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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
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Alert: spread
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Funding you earn now, next payment 01:00 UTC−0.0572%/8h= −62.6% APRpaid last 24h −0.019%
Price spread now: BingX against Kraken Futures−0.072%7-day average −0.051% · you buy dearer than you sell
Net, funding: paid 7d − costs−$43as in the Funding arb table
Net, price: spread back to 7d avg − costs−$30as in the Price arb table
costs, in and out, $10k−$280.283% of the position
Long on Kraken FuturesShort on BingX
What this pair did over the last
the charts below follow
Funding, last 7 days−0.150%−$15 on $10k
Price spread, last 3 days (all we have)+0.043%+$4 · spread now −0.072%, 7d avg −0.051%
Together, before fees−0.107%−$11 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and BingX is 0.021% cheaper against Kraken Futures than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.051%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.150% in total (about -7.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKraken Futures PF_HYPEUSD94.0100.0672pay 0.0084% / 1h11m 01s$21.0M$29.8M50x
ShortBingX HYPE-USDT93.9420.0100get 0.0050% / 4h3h 11m—$54.1M—

Funding history

latest
Range statsloading…

Price spread between the two exchanges

BingX against Kraken Futures. 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
−$120.05
Price spread: −0.072% → −0.051%
−$2.07
Slippage, 4 orders
−$8.29
Fee Kraken Futures: 5 bp × 2 orders
−$10
Fee BingX: 5 bp × 2 orders
−$10
Net
−$150.4
Costs to cover
0.283%
Break-even
never at this rate
Slippage from Kraken Futures: live order book, 3 min ago; BingX: live order book, 13 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 Kraken Futures live order book, 3 min ago1.01 bp8.7 bp −$914.2 bp −$14222.9 bp −$2,28572.8 bp −$36.4K
Sell BingX live order book, 13 min ago0.16 bp5.3 bp −$56.9 bp −$6911.9 bp −$1,19116.7 bp −$8,327

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-P−0.1184%1h93.935−0.080%$199K$228K7xas long as short
Arcus HYPE-USD−0.0625%1h93.859−0.160%$1.2M$3.9M10xas long as short
Aftermath Perps HYPEUSD−0.0204%1h93.946−0.067%$22K$21K10xas long as short
Ondo Perps HYPE-USD.P−0.0108%1h93.870−0.148%$710K$960K10xas long as short
dYdX HYPE-USD−0.0093%1h94.002−0.009%$129K$31K5xas long as short
Phemex HYPEUSDT−0.0089%8h93.940−0.074%$12.8M$2.6M50xas long as short
01 Exchange HYPEUSD−0.0080%1h93.970−0.042%$86K$359K20xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.964−0.048%$3K$33125xas long as short
Bullet HYPE-USD−0.0054%1h93.970−0.042%$113K$581K20xas long as short
Gate HYPE_USDT−0.0034%4h93.923−0.092%$44.5M$60.3M75xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Orderly PERP_HYPE_USDC−0.0028%4h93.908−0.108%$159K$643K20xas long as short
Bybit HYPEUSDT0.0000%8h93.950−0.063%$323.4M$279.9M75xas long as short
Perpl HYPE0.0000%43m93.946−0.067%$23K$327K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0003%1h93.980−0.031%$26K—150xas long as short
Aster HYPEUSDT+0.0009%4h93.939−0.075%$8.9M$36.1M300xas long as short
Derive HYPE-PERP+0.0017%1h93.891−0.126%$16.4M$7.3M10xas long as short
Phoenix HYPE+0.0034%1h94.071+0.065%$218K$1.2M10xas long as short
Binance HYPEUSDT+0.0052%4h93.949−0.064%$383.5M$894.4M75xas long as short
MEXC HYPE_USDT+0.0052%4h93.943−0.071%$88.5M$83.3M100xas long as short
edgeX HYPEUSDC+0.0058%4h93.999−0.011%$5.1M$30.1M30xas long as short
OKX HYPE-USDT-SWAP+0.0074%8h93.978−0.034%$116.1M$315.5M50xas long as short
Lighter HYPE+0.0096%1h93.967−0.045%$19.0M$60.5M20xas long as short
Lighter RH HYPE+0.0096%1h93.965−0.047%$3.0M$12.2M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.966−0.046%$65K$1.2M50xas long as short
Aevo HYPE-PERP+0.0096%1h93.977−0.035%$400K$180K20xas long as short
Paradex HYPE-USD-PERP+0.0099%8h93.987−0.024%$341K$165K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.960−0.053%$29K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.921−0.094%$6.6M$44.7M10xas long as short
Hyperliquid HYPE+0.0100%1h93.985−0.026%$2.05B$676.6M10xas long as short
Pacifica HYPE+0.0100%1h93.987−0.024%$10.2M$14.6M20xas long as short
Bulk HYPE-USD+0.0100%1h93.528−0.512%$204K$12K10xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.935−0.079%$46.7M$18.3M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.998−0.012%$227.6M$100.3M75xas long as short
BingX HYPE-USDTshort+0.0100%4h93.942−0.072%—$54.1M—
Backpack HYPE_USDC_PERP+0.0100%1h93.947−0.067%$7.8M$10.3M20xas long as short
Variational Omni HYPE+0.0100%8h93.920−0.096%$31.4M$53.7M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h94.053+0.046%$7.6M$46.1M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h94.061+0.055%$340K$1.1M50xas long as short
StandX HYPE-USD+0.0100%1h94.040+0.032%$671K$2.6M20xas long as short
Vest HYPE-PERP+0.0100%1h94.005−0.005%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.996−0.014%$475K$2.5M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.933−0.081%$76K$170K20xas long as short
SunX HYPE-USDT+0.0100%4h94.048+0.041%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.934−0.080%$2.0M$2.0M10xas long as short
Extended HYPE-USD+0.0104%1h93.986−0.025%$18.4M$45.3M50xas long as short
Coinbase International HYPE-PERP-INTX+0.0144%1h94.000−0.010%$4.9M$5.5M50xas long as short
Injective HYPE/USDC PERP+0.0205%1h94.490+0.511%$31K$338K12xas long as short
BloFin HYPE-USDT+0.0208%4h93.959−0.054%$17.0M$12.1M75xas long as short
RISEx HYPE/USDC+0.0222%1h94.005−0.005%$2.7M$6.7M20xas long as short
Kalshi KXHYPEPERP+0.0238%8h94.035+0.027%$1.9M$5.1M2.3xas long as short
Reya HYPERUSDPERP+0.0252%1h93.960−0.052%$79K$143K15xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0335% / S −0.0158%1h93.975−0.037%$1.4M—100xas long as short
HTX HYPE-USDT+0.0373%4h94.120+0.117%$1.5M$5.9M75xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0484%1h94.031+0.023%$7.5M$4.7M50xas long as short
Kraken Futures PF_HYPEUSDlong+0.0672%1h94.010long leg$21.0M$29.8M50x