Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.009%

Price spread now: SunX against Binance+0.186%46s7-day average +0.052% · you sell dearer than you buy

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

Long on Binance Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.019%+$2 on $10k

Price spread, last 4 days (all we have)−0.150%−$15 · spread now +0.186%, 7d avg +0.052%

Together, before fees−0.131%−$13 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: SunX is 0.135% dearer against Binance than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of +0.052%. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance HYPEUSDT	94.139	0.0100	pay 0.0050% / 4h	1h 01m	$376.8M	$932.6M	75x
Short	SunX HYPE-USDT	94.314	0.0100	get 0.0050% / 4h	1h 01m	$32K	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.186%Rate

Funding earned: $0
Price spread: +0.186% → +0.052%: $13.48
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$4.52
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 12 min ago; SunX: live order book, 4 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 Binance live order book, 12 min ago	0.05 bp	5.1 bp −$5	6.6 bp −$66	15.9 bp −$1,585	doesn't fit
Sell SunX live order book, 4 min ago	29.28 bp	doesn't fit	doesn't fit	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	−0.1088%	1h	94.070	−0.073%	$201K	$235K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0171%	1h	94.256	+0.125%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0098%	1h	94.130	−0.009%	$709K	$1.2M	10x	as long as short
Bluefin HYPE-PERP	−0.0086%	1h	94.176	+0.040%	$80K	$155K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.214	+0.080%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0078%	1h	94.223	+0.090%	$111K	$578K	20x	as long as short
01 Exchange HYPEUSD	−0.0056%	1h	94.143	+0.005%	$87K	$366K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0008%	4h	94.186	+0.050%	$146K	$685K	20x	as long as short
Bybit HYPEUSDT	−0.0007%	8h	94.130	−0.009%	$317.2M	$289.5M	75x	as long as short
BingX HYPE-USDT	−0.0006%	4h	94.155	+0.017%	—	$53.5M	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX HYPE-USD	0.0000%	1h	94.263	+0.132%	$129K	$26K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.292	+0.163%	$1.8M	$5.6M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.242	+0.110%	$19K	$287K	10x	as long as short
Derive HYPE-PERP	+0.0001%	1h	94.110	−0.031%	$16.4M	$7.5M	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.250	+0.118%	$117K	—	150x	as long as short
Phoenix HYPE	+0.0017%	1h	94.230	+0.097%	$206K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0046%	4h	94.134	−0.005%	$226.4M	$100.0M	75x	as long as short
Phemex HYPEUSDT	+0.0054%	8h	94.205	+0.071%	$12.9M	$2.9M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0063%	8h	94.200	+0.065%	$337K	$156K	20x	as long as short
edgeX HYPEUSDC	+0.0082%	4h	94.160	+0.022%	$5.0M	$30.8M	30x	as long as short
Arcus HYPE-USD	+0.0084%	1h	94.129	−0.010%	$1.0M	$3.5M	10x	as long as short
OKX HYPE-USDT-SWAP	+0.0091%	8h	94.146	+0.008%	$116.8M	$321.4M	50x	as long as short
Lighter HYPE	+0.0096%	1h	94.182	+0.046%	$16.3M	$64.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.192	+0.057%	$3.2M	$11.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.137	−0.002%	$79K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.160	+0.023%	$14K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.136	−0.002%	$7.3M	$50.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.281	+0.151%	$2.07B	$688.7M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.154	+0.016%	$8.8M	$37.2M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.197	+0.062%	$10.1M	$15.5M	20x	as long as short
Binance HYPEUSDTlong	+0.0100%	4h	94.139	long leg	$376.8M	$932.6M	75x
Bulk HYPE-USD	+0.0100%	1h	94.183	+0.047%	$217K	$15K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.169	+0.032%	$49.4M	$57.2M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.168	+0.031%	$89.6M	$85.5M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.178	+0.042%	$46.9M	$18.6M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.177	+0.041%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.239	+0.106%	$29.1M	$55.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.203	+0.068%	$7.6M	$46.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.175	+0.039%	$347K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.233	+0.100%	$681K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.286	+0.157%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.249	+0.117%	$495K	$2.8M	20x	as long as short
SunX HYPE-USDTshort	+0.0100%	4h	94.314	+0.186%	$32K	$1.6M	20x
SoDEX HYPE-USD	+0.0100%	1h	94.199	+0.064%	$2.1M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.391	+0.268%	$1.4M	$6.8M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.116	−0.024%	$18.3M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.210	+0.076%	$398K	$159K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	94.240	+0.108%	$4.7M	$6.2M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0151% / S +0.0023%	1h	94.262	+0.131%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.150	+0.012%	$30K	$340K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0227%	1h	94.297	+0.168%	$7.5M	$4.3M	50x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.201	+0.067%	$82K	$134K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.215	+0.081%	$17.0M	$12.3M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0413%	1h	94.264	+0.133%	$20.2M	$30.3M	50x	as long as short
RISEx HYPE/USDC	+0.0559%	1h	94.271	+0.141%	$3.2M	$6.4M	20x	as long as short