Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.014%

Price spread now: Bitget against SunX−0.045%7-day average −0.084% · you buy dearer than you sell

Net, funding: paid 7d − costs−$84as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$750.755% of the position

Long on SunX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.084%−$8 on $10k

Price spread, last 3 days (all we have)−0.029%−$3 · spread now −0.045%, 7d avg −0.084%

Together, before fees−0.113%−$11 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 0.039% dearer against SunX than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.084%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX HYPE-USDT	93.911	0.0100	pay 0.0050% / 4h	11m 51s	$32K	$1.6M	20x
Short	Bitget HYPEUSDT	93.869	0.0100	get 0.0050% / 4h	11m 51s	$227.3M	$102.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against SunX. 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 SunXbpFee BitgetbpOrdersPrice spread, now −0.045%Rate

Funding earned: $0
Price spread: −0.045% → −0.084%: $3.9
Slippage, 4 orders: −$55.46
Fee SunX: 4 bp × 2 orders: −$8
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$71.56
Costs to cover: 0.755%
Break-even: never at this rate

Slippage from SunX: live order book, 3 min ago; Bitget: live order book, 2 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 SunX live order book, 3 min ago	19.39 bp	24.1 bp −$24	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	0.21 bp	9.1 bp −$9	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	−0.1176%	1h	93.700	−0.224%	$198K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0401%	1h	93.836	−0.080%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	93.756	−0.165%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0094%	1h	93.800	−0.118%	$705K	$916K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.822	−0.095%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0072%	1h	93.843	−0.072%	$86K	$368K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0002%	4h	93.908	−0.003%	$169K	$588K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.845	−0.071%	$128K	$30K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.866	−0.048%	$23K	$329K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.931	+0.021%	$27K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix HYPE	+0.0009%	1h	93.963	+0.055%	$216K	$1.2M	10x	as long as short
Aster HYPEUSDT	+0.0015%	4h	93.948	+0.040%	$8.9M	$36.1M	300x	as long as short
Bybit HYPEUSDT	+0.0021%	8h	93.898	−0.014%	$323.0M	$283.9M	75x	as long as short
Derive HYPE-PERP	+0.0027%	1h	93.859	−0.056%	$16.4M	$7.1M	10x	as long as short
Phemex HYPEUSDT	+0.0045%	8h	93.834	−0.082%	$12.8M	$2.6M	50x	as long as short
Binance HYPEUSDT	+0.0053%	4h	93.939	+0.029%	$383.5M	$898.1M	75x	as long as short
MEXC HYPE_USDT	+0.0054%	4h	93.934	+0.024%	$88.5M	$82.2M	100x	as long as short
edgeX HYPEUSDC	+0.0061%	4h	93.833	−0.083%	$5.1M	$29.8M	30x	as long as short
Popdex HYPEUSDT	+0.0072%	1h	93.846	−0.069%	$60K	$1.2M	50x	as long as short
Gate HYPE_USDT	+0.0078%	4h	93.927	+0.017%	$44.1M	$59.9M	75x	as long as short
Bullet HYPE-USD	+0.0090%	1h	93.908	−0.004%	$113K	$578K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0093%	8h	93.892	−0.020%	$116.0M	$322.7M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.937	+0.028%	$18.9M	$60.3M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.916	+0.005%	$3.0M	$12.3M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.913	+0.002%	$399K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.904	−0.008%	$341K	$171K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.780	−0.139%	$37K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.875	−0.038%	$5.7M	$44.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.986	+0.080%	$2.04B	$681.0M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.883	−0.030%	$10.1M	$14.6M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.820	−0.097%	$205K	$7K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.960	+0.052%	$46.5M	$18.6M	75x	as long as short
Bitget HYPEUSDTshort	+0.0100%	4h	93.869	−0.045%	$227.3M	$102.2M	75x
BingX HYPE-USDT	+0.0100%	4h	93.924	+0.014%	—	$54.1M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.938	+0.029%	$7.9M	$10.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.861	−0.053%	$31.2M	$54.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.835	−0.081%	$7.6M	$45.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.854	−0.061%	$359K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.811	−0.106%	$678K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.897	−0.015%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.896	−0.016%	$471K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.915	+0.004%	$76K	$172K	20x	as long as short
SunX HYPE-USDTlong	+0.0100%	4h	93.911	long leg	$32K	$1.6M	20x
SoDEX HYPE-USD	+0.0100%	1h	93.883	−0.030%	$2.0M	$2.0M	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.410	+0.531%	$31K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.943	+0.034%	$18.3M	$42.8M	50x	as long as short
Kalshi KXHYPEPERP	+0.0151%	8h	93.951	+0.043%	$1.9M	$5.0M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	93.960	+0.052%	$4.9M	$5.7M	50x	as long as short
HTX HYPE-USDT	+0.0193%	4h	94.050	+0.148%	$1.5M	$7.8M	75x	as long as short
BloFin HYPE-USDT	+0.0217%	4h	93.824	−0.093%	$16.9M	$12.6M	75x	as long as short
Reya HYPERUSDPERP	+0.0249%	1h	93.859	−0.056%	$77K	$142K	15x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	93.897	−0.014%	$2.8M	$6.8M	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0314%	1h	93.991	+0.085%	$7.5M	$4.6M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0163%	1h	93.934	+0.024%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0577%	1h	93.981	+0.074%	$21.0M	$29.5M	50x	as long as short