Funding you earn now, next payment 04:00 UTC−0.1599%/8h= −175.0% APRpaid last 24h −0.119%
Price spread now: Bybit against Hyperliquid−0.184%7-day average −0.122% · you buy dearer than you sell
Net, funding: paid 7d − costs−$129as in the Funding arb table
Net, price: spread back to 7d avg − costs−$120as in the Price arb table
costs, in and out, $10k−$1131.134% of the position
Funding, last 7 days−0.160%−$16 on $10k
+Price spread, last 7 days+0.160%+$16 · spread now −0.184%, 7d avg −0.122%
=Together, before fees0.000%+ Points / potential airdropHyperliquid: Season 2 · farm board$0 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$48 a day on $10k at the current rate, and Bybit is 0.063% cheaper against Hyperliquid than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.122%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.160% in total (about -8.4% 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 RUNE | 0.6344 | 0.1699 | pay 0.0212% / 1h | 48m 08s | $1.7M | $1.0M | 5x |
| Short | Bybit RUNEUSDT | 0.6332 | 0.0100 | get 0.0100% / 8h | 4h 48m | $2.8M | $2.8M | 75x |
Hyperliquid RUNE
Bybit RUNEUSDTFunding 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
- −$335.71
- Price spread: −0.184% → −0.122%
- −$6.26
- Slippage, 4 orders
- −$93.43
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$455.4
- Costs to cover
- 1.134%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 3 min ago; Bybit: live order book, 4 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, 3 min ago | 1.42 bp | 21.9 bp −$22 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 4 min ago | 3.16 bp | 33.9 bp −$34 | 65.3 bp −$653 | doesn't fit | doesn't fit |
RUNE 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX RUNE-USD | +0.0005% | 1h | 0.6334 | −0.146% | $27K | $32K | 5x | as long as short |
| Injective RUNE/USDC PERP | +0.0033% | 1h | 0.6155 | −2.975% | $7 | $14 | 12x | as long as short |
| Deribit RUNE_USDC-PERPETUAL | +0.0066% | 1h | 0.6335 | −0.137% | — | — | 10x | as long as short |
| Binance RUNEUSDT | +0.0100% | 8h | 0.6330 | −0.216% | $4.8M | $15.6M | 75x | as long as short |
| Bybit RUNEUSDTshort | +0.0100% | 8h | 0.6332 | −0.184% | $2.8M | $2.8M | 75x | |
| Gate RUNE_USDT | +0.0100% | 8h | 0.6338 | −0.090% | $628K | $366K | 50x | as long as short |
| MEXC RUNE_USDT | +0.0100% | 8h | 0.6330 | −0.216% | $3.5M | $3.5M | 125x | as long as short |
| KuCoin RUNEUSDTM | +0.0100% | 8h | 0.6333 | −0.169% | $910K | $332K | 50x | as long as short |
| Bitget RUNEUSDT | +0.0100% | 8h | 0.6339 | −0.074% | $1.5M | $771K | 50x | as long as short |
| BingX RUNE-USDT | +0.0100% | 8h | 0.6333 | −0.169% | — | $59.0M | — | as long as short |
dYdX RUNE-USD
Injective RUNE/USDC PERP
Deribit RUNE_USDC-PERPETUAL
Binance RUNEUSDT
Gate RUNE_USDT
MEXC RUNE_USDT
KuCoin RUNEUSDTM
Bitget RUNEUSDT
BingX RUNE-USDTShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni RUNE | +0.0100% | 8h | 0.6324 | −0.304% | $186K | $67K | — | as long as short |
| Extended RUNE-USD | +0.0104% | 1h | 0.6332 | −0.183% | $4K | $164K | 10x | as long as short |
| BloFin RUNE-USDT | +0.0127% | 8h | 0.6329 | −0.232% | $448K | $193K | 75x | as long as short |
| Coinbase International RUNE-PERP-INTX | +0.0680% | 1h | 0.6381 | +0.588% | $37K | $31K | 25x | as long as short |
| Kraken Futures PF_RUNEUSD | +0.0990% | 1h | 0.6335 | −0.140% | $181K | $286K | 20x | as long as short |
| Hyperliquid RUNElong | +0.1699% | 1h | 0.6344 | long leg | $1.7M | $1.0M | 5x |
Variational Omni RUNE
Extended RUNE-USD
BloFin RUNE-USDT
Coinbase International RUNE-PERP-INTX
Kraken Futures PF_RUNEUSD