Funding arb · Price arb / Crypto

HYPE

All HYPE markets →

LONGAvantis▾Hibachi −0.0688%Bullet −0.0659%Aftermath Perps −0.0506%Bybit −0.0228%Popdex −0.0216%SoDEX −0.0212%Bulk −0.0190%RISEx −0.0171%Lighter −0.0168%N1 −0.0168%Paradex −0.0160%edgeX −0.0112%Bitget −0.0102%Binance −0.0090%MEXC −0.0090%Avantis −0.0087%Aster −0.0077%Extended −0.0072%Nado −0.0052%OKX −0.0024%BingX −0.0020%Orderly −0.0016%Gate −0.0008%ApeX Omni −0.0003%dYdX 0.0000%Kalshi 0.0000%Perpl 0.0000%Polymarket Perps +0.0009%Variational Omni +0.0037%Aevo +0.0048%Hyperliquid +0.0085%Lighter RH +0.0096%Katana Perps +0.0099%Pacifica +0.0100%Ondo Perps +0.0100%Arcus +0.0100%KuCoin +0.0100%Backpack +0.0100%GRVT +0.0100%StandX +0.0100%Vest Markets +0.0100%Reya +0.0100%Bluefin +0.0100%Derive +0.0100%SunX +0.0100%HTX +0.0100%Phemex +0.0100%Phoenix +0.0111%BloFin +0.0145%Kraken Futures +0.0202%gTrade (Gains Network) +0.0240%GMX +0.0244%Deribit +0.0248%Injective +0.1901%

⇄⇅

SHORTCoinbase International▾Coinbase International +0.2008%Injective +0.1901%Deribit +0.0248%GMX −0.0216%Kraken Futures +0.0202%BloFin +0.0145%Phoenix +0.0111%Pacifica +0.0100%Ondo Perps +0.0100%Arcus +0.0100%KuCoin +0.0100%Backpack +0.0100%GRVT +0.0100%StandX +0.0100%Vest Markets +0.0100%Reya +0.0100%Bluefin +0.0100%Derive +0.0100%SunX +0.0100%HTX +0.0100%Phemex +0.0100%Katana Perps +0.0099%Lighter RH +0.0096%Hyperliquid +0.0085%Aevo +0.0048%Variational Omni +0.0037%gTrade (Gains Network) −0.0027%Polymarket Perps +0.0009%dYdX 0.0000%Kalshi 0.0000%Perpl 0.0000%ApeX Omni −0.0003%Gate −0.0008%Orderly −0.0016%BingX −0.0020%OKX −0.0024%Nado −0.0052%Extended −0.0072%Aster −0.0077%MEXC −0.0090%Binance −0.0090%Bitget −0.0102%edgeX −0.0112%Paradex −0.0160%Lighter −0.0168%N1 −0.0168%RISEx −0.0171%Bulk −0.0190%SoDEX −0.0212%Popdex −0.0216%Bybit −0.0228%Aftermath Perps −0.0506%Bullet −0.0659%Hibachi −0.0688%

Backtest 30d☆

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	AvantisHYPE/USD	86.467	L −0.0087S +0.0362	get 0.0011% / 1h	46m 05s	$53K	—	20x	Long Avantis
SHORT	Coinbase InternationalHYPE-PERP-INTX	87.430	+0.2008	get 0.0251% / 1h	46m 05s	$4.4M	$3.4M	50x	Short Coinbase International

Price gap+1.114%

Funding gap+0.2095% /8h

Both sides work: funding pays +$63 a day on $10k, and the gap is 1.114% above zero (no 7-day history yet): +$111 more if it goes back.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid +0.355% in total, about +0.0169%/8h on average.

Price and funding

Price spreadPricesFundingLeg ratesP&L

1m5m15m

1h · loading 5m…

24H3D7D14D30D90D

Price spread?

Prices?

Funding?per 8h

P&L?

