Funding you earn now, next payment 11:00 UTC+0.0037%/8h= +4.1% APRpaid last 24h +0.018%
Price spread now: Hyperliquid against Bybit+0.144%7-day average +0.039% · you sell dearer than you buy
Net, funding: paid 7d − costs−$17as in the Funding arb table
Net, price: spread back to 7d avg − costs−$13as in the Price arb table
costs, in and out, $10k−$230.234% of the position
Funding, last 7 days+0.063%+$6 on $10k
+Price spread, last 7 days−0.127%−$13 · spread now +0.144%, 7d avg +0.039%
=Together, before fees−0.064%+ Points / potential airdropHyperliquid: Season 2 · farm board−$6 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 0.105% dearer against Bybit than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.039%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit TRXUSDT | 0.3480 | 0.0100 | pay 0.0100% / 8h | 5h 57m | $53.4M | $13.5M | 75x |
| Short | Hyperliquid TRX | 0.3485 | 0.0137 | get 0.0017% / 1h | 57m 40s | $14.3M | $2.8M | 10x |
Bybit TRXUSDT
Hyperliquid TRXFunding 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
- $7.85
- Price spread: +0.144% → +0.039%
- $10.51
- Slippage, 4 orders
- −$3.38
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$5.01
- Costs to cover
- 0.234%
- Break-even
- 11.5 days
Slippage from Bybit: live order book, 4 min ago; Hyperliquid: live order book, 8 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, 4 min ago | 1.44 bp | 6.9 bp −$7 | 10.7 bp −$107 | 44.3 bp −$4,430 | doesn't fit |
| Sell Hyperliquid live order book, 8 min ago | 0.14 bp | 4.8 bp −$5 | doesn't fit | doesn't fit | doesn't fit |
TRX on 32 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Aster TRXUSDT | −0.0315% | 8h | 0.3478 | −0.066% | $963K | $927K | 75x | as long as short |
| HTX TRX-USDT | −0.0218% | 8h | 0.3480 | +0.002% | $832K | $884K | 75x | as long as short |
| Reya TRXRUSDPERP | −0.0133% | 1h | 0.3479 | −0.015% | $5 | — | 20x | as long as short |
| Backpack TRX_USDC_PERP | −0.0086% | 1h | 0.3480 | 0.000% | $57K | $8K | 10x | as long as short |
| Phoenix TRX | −0.0023% | 1h | 0.3485 | +0.135% | $5K | $14K | 10x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3481 | +0.034% | $182K | $10K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3481 | +0.025% | $126K | — | 150x | as long as short |
| SoDEX TRX-USD | +0.0031% | 1h | 0.3480 | +0.011% | $407 | $5K | 5x | as long as short |
| Injective TRX/USDC PERP | +0.0033% | 1h | 0.3441 | −1.121% | $1K | $163K | 12x | as long as short |
| BingX TRX-USDT | +0.0070% | 8h | 0.3481 | +0.017% | — | $32.5M | — | as long as short |
Aster TRXUSDT
HTX TRX-USDT
Reya TRXRUSDPERP
Backpack TRX_USDC_PERP
Phoenix TRX
dYdX TRX-USD
gTrade (Gains Network) TRX/USD
SoDEX TRX-USD
Injective TRX/USDC PERP
BingX TRX-USDTShow all 32 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter TRX | +0.0096% | 1h | 0.3481 | +0.023% | $482K | $656K | 10x | as long as short |
| Orderly PERP_TRX_USDC | +0.0099% | 8h | 0.3480 | +0.009% | $14K | $71K | 20x | as long as short |
| Paradex TRX-USD-PERP | +0.0099% | 8h | 0.3480 | −0.005% | $9K | $52 | 20x | as long as short |
| Binance TRXUSDT | +0.0100% | 8h | 0.3481 | +0.017% | $107.1M | $63.7M | 75x | as long as short |
| Bybit TRXUSDTlong | +0.0100% | 8h | 0.3480 | long leg | $53.4M | $13.5M | 75x | |
| OKX TRX-USDT-SWAP | +0.0100% | 8h | 0.3481 | +0.020% | $15.4M | $11.4M | 50x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3480 | +0.011% | $9.6M | $3.2M | 75x | as long as short |
| MEXC TRX_USDT | +0.0100% | 8h | 0.3481 | +0.023% | $19.1M | $2.3M | 200x | as long as short |
| KuCoin TRXUSDTM | +0.0100% | 8h | 0.3481 | +0.029% | $8.5M | $3.4M | 75x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3479 | −0.020% | $9.7M | $4.4M | 75x | as long as short |
| Variational Omni TRX | +0.0100% | 8h | 0.3481 | +0.020% | $577K | $28K | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3482 | +0.061% | $594K | $506K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3483 | +0.080% | $117K | $619K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3479 | −0.040% | $198K | $1.3M | 30x | as long as short |
| Phemex TRXUSDT | +0.0100% | 8h | 0.3482 | +0.043% | $3.9M | $2.0M | 50x | as long as short |
| Extended TRX-USD | +0.0104% | 1h | 0.3479 | −0.035% | $213K | $1.1M | 25x | as long as short |
| Aevo TRX-PERP | +0.0104% | 1h | 0.3479 | −0.036% | $34K | — | 3x | as long as short |
| Hyperliquid TRXshort | +0.0137% | 1h | 0.3485 | +0.144% | $14.3M | $2.8M | 10x | |
| BloFin TRX-USDT | +0.0220% | 8h | 0.3481 | +0.017% | $4.8M | $3.9M | 50x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0269% | 1h | 0.3480 | +0.009% | $2.4M | $1.8M | 25x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0409% / S −0.0492% | 1h | 0.3483 | +0.092% | $20K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0543% | 1h | 0.3484 | +0.120% | $805K | $723K | 25x | as long as short |
Lighter TRX
Orderly PERP_TRX_USDC
Paradex TRX-USD-PERP
Binance TRXUSDT
OKX TRX-USDT-SWAP
Gate TRX_USDT
MEXC TRX_USDT
KuCoin TRXUSDTM
Bitget TRXUSDT
Variational Omni TRX
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
Phemex TRXUSDT
Extended TRX-USD
Aevo TRX-PERP
BloFin TRX-USDT
Kraken Futures PF_TRXUSD
GMX TRX/USD [ETH-USDC]
Deribit TRX_USDC-PERPETUAL