NIL: Bybit → Hyperliquid

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

+31%

APR right now

Price gap

-0.047%

between legs

Average spread

+149%

over 24h from our own samples

Over 7 days

+149%

samples: 202

BybitLONG

Bid / ask0.08314 / 0.0832

Mark price0.08316

Volume 24h$15.41M

Open interest$4.83M

Rate+0.0050%

APR+11%

Interval / next payout4h / 19m

Bybit

HyperliquidSHORT

Bid / ask0.083161 / 0.083447

Mark price0.083228

Volume 24h$5.33M

Open interest$5.65M

Rate+0.0047%

APR+42%

Interval / next payout1h / 19m

Hyperliquid

Spread from our samples

spread over the period: from 0% to 524% APR, 202 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.