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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 02:00 UTC+0.0668%/8h= +73.1% APRpaid last 24h +0.023%
Price spread now: Kraken Futures against BingX+0.135%7-day average +0.051% · you sell dearer than you buy
Net, funding: paid 7d − costs−$15as in the Funding arb table
Net, price: spread back to 7d avg − costs−$23as in the Price arb table
costs, in and out, $10k−$310.309% of the position
Long on BingXShort on Kraken Futures
What this pair did over the last
the charts below follow
Funding, last 7 days+0.161%+$16 on $10k
Price spread, last 3 days (all we have)−0.107%−$11 · spread now +0.135%, 7d avg +0.051%
Together, before fees+0.055%+$5 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$20 a day on $10k at the current rate, and Kraken Futures is 0.084% dearer against BingX than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.051%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.161% in total (about 8.4% 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.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBingX HYPE-USDT93.4220.0014pay 0.0007% / 4h2h 50m—$54.2M—
ShortKraken Futures PF_HYPEUSD93.5480.0682get 0.0085% / 1h50m 23s$20.9M$29.9M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kraken Futures 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

Funding earned
$140.22
Price spread: +0.135% → +0.051%
$8.42
Slippage, 4 orders
−$10.93
Fee BingX: 5 bp × 2 orders
−$10
Fee Kraken Futures: 5 bp × 2 orders
−$10
Net
$117.72
Costs to cover
0.309%
Break-even
1.1 days
Slippage from BingX: live order book, 3 min ago; Kraken Futures: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy BingX live order book, 3 min ago0.11 bp6.5 bp −$78.1 bp −$8110.6 bp −$1,06416.2 bp −$8,094
Sell Kraken Futures live order book, 4 min ago2.04 bp7.5 bp −$88.4 bp −$8416.1 bp −$1,61254.1 bp −$27.0K

HYPE on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-P−0.1072%1h93.160−0.281%$196K$229K7xas long as short
Arcus HYPE-USD−0.0786%1h93.319−0.110%$1.2M$3.9M10xas long as short
Aftermath Perps HYPEUSD−0.0206%1h93.313−0.117%$22K$21K10xas long as short
Backpack HYPE_USDC_PERP−0.0173%1h93.365−0.061%$7.8M$10.6M20xas long as short
ApeX Omni HYPEUSDT−0.0108%1h93.152−0.289%$337K$1.1M50xas long as short
Ondo Perps HYPE-USD.P−0.0099%1h93.340−0.088%$699K$974K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.282−0.150%$3K$33125xas long as short
Gate HYPE_USDT−0.0080%4h93.425+0.003%$44.2M$53.7M75xas long as short
01 Exchange HYPEUSD−0.0072%1h93.437+0.016%$85K$360K20xas long as short
Orderly PERP_HYPE_USDC−0.0048%4h93.406−0.017%$158K$646K20xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster HYPEUSDT−0.0024%4h93.431+0.010%$8.9M$36.2M300xas long as short
Phemex HYPEUSDT−0.0022%8h93.438+0.017%$12.7M$2.7M50xas long as short
dYdX HYPE-USD0.0000%1h93.462+0.043%$128K$31K5xas long as short
Perpl HYPE0.0000%43m93.437+0.016%$22K$333K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0003%1h93.451+0.031%$26K—150xas long as short
BingX HYPE-USDTlong+0.0014%4h93.422long leg—$54.2M—
Bybit HYPEUSDT+0.0028%8h93.420−0.002%$319.7M$282.6M75xas long as short
MEXC HYPE_USDT+0.0038%4h93.430+0.009%$87.9M$81.8M100xas long as short
edgeX HYPEUSDC+0.0038%4h93.103−0.341%$5.0M$29.8M30xas long as short
Binance HYPEUSDT+0.0044%4h93.455+0.035%$381.0M$904.0M75xas long as short
Bluefin HYPE-PERP+0.0047%1h93.445+0.025%$79K$173K20xas long as short
Derive HYPE-PERP+0.0053%1h93.4220.000%$16.2M$7.6M10xas long as short
Phoenix HYPE+0.0060%1h93.190−0.248%$212K$1.2M10xas long as short
OKX HYPE-USDT-SWAP+0.0066%8h93.449+0.029%$115.3M$315.8M50xas long as short
Bullet HYPE-USD+0.0066%1h93.420−0.002%$111K$578K20xas long as short
Aevo HYPE-PERP+0.0088%1h93.435+0.014%$397K$177K20xas long as short
Lighter HYPE+0.0096%1h93.448+0.028%$16.5M$62.1M20xas long as short
Lighter RH HYPE+0.0096%1h93.465+0.046%$3.1M$11.8M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.436+0.015%$64K$1.2M50xas long as short
Paradex HYPE-USD-PERP+0.0097%8h93.480+0.062%$340K$165K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.410−0.013%$37K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.430+0.009%$6.6M$44.7M10xas long as short
Hyperliquid HYPE+0.0100%1h93.506+0.090%$2.04B$672.2M10xas long as short
Pacifica HYPE+0.0100%1h93.461+0.042%$10.0M$14.7M20xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.442+0.021%$46.0M$18.4M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.463+0.044%$226.2M$100.7M75xas long as short
Variational Omni HYPE+0.0100%8h93.281−0.151%$30.9M$55.0M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.172−0.268%$7.5M$46.9M10xas long as short
StandX HYPE-USD+0.0100%1h93.323−0.106%$666K$2.6M20xas long as short
Vest HYPE-PERP+0.0100%1h93.444+0.023%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.464+0.045%$468K$2.5M20xas long as short
SunX HYPE-USDT+0.0100%4h93.514+0.098%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.455+0.035%$2.0M$2.0M10xas long as short
Bulk HYPE-USD+0.0100%1h93.250−0.184%$203K$10K10xas long as short
Extended HYPE-USD+0.0104%1h93.438+0.018%$18.3M$44.4M50xas long as short
Coinbase International HYPE-PERP-INTX+0.0136%1h93.460+0.041%$4.9M$5.5M50xas long as short
Injective HYPE/USDC PERP+0.0137%1h93.170−0.270%$30K$338K12xas long as short
BloFin HYPE-USDT+0.0158%4h93.376−0.049%$17.0M$12.1M75xas long as short
RISEx HYPE/USDC+0.0210%1h93.488+0.071%$2.7M$6.8M20xas long as short
Reya HYPERUSDPERP+0.0253%1h93.419−0.003%$79K$142K15xas long as short
Kalshi KXHYPEPERP+0.0254%8h93.375−0.050%$1.9M$5.2M2.3xas long as short
HTX HYPE-USDT+0.0273%4h93.600+0.191%$1.5M$6.1M75xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0334% / S −0.0158%1h93.443+0.022%$1.4M—100xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0584%1h93.570+0.158%$7.5M$4.5M50xas long as short
Kraken Futures PF_HYPEUSDshort+0.0682%1h93.548+0.135%$20.9M$29.9M50x