Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.007%

Price spread now: MEXC against BingX−0.010%7-day average +0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$9as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$150.155% of the position

Long on BingX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.067%+$7 on $10k

Price spread, last 7 days+0.013%+$1 · spread now −0.010%, 7d avg +0.015%

Together, before fees+0.080%+$8 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: MEXC is 0.024% cheaper against BingX than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX HYPE-USDT	94.485	0.0100	pay 0.0050% / 4h	44m 51s	—	$53.6M	—
Short	MEXC HYPE_USDT	94.476	0.0100	get 0.0050% / 4h	44m 51s	$90.5M	$82.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.010%Rate

Funding earned: $0
Price spread: −0.010% → +0.015%: −$2.43
Slippage, 4 orders: −$1.47
Fee BingX: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$17.9
Costs to cover: 0.155%
Break-even: never at this rate

Slippage from BingX: live order book, 9 min ago; MEXC: 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	5.2 bp −$5	5.8 bp −$58	11.7 bp −$1,173	17.1 bp −$8,549
Sell MEXC live order book, 4 min ago	0.05 bp	2.1 bp −$2	3.7 bp −$37	14.2 bp −$1,422	38.9 bp −$19.4K

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	−0.1344%	1h	94.237	−0.262%	$201K	$250K	7x	as long as short
Bluefin HYPE-PERP	−0.0353%	1h	94.408	−0.081%	$80K	$154K	20x	as long as short
Bullet HYPE-USD	−0.0147%	1h	94.464	−0.022%	$112K	$575K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0132%	1h	94.455	−0.032%	$22K	$20K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0105%	1h	94.460	−0.026%	$712K	$1.2M	10x	as long as short
01 Exchange HYPEUSD	−0.0104%	1h	94.441	−0.047%	$87K	$366K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.424	−0.065%	$3K	$331	25x	as long as short
Arcus HYPE-USD	−0.0045%	1h	94.411	−0.078%	$1.0M	$3.6M	10x	as long as short
Bybit HYPEUSDT	−0.0012%	8h	94.480	−0.005%	$317.7M	$289.5M	75x	as long as short
Derive HYPE-PERP	−0.0001%	1h	94.439	−0.049%	$16.5M	$7.5M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX HYPE-USD	0.0000%	1h	94.424	−0.065%	$129K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.511	+0.028%	$1.9M	$5.6M	2.3x	as long as short
Phoenix HYPE	0.0000%	1h	94.489	+0.004%	$209K	$1.1M	10x	as long as short
Perpl HYPE	0.0000%	43m	94.428	−0.061%	$19K	$287K	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0002%	4h	94.426	−0.062%	$146K	$685K	20x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	94.470	−0.016%	$84K	—	150x	as long as short
Bitget HYPEUSDT	+0.0038%	4h	94.444	−0.043%	$227.0M	$100.2M	75x	as long as short
Phemex HYPEUSDT	+0.0045%	8h	94.409	−0.080%	$12.9M	$2.9M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0059%	8h	94.443	−0.044%	$337K	$156K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0064%	1h	94.560	+0.079%	$4.7M	$6.2M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0085%	8h	94.479	−0.006%	$117.8M	$324.7M	50x	as long as short
Lighter HYPE	+0.0088%	1h	94.448	−0.040%	$16.3M	$64.0M	20x	as long as short
edgeX HYPEUSDC	+0.0094%	4h	94.499	+0.015%	$5.0M	$30.8M	30x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.464	−0.022%	$3.2M	$10.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.427	−0.061%	$81K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.460	−0.026%	$29K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.407	−0.082%	$7.3M	$52.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.583	+0.104%	$2.08B	$690.0M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.487	+0.002%	$8.8M	$37.3M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.455	−0.031%	$10.2M	$15.3M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.491	+0.006%	$378.5M	$933.8M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.332	−0.162%	$218K	$12K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.488	+0.003%	$49.6M	$56.3M	75x	as long as short
MEXC HYPE_USDTshort	+0.0100%	4h	94.476	−0.010%	$90.5M	$82.5M	100x
KuCoin HYPEUSDTM	+0.0100%	4h	94.462	−0.024%	$47.1M	$18.6M	75x	as long as short
BingX HYPE-USDTlong	+0.0100%	4h	94.485	long leg	—	$53.6M	—
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.453	−0.034%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.467	−0.019%	$29.4M	$54.8M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.532	+0.050%	$7.6M	$45.9M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.435	−0.053%	$363K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.524	+0.041%	$683K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.529	+0.047%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.478	−0.007%	$496K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.504	+0.020%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.448	−0.039%	$2.1M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.583	+0.104%	$1.4M	$6.8M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.427	−0.061%	$18.3M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.441	−0.046%	$399K	$159K	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0131%	1h	94.534	+0.052%	$7.4M	$4.3M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0150% / S +0.0021%	1h	94.497	+0.012%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0185%	1h	94.370	−0.122%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0223%	1h	94.506	+0.023%	$20.3M	$30.2M	50x	as long as short
RISEx HYPE/USDC	+0.0249%	1h	94.454	−0.032%	$3.2M	$6.4M	20x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.443	−0.045%	$84K	$124K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.454	−0.033%	$17.1M	$12.4M	75x	as long as short