Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0090%/8h= −9.9% APRpaid last 24h −0.018%

Price spread now: 01 Exchange against BingX+0.005%7-day average +0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$340.338% of the position

Long on BingX Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.027%+$3 on $10k

Price spread, last 4 days (all we have)+0.026%+$3 · spread now +0.005%, 7d avg +0.039%

Together, before fees+0.053%+$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and 01 Exchange is 0.033% cheaper against BingX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.039%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX HYPE-USDT	93.396	0.0034	pay 0.0017% / 4h	1h 16m	—	$52.9M	—
Short	01 Exchange HYPEUSD	93.401	−0.0056	pay 0.0007% / 1h	16m 14s	$85K	$343K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now +0.005%Rate

Funding earned: −$18.9
Price spread: +0.005% → +0.039%: −$3.32
Slippage, 4 orders: −$16.79
Fee BingX: 5 bp × 2 orders: −$10
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$56.01
Costs to cover: 0.338%
Break-even: never at this rate

Slippage from BingX: live order book, 3 min ago; 01 Exchange: live order book, 48 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, 3 min ago	0.11 bp	15.6 bp −$16	15.6 bp −$156	15.6 bp −$1,561	20.9 bp −$10.5K
Sell 01 Exchange live order book, 48 min ago	0.80 bp	6.0 bp −$6	9.7 bp −$97	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
Hibachi HYPE/USDT-P	−0.1064%	1h	93.274	−0.131%	$197K	$227K	7x	as long as short
Arcus HYPE-USD	−0.0899%	1h	93.276	−0.128%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0131%	1h	93.270	−0.135%	$699K	$1.0M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.366	−0.032%	$3K	$331	25x	as long as short
Aftermath Perps HYPEUSD	−0.0063%	1h	93.378	−0.019%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSDshort	−0.0056%	1h	93.401	+0.005%	$85K	$343K	20x
Orderly PERP_HYPE_USDC	−0.0047%	4h	93.378	−0.019%	$154K	$652K	20x	as long as short
Phemex HYPEUSDT	−0.0028%	8h	93.397	+0.001%	$12.6M	$2.7M	50x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.420	+0.026%	$128K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.394	−0.002%	$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	93.413	+0.018%	$63K	—	150x	as long as short
Bullet HYPE-USD	+0.0025%	1h	93.404	+0.009%	$112K	$578K	20x	as long as short
Phoenix HYPE	+0.0026%	1h	93.367	−0.031%	$213K	$1.2M	10x	as long as short
Aster HYPEUSDT	+0.0028%	4h	93.385	−0.012%	$8.8M	$35.8M	300x	as long as short
BingX HYPE-USDTlong	+0.0034%	4h	93.396	long leg	—	$52.9M	—
Bybit HYPEUSDT	+0.0043%	8h	93.249	−0.157%	$321.1M	$277.7M	75x	as long as short
Gate HYPE_USDT	+0.0044%	4h	93.397	+0.001%	$44.6M	$55.3M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0076%	8h	93.258	−0.148%	$114.0M	$300.6M	50x	as long as short
Derive HYPE-PERP	+0.0082%	1h	93.373	−0.025%	$16.2M	$7.5M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.419	+0.025%	$16.3M	$62.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.418	+0.024%	$3.1M	$11.6M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.369	−0.029%	$71K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.421	+0.027%	$339K	$162K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.340	−0.060%	$12K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.401	+0.006%	$5.8M	$43.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.450	+0.058%	$2.04B	$654.0M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.398	+0.002%	$10.0M	$14.8M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.329	−0.072%	$378.7M	$877.4M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.279	−0.125%	$89.7M	$81.0M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.316	−0.086%	$45.9M	$18.2M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.391	−0.005%	$225.8M	$96.4M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.388	−0.009%	$7.4M	$10.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.358	−0.041%	$31.1M	$53.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.354	−0.045%	$7.5M	$45.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.412	+0.017%	$339K	$997K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.347	−0.052%	$666K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.408	+0.013%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.426	+0.032%	$482K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.389	−0.007%	$79K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.445	+0.052%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.409	+0.014%	$2.0M	$1.9M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.217	−0.191%	$203K	$10K	10x	as long as short
edgeX HYPEUSDC	+0.0102%	4h	93.298	−0.105%	$5.0M	$29.1M	30x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.384	−0.013%	$18.4M	$43.7M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.406	+0.011%	$397K	$162K	20x	as long as short
HTX HYPE-USDT	+0.0152%	4h	93.518	+0.131%	$1.4M	$6.0M	75x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.420	+0.026%	$4.8M	$5.6M	50x	as long as short
Reya HYPERUSDPERP	+0.0259%	1h	93.378	−0.019%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0272%	8h	93.358	−0.041%	$1.9M	$5.2M	2.3x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0285%	1h	93.483	+0.093%	$7.5M	$4.4M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0156%	1h	93.410	+0.015%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.320	−0.081%	$17.0M	$11.5M	75x	as long as short
RISEx HYPE/USDC	+0.0510%	1h	93.466	+0.075%	$3.2M	$6.3M	20x	as long as short
Injective HYPE/USDC PERP	+0.0519%	1h	93.730	+0.358%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0685%	1h	93.472	+0.081%	$20.8M	$29.8M	50x	as long as short