEXC PYTH_USDT
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 | 0.06340 | −0.061% | $23K | — | 3x | as long as short |
| Lighter PYTH | +0.0096% | 1h | 0.06349 | +0.080% | $196K | $205K | 5x | as long as short |
| Paradex PYTH-USD-PERP | +0.0099% | 8h | 0.06336 | −0.130% | $3K | $56 | 10x | as long as short |
| Hyperliquid PYTHlong | +0.0100% | 1h | 0.06344 | long leg | $1.7M | $1.5M | 5x | |
| Aster PYTHUSDT | +0.0100% | 4h | 0.06337 | −0.109% | $20K | $24K | 10x | as long as short |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06339 | −0.077% | $2.1M | $3.3M | 50x | as long as short |
| KuCoin PYTHUSDTM | +0.0100% | 4h | 0.06341 | −0.046% | $1.5M | $308K | 50x | as long as short |
| Bitget PYTHUSDT | +0.0100% | 4h | 0.06345 | +0.017% | $2.6M | $1.9M | 75x | as long as short |
| BingX PYTH-USDT | +0.0100% | 4h | 0.06339 | −0.077% | — | $2.8M | — | as long as short |
| Variational Omni PYTH | +0.0100% | 4h | 0.06334 | −0.163% | $44K | $23K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06341 | −0.047% | $3K | $1K | 10x | as long as short |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06340 | −0.060% | — | — | 20x | as long as short |
| Backpack PYTH_USDC_PERP | +0.0316% | 1h | 0.06347 | +0.043% | $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