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% APRnext payment +$0.00 per $10,000 · paid last 24h +0.014%

Price spread now: SunX against Bitget+0.129%7-day average +0.085% · you sell dearer than you buy

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$760.762% of the position

Long on Bitget Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.084%+$8 on $10k

Price spread, last 3 days (all we have)−0.039%−$4 · spread now +0.129%, 7d avg +0.085%

Together, before fees+0.045%+$5 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: SunX is 0.045% dearer against Bitget than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.085%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget HYPEUSDT	92.899	0.0100	pay 0.0050% / 4h	1h 50m	$225.2M	$102.9M	75x
Short	SunX HYPE-USDT	93.019	0.0100	get 0.0050% / 4h	1h 50m	$32K	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.129%Rate

Funding earned: $0
Price spread: +0.129% → +0.085%: $4.46
Slippage, 4 orders: −$56.21
Fee Bitget: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$71.75
Costs to cover: 0.762%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; SunX: live order book, 5 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, 4 min ago	0.05 bp	8.1 bp −$8	12.3 bp −$123	doesn't fit	doesn't fit
Sell SunX live order book, 5 min ago	19.35 bp	33.1 bp −$33	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
Aftermath Perps HYPEUSD	−0.0298%	1h	93.064	+0.178%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0131%	1h	92.956	+0.061%	$1.2M	$4.0M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.989	+0.097%	$3K	$331	25x	as long as short
Hibachi HYPE/USDT-P	−0.0048%	1h	92.969	+0.076%	$196K	$231K	7x	as long as short
01 Exchange HYPEUSD	−0.0008%	1h	92.976	+0.083%	$90K	$365K	20x	as long as short
Derive HYPE-PERP	−0.0002%	1h	92.860	−0.042%	$16.3M	$7.1M	10x	as long as short
Aster HYPEUSDT	−0.0001%	4h	92.902	+0.003%	$8.9M	$36.0M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.009	+0.118%	$127K	$32K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.031	+0.142%	$1.9M	$5.3M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	92.956	+0.062%	$23K	$331K	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 −0.0001%	1h	92.932	+0.036%	$20K	—	150x	as long as short
Popdex HYPEUSDT	+0.0016%	1h	92.965	+0.071%	$56K	$1.2M	50x	as long as short
Bybit HYPEUSDT	+0.0032%	8h	92.910	+0.012%	$323.0M	$286.9M	75x	as long as short
Phoenix HYPE	+0.0034%	1h	93.039	+0.151%	$215K	$1.2M	10x	as long as short
Ondo Perps HYPE-USD.P	+0.0041%	1h	92.880	−0.020%	$697K	$922K	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0041%	4h	92.916	+0.018%	$165K	$515K	20x	as long as short
Gate HYPE_USDT	+0.0058%	4h	92.901	+0.002%	$43.9M	$57.3M	75x	as long as short
Bullet HYPE-USD	+0.0094%	1h	92.929	+0.032%	$112K	$579K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.976	+0.083%	$18.5M	$58.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.939	+0.043%	$3.0M	$12.1M	20x	as long as short
Binance HYPEUSDT	+0.0098%	4h	92.915	+0.017%	$382.3M	$892.0M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.004	+0.113%	$338K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	92.980	+0.087%	$40K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.985	+0.092%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.954	+0.059%	$2.02B	$670.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.028	+0.139%	$10.0M	$14.4M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	92.901	+0.002%	$113.9M	$313.7M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.884	−0.016%	$203K	$10K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.919	+0.022%	$90.4M	$81.4M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.917	+0.019%	$47.0M	$19.1M	75x	as long as short
Bitget HYPEUSDTlong	+0.0100%	4h	92.899	long leg	$225.2M	$102.9M	75x
BingX HYPE-USDT	+0.0100%	4h	92.896	−0.003%	—	$54.2M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.936	+0.040%	$7.8M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.887	−0.013%	$28.9M	$50.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.245	+0.372%	$7.5M	$44.9M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.016	+0.126%	$411K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.968	+0.074%	$672K	$2.5M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.010	+0.119%	$492K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.933	+0.037%	$75K	$167K	20x	as long as short
SunX HYPE-USDTshort	+0.0100%	4h	93.019	+0.129%	$32K	$1.6M	20x
SoDEX HYPE-USD	+0.0100%	1h	92.913	+0.015%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	92.959	+0.065%	$12.7M	$2.6M	50x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.998	+0.107%	—	$454K	5x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.890	−0.010%	$18.3M	$42.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.912	+0.014%	$395K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0119%	4h	93.037	+0.148%	$5.1M	$29.5M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	92.950	+0.055%	$4.9M	$5.7M	50x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	92.820	−0.085%	$30K	$338K	12x	as long as short
Reya HYPERUSDPERP	+0.0246%	1h	92.961	+0.067%	$77K	$158K	15x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.052	+0.165%	$2.7M	$6.8M	20x	as long as short
HTX HYPE-USDT	+0.0292%	4h	93.139	+0.258%	$1.5M	$7.6M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0158%	1h	92.955	+0.060%	$1.5M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.975	+0.082%	$17.0M	$12.4M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0385%	1h	93.019	+0.129%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0467%	1h	93.040	+0.151%	$20.7M	$28.5M	50x	as long as short