Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.015%

Price spread now: BingX against Aevo−0.012%7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$440.442% of the position

Long on Aevo Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.093%−$9 on $10k

Price spread, last 3 days (all we have)+0.034%+$3 · spread now −0.012%, 7d avg −0.016%

Together, before fees−0.059%−$6 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo HYPE-PERP	93.608	0.0096	pay 0.0012% / 1h	31m 07s	$398K	$318K	20x
Short	BingX HYPE-USDT	93.597	0.0100	get 0.0050% / 4h	31m 07s	—	$54.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Aevo. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee AevobpFee BingXbpOrdersPrice spread, now −0.012%Rate

Funding earned: $0.84
Price spread: −0.012% → −0.016%: $0.48
Slippage, 4 orders: −$18.16
Fee Aevo: 8 bp × 2 orders: −$16
Fee BingX: 5 bp × 2 orders: −$10
Net: −$42.84
Costs to cover: 0.442%
Break-even: 364.0 days

Slippage from Aevo: live order book, 48 min ago; BingX: live order book, 8 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Aevo live order book, 48 min ago	6.91 bp	17.9 bp −$18	21.8 bp −$218	25.5 bp −$2,545	doesn't fit
Sell BingX live order book, 8 min ago	0.11 bp	5.1 bp −$5	6.7 bp −$67	10.3 bp −$1,032	16.1 bp −$8,030

HYPE on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hibachi HYPE/USDT-P	−0.0792%	1h	93.621	+0.014%	$198K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0350%	1h	93.901	+0.313%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	93.511	−0.103%	$1.2M	$3.8M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.590	−0.019%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0050%	1h	93.570	−0.040%	$703K	$910K	10x	as long as short
01 Exchange HYPEUSD	−0.0032%	1h	93.583	−0.026%	$87K	$366K	20x	as long as short
Derive HYPE-PERP	−0.0017%	1h	93.543	−0.069%	$16.4M	$7.1M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.583	−0.027%	$127K	$30K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.591	−0.018%	$23K	$329K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.634	+0.028%	$26K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_HYPE_USDC	+0.0003%	4h	93.613	+0.006%	$163K	$578K	20x	as long as short
Phoenix HYPE	+0.0009%	1h	93.755	+0.157%	$215K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0019%	8h	93.586	−0.023%	$321.5M	$283.2M	75x	as long as short
Aster HYPEUSDT	+0.0019%	4h	93.589	−0.020%	$8.9M	$36.0M	300x	as long as short
MEXC HYPE_USDT	+0.0058%	4h	93.609	+0.001%	$87.1M	$81.7M	100x	as long as short
Binance HYPEUSDT	+0.0059%	4h	93.588	−0.021%	$382.9M	$895.1M	75x	as long as short
Phemex HYPEUSDT	+0.0072%	8h	93.638	+0.032%	$12.8M	$2.6M	50x	as long as short
edgeX HYPEUSDC	+0.0080%	4h	93.817	+0.223%	$5.1M	$29.9M	30x	as long as short
Gate HYPE_USDT	+0.0082%	4h	93.588	−0.021%	$44.5M	$59.1M	75x	as long as short
Lighter HYPE	+0.0096%	1h	93.645	+0.040%	$18.8M	$60.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.633	+0.027%	$3.0M	$12.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.597	−0.012%	$63K	$1.2M	50x	as long as short
Aevo HYPE-PERPlong	+0.0096%	1h	93.608	long leg	$398K	$318K	20x
Paradex HYPE-USD-PERP	+0.0099%	8h	93.579	−0.031%	$340K	$171K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.600	−0.008%	$43K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.571	−0.039%	$5.7M	$44.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.617	+0.010%	$10.1M	$14.5M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.580	−0.030%	$115.2M	$319.8M	50x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.621	+0.014%	$46.5M	$18.4M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.606	−0.002%	$226.7M	$102.7M	75x	as long as short
BingX HYPE-USDTshort	+0.0100%	4h	93.597	−0.012%	—	$54.1M	—
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.607	−0.001%	$7.8M	$10.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.564	−0.047%	$31.2M	$53.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.786	+0.190%	$7.6M	$45.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.819	+0.226%	$341K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.752	+0.154%	$678K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.668	+0.064%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.608	0.000%	$490K	$2.5M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	93.596	−0.012%	$111K	$578K	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.596	−0.013%	$76K	$170K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.655	+0.050%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.610	+0.002%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.120	+0.547%	$205K	$7K	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.410	+0.857%	$31K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.586	−0.023%	$18.3M	$42.8M	50x	as long as short
Kalshi KXHYPEPERP	+0.0131%	8h	93.733	+0.134%	$1.9M	$5.0M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	93.650	+0.045%	$4.9M	$5.7M	50x	as long as short
HTX HYPE-USDT	+0.0217%	4h	93.768	+0.171%	$1.5M	$7.8M	75x	as long as short
BloFin HYPE-USDT	+0.0237%	4h	93.601	−0.007%	$17.0M	$12.6M	75x	as long as short
Reya HYPERUSDPERP	+0.0249%	1h	93.598	−0.011%	$77K	$142K	15x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	93.647	+0.041%	$2.8M	$6.9M	20x	as long as short
Hyperliquid HYPE	+0.0299%	1h	93.668	+0.064%	$2.03B	$675.9M	10x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0337% / S −0.0163%	1h	93.636	+0.030%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0348%	1h	93.702	+0.101%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0579%	1h	93.700	+0.098%	$20.9M	$29.4M	50x	as long as short