XLM: 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

+70%

APR right now

Price gap

+0.125%

between legs

Average spread

+28%

over 24h from our own samples

Over 7 days

+28%

samples: 202

BybitLONG

Bid / ask0.2135 / 0.2136

Mark price0.2136

Volume 24h$40.37M

Open interest$44.55M

Rate+0.0100%

APR+11%

Interval / next payout8h / 19m

Bybit

HyperliquidSHORT

Bid / ask0.213868 / 0.213975

Mark price0.21397

Volume 24h$4.50M

Open interest$13.17M

Rate+0.0092%

APR+81%

Interval / next payout1h / 19m

Hyperliquid

Spread from our samples

spread over the period: from 0% to 94% 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.