Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.013%

Price spread now: Variational Omni against BingX+0.137%7-day average −0.019% · you sell dearer than you buy

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

Long on BingX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.059%+$6 on $10k

Price spread, last 7 days−0.144%−$14 · spread now +0.137%, 7d avg −0.019%

Together, before fees−0.085%+ Points / potential airdropVariational Omni: Active · farm board−$8 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: Variational Omni is 0.156% dearer against BingX than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of −0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX HYPE-USDT	93.791	0.0100	pay 0.0050% / 4h	3h 06m	—	$53.9M	—
Short	Variational Omni HYPE	93.920	0.0100	get 0.0100% / 8h	7h 06m	$31.4M	$53.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.137%Rate

Funding earned: $0
Price spread: +0.137% → −0.019%: $15.62
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $5.62
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: BingX: live order book, 2 min ago; Variational Omni: RFQ quote, 3 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 BingX live order book, 2 min ago	0.11 bp	5.1 bp −$5	6.2 bp −$62	9.7 bp −$970	16.5 bp −$8,226
Sell Variational Omni RFQ quote, 3 min ago	0.70 bp	doesn't fit	8.7 bp −$87	23.2 bp −$2,324	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	−0.1128%	1h	93.815	+0.025%	$199K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0625%	1h	93.685	−0.113%	$1.2M	$3.9M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0193%	1h	93.943	+0.162%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0098%	1h	93.810	+0.020%	$710K	$958K	10x	as long as short
dYdX HYPE-USD	−0.0084%	1h	93.911	+0.128%	$129K	$31K	5x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	93.787	−0.004%	$85K	$359K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.856	+0.069%	$3K	$331	25x	as long as short
Phemex HYPEUSDT	−0.0054%	8h	93.917	+0.134%	$12.8M	$2.6M	50x	as long as short
Bullet HYPE-USD	−0.0050%	1h	93.799	+0.009%	$113K	$580K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0034%	4h	93.769	−0.023%	$159K	$643K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate HYPE_USDT	−0.0014%	4h	93.788	−0.003%	$44.4M	$60.4M	75x	as long as short
Perpl HYPE	0.0000%	43m	93.836	+0.048%	$23K	$327K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.818	+0.028%	$27K	—	150x	as long as short
Aster HYPEUSDT	+0.0007%	4h	93.800	+0.009%	$8.9M	$36.0M	300x	as long as short
Derive HYPE-PERP	+0.0010%	1h	93.817	+0.028%	$16.4M	$7.6M	10x	as long as short
Bybit HYPEUSDT	+0.0019%	8h	93.783	−0.009%	$322.8M	$279.1M	75x	as long as short
Phoenix HYPE	+0.0034%	1h	94.045	+0.271%	$214K	$1.2M	10x	as long as short
MEXC HYPE_USDT	+0.0054%	4h	93.794	+0.003%	$88.3M	$83.4M	100x	as long as short
Binance HYPEUSDT	+0.0054%	4h	93.794	+0.003%	$383.0M	$893.3M	75x	as long as short
edgeX HYPEUSDC	+0.0055%	4h	94.001	+0.224%	$5.1M	$29.7M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0071%	8h	93.785	−0.006%	$115.9M	$314.3M	50x	as long as short
Bluefin HYPE-PERP	+0.0082%	1h	93.751	−0.043%	$76K	$170K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.884	+0.099%	$18.9M	$60.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.828	+0.039%	$3.0M	$12.2M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.802	+0.012%	$64K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.777	−0.015%	$399K	$180K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.847	+0.060%	$341K	$165K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.780	−0.012%	$31K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.841	+0.054%	$6.6M	$44.6M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.845	+0.058%	$2.05B	$668.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.847	+0.060%	$10.1M	$14.7M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.804	+0.014%	$46.6M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.795	+0.004%	$227.1M	$100.2M	75x	as long as short
BingX HYPE-USDTlong	+0.0100%	4h	93.791	long leg	—	$53.9M	—
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.818	+0.029%	$7.9M	$10.6M	20x	as long as short
Variational Omni HYPEshort	+0.0100%	8h	93.920	+0.137%	$31.4M	$53.7M	—
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.999	+0.222%	$7.6M	$46.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.020	+0.244%	$340K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.866	+0.080%	$670K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.850	+0.063%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.820	+0.031%	$474K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.917	+0.134%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.871	+0.085%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.894	+0.110%	$204K	$10K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.767	−0.026%	$18.4M	$45.1M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.900	+0.116%	$4.9M	$5.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	93.810	+0.020%	$31K	$338K	12x	as long as short
BloFin HYPE-USDT	+0.0218%	4h	93.919	+0.136%	$17.1M	$12.1M	75x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	93.820	+0.031%	$2.7M	$6.7M	20x	as long as short
Kalshi KXHYPEPERP	+0.0244%	8h	93.947	+0.166%	$1.9M	$5.1M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0252%	1h	93.781	−0.010%	$79K	$143K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0335% / S −0.0159%	1h	93.815	+0.026%	$1.4M	—	100x	as long as short
HTX HYPE-USDT	+0.0367%	4h	94.069	+0.296%	$1.5M	$5.9M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0410%	1h	93.963	+0.183%	$7.5M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0672%	1h	93.955	+0.174%	$20.9M	$29.8M	50x	as long as short