ZEN: 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

+29%

APR right now

Price gap

+0.162%

between legs

Average spread

+23%

over 24h from our own samples

Over 7 days

+23%

samples: 119

BybitLONG

Bid / ask7.699 / 7.704

Mark price7.702

Volume 24h$5.82M

Open interest$4.57M

Rate+0.0100%

APR+11%

Interval / next payout8h / 5h 40m

Bybit

HyperliquidSHORT

Bid / ask7.7165 / 7.7309

Mark price7.7187

Volume 24h$1.38M

Open interest$2.48M

Rate+0.0046%

APR+40%

Interval / next payout1h / 40m

Hyperliquid

Spread from our samples

spread over the period: from 0% to 58% 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.