Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0188%/8h= −20.6% APRpaid last 24h −0.023%

Price spread now: 01 Exchange against Binance−0.011%7-day average +0.020% · 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−$30as in the Price arb table

costs, in and out, $10k−$270.266% of the position

Long on Binance Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.030%−$3 on $10k

Price spread, last 4 days (all we have)+0.184%+$18 · spread now −0.011%, 7d avg +0.020%

Together, before fees+0.155%+$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and 01 Exchange is 0.031% cheaper against Binance than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.020%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.030% in total (about -3.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance HYPEUSDT	92.563	0.0084	pay 0.0042% / 4h	52m 09s	$372.3M	$892.6M	75x
Short	01 Exchange HYPEUSD	92.553	−0.0104	pay 0.0013% / 1h	52m 09s	$86K	$351K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −0.011%Rate

Funding earned: −$39.51
Price spread: −0.011% → +0.020%: −$3.12
Slippage, 4 orders: −$9.63
Fee Binance: 5 bp × 2 orders: −$10
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$69.25
Costs to cover: 0.266%
Break-even: never at this rate

Slippage from Binance: live order book, 7 min ago; 01 Exchange: live order book, 7 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, 7 min ago	0.05 bp	5.1 bp −$5	7.6 bp −$76	15.0 bp −$1,505	36.7 bp −$18.4K
Sell 01 Exchange live order book, 7 min ago	0.05 bp	7.1 bp −$7	11.1 bp −$111	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	92.446	−0.126%	$1.2M	$3.8M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0760%	1h	92.788	+0.243%	$195K	$227K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0110%	1h	92.736	+0.187%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSDshort	−0.0104%	1h	92.553	−0.011%	$86K	$351K	20x
Hotstuff HYPE-PERP	−0.0080%	1h	92.573	+0.011%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0065%	4h	92.552	−0.012%	$158K	$663K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0064%	1h	92.720	+0.170%	$699K	$1.1M	10x	as long as short
Bullet HYPE-USD	−0.0048%	1h	92.565	+0.002%	$111K	$579K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.691	+0.138%	$127K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.571	+0.009%	$23K	$309K	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.608	+0.049%	$62K	—	150x	as long as short
Aster HYPEUSDT	+0.0006%	4h	92.622	+0.063%	$8.7M	$36.2M	300x	as long as short
Derive HYPE-PERP	+0.0018%	1h	92.535	−0.030%	$16.0M	$7.5M	10x	as long as short
Phemex HYPEUSDT	+0.0026%	8h	92.568	+0.005%	$12.5M	$2.7M	50x	as long as short
BingX HYPE-USDT	+0.0032%	4h	92.553	−0.011%	—	$53.2M	—	as long as short
Bybit HYPEUSDT	+0.0037%	8h	92.540	−0.025%	$317.7M	$279.2M	75x	as long as short
Phoenix HYPE	+0.0043%	1h	92.855	+0.315%	$211K	$1.2M	10x	as long as short
Gate HYPE_USDT	+0.0050%	4h	92.583	+0.022%	$44.5M	$54.5M	75x	as long as short
ApeX Omni HYPEUSDT	+0.0068%	1h	92.356	−0.224%	$337K	$1.0M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0074%	8h	92.548	−0.016%	$113.2M	$300.8M	50x	as long as short
Popdex HYPEUSDT	+0.0080%	1h	92.552	−0.012%	$67K	$1.2M	50x	as long as short
MEXC HYPE_USDT	+0.0084%	4h	92.563	0.000%	$87.8M	$80.1M	100x	as long as short
Binance HYPEUSDTlong	+0.0084%	4h	92.563	long leg	$372.3M	$892.6M	75x
edgeX HYPEUSDC	+0.0090%	4h	92.792	+0.247%	$5.1M	$29.2M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0093%	8h	92.623	+0.065%	$338K	$162K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.580	+0.018%	$16.0M	$62.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.558	−0.005%	$3.1M	$11.6M	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	92.540	−0.025%	$14K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.579	+0.018%	$5.8M	$43.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.600	+0.040%	$2.02B	$657.8M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.620	+0.062%	$10.0M	$14.9M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.800	+0.256%	$202K	$13K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.594	+0.033%	$45.9M	$18.2M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.559	−0.004%	$224.0M	$97.5M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.550	−0.014%	$7.4M	$10.0M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.820	+0.277%	$28.4M	$57.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.596	+0.036%	$7.5M	$45.7M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.793	+0.248%	$665K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.646	+0.090%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.612	+0.053%	$468K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.628	+0.070%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.578	+0.016%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.721	+0.171%	$1.4M	$6.2M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.556	−0.008%	$18.1M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.580	+0.018%	$391K	$164K	20x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	93.000	+0.472%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.630	+0.072%	$4.7M	$5.5M	50x	as long as short
Reya HYPERUSDPERP	+0.0260%	1h	92.568	+0.006%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0263%	8h	92.699	+0.147%	$1.8M	$5.4M	2.3x	as long as short
BloFin HYPE-USDT	+0.0325%	4h	92.787	+0.242%	$16.8M	$11.5M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0153%	1h	92.602	+0.042%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0332%	1h	92.618	+0.059%	$20.6M	$30.3M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0473%	1h	92.680	+0.126%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.626	+0.069%	$3.1M	$6.4M	20x	as long as short
Bluefin HYPE-PERP	+0.1674%	1h	92.565	+0.002%	$78K	$169K	20x	as long as short