Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.056%

Price spread now: Arcus against Binance−0.022%7-day average −0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$170.167% of the position

Long on Binance Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.068%−$7 on $10k

Price spread, last 7 days+0.049%+$5 · spread now −0.022%, 7d avg −0.023%

Together, before fees−0.019%−$2 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance HYPEUSDT	93.205	0.0100	pay 0.0050% / 4h	2h 54m	$385.4M	$890.6M	75x
Short	Arcus HYPE-USD	93.185	0.0100	get 0.0013% / 1h	54m 30s	$1.2M	$4.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Binance. 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 BinancebpFee ArcusbpOrdersPrice spread, now −0.022%Rate

Funding earned: $0
Price spread: −0.022% → −0.023%: $0.07
Slippage, 4 orders: −$2.19
Fee Binance: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$16.61
Costs to cover: 0.167%
Break-even: never at this rate

Slippage from Binance: live order book, 4 min ago; Arcus: live order book, 5 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 Binance live order book, 4 min ago	0.05 bp	5.1 bp −$5	6.1 bp −$61	15.6 bp −$1,559	doesn't fit
Sell Arcus live order book, 5 min ago	0.05 bp	4.2 bp −$4	11.2 bp −$112	30.5 bp −$3,048	doesn't fit

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	−0.1328%	1h	93.228	+0.024%	$197K	$235K	7x	as long as short
Ondo Perps HYPE-USD.P	−0.0196%	1h	93.160	−0.049%	$699K	$948K	10x	as long as short
01 Exchange HYPEUSD	−0.0104%	1h	93.219	+0.015%	$89K	$340K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0102%	1h	93.323	+0.126%	$22K	$22K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.208	+0.003%	$3K	$331	25x	as long as short
Gate HYPE_USDT	−0.0002%	4h	93.185	−0.022%	$44.0M	$56.1M	75x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.247	+0.045%	$127K	$33K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.463	+0.276%	$1.9M	$5.4M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.210	+0.005%	$23K	$343K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.400	+0.209%	$20K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0004%	4h	93.197	−0.009%	$8.9M	$36.3M	300x	as long as short
Derive HYPE-PERP	+0.0037%	1h	93.341	+0.146%	$16.4M	$7.1M	10x	as long as short
Bybit HYPEUSDT	+0.0040%	8h	93.190	−0.017%	$324.9M	$288.4M	75x	as long as short
Bullet HYPE-USD	+0.0045%	1h	93.214	+0.009%	$112K	$583K	20x	as long as short
Orderly PERP_HYPE_USDC	+0.0078%	4h	93.393	+0.201%	$180K	$536K	20x	as long as short
Phoenix HYPE	+0.0094%	1h	93.336	+0.140%	$215K	$1.2M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.274	+0.073%	$18.5M	$58.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.237	+0.034%	$3.1M	$12.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.204	−0.001%	$56K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.230	+0.026%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.203	−0.002%	$6.0M	$44.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.274	+0.073%	$2.03B	$668.1M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.249	+0.047%	$10.0M	$14.5M	20x	as long as short
Binance HYPEUSDTlong	+0.0100%	4h	93.205	long leg	$385.4M	$890.6M	75x
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.184	−0.023%	$114.6M	$315.8M	50x	as long as short
Arcus HYPE-USDshort	+0.0100%	1h	93.185	−0.022%	$1.2M	$4.0M	10x
Bulk HYPE-USD	+0.0100%	1h	93.386	+0.194%	$204K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.209	+0.004%	$92.0M	$81.5M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.213	+0.008%	$46.2M	$19.6M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.216	+0.011%	$226.4M	$102.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.188	−0.019%	—	$54.6M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.382	+0.189%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.285	+0.085%	$28.8M	$49.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.319	+0.121%	$7.5M	$46.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.338	+0.142%	$405K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.369	+0.176%	$675K	$2.4M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.268	+0.067%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.254	+0.052%	$493K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.404	+0.213%	$76K	$169K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.334	+0.138%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.384	+0.192%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.374	+0.181%	$12.7M	$2.6M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0100%	8h	93.246	+0.044%	$339K	$171K	20x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.177	−0.030%	$18.4M	$41.0M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.401	+0.210%	$397K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0120%	4h	93.294	+0.095%	$5.1M	$29.4M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.390	+0.198%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0244%	1h	93.221	+0.017%	$77K	$157K	15x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.210	+0.005%	$30K	$231K	12x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0165%	1h	93.400	+0.209%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.352	+0.157%	$17.2M	$12.5M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0403%	1h	93.491	+0.306%	$7.4M	$4.6M	50x	as long as short
HTX HYPE-USDT	+0.0422%	4h	93.533	+0.351%	$1.5M	$7.6M	75x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.279	+0.079%	$2.7M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0573%	1h	93.492	+0.307%	$18.8M	$24.8M	50x	as long as short