Funding you earn now, next payment 00:00 UTC+0.0191%/8h= +20.9% APRpaid last 24h +0.028%
Price spread now: Bybit against Hyperliquid+0.093%7-day average +0.006% · you sell dearer than you buy
Net, funding: paid 7d − costs−$82as in the Funding arb table
Net, price: spread back to 7d avg − costs−$76as in the Price arb table
costs, in and out, $10k−$850.851% of the position
Funding, last 7 days+0.026%+$3 on $10k
+Price spread, last 4 days (all we have)−0.131%−$13 · spread now +0.093%, 7d avg +0.006%
=Together, before fees−0.104%+ Points / potential airdropHyperliquid: Season 2 · farm board−$10 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Bybit is 0.087% dearer against Hyperliquid than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.006%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.026% in total (about 1.4% 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 SAND | 0.04175 | −0.0123 | get 0.0015% / 1h | 2m 41s | $577K | $452K | 5x |
| Short | Bybit SANDUSDT | 0.04179 | 0.0068 | get 0.0068% / 8h | 2m 41s | $3.3M | $3.4M | 75x |
Hyperliquid SAND
Bybit SANDUSDTFunding 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
- $40.16
- Price spread: +0.093% → +0.006%
- $8.72
- Slippage, 4 orders
- −$65.09
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$36.2
- Costs to cover
- 0.851%
- Break-even
- 13.3 days
Slippage from Hyperliquid: live order book, 67 min ago; Bybit: live order book, 5 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, 67 min ago | 1.56 bp | 23.8 bp −$24 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 5 min ago | 2.40 bp | 13.2 bp −$13 | 36.8 bp −$368 | doesn't fit | doesn't fit |
SAND on 15 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 | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni SAND | −0.0243% | 8h | 0.04166 | −0.219% | $114K | $5K | — | as long as short |
| Kraken Futures PF_SANDUSD | −0.0140% | 1h | 0.04182 | +0.159% | $154K | $108K | 25x | as long as short |
| Hyperliquid SANDlong | −0.0123% | 1h | 0.04175 | long leg | $577K | $452K | 5x | |
| Aster SANDUSDT | −0.0122% | 8h | 0.04183 | +0.184% | $14K | $18K | 10x | as long as short |
| KuCoin SANDUSDTM | −0.0048% | 8h | 0.04169 | −0.146% | $2.6M | $380K | 50x | as long as short |
| Bitget SANDUSDT | −0.0047% | 8h | 0.04176 | +0.022% | $1.7M | $548K | 10x | as long as short |
| Extended SAND-USD | −0.0024% | 1h | 0.04179 | +0.089% | $3K | $195K | 10x | as long as short |
| MEXC SAND_USDT | −0.0021% | 8h | 0.04178 | +0.069% | $11.7M | $1.7M | 200x | as long as short |
| Binance SANDUSDT | −0.0019% | 8h | 0.04179 | +0.081% | $6.6M | $12.5M | 75x | as long as short |
| BloFin SAND-USDT | −0.0001% | 8h | 0.04177 | +0.046% | $322K | $293K | 75x | as long as short |
Variational Omni SAND
Kraken Futures PF_SANDUSD
Aster SANDUSDT
KuCoin SANDUSDTM
Bitget SANDUSDT
Extended SAND-USD
MEXC SAND_USDT
Binance SANDUSDT
BloFin SAND-USDTShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective SAND/USDC PERP | +0.0033% | 1h | 0.04129 | −1.104% | $757 | $795 | 5.5x | as long as short |
| Bybit SANDUSDTshort | +0.0068% | 8h | 0.04179 | +0.093% | $3.3M | $3.4M | 75x | |
| OKX SAND-USDT-SWAP | +0.0100% | 8h | 0.04180 | +0.117% | $1.8M | $3.4M | 50x | as long as short |
| Gate SAND_USDT | +0.0100% | 8h | 0.04179 | +0.093% | $474K | $559K | 75x | as long as short |
| BingX SAND-USDT | +0.0100% | 8h | 0.04178 | +0.069% | — | $2.4M | — | as long as short |
Injective SAND/USDC PERP
OKX SAND-USDT-SWAP
Gate SAND_USDT
BingX SAND-USDT