Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0034%/8h= −3.7% APRpaid last 24h −0.007%

Price spread now: Binance against Pacifica−0.038%7-day average +0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$200.201% of the position

Long on Pacifica Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.080%+$8 on $10k

Price spread, last 7 days+0.035%+$3 · spread now −0.038%, 7d avg +0.010%

Together, before fees+0.114%+ Points / potential airdropPacifica: Active · farm board+$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Binance is 0.047% cheaper against Pacifica than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.010%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.080%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica HYPE	93.971	0.0100	pay 0.0013% / 1h	34m 34s	$10.1M	$14.5M	20x
Short	Binance HYPEUSDT	93.936	0.0066	get 0.0033% / 4h	34m 34s	$384.2M	$891.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Pacifica. 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 PacificabpFee BinancebpOrdersPrice spread, now −0.038%Rate

Funding earned: −$7.15
Price spread: −0.038% → +0.010%: −$4.74
Slippage, 4 orders: −$2.08
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$31.97
Costs to cover: 0.201%
Break-even: never at this rate

Slippage from Pacifica: live order book, 5 min ago; Binance: live order book, 9 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 Pacifica live order book, 5 min ago	0.37 bp	4.7 bp −$5	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 9 min ago	0.05 bp	5.1 bp −$5	7.0 bp −$70	15.1 bp −$1,507	32.1 bp −$16.1K

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	−0.0736%	1h	93.825	−0.155%	$199K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0389%	1h	94.077	+0.113%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	93.854	−0.125%	$1.2M	$3.8M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.958	−0.014%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0044%	1h	93.860	−0.118%	$704K	$908K	10x	as long as short
01 Exchange HYPEUSD	−0.0008%	1h	93.911	−0.064%	$87K	$366K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.037	+0.070%	$128K	$30K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.974	+0.003%	$23K	$329K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.992	+0.022%	$26K	—	150x	as long as short
Derive HYPE-PERP	+0.0002%	1h	93.886	−0.090%	$16.4M	$7.1M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_HYPE_USDC	+0.0006%	4h	93.964	−0.007%	$164K	$579K	20x	as long as short
Phoenix HYPE	+0.0009%	1h	94.133	+0.172%	$215K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0020%	8h	93.911	−0.064%	$323.2M	$282.4M	75x	as long as short
Aster HYPEUSDT	+0.0031%	4h	93.934	−0.039%	$8.9M	$35.9M	300x	as long as short
Phemex HYPEUSDT	+0.0062%	8h	93.961	−0.011%	$12.8M	$2.6M	50x	as long as short
MEXC HYPE_USDT	+0.0064%	4h	93.977	+0.006%	$87.9M	$81.4M	100x	as long as short
Binance HYPEUSDTshort	+0.0066%	4h	93.936	−0.038%	$384.2M	$891.6M	75x
Gate HYPE_USDT	+0.0078%	4h	93.935	−0.038%	$44.4M	$58.8M	75x	as long as short
edgeX HYPEUSDC	+0.0081%	4h	94.027	+0.059%	$5.1M	$29.8M	30x	as long as short
Lighter HYPE	+0.0096%	1h	94.016	+0.047%	$18.9M	$59.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.976	+0.005%	$3.1M	$12.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.929	−0.045%	$63K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.959	−0.013%	$400K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.955	−0.017%	$341K	$171K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.960	−0.012%	$29K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.921	−0.053%	$5.7M	$44.3M	10x	as long as short
Pacifica HYPElong	+0.0100%	1h	93.971	long leg	$10.1M	$14.5M	20x
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.921	−0.053%	$115.9M	$319.8M	50x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.959	−0.013%	$47.2M	$18.4M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.932	−0.042%	$227.5M	$102.7M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.939	−0.034%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.991	+0.021%	$7.9M	$10.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.974	+0.003%	$31.3M	$54.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.053	+0.087%	$7.6M	$45.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.014	+0.046%	$339K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.028	+0.061%	$680K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.963	−0.009%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.947	−0.026%	$491K	$2.5M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	93.944	−0.028%	$112K	$578K	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.937	−0.036%	$76K	$169K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.988	+0.018%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.956	−0.016%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.120	+0.159%	$205K	$7K	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.410	+0.467%	$31K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.921	−0.054%	$18.4M	$42.7M	50x	as long as short
Kalshi KXHYPEPERP	+0.0135%	8h	94.028	+0.061%	$1.9M	$5.0M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	94.040	+0.073%	$4.9M	$5.7M	50x	as long as short
HTX HYPE-USDT	+0.0222%	4h	94.142	+0.182%	$1.5M	$7.8M	75x	as long as short
Reya HYPERUSDPERP	+0.0249%	1h	93.916	−0.059%	$77K	$142K	15x	as long as short
BloFin HYPE-USDT	+0.0264%	4h	93.962	−0.010%	$17.0M	$12.6M	75x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	93.963	−0.008%	$2.8M	$6.9M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0163%	1h	93.979	+0.008%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0346%	1h	94.052	+0.086%	$7.4M	$4.6M	50x	as long as short
Hyperliquid HYPE	+0.0379%	1h	94.048	+0.082%	$2.05B	$668.5M	10x	as long as short
Kraken Futures PF_HYPEUSD	+0.0577%	1h	94.069	+0.105%	$21.0M	$29.3M	50x	as long as short