PRICE SPREAD · 7D

Now+1.114%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D▾

share of time at each level

Funding on every exchange

/8h

24H3D7D14D30D90D

AvantisCoinbase International

HYPE on 55 exchanges

lowest funding first

Before you open

2 ok · 2 to watch

• i
  Note: Order book unknown—

  No order-book sample for Avantis: its slippage is not counted.
• i
  Note: Margin at max leverage$500 + $200

  Avantis 20x, Coinbase International 50x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
• ✓
  OK: Same payment interval1h / 1h

  Both legs pay at the same time.

  Long Avantis · 1h+$2.61

  Short Coinbase International · 1h+$60.24

  now+6h+12h+18h+24h

  Next 24h at the current rates, on $10k a leg: +$62.85Long Avantis: 24 payments, +$2.61; short Coinbase International: 24 payments, +$60.24.
• i
  Note: No 7-day spread history+1.114%

  The gap cannot be compared with its average yet.
• !
  Watch: Long leg is thinner$53K vs $4.4M OI

  Avantis sets your exit cost. Check its book before closing.
• ✓
  OK: Points on a legAvantis Season 3

  Volume here counts toward the points program.
• !
  Watch: KYCAvantis No · Coinbase International Yes

  ID and a suitability check; perps are for eligible non-US countries, not for US or UK retail.

Profit calculator

both legs, in and out

Position, each leg

$10k$100k$1M

Hold for

1 day7 days30 days

Orders

takermaker

Price spread

to 7d avgclosesnot counted

Funding rate

range avgcurrent

Funding earned+0.0169%/8h × 21 periods+$35.45

Price spread+1.114% → 0+$111.41

Slippage, 4 ordersno data for Avantis—

Fee Avantis bp × 2 orders−$9.00

Fee Coinbase International bp × 2 orders−$8.00

Net, fees only · 7 days · $10k+$129.86

Costs to cover0.170%Break-evenfrom the start

Slippage: Avantis: no order-book sample; Coinbase International: live order book, 2 min ago

Cost to enter

taker + slippage from mid, one side

Leg½ spr$10k$100k$1M$5M

BUY · LONGAvantis—————

SELL · SHORTCoinbase International15.38115.6 bp−$116292.1 bp−$2,9211255.9 bp−$125.6Kdoesn’t fit

Closing costs about the same again.
Avantis: no data.

Alert

FundingSpread

Tell me when it goes above%/8hNot more often than everymin

Create alert

HYPE news

posts that mention HYPE, from every exchangeSearch all news →

09-29 15:00	Coinbase International	Other	Assets you swore you'd never sell: - HYPE - ZEC Assets you can now instantly borrow up to $100k against instead of selling: - HYPE - ZEC Guess that works out. @coinbase on X ↗
09-29 14:58	BingX	Contest	Your next trade could come with extra rewards 😎 Share a 200,000 USDT prize pool, with up to 500 USDT per trader. New users can claim 15 USDT trading BTC, ETH or HYPE, plus daily trading rewards of 15 USDT. Join on BingX before Oct 7👇 @BingXOfficial on X ↗
09-28 18:50	Aevo	Other	bitcoin:native is back near $83k after trading above $86k last week. Whether you trade the continuation or pullback, all options and this week’s Perp Majors count toward the volume requirement for our year-end reward. This week’s Perp Majors include: BTC, ETH, SOL, ZEC, NEAR, HYPE, LIT, SPY, QQQ, HOOD, SNDK, MU, NVDA, TSLA, GOOGL. @aevoxyz on X ↗
09-28 15:17	OKX	Other	New X Drops just went live in Europe. Trade XDP, HYPE, TAO, LINK, PUMP, UNI, LTC, DOGE, FET, or AAVE for a share of 23M $XDP. $XDP trades get a 3× boost. @okx on X ↗
09-24 07:40	Binance	Listing	Binance will list @HyperliquidX (HYPE) with the Seed Tag applied. More info → @binance on X ↗
09-23 06:39	Bitget	Other	$HYPE just hit a new ATH near $98, gaining ~5% over the past 24 hours. The move comes as Payward plans to bring regulated onchain perpetual futures to U.S. traders via @HyperliquidX. @bitget on X ↗