Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0027%/8h= +3.0% APRpaid last 24h −0.007%

Price spread now: Binance against Paradex+0.022%7-day average −0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$190.186% of the position

Long on Paradex Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.005%$0 on $10k

Price spread, last 4 days (all we have)+0.066%+$7 · spread now +0.022%, 7d avg −0.008%

Together, before fees+0.062%+ Points / potential airdropParadex: Active · farm board+$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Binance is 0.031% dearer against Paradex than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex HYPE-USD-PERP	95.262	0.0073	pay 0.0073% / 8h	5h 58m	$340K	$35K	20x
Short	Binance HYPEUSDT	95.283	0.0100	get 0.0050% / 4h	1h 58m	$382.9M	$858.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Paradex. 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 ParadexbpFee BinancebpOrdersPrice spread, now +0.022%Rate

Funding earned: $5.71
Price spread: +0.022% → −0.008%: $3.06
Slippage, 4 orders: −$4.62
Fee Paradex: 2 bp × 2 orders: −$4
Fee Binance: 5 bp × 2 orders: −$10
Net: −$9.86
Costs to cover: 0.186%
Break-even: 19.1 days

Slippage from Paradex: live order book, 54 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 Paradex live order book, 54 min ago	1.42 bp	3.4 bp −$3	8.3 bp −$83	doesn't fit	doesn't fit
Sell Binance live order book, 9 min ago	0.05 bp	5.6 bp −$6	8.2 bp −$82	15.2 bp −$1,523	doesn't fit

HYPE on 54 exchanges

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	−0.1320%	1h	95.200	−0.065%	$212K	$261K	7x	as long as short
Bullet HYPE-USD	−0.0400%	1h	95.257	−0.005%	$114K	$582K	20x	as long as short
Phemex HYPEUSDT	−0.0282%	8h	95.237	−0.026%	$13.0M	$2.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	−0.0251%	1h	95.280	+0.019%	$18.6M	$35.3M	50x	as long as short
Aftermath Perps HYPEUSD	−0.0141%	1h	95.192	−0.073%	$22K	$17K	10x	as long as short
Arcus HYPE-USD	−0.0130%	1h	95.242	−0.021%	$1.1M	$2.4M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0125%	1h	95.140	−0.128%	$690K	$1.3M	10x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	95.259	−0.003%	$92K	$346K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	95.191	−0.074%	$3K	$331	25x	as long as short
Gate HYPE_USDT	−0.0070%	4h	95.272	+0.011%	$54.6M	$53.0M	75x	as long as short

Show all 54 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International HYPE-PERP-INTX	−0.0056%	1h	95.310	+0.050%	$4.7M	$5.6M	50x	as long as short
Orderly PERP_HYPE_USDC	−0.0039%	4h	95.248	−0.015%	$148K	$643K	20x	as long as short
Aster HYPEUSDT	−0.0025%	4h	95.272	+0.011%	$9.0M	$33.0M	300x	as long as short
Lighter HYPE	−0.0024%	1h	95.263	+0.001%	$16.3M	$57.4M	20x	as long as short
OKX HYPE-USDT-SWAP	−0.0009%	8h	95.254	−0.008%	$119.3M	$304.6M	50x	as long as short
Popdex HYPEUSDT	−0.0008%	1h	95.251	−0.011%	$274K	$1.0M	50x	as long as short
dYdX HYPE-USD	0.0000%	1h	95.259	−0.003%	$129K	$94K	5x	as long as short
Perpl HYPE	0.0000%	43m	95.283	+0.022%	$24K	$254K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	95.303	+0.044%	$100K	—	150x	as long as short
Bulk HYPE-USD	+0.0016%	1h	95.192	−0.073%	$232K	$12K	10x	as long as short
Phoenix HYPE	+0.0017%	1h	95.204	−0.061%	$201K	$945K	10x	as long as short
Bitget HYPEUSDT	+0.0020%	4h	95.271	+0.010%	$229.0M	$87.2M	75x	as long as short
Bybit HYPEUSDT	+0.0033%	8h	95.280	+0.019%	$321.2M	$266.9M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0044%	1h	95.363	+0.106%	$7.5M	$4.3M	50x	as long as short
Vest HYPE-PERP	+0.0054%	1h	95.309	+0.050%	—	$80K	5x	as long as short
Paradex HYPE-USD-PERPlong	+0.0073%	8h	95.262	long leg	$340K	$35K	20x
edgeX HYPEUSDC	+0.0095%	4h	95.110	−0.160%	$5.1M	$29.5M	30x	as long as short
Lighter RH HYPE	+0.0096%	1h	95.290	+0.029%	$3.3M	$9.9M	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	95.180	−0.086%	$39K	$1.5M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	95.288	+0.028%	$7.3M	$52.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	95.365	+0.108%	$2.11B	$649.9M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	95.286	+0.025%	$10.3M	$13.3M	20x	as long as short
Binance HYPEUSDTshort	+0.0100%	4h	95.283	+0.022%	$382.9M	$858.8M	75x
MEXC HYPE_USDT	+0.0100%	4h	95.279	+0.018%	$90.8M	$83.0M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	95.271	+0.010%	$48.1M	$17.6M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	95.280	+0.019%	—	$48.5M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	95.326	+0.067%	$7.9M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	95.143	−0.125%	$30.0M	$53.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	95.108	−0.162%	$7.7M	$40.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	95.136	−0.132%	$347K	$883K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	95.226	−0.038%	$693K	$2.8M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	95.290	+0.029%	$504K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	95.278	+0.017%	$79K	$136K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	95.372	+0.116%	$33K	$1.4M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	95.281	+0.020%	$2.1M	$373K	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.397	+0.142%	$1.4M	$5.4M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	95.249	−0.013%	$18.4M	$40.0M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	95.272	+0.011%	$403K	$130K	20x	as long as short
Kalshi KXHYPEPERP	+0.0122%	8h	95.349	+0.091%	$1.8M	$5.1M	2.3x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	95.282	+0.021%	$3.2M	$5.5M	20x	as long as short
Reya HYPERUSDPERP	+0.0270%	1h	95.230	−0.034%	$85K	$100K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0155%	1h	95.246	−0.017%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	95.205	−0.060%	$17.3M	$11.6M	75x	as long as short
Injective HYPE/USDC PERP	+0.0969%	1h	95.400	+0.145%	$31K	$334K	12x	as long as short