Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0204%/8h= +22.3% APRpaid last 24h +0.018%

Price spread now: Binance against 01 Exchange−0.009%7-day average −0.022% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$290.295% of the position

Long on 01 Exchange Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.024%+$2 on $10k

Price spread, last 4 days (all we have)−0.165%−$16 · spread now −0.009%, 7d avg −0.022%

Together, before fees−0.141%−$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.022%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.024% in total (about 2.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange HYPEUSD	93.315	−0.0104	get 0.0013% / 1h	56m 57s	$89K	$340K	20x
Short	Binance HYPEUSDT	93.307	0.0100	get 0.0050% / 4h	2h 56m	$386.2M	$893.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against 01 Exchange. 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 01 ExchangebpFee BinancebpOrdersPrice spread, now −0.009%Rate

Funding earned: $42.84
Price spread: −0.009% → −0.022%: $1.28
Slippage, 4 orders: −$12.45
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: $14.67
Costs to cover: 0.295%
Break-even: 4.6 days

Slippage from 01 Exchange: live order book, 32 min ago; Binance: 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 01 Exchange live order book, 32 min ago	0.21 bp	8.8 bp −$9	20.7 bp −$207	doesn't fit	doesn't fit
Sell Binance live order book, 2 min ago	0.05 bp	5.1 bp −$5	7.5 bp −$75	13.9 bp −$1,389	29.7 bp −$14.8K

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	−0.1360%	1h	93.304	−0.012%	$197K	$239K	7x	as long as short
Ondo Perps HYPE-USD.P	−0.0175%	1h	93.260	−0.059%	$700K	$952K	10x	as long as short
01 Exchange HYPEUSDlong	−0.0104%	1h	93.315	long leg	$89K	$340K	20x
Hotstuff HYPE-PERP	−0.0080%	1h	93.318	+0.003%	$3K	$331	25x	as long as short
Aftermath Perps HYPEUSD	−0.0078%	1h	93.364	+0.053%	$22K	$22K	10x	as long as short
Gate HYPE_USDT	−0.0002%	4h	93.297	−0.019%	$44.1M	$56.1M	75x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.341	+0.027%	$127K	$33K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.419	+0.111%	$1.9M	$5.4M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.260	−0.059%	$24K	$343K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.334	+0.020%	$20K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0005%	4h	93.290	−0.027%	$8.9M	$36.5M	300x	as long as short
Popdex HYPEUSDT	+0.0016%	1h	93.305	−0.011%	$56K	$1.2M	50x	as long as short
Bybit HYPEUSDT	+0.0041%	8h	93.290	−0.027%	$325.2M	$289.1M	75x	as long as short
Derive HYPE-PERP	+0.0058%	1h	93.260	−0.058%	$16.4M	$7.1M	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0078%	4h	93.315	0.000%	$180K	$537K	20x	as long as short
Bluefin HYPE-PERP	+0.0079%	1h	93.301	−0.015%	$76K	$168K	20x	as long as short
Bullet HYPE-USD	+0.0087%	1h	93.302	−0.014%	$112K	$583K	20x	as long as short
Phoenix HYPE	+0.0094%	1h	93.444	+0.138%	$216K	$1.1M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.363	+0.052%	$18.5M	$58.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.335	+0.021%	$3.1M	$12.3M	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.360	+0.048%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.278	−0.040%	$6.0M	$44.5M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.365	+0.054%	$2.03B	$674.0M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.299	−0.017%	$10.0M	$14.5M	20x	as long as short
Binance HYPEUSDTshort	+0.0100%	4h	93.307	−0.009%	$386.2M	$893.5M	75x
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.292	−0.025%	$114.6M	$316.9M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.269	−0.049%	$1.2M	$4.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.386	+0.076%	$204K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.302	−0.014%	$92.2M	$81.3M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.310	−0.005%	$46.3M	$19.6M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.314	−0.001%	$226.7M	$102.8M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.298	−0.018%	—	$54.5M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.345	+0.032%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.466	+0.162%	$28.9M	$50.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.403	+0.094%	$7.5M	$46.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.402	+0.093%	$405K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.364	+0.053%	$675K	$2.4M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.359	+0.047%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.355	+0.043%	$493K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.291	−0.026%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.296	−0.020%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.351	+0.039%	$12.7M	$2.6M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0101%	8h	93.309	−0.006%	$339K	$171K	20x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.290	−0.026%	$18.4M	$41.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.318	+0.003%	$397K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0108%	4h	93.382	+0.072%	$5.1M	$29.4M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.380	+0.070%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0244%	1h	93.311	−0.004%	$77K	$157K	15x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.220	−0.102%	$30K	$231K	12x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0165%	1h	93.331	+0.017%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.309	−0.006%	$17.2M	$12.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0371%	1h	93.414	+0.106%	$7.4M	$4.6M	50x	as long as short
HTX HYPE-USDT	+0.0432%	4h	93.459	+0.154%	$1.5M	$7.6M	75x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.379	+0.068%	$2.7M	$6.9M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0574%	1h	93.440	+0.134%	$18.7M	$24.8M	50x	as long as short