Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.017%

Price spread now: BingX against Extended+0.001%7-day average +0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$150.153% of the position

Long on Extended Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.103%−$10 on $10k

Price spread, last 7 days−0.020%−$2 · spread now +0.001%, 7d avg +0.019%

Together, before fees−0.123%+ Points / potential airdropExtended: Active · farm board−$12 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended HYPE-USD	93.329	0.0104	pay 0.0013% / 1h	38m 36s	$18.4M	$41.1M	50x
Short	BingX HYPE-USDT	93.330	0.0100	get 0.0050% / 4h	2h 38m	—	$54.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Extended. 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 ExtendedbpFee BingXbpOrdersPrice spread, now +0.001%Rate

Funding earned: −$0.84
Price spread: +0.001% → +0.019%: −$1.8
Slippage, 4 orders: −$0.34
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BingX: 5 bp × 2 orders: −$10
Net: −$17.98
Costs to cover: 0.153%
Break-even: never at this rate

Slippage from Extended: live order book, 6 min ago; BingX: 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 Extended live order book, 6 min ago	0.05 bp	2.6 bp −$3	4.5 bp −$45	23.0 bp −$2,300	doesn't fit
Sell BingX live order book, 5 min ago	0.11 bp	5.1 bp −$5	7.2 bp −$72	12.0 bp −$1,204	18.3 bp −$9,159

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	−0.1160%	1h	93.364	+0.038%	$197K	$233K	7x	as long as short
Ondo Perps HYPE-USD.P	−0.0258%	1h	93.250	−0.085%	$700K	$941K	10x	as long as short
Aftermath Perps HYPEUSD	−0.0227%	1h	93.388	+0.063%	$22K	$22K	10x	as long as short
01 Exchange HYPEUSD	−0.0088%	1h	93.364	+0.037%	$89K	$347K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.300	−0.031%	$3K	$331	25x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.316	−0.014%	$127K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.366	+0.039%	$23K	$337K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.366	+0.039%	$20K	—	150x	as long as short
Derive HYPE-PERP	+0.0003%	1h	93.292	−0.040%	$16.4M	$7.1M	10x	as long as short
Bullet HYPE-USD	+0.0008%	1h	93.329	0.000%	$112K	$583K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0009%	4h	93.317	−0.013%	$8.9M	$35.9M	300x	as long as short
Gate HYPE_USDT	+0.0012%	4h	93.339	+0.011%	$44.0M	$56.5M	75x	as long as short
Bybit HYPEUSDT	+0.0035%	8h	93.340	+0.012%	$325.2M	$287.5M	75x	as long as short
Phoenix HYPE	+0.0068%	1h	93.527	+0.212%	$216K	$1.2M	10x	as long as short
Popdex HYPEUSDT	+0.0072%	1h	93.340	+0.012%	$56K	$1.2M	50x	as long as short
Orderly PERP_HYPE_USDC	+0.0072%	4h	93.327	−0.002%	$180K	$529K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.340	+0.012%	$18.5M	$59.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.336	+0.007%	$3.1M	$12.3M	20x	as long as short
SoDEX HYPE-USD	+0.0099%	1h	93.291	−0.041%	$2.0M	$2.0M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0100%	8h	93.343	+0.015%	$339K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.350	+0.022%	$40K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.340	+0.011%	$6.0M	$44.2M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.367	+0.041%	$2.03B	$667.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.353	+0.026%	$10.0M	$14.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.339	+0.011%	$385.3M	$888.3M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.333	+0.004%	$114.7M	$315.1M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.312	−0.018%	$1.2M	$4.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.403	+0.079%	$204K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.319	−0.011%	$92.7M	$82.0M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.325	−0.004%	$46.4M	$19.0M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.340	+0.012%	$226.7M	$102.1M	75x	as long as short
BingX HYPE-USDTshort	+0.0100%	4h	93.330	+0.001%	—	$54.2M	—
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.315	−0.015%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.375	+0.050%	$28.9M	$49.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.408	+0.085%	$7.5M	$44.9M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.381	+0.056%	$405K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.453	+0.133%	$676K	$2.4M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.391	+0.066%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.361	+0.034%	$493K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.332	+0.003%	$76K	$169K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.365	+0.038%	$32K	$1.6M	20x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.356	+0.029%	$12.7M	$2.6M	50x	as long as short
Extended HYPE-USDlong	+0.0104%	1h	93.329	long leg	$18.4M	$41.1M	50x
Aevo HYPE-PERP	+0.0104%	1h	93.307	−0.024%	$397K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0109%	4h	93.377	+0.051%	$5.1M	$29.5M	30x	as long as short
Kalshi KXHYPEPERP	+0.0110%	8h	93.405	+0.081%	$1.9M	$5.4M	2.3x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0200%	1h	93.411	+0.088%	$7.4M	$4.6M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.360	+0.033%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0245%	1h	93.325	−0.004%	$78K	$158K	15x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.310	−0.021%	$30K	$231K	12x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0164%	1h	93.384	+0.059%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.314	−0.016%	$17.0M	$12.5M	75x	as long as short
HTX HYPE-USDT	+0.0347%	4h	93.500	+0.183%	$1.5M	$7.6M	75x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.410	+0.087%	$2.8M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0574%	1h	93.389	+0.064%	$19.2M	$25.9M	50x	as long as short