HOOD: Bybit → Lighter

Long on the venue with the lower rate, short on the venue with the higher one. Income comes from the rate difference; price exposure cancels out.

Spread

+56%

APR right now

Price gap

-0.093%

between legs

Average spread

+76%

over 24h from our own samples

Over 7 days

+76%

samples: 119

BybitLONG

Bid / ask121.73 / 121.77

Mark price121.76

Volume 24h$8.71M

Open interest$3.87M

Rate+0.0000%

APR+0%

Interval / next payout8h / 5h 34m

Bybit

LighterSHORT

Bid / ask— / —

Mark price121.657

Volume 24h$3.11M

Open interest$2.85M

Rate+0.0064%

APR+56%

Interval / next payout1h / 34m

Lighter

Spread from our samples

spread over the period: from 0% to 245% APR, 119 samples

The rate can flip at any moment, and then the position starts costing money. Size is limited by the weaker leg, and entry and exit both pay fees on two venues. Not financial advice.