Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against Binance+0.009%7-day average −0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$160.161% of the position

Long on Binance Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 7 days−0.008%−$1 · spread now +0.009%, 7d avg −0.002%

Together, before fees−0.008%−$1 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance HYPEUSDT	93.436	0.0100	pay 0.0050% / 4h	2h 22m	$374.7M	$911.7M	75x
Short	MEXC HYPE_USDT	93.444	0.0100	get 0.0050% / 4h	2h 22m	$90.3M	$81.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.009%Rate

Funding earned: $0
Price spread: +0.009% → −0.002%: $1.01
Slippage, 4 orders: −$2.07
Fee Binance: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$15.06
Costs to cover: 0.161%
Break-even: never at this rate

Slippage from Binance: live order book, 6 min ago; MEXC: live order book, 2 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, 6 min ago	0.05 bp	5.5 bp −$6	7.3 bp −$73	15.5 bp −$1,554	doesn't fit
Sell MEXC live order book, 2 min ago	0.21 bp	2.6 bp −$3	3.5 bp −$35	13.8 bp −$1,381	32.0 bp −$16.0K

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	−0.1408%	1h	93.184	−0.270%	$197K	$238K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0385%	1h	93.269	−0.178%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.373	−0.067%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0055%	1h	93.432	−0.004%	$111K	$581K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0021%	4h	93.428	−0.009%	$146K	$672K	20x	as long as short
01 Exchange HYPEUSD	−0.0008%	1h	93.467	+0.033%	$88K	$365K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.395	−0.044%	$128K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.399	−0.039%	$22K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.450	+0.015%	$62K	—	150x	as long as short
Arcus HYPE-USD	+0.0011%	1h	93.368	−0.073%	$1.0M	$3.9M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget HYPEUSDT	+0.0012%	4h	93.430	−0.006%	$225.4M	$98.9M	75x	as long as short
Bybit HYPEUSDT	+0.0019%	8h	93.441	+0.005%	$317.3M	$282.2M	75x	as long as short
Phoenix HYPE	+0.0026%	1h	93.255	−0.194%	$207K	$1.2M	10x	as long as short
Ondo Perps HYPE-USD.P	+0.0030%	1h	93.240	−0.210%	$702K	$1.2M	10x	as long as short
Phemex HYPEUSDT	+0.0060%	8h	93.318	−0.126%	$12.7M	$2.8M	50x	as long as short
edgeX HYPEUSDC	+0.0085%	4h	93.101	−0.359%	$4.9M	$29.9M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0094%	8h	93.398	−0.040%	$340K	$157K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.363	−0.078%	$16.1M	$63.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.365	−0.076%	$3.1M	$11.5M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.435	−0.001%	$75K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.410	−0.028%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.355	−0.087%	$8.0M	$48.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.467	+0.033%	$2.03B	$665.7M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.427	−0.010%	$8.7M	$36.3M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.390	−0.049%	$10.1M	$15.3M	20x	as long as short
Binance HYPEUSDTlong	+0.0100%	4h	93.436	long leg	$374.7M	$911.7M	75x
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.467	+0.033%	$114.7M	$309.9M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.358	−0.083%	$216K	$15K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	93.414	−0.024%	$47.0M	$54.4M	75x	as long as short
MEXC HYPE_USDTshort	+0.0100%	4h	93.444	+0.009%	$90.3M	$81.4M	100x
KuCoin HYPEUSDTM	+0.0100%	4h	93.424	−0.013%	$46.2M	$18.8M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.431	−0.005%	—	$53.8M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.329	−0.115%	$7.1M	$10.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.070	−0.392%	$28.4M	$56.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.294	−0.152%	$7.5M	$47.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.095	−0.365%	$341K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.255	−0.194%	$667K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.456	+0.022%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.444	+0.009%	$484K	$2.7M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.460	+0.026%	$79K	$166K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.258	−0.191%	$16.1M	$7.4M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.224	−0.227%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.278	−0.169%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.350	−0.092%	$1.4M	$6.5M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.370	−0.070%	$18.1M	$43.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.249	−0.200%	$394K	$158K	20x	as long as short
Kalshi KXHYPEPERP	+0.0108%	8h	93.314	−0.131%	$1.8M	$5.6M	2.3x	as long as short
Injective HYPE/USDC PERP	+0.0122%	1h	93.140	−0.317%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.250	−0.199%	$4.6M	$5.8M	50x	as long as short
Reya HYPERUSDPERP	+0.0269%	1h	93.415	−0.022%	$80K	$127K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0154%	1h	93.449	+0.014%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.312	−0.133%	$16.8M	$11.9M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0341%	1h	93.327	−0.117%	$20.8M	$29.5M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0436%	1h	93.348	−0.094%	$7.5M	$4.0M	50x	as long as short
RISEx HYPE/USDC	+0.0527%	1h	93.470	+0.037%	$3.2M	$6.2M	20x	as long as short