Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0011%/8h= −1.2% APRpaid last 24h −0.011%

Price spread now: 01 Exchange against Bybit+0.060%7-day average +0.052% · 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−$23as in the Price arb table

costs, in and out, $10k−$240.240% of the position

Long on Bybit Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.013%−$1 on $10k

Price spread, last 4 days (all we have)+0.043%+$4 · spread now +0.060%, 7d avg +0.052%

Together, before fees+0.031%+$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.052%, so right now this pair is about funding alone: $0 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit HYPEUSDT	93.051	0.0027	pay 0.0027% / 8h	3h 10m	$317.4M	$284.3M	75x
Short	01 Exchange HYPEUSD	93.107	0.0016	get 0.0002% / 1h	10m 40s	$87K	$365K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange against Bybit. 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 BybitbpFee 01 ExchangebpOrdersPrice spread, now +0.060%Rate

Funding earned: −$2.29
Price spread: +0.060% → +0.052%: $0.84
Slippage, 4 orders: −$5.97
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$25.42
Costs to cover: 0.240%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; 01 Exchange: live order book, 43 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 Bybit live order book, 3 min ago	0.54 bp	6.4 bp −$6	8.2 bp −$82	17.4 bp −$1,735	48.4 bp −$24.2K
Sell 01 Exchange live order book, 43 min ago	0.16 bp	5.9 bp −$6	10.4 bp −$104	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	−0.1808%	1h	93.008	−0.046%	$194K	$231K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0321%	1h	93.016	−0.038%	$22K	$21K	10x	as long as short
Arcus HYPE-USD	−0.0194%	1h	93.058	+0.008%	$1.1M	$3.9M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.071	+0.021%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0052%	4h	93.043	−0.009%	$146K	$671K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.075	+0.026%	$128K	$29K	5x	as long as short
Ondo Perps HYPE-USD.P	0.0000%	1h	92.970	−0.087%	$700K	$1.1M	10x	as long as short
Perpl HYPE	0.0000%	43m	93.060	+0.010%	$22K	$293K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.100	+0.053%	$62K	—	150x	as long as short
Bullet HYPE-USD	+0.0007%	1h	93.065	+0.015%	$111K	$578K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange HYPEUSDshort	+0.0016%	1h	93.107	+0.060%	$87K	$365K	20x
Phoenix HYPE	+0.0026%	1h	93.056	+0.005%	$208K	$1.2M	10x	as long as short
Bybit HYPEUSDTlong	+0.0027%	8h	93.051	long leg	$317.4M	$284.3M	75x
Phemex HYPEUSDT	+0.0028%	8h	93.033	−0.019%	$12.6M	$2.7M	50x	as long as short
Bitget HYPEUSDT	+0.0036%	4h	93.068	+0.018%	$225.1M	$98.8M	75x	as long as short
Popdex HYPEUSDT	+0.0048%	1h	93.081	+0.032%	$76K	$1.1M	50x	as long as short
Gate HYPE_USDT	+0.0054%	4h	93.061	+0.011%	$45.4M	$54.8M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0096%	8h	93.105	+0.058%	$339K	$162K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.079	+0.030%	$16.0M	$62.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.085	+0.037%	$3.1M	$11.6M	20x	as long as short
edgeX HYPEUSDC	+0.0099%	4h	93.100	+0.052%	$4.9M	$29.7M	30x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.060	+0.010%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.037	−0.015%	$6.8M	$46.5M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.120	+0.074%	$2.03B	$670.0M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.068	+0.018%	$8.7M	$36.3M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.101	+0.054%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.067	+0.017%	$373.6M	$909.9M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.069	+0.019%	$114.0M	$305.1M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.125	+0.080%	$203K	$3K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.064	+0.014%	$91.5M	$81.4M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.059	+0.009%	$46.1M	$18.5M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.090	+0.042%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.096	+0.048%	$7.3M	$11.2M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.028	−0.025%	$28.6M	$56.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.156	+0.113%	$7.5M	$46.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.126	+0.081%	$342K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.097	+0.049%	$665K	$2.9M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.120	+0.074%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.106	+0.059%	$488K	$2.7M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.077	+0.028%	$79K	$167K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.052	+0.001%	$16.0M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.140	+0.096%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.069	+0.019%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.228	+0.190%	$1.4M	$6.3M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.043	−0.008%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.070	+0.021%	$393K	$164K	20x	as long as short
Kalshi KXHYPEPERP	+0.0117%	8h	93.139	+0.095%	$1.8M	$5.5M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.120	+0.074%	$4.7M	$5.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0196%	1h	93.136	+0.092%	$20.7M	$29.4M	50x	as long as short
Injective HYPE/USDC PERP	+0.0242%	1h	93.410	+0.386%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0266%	1h	93.085	+0.036%	$79K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	93.094	+0.046%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.074	+0.025%	$16.8M	$11.8M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0523%	1h	93.164	+0.121%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0598%	1h	93.144	+0.100%	$3.2M	$6.3M	20x	as long as short