Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0060%/8h= +6.6% APRpaid last 24h +0.010%

Price spread now: Extended against Binance−0.029%7-day average −0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$180.183% of the position

Long on Binance Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.038%+$4 on $10k

Price spread, last 7 days+0.023%+$2 · spread now −0.029%, 7d avg −0.037%

Together, before fees+0.061%+ Points / potential airdropExtended: Active · farm board+$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.037%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance HYPEUSDT	93.290	0.0044	pay 0.0022% / 4h	2h 43m	$379.6M	$905.3M	75x
Short	Extended HYPE-USD	93.262	0.0104	get 0.0013% / 1h	43m 11s	$18.4M	$44.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Binance. 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 BinancebpFee ExtendedbpOrdersPrice spread, now −0.029%Rate

Funding earned: $12.65
Price spread: −0.029% → −0.037%: $0.76
Slippage, 4 orders: −$3.25
Fee Binance: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$4.84
Costs to cover: 0.183%
Break-even: 9.7 days

Slippage from Binance: live order book, 16 min ago; Extended: 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 Binance live order book, 16 min ago	0.05 bp	5.2 bp −$5	7.5 bp −$75	16.4 bp −$1,644	doesn't fit
Sell Extended live order book, 6 min ago	0.05 bp	5.4 bp −$5	8.1 bp −$81	26.2 bp −$2,616	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	−0.1008%	1h	93.199	−0.097%	$196K	$229K	7x	as long as short
Arcus HYPE-USD	−0.0786%	1h	93.199	−0.097%	$1.2M	$3.9M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0163%	1h	93.341	+0.055%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0134%	1h	93.340	+0.054%	$698K	$979K	10x	as long as short
Backpack HYPE_USDC_PERP	−0.0106%	1h	93.338	+0.052%	$7.8M	$10.4M	20x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	93.366	+0.082%	$85K	$361K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.343	+0.057%	$3K	$331	25x	as long as short
Gate HYPE_USDT	−0.0078%	4h	93.339	+0.053%	$44.2M	$54.0M	75x	as long as short
Phemex HYPEUSDT	−0.0068%	8h	93.331	+0.044%	$12.7M	$2.7M	50x	as long as short
Orderly PERP_HYPE_USDC	−0.0054%	4h	93.270	−0.021%	$156K	$652K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	−0.0034%	4h	93.335	+0.049%	$8.9M	$36.3M	300x	as long as short
Bluefin HYPE-PERP	−0.0010%	1h	93.301	+0.012%	$79K	$173K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.413	+0.132%	$128K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.352	+0.067%	$22K	$333K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.341	+0.055%	$26K	—	150x	as long as short
Bybit HYPEUSDT	+0.0006%	8h	93.256	−0.036%	$318.8M	$283.5M	75x	as long as short
BingX HYPE-USDT	+0.0018%	4h	93.330	+0.043%	—	$54.2M	—	as long as short
MEXC HYPE_USDT	+0.0040%	4h	93.350	+0.065%	$88.1M	$82.4M	100x	as long as short
Bullet HYPE-USD	+0.0042%	1h	93.343	+0.057%	$111K	$579K	20x	as long as short
Binance HYPEUSDTlong	+0.0044%	4h	93.290	long leg	$379.6M	$905.3M	75x
edgeX HYPEUSDC	+0.0059%	4h	93.354	+0.069%	$5.1M	$30.0M	30x	as long as short
Phoenix HYPE	+0.0060%	1h	93.266	−0.025%	$212K	$1.2M	10x	as long as short
OKX HYPE-USDT-SWAP	+0.0063%	8h	93.229	−0.065%	$114.9M	$314.8M	50x	as long as short
Derive HYPE-PERP	+0.0065%	1h	93.264	−0.028%	$16.2M	$7.6M	10x	as long as short
Aevo HYPE-PERP	+0.0088%	1h	93.269	−0.022%	$397K	$177K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.316	+0.028%	$16.4M	$62.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.307	+0.019%	$3.1M	$11.8M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.357	+0.072%	$65K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0096%	8h	93.426	+0.146%	$339K	$165K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.380	+0.097%	$35K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.356	+0.072%	$6.6M	$44.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.427	+0.147%	$2.04B	$675.7M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.375	+0.092%	$10.0M	$14.7M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.404	+0.122%	$203K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.353	+0.068%	$46.0M	$18.4M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.314	+0.026%	$225.8M	$100.7M	75x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.241	−0.053%	$30.9M	$55.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.215	−0.080%	$7.5M	$47.7M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.381	+0.098%	$337K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.321	+0.034%	$666K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.370	+0.086%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.360	+0.075%	$467K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.364	+0.080%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.281	−0.009%	$2.0M	$2.0M	10x	as long as short
Extended HYPE-USDshort	+0.0104%	1h	93.262	−0.029%	$18.4M	$44.4M	50x
Coinbase International HYPE-PERP-INTX	+0.0136%	1h	93.400	+0.118%	$4.9M	$5.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0137%	1h	93.330	+0.043%	$30K	$338K	12x	as long as short
BloFin HYPE-USDT	+0.0175%	4h	93.407	+0.126%	$17.0M	$12.1M	75x	as long as short
RISEx HYPE/USDC	+0.0210%	1h	93.380	+0.097%	$2.7M	$6.7M	20x	as long as short
HTX HYPE-USDT	+0.0245%	4h	93.499	+0.224%	$1.4M	$6.1M	75x	as long as short
Reya HYPERUSDPERP	+0.0254%	1h	93.334	+0.048%	$79K	$142K	15x	as long as short
Kalshi KXHYPEPERP	+0.0259%	8h	93.416	+0.136%	$1.9M	$5.2M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0334% / S −0.0158%	1h	93.358	+0.073%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0479%	1h	93.399	+0.117%	$7.5M	$4.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0683%	1h	93.362	+0.077%	$20.8M	$30.0M	50x	as long as short