Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.006%

Price spread now: Katana Perps against Binance+0.003%7-day average −0.056% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Binance Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.014%−$1 on $10k

Price spread, last 7 days−0.023%−$2 · spread now +0.003%, 7d avg −0.056%

Together, before fees−0.037%−$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Katana Perps is 0.059% dearer against Binance than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.056%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance HYPEUSDT	93.567	0.0100	pay 0.0050% / 4h	2h 32m	$385.9M	$888.1M	75x
Short	Katana Perps HYPE-USD	93.570	0.0100	get 0.0100% / 8h	2h 32m	$40K	$1.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps 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 Katana PerpsbpOrdersPrice spread, now +0.003%Rate

Funding earned: −$0.04
Price spread: +0.003% → −0.056%: $5.86
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: −$7.99
Costs to cover: 0.138%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 11 min ago; Katana Perps: no order-book sample. Net counts fees only.

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, 11 min ago	0.05 bp	5.1 bp −$5	6.2 bp −$62	12.9 bp −$1,289	34.2 bp −$17.1K
Sell Katana Perps no order-book sample	—	—	—	—	—

Katana Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1088%	1h	93.453	−0.122%	$197K	$233K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0268%	1h	93.482	−0.091%	$22K	$22K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0236%	1h	93.520	−0.051%	$701K	$941K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.567	0.000%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0072%	1h	93.593	+0.027%	$89K	$348K	20x	as long as short
Bullet HYPE-USD	−0.0033%	1h	93.551	−0.017%	$112K	$583K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.563	−0.004%	$127K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.565	−0.002%	$23K	$337K	10x	as long as short
Derive HYPE-PERP	+0.0001%	1h	93.507	−0.065%	$16.4M	$7.1M	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.590	+0.024%	$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	+0.0018%	4h	93.567	0.000%	$9.0M	$35.8M	300x	as long as short
Gate HYPE_USDT	+0.0034%	4h	93.554	−0.014%	$44.1M	$56.6M	75x	as long as short
Bybit HYPEUSDT	+0.0037%	8h	93.560	−0.008%	$326.0M	$287.3M	75x	as long as short
Phoenix HYPE	+0.0068%	1h	93.549	−0.020%	$216K	$1.2M	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0070%	4h	93.561	−0.007%	$180K	$529K	20x	as long as short
Popdex HYPEUSDT	+0.0080%	1h	93.558	−0.010%	$57K	$1.2M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.614	+0.050%	$18.6M	$59.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.590	+0.024%	$3.1M	$12.3M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0100%	8h	93.585	+0.019%	$340K	$170K	20x	as long as short
Katana Perps HYPE-USDshort	+0.0100%	8h	93.570	+0.003%	$40K	$1.6M	10x
Nado HYPE-PERP	+0.0100%	1h	93.550	−0.018%	$6.0M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.643	+0.081%	$2.04B	$668.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.587	+0.021%	$10.0M	$14.4M	20x	as long as short
Binance HYPEUSDTlong	+0.0100%	4h	93.567	long leg	$385.9M	$888.1M	75x
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.561	−0.007%	$114.9M	$315.7M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.539	−0.030%	$1.2M	$4.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.403	−0.176%	$204K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.579	+0.012%	$93.6M	$82.1M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.583	+0.017%	$46.4M	$18.8M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.585	+0.019%	$227.3M	$102.2M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.559	−0.009%	—	$54.2M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.593	+0.027%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.402	−0.177%	$28.9M	$49.8M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.500	−0.072%	$7.5M	$45.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.482	−0.091%	$406K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.503	−0.069%	$676K	$2.4M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.577	+0.011%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.588	+0.022%	$494K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.589	+0.023%	$76K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.611	+0.047%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.560	−0.008%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.549	−0.020%	$12.7M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.551	−0.018%	$18.4M	$41.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.577	+0.011%	$398K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0117%	4h	93.456	−0.119%	$5.1M	$29.6M	30x	as long as short
Kalshi KXHYPEPERP	+0.0119%	8h	93.588	+0.022%	$1.9M	$5.3M	2.3x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0188%	1h	93.655	+0.094%	$7.4M	$4.6M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.620	+0.056%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0245%	1h	93.562	−0.006%	$78K	$158K	15x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.710	+0.152%	$30K	$231K	12x	as long as short
HTX HYPE-USDT	+0.0334%	4h	93.736	+0.180%	$1.5M	$7.6M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0164%	1h	93.588	+0.022%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.559	−0.009%	$17.1M	$12.5M	75x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.628	+0.065%	$2.8M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0572%	1h	93.667	+0.107%	$19.2M	$25.9M	50x	as long as short