Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.023%

Price spread now: Bluefin against Binance−0.011%7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$430.431% of the position

Long on Binance Short on Bluefin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.094%−$9 on $10k

Price spread, last 4 days (all we have)−0.091%−$9 · spread now −0.011%, 7d avg −0.015%

Together, before fees−0.185%−$19 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance HYPEUSDT	92.887	0.0100	pay 0.0050% / 4h	3h 59m	$373.2M	$902.2M	75x
Short	Bluefin HYPE-PERP	92.877	0.0100	get 0.0013% / 1h	59m 24s	$79K	$168K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bluefin 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 BluefinbpOrdersPrice spread, now −0.011%Rate

Funding earned: $0
Price spread: −0.011% → −0.015%: $0.4
Slippage, 4 orders: −$26.11
Fee Binance: 5 bp × 2 orders: −$10
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: −$42.72
Costs to cover: 0.431%
Break-even: never at this rate

Slippage from Binance: live order book, 15 min ago; Bluefin: live order book, 60 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, 15 min ago	0.05 bp	5.3 bp −$5	8.0 bp −$80	13.5 bp −$1,347	doesn't fit
Sell Bluefin live order book, 60 min ago	4.21 bp	14.9 bp −$15	doesn't fit	doesn't fit	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
Arcus HYPE-USD	−0.0948%	1h	92.862	−0.027%	$1.1M	$3.9M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0440%	1h	92.759	−0.138%	$193K	$227K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0286%	1h	92.840	−0.051%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.891	+0.005%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0063%	4h	92.856	−0.033%	$157K	$653K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.865	−0.024%	$127K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.889	+0.002%	$22K	$302K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.903	+0.017%	$62K	—	150x	as long as short
Bullet HYPE-USD	+0.0007%	1h	92.856	−0.033%	$111K	$579K	20x	as long as short
Phemex HYPEUSDT	+0.0029%	8h	92.858	−0.031%	$12.5M	$2.7M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX HYPE-USDT	+0.0036%	4h	92.876	−0.012%	—	$53.6M	—	as long as short
Phoenix HYPE	+0.0043%	1h	92.952	+0.070%	$210K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0044%	8h	92.860	−0.029%	$316.6M	$281.2M	75x	as long as short
Aster HYPEUSDT	+0.0070%	4h	92.889	+0.002%	$8.7M	$36.1M	300x	as long as short
Bitget HYPEUSDT	+0.0086%	4h	92.845	−0.045%	$224.7M	$98.7M	75x	as long as short
edgeX HYPEUSDC	+0.0093%	4h	92.871	−0.017%	$4.9M	$29.6M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0096%	8h	92.896	+0.010%	$339K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.866	−0.022%	$16.1M	$62.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.914	+0.029%	$3.1M	$11.8M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.882	−0.005%	$69K	$1.1M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0099%	8h	92.877	−0.011%	$113.9M	$303.7M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.880	−0.007%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.892	+0.006%	$7.5M	$45.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.920	+0.036%	$2.02B	$663.8M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.935	+0.052%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDTlong	+0.0100%	4h	92.887	long leg	$373.2M	$902.2M	75x
Ondo Perps HYPE-USD.P	+0.0100%	1h	92.850	−0.040%	$698K	$1.1M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.800	−0.093%	$202K	$13K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	92.868	−0.020%	$44.4M	$53.4M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.886	−0.001%	$88.2M	$79.7M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.888	+0.001%	$46.1M	$18.4M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.880	−0.007%	$7.3M	$11.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.859	−0.030%	$28.5M	$57.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.903	+0.017%	$7.5M	$46.3M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.856	−0.033%	$350K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.890	+0.003%	$667K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.941	+0.058%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.926	+0.042%	$469K	$2.6M	20x	as long as short
Bluefin HYPE-PERPshort	+0.0100%	1h	92.877	−0.011%	$79K	$168K	20x
Derive HYPE-PERP	+0.0100%	1h	92.850	−0.039%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.857	−0.032%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.866	−0.022%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.034	+0.158%	$1.4M	$6.3M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.837	−0.054%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.885	−0.002%	$393K	$164K	20x	as long as short
01 Exchange HYPEUSD	+0.0136%	1h	92.909	+0.024%	$87K	$362K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	92.950	+0.068%	$4.7M	$5.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0197%	1h	92.919	+0.035%	$20.6M	$30.4M	50x	as long as short
Kalshi KXHYPEPERP	+0.0225%	8h	92.896	+0.010%	$1.8M	$5.4M	2.3x	as long as short
Injective HYPE/USDC PERP	+0.0242%	1h	92.870	−0.018%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0263%	1h	92.865	−0.024%	$79K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0154%	1h	92.881	−0.006%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.887	0.000%	$16.8M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0396%	1h	92.952	+0.070%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0598%	1h	92.950	+0.068%	$3.2M	$6.4M	20x	as long as short