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Funding arb · Price arb /

HYPE

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 03:00 UTC+0.1322%/8h= +144.8% APRpaid last 24h +0.216%
Price spread now: BingX against Hibachi+0.030%49s7-day average +0.051% · you sell dearer than you buy
Net, funding: paid 7d − costs+$90as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$680.681% of the position
Long on HibachiShort on BingX
What this pair did over the last
the charts below follow
Funding, last 7 days+1.580%+$158 on $10k
Price spread, last 4 days (all we have)−0.709%−$71 · spread now +0.030%, 7d avg +0.051%
Together, before fees+0.871%+ Points / potential airdropHibachi: Active · farm board+$87 on $10k · with fees, hour by hour
Funding pays, the price is against you. BingX is 0.021% cheaper against Hibachi than usual: you would sell low and buy high (spread +0.030% now, against its 7-day average of +0.051%). If the spread goes back, that is −$2 on $10k: about 1 hour of funding at the current rate (+$40 a day). The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongHibachi HYPE/USDT-P93.292−0.1296get 0.0162% / 1h34m 37s$196K$226K7x
ShortBingX HYPE-USDT93.3200.0026get 0.0013% / 4h1h 34m—$53.0M—

Funding history

latest
Range statsloading…

Price spread between the two exchanges

BingX against Hibachi. 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

Funding earned
$277.62
Price spread: +0.030% → +0.051%
−$2.12
Slippage, 4 orders
−$49.11
Fee Hibachi: 4.5 bp × 2 orders
−$9
Fee BingX: 5 bp × 2 orders
−$10
Net
$207.39
Costs to cover
0.681%
Break-even
1.8 days
Slippage from Hibachi: live order book, 29 min ago; BingX: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Hibachi live order book, 29 min ago12.16 bp33.4 bp −$3353.7 bp −$537doesn't fitdoesn't fit
Sell BingX live order book, 4 min ago0.11 bp5.1 bp −$55.6 bp −$5610.6 bp −$1,06315.8 bp −$7,885

HYPE on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-Plong−0.1296%1h93.292long leg$196K$226K7x
Arcus HYPE-USD−0.0899%1h93.210−0.088%$1.2M$3.8M10xas long as short
Ondo Perps HYPE-USD.P−0.0110%1h93.330+0.041%$699K$982K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.329+0.040%$3K$33125xas long as short
01 Exchange HYPEUSD−0.0056%1h93.370+0.084%$85K$344K20xas long as short
Phemex HYPEUSDT−0.0056%8h93.374+0.088%$12.6M$2.7M50xas long as short
Aftermath Perps HYPEUSD−0.0055%1h93.379+0.093%$22K$21K10xas long as short
Orderly PERP_HYPE_USDC−0.0044%4h93.361+0.074%$154K$640K20xas long as short
Bullet HYPE-USD−0.0007%1h93.398+0.114%$112K$577K20xas long as short
dYdX HYPE-USD0.0000%1h93.361+0.074%$128K$31K5xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Perpl HYPE0.0000%43m93.408+0.125%$23K$322K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0002%1h93.413+0.129%$62K—150xas long as short
Aster HYPEUSDT+0.0022%4h93.394+0.109%$8.8M$35.5M300xas long as short
Phoenix HYPE+0.0026%1h93.393+0.108%$213K$1.2M10xas long as short
BingX HYPE-USDTshort+0.0026%4h93.320+0.030%—$53.0M—
Bybit HYPEUSDT+0.0030%8h93.310+0.019%$321.0M$277.1M75xas long as short
Gate HYPE_USDT+0.0046%4h93.329+0.040%$44.5M$54.9M75xas long as short
OKX HYPE-USDT-SWAP+0.0078%8h93.301+0.010%$114.1M$301.7M50xas long as short
Lighter HYPE+0.0096%1h93.362+0.075%$16.3M$61.6M20xas long as short
Lighter RH HYPE+0.0096%1h93.377+0.091%$3.1M$11.6M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.355+0.068%$69K$1.2M50xas long as short
MEXC HYPE_USDT+0.0096%4h93.319+0.029%$89.7M$80.8M100xas long as short
Paradex HYPE-USD-PERP+0.0097%8h93.353+0.066%$339K$162K20xas long as short
Binance HYPEUSDT+0.0100%4h93.354+0.066%$378.6M$876.4M75xas long as short
Katana Perps HYPE-USD+0.0100%8h93.370+0.084%$17K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.377+0.092%$5.8M$43.3M10xas long as short
Hyperliquid HYPE+0.0100%1h93.456+0.176%$2.04B$653.5M10xas long as short
Pacifica HYPE+0.0100%1h93.357+0.070%$10.0M$14.6M20xas long as short
Bulk HYPE-USD+0.0100%1h93.364+0.077%$203K$10K10xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.391+0.106%$45.9M$18.1M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.329+0.040%$225.7M$96.6M75xas long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.371+0.085%$7.4M$10.3M20xas long as short
Variational Omni HYPE+0.0100%8h93.367+0.080%$31.1M$53.9M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.365+0.078%$7.5M$45.5M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.333+0.044%$339K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.388+0.103%$666K$2.6M20xas long as short
Vest HYPE-PERP+0.0100%1h93.432+0.150%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.425+0.143%$472K$2.5M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.371+0.085%$79K$170K20xas long as short
Derive HYPE-PERP+0.0100%1h93.373+0.087%$16.2M$7.5M10xas long as short
SunX HYPE-USDT+0.0100%4h93.399+0.115%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.398+0.114%$2.0M$1.9M10xas long as short
Extended HYPE-USD+0.0104%1h93.290−0.002%$18.4M$43.6M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.389+0.104%$397K$162K20xas long as short
edgeX HYPEUSDC+0.0110%4h93.315+0.024%$5.1M$29.7M30xas long as short
Coinbase International HYPE-PERP-INTX+0.0176%1h93.440+0.159%$4.8M$5.6M50xas long as short
HTX HYPE-USDT+0.0193%4h93.504+0.227%$1.4M$6.0M75xas long as short
Reya HYPERUSDPERP+0.0258%1h93.384+0.099%$79K$140K15xas long as short
Kalshi KXHYPEPERP+0.0277%8h93.438+0.157%$1.9M$5.0M2.3xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0331% / S −0.0156%1h93.426+0.144%$1.4M—100xas long as short
BloFin HYPE-USDT+0.0338%4h93.380+0.094%$17.0M$11.6M75xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0360%1h93.481+0.203%$7.5M$4.4M50xas long as short
RISEx HYPE/USDC+0.0510%1h93.426+0.143%$3.2M$6.3M20xas long as short
Injective HYPE/USDC PERP+0.0519%1h93.220−0.077%$30K$339K12xas long as short
Kraken Futures PF_HYPEUSD+0.0685%1h93.456+0.176%$20.8M$29.8M50xas long as short