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 −0.013%

Price spread now: Bitget against StandX−0.130%7-day average −0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$290.294% of the position

Long on StandX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.083%−$8 on $10k

Price spread, last 7 days+0.139%+$14 · spread now −0.130%, 7d avg −0.011%

Together, before fees+0.056%+ Points / potential airdropStandX: Active · farm board+$6 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 0.119% cheaper against StandX than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of −0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	StandX HYPE-USD	93.419	0.0100	pay 0.0013% / 1h	58m 28s	$675K	$2.4M	20x
Short	Bitget HYPEUSDT	93.298	0.0100	get 0.0050% / 4h	2h 58m	$226.7M	$103.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against StandX. 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 StandXbpFee BitgetbpOrdersPrice spread, now −0.130%Rate

Funding earned: $0
Price spread: −0.130% → −0.011%: −$11.9
Slippage, 4 orders: −$9.38
Fee StandX: 4 bp × 2 orders: −$8
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$41.28
Costs to cover: 0.294%
Break-even: never at this rate

Slippage from StandX: live order book, just now; Bitget: live order book, 6 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 StandX live order book, just now	1.29 bp	5.3 bp −$5	5.5 bp −$55	13.0 bp −$1,296	doesn't fit
Sell Bitget live order book, 6 min ago	0.05 bp	8.3 bp −$8	11.2 bp −$112	21.0 bp −$2,097	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	−0.1368%	1h	93.352	−0.072%	$197K	$240K	7x	as long as short
Ondo Perps HYPE-USD.P	−0.0154%	1h	93.290	−0.138%	$700K	$952K	10x	as long as short
01 Exchange HYPEUSD	−0.0104%	1h	93.310	−0.117%	$89K	$342K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.371	−0.051%	$3K	$331	25x	as long as short
Aftermath Perps HYPEUSD	−0.0068%	1h	93.398	−0.022%	$22K	$22K	10x	as long as short
Bluefin HYPE-PERP	−0.0009%	1h	93.373	−0.049%	$76K	$168K	20x	as long as short
Popdex HYPEUSDT	−0.0008%	1h	93.301	−0.126%	$56K	$1.2M	50x	as long as short
Bullet HYPE-USD	−0.0006%	1h	93.292	−0.136%	$112K	$583K	20x	as long as short
Gate HYPE_USDT	−0.0006%	4h	93.331	−0.094%	$44.1M	$56.0M	75x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.425	+0.006%	$127K	$33K	5x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXHYPEPERP	0.0000%	8h	93.458	+0.042%	$1.9M	$5.4M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.356	−0.067%	$24K	$343K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.311	−0.116%	$20K	—	150x	as long as short
Aster HYPEUSDT	+0.0008%	4h	93.345	−0.079%	$8.9M	$36.6M	300x	as long as short
Bybit HYPEUSDT	+0.0041%	8h	93.290	−0.138%	$325.1M	$289.4M	75x	as long as short
Derive HYPE-PERP	+0.0058%	1h	93.335	−0.090%	$16.4M	$7.1M	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0079%	4h	93.396	−0.025%	$180K	$537K	20x	as long as short
Phoenix HYPE	+0.0094%	1h	93.444	+0.027%	$216K	$1.1M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.385	−0.037%	$18.6M	$58.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.367	−0.056%	$3.1M	$12.3M	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.360	−0.063%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.332	−0.094%	$6.0M	$44.6M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.367	−0.056%	$2.03B	$673.9M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.360	−0.063%	$10.0M	$14.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.304	−0.123%	$386.2M	$893.4M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.282	−0.147%	$114.6M	$317.4M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.320	−0.106%	$1.2M	$4.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.386	−0.035%	$204K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.299	−0.128%	$92.4M	$81.3M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.308	−0.119%	$46.3M	$19.6M	75x	as long as short
Bitget HYPEUSDTshort	+0.0100%	4h	93.298	−0.130%	$226.7M	$103.1M	75x
BingX HYPE-USDT	+0.0100%	4h	93.334	−0.091%	—	$54.5M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.395	−0.026%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.466	+0.051%	$28.9M	$50.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.411	−0.009%	$7.5M	$46.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.411	−0.009%	$406K	$1.1M	50x	as long as short
StandX HYPE-USDlong	+0.0100%	1h	93.419	long leg	$675K	$2.4M	20x
Vest HYPE-PERP	+0.0100%	1h	93.365	−0.058%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.330	−0.095%	$503K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.406	−0.014%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.367	−0.056%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.404	−0.016%	$12.7M	$2.6M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0101%	8h	93.361	−0.062%	$339K	$171K	20x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.311	−0.116%	$18.4M	$41.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.395	−0.026%	$397K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0113%	4h	93.404	−0.016%	$5.1M	$29.5M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.440	+0.022%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0244%	1h	93.293	−0.135%	$77K	$157K	15x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.340	−0.085%	$30K	$231K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0307%	1h	93.476	+0.061%	$7.4M	$4.6M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0165%	1h	93.407	−0.013%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.363	−0.060%	$17.2M	$12.7M	75x	as long as short
HTX HYPE-USDT	+0.0449%	4h	93.574	+0.166%	$1.5M	$7.6M	75x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.370	−0.052%	$2.7M	$6.9M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0573%	1h	93.490	+0.076%	$18.7M	$24.7M	50x	as long as short