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 +0.008%

Price spread now: KuCoin against BingX+0.051%7-day average +0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$25as in the Funding arb table

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

costs, in and out, $10k−$320.319% of the position

Long on BingX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.072%+$7 on $10k

Price spread, last 7 days−0.035%−$3 · spread now +0.051%, 7d avg +0.010%

Together, before fees+0.037%+$4 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: KuCoin is 0.042% dearer against BingX than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX HYPE-USDT	93.223	0.0100	pay 0.0050% / 4h	1h 46m	—	$54.0M	—
Short	KuCoin HYPEUSDTM	93.271	0.0100	get 0.0050% / 4h	1h 46m	$47.2M	$19.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against BingX. 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 BingXbpFee KuCoinbpOrdersPrice spread, now +0.051%Rate

Funding earned: $0
Price spread: +0.051% → +0.010%: $4.19
Slippage, 4 orders: −$9.92
Fee BingX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$27.73
Costs to cover: 0.319%
Break-even: never at this rate

Slippage from BingX: live order book, 7 min ago; KuCoin: 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 BingX live order book, 7 min ago	0.16 bp	5.2 bp −$5	5.5 bp −$55	8.3 bp −$832	15.4 bp −$7,692
Sell KuCoin live order book, 2 min ago	1.34 bp	11.6 bp −$12	15.9 bp −$159	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
Aftermath Perps HYPEUSD	−0.0320%	1h	93.105	−0.127%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0131%	1h	93.194	−0.031%	$1.2M	$4.0M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.221	−0.002%	$3K	$331	25x	as long as short
Hibachi HYPE/USDT-P	−0.0080%	1h	93.088	−0.145%	$197K	$231K	7x	as long as short
01 Exchange HYPEUSD	−0.0008%	1h	93.245	+0.024%	$90K	$362K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0002%	1h	93.120	−0.110%	$697K	$924K	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.275	+0.056%	$127K	$32K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.266	+0.046%	$1.9M	$5.3M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.203	−0.022%	$23K	$331K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.200	−0.025%	$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	93.219	−0.005%	$8.9M	$36.0M	300x	as long as short
Derive HYPE-PERP	+0.0016%	1h	93.141	−0.088%	$16.3M	$7.1M	10x	as long as short
Popdex HYPEUSDT	+0.0016%	1h	93.215	−0.009%	$57K	$1.2M	50x	as long as short
Bybit HYPEUSDT	+0.0031%	8h	93.259	+0.039%	$324.1M	$286.9M	75x	as long as short
Phoenix HYPE	+0.0034%	1h	93.178	−0.048%	$216K	$1.2M	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0039%	4h	93.189	−0.036%	$169K	$520K	20x	as long as short
Gate HYPE_USDT	+0.0066%	4h	93.231	+0.009%	$43.7M	$57.6M	75x	as long as short
Bullet HYPE-USD	+0.0083%	1h	93.144	−0.084%	$112K	$579K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.238	+0.016%	$18.5M	$58.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.210	−0.014%	$3.0M	$12.1M	20x	as long as short
MEXC HYPE_USDT	+0.0096%	4h	93.266	+0.046%	$90.5M	$81.5M	100x	as long as short
Binance HYPEUSDT	+0.0098%	4h	93.249	+0.028%	$383.7M	$892.6M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.211	−0.013%	$339K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.200	−0.025%	$40K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.189	−0.036%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.227	+0.004%	$2.03B	$671.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.242	+0.020%	$10.0M	$14.3M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.240	+0.018%	$114.1M	$314.7M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.884	−0.364%	$203K	$10K	10x	as long as short
KuCoin HYPEUSDTMshort	+0.0100%	4h	93.271	+0.051%	$47.2M	$19.1M	75x
Bitget HYPEUSDT	+0.0100%	4h	93.276	+0.057%	$226.1M	$102.8M	75x	as long as short
BingX HYPE-USDTlong	+0.0100%	4h	93.223	long leg	—	$54.0M	—
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.259	+0.039%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.887	−0.360%	$28.9M	$50.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.983	−0.258%	$7.5M	$45.3M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.003	−0.236%	$411K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.000	−0.239%	$673K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.205	−0.019%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.245	+0.024%	$493K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.248	+0.027%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.189	−0.036%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.211	−0.013%	$12.7M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.239	+0.017%	$18.3M	$42.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.190	−0.035%	$396K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0108%	4h	92.923	−0.321%	$5.0M	$29.5M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.170	−0.057%	$4.9M	$5.7M	50x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	93.170	−0.057%	$30K	$338K	12x	as long as short
Reya HYPERUSDPERP	+0.0246%	1h	93.183	−0.043%	$78K	$158K	15x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.281	+0.062%	$2.8M	$6.8M	20x	as long as short
HTX HYPE-USDT	+0.0285%	4h	93.308	+0.091%	$1.5M	$7.7M	75x	as long as short
Bluefin HYPE-PERP	+0.0304%	1h	93.207	−0.017%	$76K	$168K	20x	as long as short
BloFin HYPE-USDT	+0.0338%	4h	93.191	−0.034%	$17.0M	$12.5M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0340% / S −0.0159%	1h	93.193	−0.032%	$1.5M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0394%	1h	93.291	+0.073%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0466%	1h	93.304	+0.087%	$20.8M	$28.6M	50x	as long as short