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 +0.008%

Price spread now: KuCoin against BingX+0.008%7-day average +0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$320.315% of the position

Long on BingX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.072%+$7 on $10k

Price spread, last 7 days+0.009%+$1 · spread now +0.008%, 7d avg +0.010%

Together, before fees+0.081%+$8 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX HYPE-USDT	93.274	0.0100	pay 0.0050% / 4h	1h 09m	—	$53.8M	—
Short	KuCoin HYPEUSDTM	93.281	0.0100	get 0.0050% / 4h	1h 09m	$47.0M	$18.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.008%Rate

Funding earned: $0
Price spread: +0.008% → +0.010%: −$0.21
Slippage, 4 orders: −$9.51
Fee BingX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$31.72
Costs to cover: 0.315%
Break-even: never at this rate

Slippage from BingX: live order book, 9 min ago; KuCoin: 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, 9 min ago	0.11 bp	6.1 bp −$6	8.5 bp −$85	11.4 bp −$1,142	14.6 bp −$7,298
Sell KuCoin live order book, 4 min ago	0.43 bp	9.1 bp −$9	14.0 bp −$140	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	−0.0459%	1h	93.211	−0.067%	$22K	$22K	10x	as long as short
Hibachi HYPE/USDT-P	−0.0384%	1h	93.322	+0.051%	$197K	$230K	7x	as long as short
Arcus HYPE-USD	−0.0131%	1h	93.197	−0.083%	$1.2M	$3.9M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0124%	1h	93.160	−0.122%	$699K	$895K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.276	+0.002%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0024%	1h	93.225	−0.053%	$90K	$359K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.308	+0.036%	$127K	$32K	5x	as long as short
Popdex HYPEUSDT	0.0000%	1h	93.213	−0.065%	$57K	$1.2M	50x	as long as short
Perpl HYPE	0.0000%	43m	93.204	−0.075%	$23K	$330K	10x	as long as short
Aster HYPEUSDT	+0.0002%	4h	93.291	+0.018%	$8.9M	$35.8M	300x	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	93.262	−0.013%	$27K	—	150x	as long as short
Orderly PERP_HYPE_USDC	+0.0017%	4h	93.253	−0.023%	$176K	$524K	20x	as long as short
Bybit HYPEUSDT	+0.0022%	8h	93.260	−0.015%	$323.0M	$283.2M	75x	as long as short
Phoenix HYPE	+0.0034%	1h	93.333	+0.063%	$214K	$1.2M	10x	as long as short
Bullet HYPE-USD	+0.0049%	1h	93.236	−0.041%	$112K	$578K	20x	as long as short
Derive HYPE-PERP	+0.0050%	1h	93.218	−0.060%	$16.3M	$7.0M	10x	as long as short
Gate HYPE_USDT	+0.0062%	4h	93.264	−0.011%	$44.0M	$58.8M	75x	as long as short
MEXC HYPE_USDT	+0.0062%	4h	93.271	−0.003%	$90.2M	$82.3M	100x	as long as short
Binance HYPEUSDT	+0.0063%	4h	93.277	+0.004%	$382.9M	$889.2M	75x	as long as short
edgeX HYPEUSDC	+0.0080%	4h	93.297	+0.024%	$5.1M	$29.6M	30x	as long as short
Lighter HYPE	+0.0096%	1h	93.333	+0.063%	$18.6M	$59.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.302	+0.030%	$3.1M	$12.2M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.271	−0.003%	$397K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.268	−0.007%	$339K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.220	−0.058%	$35K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.258	−0.017%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.294	+0.021%	$2.03B	$660.9M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.297	+0.025%	$10.1M	$14.5M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.253	−0.023%	$114.1M	$312.9M	50x	as long as short
KuCoin HYPEUSDTMshort	+0.0100%	4h	93.281	+0.008%	$47.0M	$18.6M	75x
Bitget HYPEUSDT	+0.0100%	4h	93.278	+0.004%	$226.2M	$102.7M	75x	as long as short
BingX HYPE-USDTlong	+0.0100%	4h	93.274	long leg	—	$53.8M	—
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.297	+0.025%	$7.8M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.212	−0.066%	$30.8M	$51.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.339	+0.069%	$7.5M	$45.7M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.280	+0.006%	$415K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.247	−0.029%	$674K	$2.4M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.263	−0.012%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.239	−0.038%	$493K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.264	−0.011%	$75K	$166K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.283	+0.010%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.263	−0.012%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.297	+0.025%	$12.7M	$2.6M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.280	+0.006%	$204K	$8K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.262	−0.012%	$18.2M	$41.7M	50x	as long as short
Kalshi KXHYPEPERP	+0.0117%	8h	93.332	+0.062%	$1.9M	$5.2M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.270	−0.004%	$4.9M	$5.7M	50x	as long as short
HTX HYPE-USDT	+0.0223%	4h	93.400	+0.135%	$1.5M	$7.7M	75x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	93.210	−0.069%	$30K	$338K	12x	as long as short
Reya HYPERUSDPERP	+0.0247%	1h	93.179	−0.102%	$77K	$159K	15x	as long as short
BloFin HYPE-USDT	+0.0260%	4h	93.271	−0.003%	$16.8M	$12.4M	75x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.269	−0.005%	$2.7M	$6.8M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0165%	1h	93.245	−0.031%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0340%	1h	93.353	+0.085%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0465%	1h	93.387	+0.121%	$20.9M	$28.9M	50x	as long as short