Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0122%/8h= +13.4% APRpaid last 24h +0.046%

Price spread now: RISEx against Bitget+0.063%7-day average +0.008% · 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−$20as in the Price arb table

costs, in and out, $10k−$260.259% of the position

Long on Bitget Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.148%+$15 on $10k

Price spread, last 7 days−0.040%−$4 · spread now +0.063%, 7d avg +0.008%

Together, before fees+0.108%+$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and RISEx is 0.054% dearer against Bitget than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget HYPEUSDT	93.976	0.0100	pay 0.0050% / 4h	3h 13m	$227.6M	$101.0M	75x
Short	RISEx HYPE/USDC	94.035	0.0222	get 0.0028% / 1h	13m 00s	$2.7M	$6.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now +0.063%Rate

Funding earned: $25.65
Price spread: +0.063% → +0.008%: $5.44
Slippage, 4 orders: −$7.86
Fee Bitget: 6 bp × 2 orders: −$12
Fee RISEx: 3 bp × 2 orders: −$6
Net: $5.22
Costs to cover: 0.259%
Break-even: 5.6 days

Slippage from Bitget: live order book, 1 min ago; RISEx: live order book, 1 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, 1 min ago	0.43 bp	8.7 bp −$9	13.1 bp −$131	doesn't fit	doesn't fit
Sell RISEx live order book, 1 min ago	1.17 bp	4.2 bp −$4	6.7 bp −$67	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	−0.1240%	1h	93.973	−0.003%	$199K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0625%	1h	93.916	−0.064%	$1.2M	$3.9M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0214%	1h	93.951	−0.027%	$22K	$21K	10x	as long as short
Phemex HYPEUSDT	−0.0133%	8h	94.011	+0.037%	$12.8M	$2.6M	50x	as long as short
Ondo Perps HYPE-USD.P	−0.0116%	1h	93.980	+0.004%	$708K	$961K	10x	as long as short
dYdX HYPE-USD	−0.0097%	1h	94.086	+0.117%	$129K	$31K	5x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	94.021	+0.048%	$85K	$360K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.024	+0.051%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0067%	1h	94.002	+0.028%	$113K	$581K	20x	as long as short
Gate HYPE_USDT	−0.0048%	4h	94.015	+0.041%	$44.5M	$60.3M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_HYPE_USDC	−0.0027%	4h	93.989	+0.014%	$160K	$645K	20x	as long as short
Bybit HYPEUSDT	−0.0013%	8h	93.947	−0.031%	$323.4M	$280.3M	75x	as long as short
Perpl HYPE	0.0000%	43m	93.995	+0.020%	$23K	$327K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	94.023	+0.050%	$27K	—	150x	as long as short
Aster HYPEUSDT	+0.0013%	4h	94.076	+0.106%	$8.9M	$36.1M	300x	as long as short
Derive HYPE-PERP	+0.0017%	1h	93.964	−0.013%	$16.4M	$7.3M	10x	as long as short
Phoenix HYPE	+0.0034%	1h	93.678	−0.317%	$218K	$1.2M	10x	as long as short
MEXC HYPE_USDT	+0.0050%	4h	93.976	0.000%	$88.5M	$83.3M	100x	as long as short
Binance HYPEUSDT	+0.0051%	4h	93.968	−0.009%	$383.6M	$895.0M	75x	as long as short
edgeX HYPEUSDC	+0.0058%	4h	93.999	+0.024%	$5.1M	$30.1M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0075%	8h	93.974	−0.002%	$116.1M	$316.0M	50x	as long as short
Lighter HYPE	+0.0096%	1h	94.034	+0.062%	$19.0M	$60.3M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.012	+0.038%	$3.0M	$12.2M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.002	+0.028%	$65K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	94.006	+0.032%	$400K	$180K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	94.066	+0.096%	$342K	$165K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.980	+0.004%	$29K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.025	+0.052%	$6.6M	$44.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.048	+0.077%	$2.05B	$676.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.043	+0.071%	$10.2M	$14.6M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.528	−0.476%	$204K	$12K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.972	−0.004%	$46.7M	$18.3M	75x	as long as short
Bitget HYPEUSDTlong	+0.0100%	4h	93.976	long leg	$227.6M	$101.0M	75x
BingX HYPE-USDT	+0.0100%	4h	93.973	−0.003%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.992	+0.017%	$7.7M	$10.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.810	−0.176%	$31.4M	$54.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.085	+0.116%	$7.6M	$46.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.061	+0.090%	$340K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.100	+0.132%	$672K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.048	+0.076%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.027	+0.054%	$475K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.984	+0.009%	$76K	$170K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.092	+0.123%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.004	+0.030%	$2.0M	$2.0M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.957	−0.021%	$18.4M	$45.3M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	94.130	+0.164%	$4.9M	$5.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	93.930	−0.049%	$31K	$338K	12x	as long as short
BloFin HYPE-USDT	+0.0205%	4h	94.015	+0.041%	$17.0M	$12.1M	75x	as long as short
RISEx HYPE/USDCshort	+0.0222%	1h	94.035	+0.063%	$2.7M	$6.8M	20x
Kalshi KXHYPEPERP	+0.0232%	8h	94.151	+0.186%	$1.9M	$5.1M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0252%	1h	93.994	+0.019%	$79K	$143K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0335% / S −0.0158%	1h	94.012	+0.038%	$1.4M	—	100x	as long as short
HTX HYPE-USDT	+0.0377%	4h	94.230	+0.270%	$1.5M	$6.0M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0494%	1h	94.109	+0.142%	$7.5M	$4.7M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0671%	1h	94.086	+0.117%	$21.0M	$29.8M	50x	as long as short