Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.006%

Price spread now: BingX against Gate0.000%7-day average +0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$330.327% of the position

Long on Gate Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.002%$0 on $10k

Price spread, last 7 days+0.002%$0 · spread now 0.000%, 7d avg +0.006%

Together, before fees+0.005%$0 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate HYPE_USDT	93.339	0.0100	pay 0.0050% / 4h	2h 43m	$46.5M	$54.0M	75x
Short	BingX HYPE-USDT	93.339	0.0100	get 0.0050% / 4h	2h 43m	—	$53.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Gate. 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 GatebpFee BingXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.006%: −$0.59
Slippage, 4 orders: −$7.7
Fee Gate: 7.5 bp × 2 orders: −$15
Fee BingX: 5 bp × 2 orders: −$10
Net: −$33.29
Costs to cover: 0.327%
Break-even: never at this rate

Slippage from Gate: live order book, 5 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 Gate live order book, 5 min ago	0.05 bp	11.4 bp −$11	15.9 bp −$159	31.0 bp −$3,098	52.9 bp −$26.5K
Sell BingX live order book, 5 min ago	0.16 bp	5.2 bp −$5	5.5 bp −$55	10.0 bp −$1,002	15.5 bp −$7,766

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	93.315	−0.025%	$196K	$232K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0376%	1h	93.515	+0.188%	$22K	$21K	10x	as long as short
Bullet HYPE-USD	−0.0083%	1h	93.374	+0.038%	$111K	$578K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.433	+0.101%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0026%	4h	93.371	+0.034%	$146K	$663K	20x	as long as short
01 Exchange HYPEUSD	−0.0024%	1h	93.364	+0.027%	$87K	$366K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0006%	1h	93.390	+0.055%	$702K	$1.2M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.409	+0.075%	$128K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.433	+0.100%	$22K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.420	+0.087%	$62K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus HYPE-USD	+0.0011%	1h	93.319	−0.021%	$1.0M	$3.9M	10x	as long as short
Bitget HYPEUSDT	+0.0018%	4h	93.339	0.000%	$225.8M	$98.8M	75x	as long as short
Bybit HYPEUSDT	+0.0023%	8h	93.329	−0.011%	$317.3M	$283.6M	75x	as long as short
Phoenix HYPE	+0.0026%	1h	93.637	+0.319%	$209K	$1.2M	10x	as long as short
Phemex HYPEUSDT	+0.0028%	8h	93.402	+0.067%	$12.6M	$2.7M	50x	as long as short
edgeX HYPEUSDC	+0.0081%	4h	93.544	+0.220%	$5.0M	$30.0M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	93.414	+0.081%	$340K	$162K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.392	+0.057%	$16.1M	$63.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.393	+0.058%	$3.1M	$11.4M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.333	−0.006%	$77K	$1.1M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.350	+0.012%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.425	+0.093%	$7.9M	$48.5M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.449	+0.118%	$2.03B	$668.2M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.356	+0.019%	$8.7M	$36.4M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.383	+0.047%	$10.1M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.346	+0.007%	$374.3M	$912.0M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.340	+0.001%	$114.6M	$309.1M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.614	+0.295%	$204K	$3K	10x	as long as short
Gate HYPE_USDTlong	+0.0100%	4h	93.339	long leg	$46.5M	$54.0M	75x
MEXC HYPE_USDT	+0.0100%	4h	93.357	+0.019%	$91.6M	$80.3M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.400	+0.065%	$46.1M	$18.9M	75x	as long as short
BingX HYPE-USDTshort	+0.0100%	4h	93.339	0.000%	—	$53.8M	—
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.417	+0.084%	$7.3M	$10.9M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.419	+0.085%	$28.7M	$56.6M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.468	+0.138%	$7.5M	$47.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.540	+0.215%	$343K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.479	+0.150%	$669K	$2.9M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.477	+0.148%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.438	+0.106%	$490K	$2.7M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.389	+0.054%	$79K	$166K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.377	+0.040%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.391	+0.056%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.394	+0.059%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.615	+0.296%	$1.4M	$6.4M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.316	−0.024%	$18.2M	$43.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.392	+0.057%	$395K	$161K	20x	as long as short
Kalshi KXHYPEPERP	+0.0105%	8h	93.481	+0.152%	$1.8M	$5.6M	2.3x	as long as short
Injective HYPE/USDC PERP	+0.0122%	1h	93.410	+0.076%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.460	+0.130%	$4.8M	$5.6M	50x	as long as short
Reya HYPERUSDPERP	+0.0268%	1h	93.386	+0.050%	$80K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0154%	1h	93.418	+0.085%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.426	+0.093%	$16.9M	$11.9M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0341%	1h	93.458	+0.128%	$20.8M	$29.6M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0403%	1h	93.488	+0.160%	$7.5M	$4.0M	50x	as long as short
RISEx HYPE/USDC	+0.0527%	1h	93.412	+0.078%	$3.2M	$6.3M	20x	as long as short