Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0180%/8h= +19.7% APRpaid last 24h +0.045%

Price spread now: Binance against Hotstuff+0.037%7-day average — · you sell dearer than you buy

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

Long on Hotstuff Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Binance is 0.037% dearer against Hotstuff than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff HYPE-PERP	94.103	−0.0080	get 0.0010% / 1h	59m 00s	$3K	$331	25x
Short	Binance HYPEUSDT	94.138	0.0100	get 0.0050% / 4h	59m 00s	$376.7M	$932.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Hotstuff. 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 HotstuffbpFee BinancebpOrdersPrice spread, now +0.037%Rate

Funding earned: $37.8
Price spread: +0.037% → 0.000%: $3.72
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Binance: 5 bp × 2 orders: −$10
Net: $26.52
Costs to cover: 0.150%
Break-even: 2.1 days

Slippage unknown: Hotstuff: no order-book sample; Binance: live order book, 15 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 Hotstuff no order-book sample	—	—	—	—	—
Sell Binance live order book, 15 min ago	0.05 bp	6.2 bp −$6	8.5 bp −$85	16.6 bp −$1,663	36.1 bp −$18.1K

Hotstuff: 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
Hibachi HYPE/USDT-P	−0.1088%	1h	94.072	−0.033%	$201K	$235K	7x	as long as short
Bluefin HYPE-PERP	−0.0490%	1h	94.090	−0.014%	$80K	$155K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0399%	1h	94.080	−0.024%	$709K	$1.2M	10x	as long as short
Bullet HYPE-USD	−0.0287%	1h	94.113	+0.011%	$111K	$578K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0174%	1h	94.230	+0.135%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0152%	1h	94.115	+0.013%	$87K	$366K	20x	as long as short
Hotstuff HYPE-PERPlong	−0.0080%	1h	94.103	long leg	$3K	$331	25x
Bybit HYPEUSDT	−0.0010%	8h	94.128	+0.027%	$317.1M	$289.6M	75x	as long as short
Orderly PERP_HYPE_USDC	−0.0008%	4h	94.094	−0.010%	$146K	$685K	20x	as long as short
BingX HYPE-USDT	−0.0006%	4h	94.140	+0.039%	—	$53.6M	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX HYPE-USD	0.0000%	1h	94.176	+0.078%	$129K	$26K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.231	+0.136%	$1.8M	$5.6M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.129	+0.028%	$19K	$287K	10x	as long as short
Derive HYPE-PERP	+0.0001%	1h	94.110	+0.007%	$16.4M	$7.5M	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.140	+0.039%	$117K	—	150x	as long as short
Phoenix HYPE	+0.0017%	1h	94.254	+0.160%	$208K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0042%	4h	94.138	+0.037%	$226.5M	$100.0M	75x	as long as short
Phemex HYPEUSDT	+0.0058%	8h	94.167	+0.068%	$12.8M	$2.9M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0059%	8h	94.153	+0.053%	$336K	$156K	20x	as long as short
SoDEX HYPE-USD	+0.0061%	1h	94.121	+0.019%	$2.0M	$1.9M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0064%	1h	94.210	+0.114%	$4.7M	$6.2M	50x	as long as short
edgeX HYPEUSDC	+0.0082%	4h	94.140	+0.039%	$5.0M	$30.8M	30x	as long as short
Arcus HYPE-USD	+0.0084%	1h	94.086	−0.018%	$1.0M	$3.5M	10x	as long as short
OKX HYPE-USDT-SWAP	+0.0089%	8h	94.135	+0.034%	$117.4M	$322.3M	50x	as long as short
Lighter HYPE	+0.0096%	1h	94.121	+0.019%	$16.2M	$63.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.142	+0.041%	$3.2M	$10.6M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.104	+0.001%	$79K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.150	+0.050%	$14K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.103	+0.001%	$7.3M	$50.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.243	+0.149%	$2.07B	$689.2M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.157	+0.057%	$8.8M	$37.2M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.153	+0.053%	$10.1M	$15.4M	20x	as long as short
Binance HYPEUSDTshort	+0.0100%	4h	94.138	+0.037%	$376.7M	$932.5M	75x
Bulk HYPE-USD	+0.0100%	1h	94.065	−0.040%	$217K	$12K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.138	+0.037%	$49.5M	$55.9M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.147	+0.047%	$90.8M	$81.6M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.138	+0.037%	$46.9M	$18.6M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.127	+0.026%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.059	−0.047%	$29.1M	$55.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.167	+0.068%	$7.6M	$46.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.120	+0.018%	$362K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.189	+0.091%	$681K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.169	+0.071%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.138	+0.037%	$494K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.180	+0.082%	$32K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.261	+0.168%	$1.4M	$6.8M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.092	−0.012%	$18.3M	$43.4M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.145	+0.044%	$398K	$159K	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0151% / S +0.0021%	1h	94.157	+0.057%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0185%	1h	94.550	+0.475%	$31K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0223%	1h	94.183	+0.085%	$20.2M	$30.3M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0228%	1h	94.211	+0.115%	$7.4M	$4.3M	50x	as long as short
RISEx HYPE/USDC	+0.0249%	1h	94.151	+0.051%	$3.2M	$6.4M	20x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.097	−0.007%	$82K	$134K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.136	+0.035%	$17.0M	$12.4M	75x	as long as short