Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0114%/8h= −12.5% APRpaid last 24h −0.041%

Price spread now: Hotstuff against BingX+0.012%7-day average — · you sell dearer than you buy

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

Long on BingX Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX HYPE-USDT	93.320	0.0034	pay 0.0017% / 4h	1h 18m	—	$52.9M	—
Short	Hotstuff HYPE-PERP	93.331	−0.0080	pay 0.0010% / 1h	18m 27s	$3K	$331	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now +0.012%Rate

Funding earned: −$23.94
Price spread: +0.012% → 0.000%: $1.18
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$37.76
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 10 min ago; Hotstuff: 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 BingX live order book, 10 min ago	0.11 bp	5.6 bp −$6	7.7 bp −$77	11.9 bp −$1,187	16.6 bp −$8,292
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: 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	93.263	−0.062%	$197K	$227K	7x	as long as short
Arcus HYPE-USD	−0.0899%	1h	93.206	−0.122%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0130%	1h	93.270	−0.054%	$699K	$1.0M	10x	as long as short
Hotstuff HYPE-PERPshort	−0.0080%	1h	93.331	+0.012%	$3K	$331	25x
Aftermath Perps HYPEUSD	−0.0061%	1h	93.374	+0.058%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0056%	1h	93.338	+0.019%	$85K	$343K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0047%	4h	93.304	−0.017%	$154K	$652K	20x	as long as short
Phemex HYPEUSDT	−0.0029%	8h	93.326	+0.006%	$12.6M	$2.7M	50x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.320	0.000%	$128K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.330	+0.011%	$23K	$319K	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	93.347	+0.029%	$63K	—	150x	as long as short
Bullet HYPE-USD	+0.0004%	1h	93.338	+0.019%	$111K	$578K	20x	as long as short
Aster HYPEUSDT	+0.0025%	4h	93.320	0.000%	$8.8M	$35.6M	300x	as long as short
Phoenix HYPE	+0.0026%	1h	93.480	+0.171%	$213K	$1.2M	10x	as long as short
BingX HYPE-USDTlong	+0.0034%	4h	93.320	long leg	—	$52.9M	—
Bybit HYPEUSDT	+0.0043%	8h	93.310	−0.011%	$321.3M	$277.1M	75x	as long as short
Gate HYPE_USDT	+0.0048%	4h	93.308	−0.013%	$44.6M	$55.3M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0076%	8h	93.309	−0.012%	$113.9M	$300.5M	50x	as long as short
Derive HYPE-PERP	+0.0082%	1h	93.307	−0.014%	$16.2M	$7.5M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.341	+0.023%	$16.2M	$62.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.330	+0.011%	$3.1M	$11.6M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.308	−0.013%	$70K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.352	+0.034%	$339K	$162K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.330	+0.011%	$12K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.305	−0.016%	$5.8M	$43.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.410	+0.096%	$2.04B	$653.7M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.350	+0.032%	$10.0M	$14.8M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.312	−0.009%	$378.6M	$876.5M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.314	−0.006%	$89.3M	$80.9M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.334	+0.015%	$45.9M	$18.2M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.316	−0.004%	$225.6M	$96.4M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.322	+0.002%	$7.4M	$10.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.358	+0.040%	$31.1M	$53.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.441	+0.130%	$7.6M	$45.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.412	+0.099%	$339K	$997K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.363	+0.046%	$666K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.369	+0.052%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.359	+0.042%	$475K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.372	+0.056%	$79K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.362	+0.045%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.325	+0.005%	$2.0M	$1.9M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.217	−0.110%	$203K	$10K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.281	−0.042%	$18.4M	$43.6M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.321	+0.001%	$397K	$162K	20x	as long as short
edgeX HYPEUSDC	+0.0110%	4h	93.367	+0.051%	$5.1M	$29.1M	30x	as long as short
HTX HYPE-USDT	+0.0159%	4h	93.450	+0.139%	$1.4M	$6.0M	75x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.370	+0.054%	$4.8M	$5.6M	50x	as long as short
Reya HYPERUSDPERP	+0.0259%	1h	93.301	−0.020%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0273%	8h	93.356	+0.039%	$1.9M	$5.1M	2.3x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0296%	1h	93.416	+0.103%	$7.4M	$4.4M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0156%	1h	93.362	+0.044%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.353	+0.035%	$16.9M	$11.6M	75x	as long as short
RISEx HYPE/USDC	+0.0510%	1h	93.397	+0.082%	$3.2M	$6.3M	20x	as long as short
Injective HYPE/USDC PERP	+0.0519%	1h	93.730	+0.439%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0685%	1h	93.404	+0.090%	$20.7M	$29.8M	50x	as long as short