Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0087%/8h= +9.5% APRpaid last 24h +0.023%

Price spread now: Binance against gTrade (Gains Network)−0.093%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on gTrade (Gains Network)Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Binance is 0.093% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.093% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 3.6 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) HYPE/USD	93.150	L +0.0002% / S −0.0001%	pay 0.0000% / 1h	36m 47s	$20K	—	150x
Short	Binance HYPEUSDT	93.064	0.0089	get 0.0044% / 4h	1h 36m	$382.6M	$892.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BinancebpOrdersPrice spread, now −0.093%Rate

Funding earned: $18.2
Price spread: −0.093% → 0.000%: −$9.26
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$11.06
Costs to cover: 0.200%
Break-even: 11.3 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Binance: live order book, 7 min ago. Net counts fees only.

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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Binance live order book, 7 min ago	0.05 bp	5.1 bp −$5	7.4 bp −$74	16.8 bp −$1,682	35.6 bp −$17.8K

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0362%	1h	93.223	+0.078%	$22K	$22K	10x	as long as short
Hibachi HYPE/USDT-P	−0.0184%	1h	93.205	+0.059%	$197K	$230K	7x	as long as short
Arcus HYPE-USD	−0.0131%	1h	93.101	−0.053%	$1.2M	$4.0M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0103%	1h	93.150	0.000%	$700K	$924K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.161	+0.012%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0016%	1h	93.125	−0.027%	$90K	$361K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.189	+0.042%	$127K	$32K	5x	as long as short
Popdex HYPEUSDT	0.0000%	1h	93.125	−0.027%	$58K	$1.2M	50x	as long as short
Perpl HYPE	0.0000%	43m	93.144	−0.006%	$23K	$331K	10x	as long as short
gTrade (Gains Network) HYPE/USDlong	L +0.0002% / S −0.0001%	1h	93.150	long leg	$20K	—	150x

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0008%	4h	93.081	−0.074%	$8.8M	$36.0M	300x	as long as short
Bybit HYPEUSDT	+0.0027%	8h	93.080	−0.075%	$323.0M	$286.9M	75x	as long as short
Orderly PERP_HYPE_USDC	+0.0033%	4h	93.112	−0.041%	$171K	$519K	20x	as long as short
Phoenix HYPE	+0.0034%	1h	93.374	+0.240%	$214K	$1.2M	10x	as long as short
Bullet HYPE-USD	+0.0035%	1h	93.106	−0.047%	$111K	$579K	20x	as long as short
Gate HYPE_USDT	+0.0038%	4h	93.059	−0.098%	$43.8M	$57.9M	75x	as long as short
Derive HYPE-PERP	+0.0039%	1h	93.083	−0.071%	$16.3M	$7.1M	10x	as long as short
Binance HYPEUSDTshort	+0.0089%	4h	93.064	−0.093%	$382.6M	$892.7M	75x
MEXC HYPE_USDT	+0.0090%	4h	93.065	−0.091%	$89.8M	$81.8M	100x	as long as short
Lighter HYPE	+0.0096%	1h	93.138	−0.013%	$18.5M	$58.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.120	−0.032%	$3.1M	$12.1M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0098%	8h	93.143	−0.008%	$338K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.150	0.000%	$40K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.120	−0.033%	$5.9M	$44.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.119	−0.033%	$2.02B	$670.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.153	+0.003%	$10.0M	$14.3M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.074	−0.082%	$113.8M	$313.5M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.390	+0.258%	$204K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.104	−0.049%	$47.1M	$18.9M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.096	−0.058%	$225.7M	$102.8M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.068	−0.088%	—	$53.8M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.118	−0.034%	$7.8M	$11.2M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.354	+0.219%	$29.0M	$50.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.268	+0.126%	$7.5M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.246	+0.103%	$412K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.210	+0.064%	$674K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.183	+0.035%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.158	+0.009%	$493K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.116	−0.037%	$76K	$167K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.178	+0.030%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.105	−0.048%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.153	+0.003%	$12.7M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.050	−0.107%	$18.2M	$42.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.094	−0.060%	$396K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0106%	4h	93.228	+0.084%	$5.1M	$29.6M	30x	as long as short
Kalshi KXHYPEPERP	+0.0108%	8h	93.221	+0.076%	$1.9M	$5.3M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.190	+0.043%	$4.9M	$5.7M	50x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	93.070	−0.086%	$30K	$338K	12x	as long as short
Reya HYPERUSDPERP	+0.0247%	1h	93.100	−0.054%	$78K	$158K	15x	as long as short
HTX HYPE-USDT	+0.0259%	4h	93.300	+0.161%	$1.5M	$7.7M	75x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.204	+0.059%	$2.8M	$6.8M	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0319%	1h	93.211	+0.065%	$7.4M	$4.6M	50x	as long as short
BloFin HYPE-USDT	+0.0329%	4h	93.087	−0.068%	$16.9M	$12.4M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0340% / S −0.0159%	1h	93.154	+0.005%	$1.5M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0466%	1h	93.200	+0.053%	$20.8M	$28.9M	50x	as long as short