Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.066%

Price spread now: Bitget against Hyperliquid−0.090%7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$260.265% of the position

Long on Hyperliquid Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.140%−$14 on $10k

Price spread, last 7 days+0.097%+$10 · spread now −0.090%, 7d avg −0.019%

Together, before fees−0.043%+ Points / potential airdropHyperliquid: Season 2 · farm board−$4 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: Bitget is 0.071% cheaper against Hyperliquid than usual: you would sell low and buy high, −$7 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	Hyperliquid HYPE	93.655	0.0100	pay 0.0013% / 1h	18m 59s	$2.04B	$670.2M	10x
Short	Bitget HYPEUSDT	93.570	0.0100	get 0.0050% / 4h	2h 18m	$227.3M	$102.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.090%Rate

Funding earned: $0
Price spread: −0.090% → −0.019%: −$7.11
Slippage, 4 orders: −$5.5
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$33.61
Costs to cover: 0.265%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 5 min ago; Bitget: 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 Hyperliquid live order book, 5 min ago	0.05 bp	6.3 bp −$6	7.4 bp −$74	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	0.05 bp	8.3 bp −$8	13.6 bp −$136	doesn't fit	doesn't fit

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	−0.1000%	1h	93.552	−0.109%	$198K	$233K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0286%	1h	93.664	+0.010%	$22K	$22K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0234%	1h	93.550	−0.112%	$703K	$934K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.607	−0.051%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0064%	1h	93.586	−0.073%	$90K	$345K	20x	as long as short
Bullet HYPE-USD	−0.0025%	1h	93.559	−0.102%	$112K	$582K	20x	as long as short
Derive HYPE-PERP	−0.0021%	1h	93.510	−0.155%	$16.4M	$7.0M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.645	−0.011%	$127K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.584	−0.076%	$23K	$337K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.590	−0.069%	$20K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0023%	4h	93.541	−0.121%	$8.9M	$35.8M	300x	as long as short
Gate HYPE_USDT	+0.0030%	4h	93.543	−0.119%	$44.1M	$57.2M	75x	as long as short
Bybit HYPEUSDT	+0.0036%	8h	93.532	−0.131%	$325.7M	$287.1M	75x	as long as short
Popdex HYPEUSDT	+0.0056%	1h	93.560	−0.101%	$59K	$1.2M	50x	as long as short
Orderly PERP_HYPE_USDC	+0.0061%	4h	93.543	−0.119%	$174K	$536K	20x	as long as short
Phoenix HYPE	+0.0068%	1h	93.733	+0.084%	$216K	$1.2M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.596	−0.062%	$18.6M	$59.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.586	−0.073%	$3.1M	$12.4M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0100%	8h	93.622	−0.035%	$340K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.600	−0.058%	$37K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.565	−0.096%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPElong	+0.0100%	1h	93.655	long leg	$2.04B	$670.2M	10x
Pacifica HYPE	+0.0100%	1h	93.615	−0.042%	$10.0M	$14.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.538	−0.125%	$385.9M	$889.0M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.534	−0.129%	$114.9M	$315.8M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.548	−0.114%	$1.2M	$4.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.690	+0.037%	$205K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.542	−0.120%	$93.7M	$82.3M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.559	−0.102%	$46.4M	$18.7M	75x	as long as short
Bitget HYPEUSDTshort	+0.0100%	4h	93.570	−0.090%	$227.3M	$102.4M	75x
BingX HYPE-USDT	+0.0100%	4h	93.552	−0.110%	—	$54.3M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.583	−0.076%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.660	+0.006%	$29.2M	$50.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.753	+0.105%	$7.5M	$45.3M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.678	+0.025%	$407K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.663	+0.009%	$677K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.618	−0.039%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.600	−0.058%	$494K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.548	−0.114%	$76K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.650	−0.005%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.539	−0.123%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.600	−0.058%	$12.8M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.532	−0.131%	$18.3M	$41.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.558	−0.104%	$398K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0104%	4h	93.646	−0.010%	$5.1M	$29.7M	30x	as long as short
Kalshi KXHYPEPERP	+0.0127%	8h	93.667	+0.013%	$1.9M	$5.3M	2.3x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0199%	1h	93.657	+0.003%	$7.4M	$4.6M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.680	+0.027%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0245%	1h	93.565	−0.095%	$78K	$158K	15x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.520	−0.144%	$30K	$291K	12x	as long as short
HTX HYPE-USDT	+0.0300%	4h	93.753	+0.105%	$1.5M	$7.6M	75x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.565	−0.096%	$17.0M	$12.4M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0346% / S −0.0164%	1h	93.600	−0.058%	$1.4M	—	100x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.636	−0.020%	$2.8M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0572%	1h	93.665	+0.011%	$19.2M	$26.0M	50x	as long as short