Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.059%

Price spread now: Binance against Hyperliquid−0.017%7-day average 0.000% · you buy dearer than you sell

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$220.224% of the position

Long on Hyperliquid Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.078%−$8 on $10k

Price spread, last 7 days+0.021%+$2 · spread now −0.017%, 7d avg 0.000%

Together, before fees−0.056%+ Points / potential airdropHyperliquid: Season 2 · farm board−$6 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid HYPE	93.070	0.0100	pay 0.0013% / 1h	57m 21s	$2.03B	$673.5M	10x
Short	Binance HYPEUSDT	93.054	0.0100	get 0.0050% / 4h	1h 57m	$383.7M	$890.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Hyperliquid. 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 HyperliquidbpFee BinancebpOrdersPrice spread, now −0.017%Rate

Funding earned: $0
Price spread: −0.017% → 0.000%: −$1.77
Slippage, 4 orders: −$3.39
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$24.15
Costs to cover: 0.224%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 7 min ago; Binance: live order book, 2 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 Hyperliquid live order book, 7 min ago	0.27 bp	5.2 bp −$5	6.9 bp −$69	doesn't fit	doesn't fit
Sell Binance live order book, 2 min ago	0.05 bp	6.2 bp −$6	7.9 bp −$79	15.1 bp −$1,507	34.0 bp −$17.0K

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	−0.0273%	1h	93.248	+0.191%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0131%	1h	93.044	−0.028%	$1.2M	$4.1M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.214	+0.155%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0049%	1h	93.030	−0.043%	$701K	$931K	10x	as long as short
Derive HYPE-PERP	−0.0033%	1h	92.996	−0.079%	$16.3M	$7.1M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0008%	1h	93.160	+0.096%	$197K	$231K	7x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.181	+0.119%	$127K	$32K	5x	as long as short
01 Exchange HYPEUSD	0.0000%	1h	93.033	−0.040%	$90K	$361K	20x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.137	+0.072%	$1.9M	$5.3M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.032	−0.040%	$23K	$334K	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.081	+0.012%	$20K	—	150x	as long as short
Aster HYPEUSDT	+0.0008%	4h	93.073	+0.003%	$8.9M	$35.8M	300x	as long as short
Popdex HYPEUSDT	+0.0016%	1h	92.989	−0.087%	$56K	$1.2M	50x	as long as short
Bybit HYPEUSDT	+0.0028%	8h	93.061	−0.010%	$323.9M	$286.9M	75x	as long as short
Gate HYPE_USDT	+0.0032%	4h	93.023	−0.050%	$43.9M	$56.3M	75x	as long as short
Orderly PERP_HYPE_USDC	+0.0047%	4h	93.072	+0.002%	$165K	$515K	20x	as long as short
Phoenix HYPE	+0.0068%	1h	93.222	+0.163%	$215K	$1.2M	10x	as long as short
Vest HYPE-PERP	+0.0087%	1h	93.085	+0.017%	—	$454K	5x	as long as short
Lighter HYPE	+0.0096%	1h	93.099	+0.031%	$18.5M	$58.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.080	+0.011%	$3.0M	$12.0M	20x	as long as short
Bullet HYPE-USD	+0.0098%	1h	93.021	−0.053%	$112K	$580K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.144	+0.079%	$338K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.080	+0.011%	$40K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.055	−0.016%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPElong	+0.0100%	1h	93.070	long leg	$2.03B	$673.5M	10x
Pacifica HYPE	+0.0100%	1h	93.143	+0.078%	$10.0M	$14.4M	20x	as long as short
Binance HYPEUSDTshort	+0.0100%	4h	93.054	−0.017%	$383.7M	$890.8M	75x
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.035	−0.038%	$114.3M	$314.2M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.271	+0.216%	$204K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.031	−0.042%	$91.5M	$81.2M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.021	−0.053%	$46.0M	$18.8M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.045	−0.027%	$225.8M	$102.8M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.041	−0.031%	—	$54.1M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.165	+0.102%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.252	+0.195%	$29.1M	$50.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.313	+0.261%	$7.5M	$44.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.276	+0.221%	$405K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.201	+0.141%	$674K	$2.5M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.070	0.000%	$491K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.082	+0.013%	$76K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.161	+0.098%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.054	−0.017%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.081	+0.012%	$12.7M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.018	−0.056%	$18.3M	$41.8M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.060	−0.011%	$396K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0112%	4h	93.244	+0.187%	$5.1M	$29.3M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.070	0.000%	$4.9M	$5.7M	50x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	93.070	0.000%	$30K	$338K	12x	as long as short
Reya HYPERUSDPERP	+0.0246%	1h	93.048	−0.023%	$78K	$158K	15x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.136	+0.071%	$2.8M	$6.8M	20x	as long as short
HTX HYPE-USDT	+0.0300%	4h	93.289	+0.235%	$1.5M	$7.6M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0165%	1h	93.046	−0.025%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.053	−0.018%	$17.0M	$12.4M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0373%	1h	93.151	+0.087%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0466%	1h	93.204	+0.144%	$20.8M	$28.2M	50x	as long as short