Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0046%/8h= −5.0% APRpaid last 24h −0.010%

Price spread now: Bitget against Variational Omni+0.129%7-day average +0.017% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.028%−$3 on $10k

Price spread, last 7 days−0.105%−$10 · spread now +0.129%, 7d avg +0.017%

Together, before fees−0.132%+ Points / potential airdropVariational Omni: Active · farm board−$13 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.112% dearer against Variational Omni than usual: you sell high and buy low (spread +0.129% now, against its 7-day average of +0.017%): +$11 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 8.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni HYPE	94.138	0.0100	pay 0.0100% / 8h	1h 08m	$29.1M	$55.3M	—
Short	Bitget HYPEUSDT	94.259	0.0054	get 0.0027% / 4h	1h 08m	$227.0M	$99.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Variational Omni. 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 Variational OmnibpFee BitgetbpOrdersPrice spread, now +0.129%Rate

Funding earned: −$9.66
Price spread: +0.129% → +0.017%: $11.19
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$10.47
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, just now; Bitget: live order book, 5 min ago. Net counts fees only.

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 Variational Omni RFQ quote, just now	0.43 bp	doesn't fit	3.9 bp −$39	21.6 bp −$2,160	doesn't fit
Sell Bitget live order book, 5 min ago	0.42 bp	8.2 bp −$8	13.7 bp −$137	doesn't fit	doesn't fit

HYPE on 54 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	−0.1136%	1h	94.129	−0.009%	$200K	$236K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0154%	1h	94.262	+0.132%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0089%	1h	94.080	−0.061%	$710K	$1.2M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.153	+0.016%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0068%	1h	94.235	+0.103%	$111K	$578K	20x	as long as short
01 Exchange HYPEUSD	−0.0040%	1h	94.250	+0.119%	$87K	$367K	20x	as long as short
Bluefin HYPE-PERP	−0.0034%	1h	94.277	+0.148%	$80K	$155K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0014%	4h	94.234	+0.102%	$146K	$686K	20x	as long as short
Bybit HYPEUSDT	−0.0004%	8h	94.220	+0.088%	$317.0M	$289.0M	75x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.211	+0.078%	$129K	$26K	5x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXHYPEPERP	0.0000%	8h	94.268	+0.139%	$1.8M	$5.6M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.257	+0.126%	$19K	$287K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.170	+0.034%	$117K	—	150x	as long as short
Phoenix HYPE	+0.0017%	1h	94.223	+0.091%	$207K	$1.1M	10x	as long as short
Bitget HYPEUSDTshort	+0.0054%	4h	94.259	+0.129%	$227.0M	$99.7M	75x
Phemex HYPEUSDT	+0.0065%	8h	94.255	+0.125%	$12.9M	$2.8M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0070%	8h	94.164	+0.028%	$336K	$156K	20x	as long as short
edgeX HYPEUSDC	+0.0083%	4h	94.173	+0.038%	$5.0M	$30.6M	30x	as long as short
Arcus HYPE-USD	+0.0084%	1h	94.153	+0.016%	$1.0M	$3.5M	10x	as long as short
OKX HYPE-USDT-SWAP	+0.0096%	8h	94.262	+0.132%	$116.4M	$319.8M	50x	as long as short
Lighter HYPE	+0.0096%	1h	94.272	+0.142%	$16.3M	$64.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.269	+0.140%	$3.2M	$11.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.241	+0.110%	$79K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.260	+0.130%	$13K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.233	+0.102%	$7.5M	$50.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.345	+0.220%	$2.07B	$686.8M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.237	+0.106%	$8.8M	$37.1M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.175	+0.040%	$10.1M	$15.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.250	+0.119%	$377.2M	$931.3M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.183	+0.048%	$217K	$15K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.250	+0.119%	$49.3M	$57.0M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.263	+0.133%	$89.7M	$85.3M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.262	+0.132%	$46.9M	$18.5M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.246	+0.115%	—	$53.5M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.260	+0.130%	$7.4M	$10.4M	20x	as long as short
Variational Omni HYPElong	+0.0100%	8h	94.138	long leg	$29.1M	$55.3M	—
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.189	+0.055%	$7.6M	$46.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.149	+0.012%	$362K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.193	+0.059%	$681K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.276	+0.147%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.253	+0.123%	$495K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.253	+0.123%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.269	+0.140%	$2.1M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.391	+0.269%	$1.4M	$6.8M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.247	+0.117%	$18.2M	$43.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.307	+0.180%	$399K	$159K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	94.190	+0.056%	$4.7M	$6.2M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0151% / S +0.0022%	1h	94.206	+0.073%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.090	−0.051%	$30K	$340K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0248%	1h	94.359	+0.235%	$7.5M	$4.3M	50x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.248	+0.117%	$83K	$134K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.227	+0.095%	$16.9M	$12.3M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0412%	1h	94.323	+0.197%	$20.2M	$30.3M	50x	as long as short
RISEx HYPE/USDC	+0.0559%	1h	94.212	+0.079%	$3.2M	$6.4M	20x	as long as short