Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0025%/8h= −2.7% APRpaid last 24h −0.010%

Price spread now: OKX against Bitget+0.016%7-day average −0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$290.292% of the position

Long on Bitget Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.012%+$1 on $10k

Price spread, last 7 days−0.018%−$2 · spread now +0.016%, 7d avg −0.003%

Together, before fees−0.005%−$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.003%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget HYPEUSDT	93.322	0.0100	pay 0.0050% / 4h	2h 07m	$225.9M	$97.3M	75x
Short	OKX HYPE-USDT-SWAP	93.337	0.0075	get 0.0075% / 8h	6h 07m	$114.7M	$303.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.016%Rate

Funding earned: −$5.21
Price spread: +0.016% → −0.003%: $1.86
Slippage, 4 orders: −$7.2
Fee Bitget: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$32.55
Costs to cover: 0.292%
Break-even: never at this rate

Slippage from Bitget: live order book, 2 min ago; OKX: live order book, 2 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, 2 min ago	0.16 bp	9.5 bp −$9	15.6 bp −$156	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	0.05 bp	6.3 bp −$6	9.8 bp −$98	19.3 bp −$1,926	doesn't fit

HYPE on 54 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	−0.1112%	1h	93.252	−0.075%	$196K	$227K	7x	as long as short
Arcus HYPE-USD	−0.0786%	1h	93.171	−0.162%	$1.2M	$3.8M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.333	+0.012%	$3K	$331	25x	as long as short
Phemex HYPEUSDT	−0.0076%	8h	93.318	−0.004%	$12.6M	$2.7M	50x	as long as short
Ondo Perps HYPE-USD.P	−0.0076%	1h	93.300	−0.024%	$701K	$909K	10x	as long as short
Orderly PERP_HYPE_USDC	−0.0055%	4h	93.280	−0.045%	$156K	$645K	20x	as long as short
01 Exchange HYPEUSD	−0.0048%	1h	93.298	−0.026%	$84K	$347K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0038%	1h	93.552	+0.247%	$22K	$21K	10x	as long as short
Aster HYPEUSDT	−0.0010%	4h	93.323	+0.001%	$8.8M	$35.8M	300x	as long as short
Gate HYPE_USDT	−0.0008%	4h	93.315	−0.008%	$44.2M	$55.4M	75x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX HYPE-USD	0.0000%	1h	93.303	−0.020%	$128K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.297	−0.026%	$22K	$323K	10x	as long as short
Backpack HYPE_USDC_PERP	0.0000%	1h	93.301	−0.023%	$7.4M	$10.4M	20x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.311	−0.011%	$25K	—	150x	as long as short
BingX HYPE-USDT	+0.0006%	4h	93.326	+0.004%	—	$53.4M	—	as long as short
Bybit HYPEUSDT	+0.0011%	8h	93.310	−0.013%	$320.2M	$277.2M	75x	as long as short
Phoenix HYPE	+0.0060%	1h	93.484	+0.174%	$210K	$1.2M	10x	as long as short
Bullet HYPE-USD	+0.0065%	1h	93.283	−0.042%	$111K	$577K	20x	as long as short
MEXC HYPE_USDT	+0.0070%	4h	93.335	+0.014%	$88.1M	$83.5M	100x	as long as short
Binance HYPEUSDT	+0.0070%	4h	93.330	+0.009%	$380.0M	$882.2M	75x	as long as short
OKX HYPE-USDT-SWAPshort	+0.0075%	8h	93.337	+0.016%	$114.7M	$303.2M	50x
edgeX HYPEUSDC	+0.0081%	4h	93.375	+0.057%	$5.0M	$29.9M	30x	as long as short
Lighter HYPE	+0.0096%	1h	93.355	+0.035%	$16.3M	$62.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.346	+0.026%	$3.1M	$11.9M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.288	−0.036%	$67K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.326	+0.004%	$397K	$172K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.336	+0.015%	$339K	$163K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.320	−0.002%	$21K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.326	+0.004%	$5.7M	$43.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.434	+0.120%	$2.04B	$657.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.335	+0.014%	$10.0M	$14.7M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.760	+0.469%	$204K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.344	+0.024%	$46.2M	$18.0M	75x	as long as short
Bitget HYPEUSDTlong	+0.0100%	4h	93.322	long leg	$225.9M	$97.3M	75x
Variational Omni HYPE	+0.0100%	8h	93.519	+0.211%	$31.1M	$54.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.391	+0.074%	$7.5M	$47.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.374	+0.056%	$337K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.362	+0.043%	$666K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.345	+0.025%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.320	−0.002%	$474K	$2.4M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.264	−0.062%	$79K	$170K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.276	−0.050%	$16.2M	$7.7M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.402	+0.086%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.340	+0.019%	$2.0M	$1.9M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.309	−0.014%	$18.3M	$43.7M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0136%	1h	93.430	+0.116%	$4.9M	$5.4M	50x	as long as short
Injective HYPE/USDC PERP	+0.0137%	1h	94.180	+0.919%	$31K	$339K	12x	as long as short
HTX HYPE-USDT	+0.0184%	4h	93.450	+0.137%	$1.4M	$5.9M	75x	as long as short
RISEx HYPE/USDC	+0.0210%	1h	93.381	+0.064%	$3.2M	$6.7M	20x	as long as short
Reya HYPERUSDPERP	+0.0256%	1h	93.298	−0.026%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0279%	8h	93.295	−0.029%	$1.9M	$4.9M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0156%	1h	93.305	−0.019%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0468%	1h	93.418	+0.103%	$7.4M	$4.4M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0683%	1h	93.400	+0.083%	$20.8M	$29.8M	50x	as long as short