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% APRpaid last 24h +0.028%

Price spread now: Bluefin against Bitget+0.027%7-day average +0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$410.410% of the position

Long on Bitget Short on Bluefin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.032%−$3 on $10k

Price spread, last 3 days (all we have)−0.042%−$4 · spread now +0.027%, 7d avg +0.016%

Together, before fees−0.074%−$7 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget HYPEUSDT	93.634	0.0100	pay 0.0050% / 4h	28m 43s	$226.8M	$102.8M	75x
Short	Bluefin HYPE-PERP	93.659	0.0100	get 0.0013% / 1h	28m 43s	$76K	$171K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bluefin against Bitget. 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 BitgetbpFee BluefinbpOrdersPrice spread, now +0.027%Rate

Funding earned: $0
Price spread: +0.027% → +0.016%: $1.08
Slippage, 4 orders: −$22.05
Fee Bitget: 6 bp × 2 orders: −$12
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: −$39.97
Costs to cover: 0.410%
Break-even: never at this rate

Slippage from Bitget: live order book, 5 min ago; Bluefin: live order book, 50 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 Bitget live order book, 5 min ago	0.05 bp	7.9 bp −$8	12.6 bp −$126	doesn't fit	doesn't fit
Sell Bluefin live order book, 50 min ago	2.73 bp	12.0 bp −$12	doesn't fit	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	−0.0840%	1h	93.550	−0.089%	$198K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0353%	1h	93.784	+0.160%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	93.554	−0.085%	$1.2M	$3.8M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.647	+0.014%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0059%	1h	93.560	−0.079%	$703K	$910K	10x	as long as short
01 Exchange HYPEUSD	−0.0040%	1h	93.637	+0.003%	$86K	$366K	20x	as long as short
Derive HYPE-PERP	−0.0017%	1h	93.592	−0.045%	$16.4M	$7.1M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.663	+0.031%	$127K	$30K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.644	+0.011%	$23K	$329K	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0002%	4h	93.665	+0.033%	$166K	$583K	20x	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 −0.0003%	1h	93.690	+0.060%	$26K	—	150x	as long as short
Phoenix HYPE	+0.0009%	1h	93.687	+0.057%	$214K	$1.2M	10x	as long as short
Aster HYPEUSDT	+0.0015%	4h	93.633	−0.001%	$8.9M	$36.0M	300x	as long as short
Bybit HYPEUSDT	+0.0018%	8h	93.620	−0.015%	$321.7M	$283.3M	75x	as long as short
MEXC HYPE_USDT	+0.0056%	4h	93.634	0.000%	$87.8M	$81.8M	100x	as long as short
Binance HYPEUSDT	+0.0057%	4h	93.656	+0.023%	$383.2M	$895.4M	75x	as long as short
Phemex HYPEUSDT	+0.0070%	8h	93.676	+0.045%	$12.8M	$2.6M	50x	as long as short
edgeX HYPEUSDC	+0.0080%	4h	93.817	+0.195%	$5.1M	$29.9M	30x	as long as short
Gate HYPE_USDT	+0.0084%	4h	93.620	−0.015%	$44.5M	$59.1M	75x	as long as short
Lighter HYPE	+0.0096%	1h	93.688	+0.057%	$18.9M	$60.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.662	+0.030%	$3.0M	$12.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.655	+0.022%	$63K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.669	+0.037%	$398K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.661	+0.028%	$340K	$171K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.610	−0.026%	$43K	$1.6M	10x	as long as short
Bullet HYPE-USD	+0.0100%	1h	93.633	−0.001%	$112K	$578K	20x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.645	+0.012%	$5.7M	$44.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.674	+0.043%	$10.1M	$14.5M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.622	−0.013%	$115.3M	$320.1M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.625	−0.010%	$204K	$7K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.636	+0.002%	$46.4M	$18.6M	75x	as long as short
Bitget HYPEUSDTlong	+0.0100%	4h	93.634	long leg	$226.8M	$102.8M	75x
BingX HYPE-USDT	+0.0100%	4h	93.619	−0.016%	—	$54.2M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.648	+0.015%	$7.8M	$10.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.564	−0.075%	$31.2M	$53.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.632	−0.002%	$7.6M	$45.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.819	+0.198%	$341K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.617	−0.018%	$677K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.676	+0.045%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.666	+0.034%	$490K	$2.4M	20x	as long as short
Bluefin HYPE-PERPshort	+0.0100%	1h	93.659	+0.027%	$76K	$171K	20x
SunX HYPE-USDT	+0.0100%	4h	93.708	+0.079%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.666	+0.034%	$2.0M	$2.0M	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.410	+0.829%	$31K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.609	−0.027%	$18.3M	$42.8M	50x	as long as short
Kalshi KXHYPEPERP	+0.0130%	8h	93.726	+0.098%	$1.9M	$5.0M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	93.690	+0.060%	$4.9M	$5.7M	50x	as long as short
HTX HYPE-USDT	+0.0217%	4h	93.820	+0.199%	$1.5M	$7.8M	75x	as long as short
BloFin HYPE-USDT	+0.0226%	4h	93.652	+0.019%	$17.0M	$12.6M	75x	as long as short
Reya HYPERUSDPERP	+0.0249%	1h	93.650	+0.017%	$77K	$142K	15x	as long as short
Hyperliquid HYPE	+0.0257%	1h	93.669	+0.037%	$2.03B	$676.2M	10x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	93.693	+0.063%	$2.8M	$6.9M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0337% / S −0.0163%	1h	93.677	+0.046%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0497%	1h	93.767	+0.142%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0579%	1h	93.759	+0.134%	$20.9M	$29.4M	50x	as long as short