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% APRnext payment +$0.00 per $10,000 · paid last 24h +0.001%

Price spread now: Bitget against BingX+0.052%7-day average −0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$280.283% of the position

Long on BingX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.004%$0 on $10k

Price spread, last 7 days−0.038%−$4 · spread now +0.052%, 7d avg −0.003%

Together, before fees−0.034%−$3 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: Bitget is 0.055% dearer against BingX than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX HYPE-USDT	93.694	0.0100	pay 0.0050% / 4h	1h 00m	—	$53.9M	—
Short	Bitget HYPEUSDT	93.743	0.0100	get 0.0050% / 4h	1h 00m	$227.4M	$102.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against BingX. 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 BingXbpFee BitgetbpOrdersPrice spread, now +0.052%Rate

Funding earned: $0
Price spread: +0.052% → −0.003%: $5.54
Slippage, 4 orders: −$6.35
Fee BingX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$22.81
Costs to cover: 0.283%
Break-even: never at this rate

Slippage from BingX: live order book, 3 min ago; Bitget: live order book, 4 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 BingX live order book, 3 min ago	0.16 bp	5.9 bp −$6	6.1 bp −$61	10.9 bp −$1,094	14.9 bp −$7,438
Sell Bitget live order book, 4 min ago	0.05 bp	7.4 bp −$7	12.0 bp −$120	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
Aftermath Perps HYPEUSD	−0.0489%	1h	93.506	−0.200%	$22K	$22K	10x	as long as short
Hibachi HYPE/USDT-P	−0.0464%	1h	93.565	−0.138%	$198K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0131%	1h	93.619	−0.080%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0130%	1h	93.490	−0.218%	$701K	$897K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.683	−0.012%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0016%	1h	93.734	+0.043%	$91K	$356K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.721	+0.029%	$128K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.747	+0.057%	$23K	$330K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.629	−0.069%	$28K	—	150x	as long as short
Popdex HYPEUSDT	+0.0008%	1h	93.703	+0.010%	$62K	$1.2M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_HYPE_USDC	+0.0015%	4h	93.618	−0.081%	$176K	$524K	20x	as long as short
Aster HYPEUSDT	+0.0015%	4h	93.671	−0.025%	$8.9M	$35.7M	300x	as long as short
Bybit HYPEUSDT	+0.0019%	8h	93.700	+0.006%	$324.2M	$280.8M	75x	as long as short
Phoenix HYPE	+0.0034%	1h	93.456	−0.254%	$214K	$1.2M	10x	as long as short
Gate HYPE_USDT	+0.0062%	4h	93.696	+0.002%	$44.2M	$59.0M	75x	as long as short
Binance HYPEUSDT	+0.0064%	4h	93.702	+0.009%	$384.6M	$884.0M	75x	as long as short
MEXC HYPE_USDT	+0.0064%	4h	93.745	+0.054%	$90.9M	$82.5M	100x	as long as short
Derive HYPE-PERP	+0.0065%	1h	93.578	−0.124%	$16.3M	$6.9M	10x	as long as short
Bullet HYPE-USD	+0.0067%	1h	93.738	+0.047%	$112K	$577K	20x	as long as short
edgeX HYPEUSDC	+0.0071%	4h	93.562	−0.141%	$5.1M	$29.7M	30x	as long as short
Phemex HYPEUSDT	+0.0091%	8h	93.576	−0.126%	$12.8M	$2.6M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.734	+0.043%	$18.6M	$59.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.717	+0.025%	$3.1M	$12.3M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.612	−0.088%	$398K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.686	−0.009%	$340K	$169K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.700	+0.006%	$29K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.653	−0.043%	$5.9M	$44.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.766	+0.077%	$2.04B	$665.9M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.711	+0.018%	$10.1M	$14.5M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.694	0.000%	$114.5M	$313.0M	50x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.769	+0.080%	$47.2M	$18.3M	75x	as long as short
Bitget HYPEUSDTshort	+0.0100%	4h	93.743	+0.052%	$227.4M	$102.2M	75x
BingX HYPE-USDTlong	+0.0100%	4h	93.694	long leg	—	$53.9M	—
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.715	+0.022%	$7.9M	$10.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.352	−0.365%	$30.8M	$51.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.460	−0.250%	$7.5M	$45.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.565	−0.138%	$416K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.557	−0.146%	$677K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.714	+0.021%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.744	+0.053%	$496K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.627	−0.072%	$76K	$166K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.619	−0.080%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.628	−0.070%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.680	−0.015%	$205K	$7K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.679	−0.016%	$18.3M	$41.6M	50x	as long as short
Kalshi KXHYPEPERP	+0.0118%	8h	93.643	−0.054%	$1.9M	$5.1M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.660	−0.036%	$4.9M	$5.7M	50x	as long as short
HTX HYPE-USDT	+0.0219%	4h	93.740	+0.049%	$1.5M	$7.7M	75x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	93.770	+0.081%	$30K	$338K	12x	as long as short
Reya HYPERUSDPERP	+0.0248%	1h	93.716	+0.023%	$77K	$155K	15x	as long as short
BloFin HYPE-USDT	+0.0259%	4h	93.600	−0.100%	$16.9M	$12.3M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0262%	1h	93.723	+0.031%	$7.4M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.761	+0.071%	$2.8M	$6.8M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0340% / S −0.0165%	1h	93.616	−0.083%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0463%	1h	93.746	+0.056%	$21.0M	$28.9M	50x	as long as short