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2Z — funding rate on Bybit
Bybit · 2ZUSDT+0.005%per 4h · +0.001%/hshorts receive
last settlement+0.005%→upcoming payout+0.005%• unchanged
21:02settlement
0calmheat
Price (mark)
0.05723
+4.3% 24h
Vol 24h
$6.8M
Open interest
$1.3M
Price move in 2 min
—
avg 7d
-0.000%/h
avg 30d
-0.001%/h
Price and skew
Liquidations
24h$105
$0 longs$105 shorts
Shorts were wiped — 100% of the total. Quiet over the last hour.
Event life curvePRO · open for now
Across 14 closed events of this pair: a typical one lives 36m, the peak usually lands at minute 7.5–12.5
median across 14 eventsmedian peak minute
at later minutes only long-livers remain in the sample — the curve is conditional, not «acceleration»
How they ended: funding covered the adverse price move in 4 of 14 cases
median — 0.02% accrued against a 0.40% move
Entry economics
Position calculator
- Position size
- $2,500
- Funding per settlement (4h)
- $0.13 · $0.03/hour
- Net snipe per settlement
- $-3.88 = 0.005% − 0.110% − 0.050%
- Break-even for entry
- rate covers the threshold 0.03×needs 0.160%+ per settlement
- Liquidation price
- 0.06839 (+19.50% from price)
- Risk at this leverage
- no volatility data
- Max “green” leverage
- —
Funding goes to whoever holds the position at the cut-off. MMR in the liquidation formula is +0.50%; verify the price on the exchange before trading.
Settlement window · facts (12)
before cut-off · 5m · the snipe window (12)
avg+0.35% | -0.53%
max-2.00%
after · 5m
avg+0.65% | -0.75%
max-1.88%
before cut-off · 15m
avg+0.36% | -1.00%
max-2.99%
after · 15m
avg+0.59% | -1.33%
max-2.39%
| Cut-off | Rate | Before | After |
|---|---|---|---|
| 15.08 02:00 | -0.142% | +0.08% | -2.39% |
| 15.08 01:00 | -0.118% | +0.06% | -0.04% |
| 14.08 23:00 | -0.100% | -0.15% | +0.02% |
| 14.08 17:00 | +0.001% | +0.39% | +0.54% |
| 14.08 15:00 | -0.138% | -1.02% | -1.78% |
Settlement profilePRO · open for now
How this pair's price behaves around the payout — averaged over 12 settlements
average across settlementsspread: worst … best outcome
Context and comparison
Funding history · 575 settlements
2Z on 4 exchanges
| Exchange | Rate | Per hour | Receives | Snipe |
|---|---|---|---|---|
| Binance | +0.005% / 4h | +0.001%/h | shorts | -0.155% |
| Hyperliquid | +0.001% / 1h | +0.001%/h | shorts | -0.159% |
| Bybit ← you are here | +0.005% / 4h | +0.001%/h | shorts | -0.155% |
| Bitget | +0.005% / 4h | +0.001%/h | shorts | -0.155% |
Binance+0.001%/h
shortsrate +0.005% / 4hsnipe -0.155%
Hyperliquid+0.001%/h
shortsrate +0.001% / 1hsnipe -0.159%
Bybit← you are here+0.001%/h
shortsrate +0.005% / 4hsnipe -0.155%
Bitget+0.001%/h
shortsrate +0.005% / 4hsnipe -0.155%
Max spread across exchanges: 0.000%/h
2Z across all exchanges: comparison & curves →Rates across exchangesPRO · open for now
4 exchanges on one timeline
Bybitevery 4hBinanceevery 4hHyperliquidevery 1hBitgetevery 4hrate corridor between exchanges
exchanges settle at different frequencies — an 8-hour step is bound to «lag» a 1-hour one, that's its grid, not a slower market
spread typically
0.0000%/h
widest spread
0.0130%/h
19.09 08:00 UTC · Bitget ↔ Hyperliquid
the spread is the hedge's rate before fees: that's what an hour of the pair-trade yields
How to read this
- Snipe: enter short before the cut-off, exit after settlement. Funding goes to whoever holds the position at the cut-off. The net capture in the calculator is already net of fees and slippage — and it does not include price moving against you in the settlement window (see volatility above).
- Hedged: a short here + an opposite position of the same size on another exchange or spot — funding capture without price risk, but four legs of fees.
- Extreme funding is a crowd story: price often runs into the cut-off and reverses after. This is data for a decision, not a recommendation.