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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 00:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.011%
Price spread now: Popdex against BingX−0.025%7-day average +0.015% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$23as in the Price arb table
costs, in and out, $10k−$190.188% of the position
Long on BingXShort on Popdex
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.059%+$6 on $10k
Price spread, last 7 days+0.028%+$3 · spread now −0.025%, 7d avg +0.015%
Together, before fees+0.087%+$9 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: Popdex is 0.039% cheaper against BingX than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.015%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBingX HYPE-USDT93.6120.0100pay 0.0050% / 4h27m 14s—$54.1M—
ShortPopdex HYPEUSDT93.5890.0096get 0.0012% / 1h27m 14s$64K$1.2M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Popdex against BingX. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
−$0.84
Price spread: −0.025% → +0.015%
−$3.93
Slippage, 4 orders
−$2.38
Fee BingX: 5 bp × 2 orders
−$10
Fee Popdex: 3.2 bp × 2 orders
−$6.4
Net
−$23.56
Costs to cover
0.188%
Break-even
never at this rate
Slippage from BingX: live order book, 12 min ago; Popdex: live order book, 2 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, 12 min ago0.11 bp6.3 bp −$66.8 bp −$6811.1 bp −$1,10816.4 bp −$8,175
Sell Popdex live order book, 2 min ago0.43 bp3.7 bp −$45.1 bp −$5131.7 bp −$3,168doesn't fit

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−0.0872%1h93.521−0.098%$198K$230K7xas long as short
Aftermath Perps HYPEUSD−0.0369%1h93.718+0.113%$22K$22K10xas long as short
Arcus HYPE-USD−0.0233%1h93.497−0.123%$1.2M$3.8M10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.593−0.020%$3K$33125xas long as short
Ondo Perps HYPE-USD.P−0.0067%1h93.540−0.077%$703K$909K10xas long as short
01 Exchange HYPEUSD−0.0040%1h93.573−0.042%$86K$366K20xas long as short
Derive HYPE-PERP−0.0017%1h93.529−0.089%$16.3M$7.1M10xas long as short
dYdX HYPE-USD0.0000%1h93.663+0.054%$127K$30K5xas long as short
Perpl HYPE0.0000%43m93.575−0.039%$23K$329K10xas long as short
Orderly PERP_HYPE_USDC+0.0002%4h93.617+0.005%$166K$583K20xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0003%1h93.620+0.009%$26K—150xas long as short
Phoenix HYPE+0.0009%1h93.687+0.080%$214K$1.2M10xas long as short
Aster HYPEUSDT+0.0015%4h93.585−0.029%$8.9M$36.0M300xas long as short
Bybit HYPEUSDT+0.0018%8h93.600−0.013%$321.6M$283.3M75xas long as short
MEXC HYPE_USDT+0.0056%4h93.6120.000%$87.7M$81.8M100xas long as short
Binance HYPEUSDT+0.0057%4h93.617+0.005%$383.0M$895.5M75xas long as short
edgeX HYPEUSDC+0.0064%4h93.635+0.025%$5.1M$29.7M30xas long as short
Phemex HYPEUSDT+0.0072%8h93.625+0.014%$12.8M$2.6M50xas long as short
Gate HYPE_USDT+0.0084%4h93.610−0.002%$44.5M$59.1M75xas long as short
Bullet HYPE-USD+0.0090%1h93.576−0.039%$112K$577K20xas long as short
Lighter HYPE+0.0096%1h93.652+0.043%$18.8M$60.1M20xas long as short
Lighter RH HYPE+0.0096%1h93.620+0.009%$3.0M$12.3M20xas long as short
Popdex HYPEUSDTshort+0.0096%1h93.589−0.025%$64K$1.2M50x
Aevo HYPE-PERP+0.0096%1h93.592−0.021%$398K$318K20xas long as short
Paradex HYPE-USD-PERP+0.0099%8h93.596−0.017%$340K$171K20xas long as short
Katana Perps HYPE-USD+0.0099%8h93.550−0.066%$43K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.576−0.039%$5.7M$44.4M10xas long as short
Pacifica HYPE+0.0100%1h93.613+0.001%$10.1M$14.5M20xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.609−0.003%$115.3M$320.2M50xas long as short
Bulk HYPE-USD+0.0100%1h93.625+0.014%$204K$7K10xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.597−0.016%$46.4M$18.6M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.644+0.034%$226.8M$102.5M75xas long as short
BingX HYPE-USDTlong+0.0100%4h93.612long leg—$54.1M—
Backpack HYPE_USDC_PERP+0.0100%1h93.639+0.029%$7.8M$10.5M20xas long as short
Variational Omni HYPE+0.0100%8h93.564−0.051%$31.2M$53.9M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.632+0.021%$7.6M$45.1M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.646+0.036%$346K$1.1M50xas long as short
StandX HYPE-USD+0.0100%1h93.649+0.040%$677K$2.5M20xas long as short
Vest HYPE-PERP+0.0100%1h93.639+0.029%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.604−0.009%$490K$2.4M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.590−0.024%$76K$171K20xas long as short
SunX HYPE-USDT+0.0100%4h93.615+0.003%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.587−0.027%$2.0M$2.0M10xas long as short
Injective HYPE/USDC PERP+0.0104%1h94.410+0.852%$31K$338K12xas long as short
Extended HYPE-USD+0.0104%1h93.570−0.045%$18.3M$42.8M50xas long as short
Kalshi KXHYPEPERP+0.0132%8h93.661+0.052%$1.9M$5.0M2.3xas long as short
Coinbase International HYPE-PERP-INTX+0.0152%1h93.670+0.062%$4.9M$5.7M50xas long as short
HTX HYPE-USDT+0.0213%4h93.771+0.170%$1.5M$7.8M75xas long as short
Hyperliquid HYPE+0.0227%1h93.660+0.051%$2.03B$676.4M10xas long as short
BloFin HYPE-USDT+0.0229%4h93.600−0.013%$17.1M$12.6M75xas long as short
Reya HYPERUSDPERP+0.0249%1h93.595−0.019%$77K$142K15xas long as short
RISEx HYPE/USDC+0.0284%1h93.644+0.034%$2.8M$6.9M20xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0337% / S −0.0163%1h93.615+0.003%$1.4M—100xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0466%1h93.693+0.087%$7.4M$4.6M50xas long as short
Kraken Futures PF_HYPEUSD+0.0579%1h93.674+0.066%$20.9M$29.5M50xas long as short