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 +0.004%

Price spread now: BingX against GRVT−0.128%7-day average −0.019% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$200.198% of the position

Long on GRVT Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.062%−$6 on $10k

Price spread, last 7 days+0.121%+$12 · spread now −0.128%, 7d avg −0.019%

Together, before fees+0.059%+ Points / potential airdropGRVT: Active · farm board+$6 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: BingX is 0.109% cheaper against GRVT than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of −0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT HYPE_USDT_Perp	93.408	0.0100	pay 0.0050% / 4h	2h 38m	$7.5M	$44.9M	10x
Short	BingX HYPE-USDT	93.289	0.0100	get 0.0050% / 4h	2h 38m	—	$54.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against GRVT. 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 GRVTbpFee BingXbpOrdersPrice spread, now −0.128%Rate

Funding earned: $0
Price spread: −0.128% → −0.019%: −$10.93
Slippage, 4 orders: −$0.82
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee BingX: 5 bp × 2 orders: −$10
Net: −$30.75
Costs to cover: 0.198%
Break-even: never at this rate

Slippage from GRVT: 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 GRVT live order book, 5 min ago	0.05 bp	5.0 bp −$5	5.6 bp −$56	1779.0 bp −$177.9K	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	−0.047%	$197K	$233K	7x	as long as short
Ondo Perps HYPE-USD.P	−0.0257%	1h	93.330	−0.084%	$700K	$943K	10x	as long as short
Aftermath Perps HYPEUSD	−0.0227%	1h	93.388	−0.022%	$22K	$22K	10x	as long as short
01 Exchange HYPEUSD	−0.0088%	1h	93.345	−0.068%	$89K	$345K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.419	+0.011%	$3K	$331	25x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.316	−0.099%	$127K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.366	−0.046%	$23K	$337K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.366	−0.046%	$20K	—	150x	as long as short
Derive HYPE-PERP	+0.0003%	1h	93.292	−0.125%	$16.4M	$7.1M	10x	as long as short
Gate HYPE_USDT	+0.0008%	4h	93.276	−0.142%	$44.0M	$56.5M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet HYPE-USD	+0.0008%	1h	93.329	−0.085%	$112K	$583K	20x	as long as short
Aster HYPEUSDT	+0.0009%	4h	93.317	−0.098%	$8.9M	$35.9M	300x	as long as short
Bybit HYPEUSDT	+0.0035%	8h	93.310	−0.105%	$325.0M	$287.5M	75x	as long as short
Phoenix HYPE	+0.0068%	1h	93.527	+0.127%	$216K	$1.2M	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0072%	4h	93.327	−0.087%	$180K	$529K	20x	as long as short
Popdex HYPEUSDT	+0.0080%	1h	93.319	−0.096%	$56K	$1.2M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.340	−0.073%	$18.5M	$59.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.336	−0.078%	$3.1M	$12.3M	20x	as long as short
SoDEX HYPE-USD	+0.0099%	1h	93.291	−0.126%	$2.0M	$2.0M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0100%	8h	93.364	−0.048%	$339K	$171K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.370	−0.041%	$40K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.325	−0.090%	$6.0M	$44.2M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.367	−0.044%	$2.03B	$667.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.353	−0.059%	$10.0M	$14.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.324	−0.090%	$385.2M	$888.7M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.323	−0.091%	$114.6M	$315.0M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.308	−0.108%	$1.2M	$4.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.403	−0.006%	$204K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.319	−0.096%	$92.7M	$82.0M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.311	−0.104%	$46.4M	$19.0M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.321	−0.094%	$226.6M	$102.1M	75x	as long as short
BingX HYPE-USDTshort	+0.0100%	4h	93.289	−0.128%	—	$54.2M	—
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.315	−0.100%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.375	−0.035%	$28.9M	$49.9M	—	as long as short
GRVT HYPE_USDT_Perplong	+0.0100%	4h	93.408	long leg	$7.5M	$44.9M	10x
ApeX Omni HYPEUSDT	+0.0100%	1h	93.381	−0.029%	$405K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.453	+0.048%	$676K	$2.4M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.391	−0.019%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.361	−0.051%	$493K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.332	−0.082%	$76K	$169K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.365	−0.046%	$32K	$1.6M	20x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.356	−0.056%	$12.7M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.277	−0.140%	$18.4M	$41.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.307	−0.108%	$397K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0109%	4h	93.377	−0.033%	$5.1M	$29.5M	30x	as long as short
Kalshi KXHYPEPERP	+0.0110%	8h	93.405	−0.004%	$1.9M	$5.4M	2.3x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0200%	1h	93.411	+0.003%	$7.4M	$4.6M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.360	−0.052%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0245%	1h	93.325	−0.089%	$78K	$158K	15x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.310	−0.105%	$30K	$231K	12x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0164%	1h	93.384	−0.026%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.314	−0.101%	$17.0M	$12.5M	75x	as long as short
HTX HYPE-USDT	+0.0347%	4h	93.500	+0.098%	$1.5M	$7.6M	75x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.389	−0.021%	$2.8M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0574%	1h	93.389	−0.021%	$19.2M	$25.9M	50x	as long as short