Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0092%/8h= −10.1% APRpaid last 24h −0.016%

Price spread now: 01 Exchange against BingX+0.052%7-day average +0.036% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$230.233% of the position

Long on BingX Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.024%+$2 on $10k

Price spread, last 4 days (all we have)−0.042%−$4 · spread now +0.052%, 7d avg +0.036%

Together, before fees−0.019%−$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.036%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX HYPE-USDT	94.439	−0.0020	get 0.0010% / 4h	17m 58s	—	$52.7M	—
Short	01 Exchange HYPEUSD	94.488	−0.0112	pay 0.0014% / 1h	17m 58s	$88K	$367K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now +0.052%Rate

Funding earned: −$19.32
Price spread: +0.052% → +0.036%: $1.58
Slippage, 4 orders: −$6.26
Fee BingX: 5 bp × 2 orders: −$10
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$41
Costs to cover: 0.233%
Break-even: never at this rate

Slippage from BingX: live order book, 11 min ago; 01 Exchange: live order book, 21 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, 11 min ago	0.16 bp	5.8 bp −$6	8.3 bp −$83	11.9 bp −$1,194	15.4 bp −$7,695
Sell 01 Exchange live order book, 21 min ago	0.11 bp	5.6 bp −$6	9.9 bp −$99	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	−0.1712%	1h	94.261	−0.189%	$202K	$255K	7x	as long as short
Bluefin HYPE-PERP	−0.0396%	1h	94.453	+0.015%	$80K	$152K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0214%	1h	94.300	−0.147%	$710K	$1.2M	10x	as long as short
Bullet HYPE-USD	−0.0208%	1h	94.443	+0.004%	$111K	$576K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0148%	1h	94.242	−0.209%	$22K	$20K	10x	as long as short
01 Exchange HYPEUSDshort	−0.0112%	1h	94.488	+0.052%	$88K	$367K	20x
Hotstuff HYPE-PERP	−0.0080%	1h	94.400	−0.041%	$3K	$331	25x	as long as short
Derive HYPE-PERP	−0.0061%	1h	94.393	−0.049%	$16.4M	$7.5M	10x	as long as short
Arcus HYPE-USD	−0.0045%	1h	94.422	−0.018%	$1.0M	$3.6M	10x	as long as short
Lighter HYPE	−0.0032%	1h	94.434	−0.005%	$16.4M	$64.5M	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX HYPE-USDTlong	−0.0020%	4h	94.439	long leg	—	$52.7M	—
Orderly PERP_HYPE_USDC	−0.0009%	4h	94.440	+0.001%	$147K	$686K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.387	−0.055%	$129K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.516	+0.082%	$1.9M	$5.6M	2.3x	as long as short
Phoenix HYPE	0.0000%	1h	94.117	−0.341%	$208K	$1.1M	10x	as long as short
Perpl HYPE	0.0000%	43m	94.468	+0.031%	$19K	$287K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.489	+0.053%	$124K	—	150x	as long as short
Polymarket Perps HYPE-USD	+0.0008%	1h	94.490	+0.054%	$498K	$2.8M	20x	as long as short
Bybit HYPEUSDT	+0.0017%	8h	94.425	−0.015%	$317.4M	$289.3M	75x	as long as short
Bitget HYPEUSDT	+0.0028%	4h	94.415	−0.025%	$226.8M	$100.1M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0033%	8h	94.465	+0.028%	$338K	$154K	20x	as long as short
Phemex HYPEUSDT	+0.0036%	8h	94.399	−0.042%	$12.9M	$2.9M	50x	as long as short
Vest HYPE-PERP	+0.0040%	1h	94.489	+0.053%	—	$190K	5x	as long as short
SoDEX HYPE-USD	+0.0051%	1h	94.459	+0.021%	$2.1M	$1.9M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0064%	1h	94.440	+0.001%	$4.7M	$6.2M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0066%	8h	94.449	+0.011%	$117.8M	$325.5M	50x	as long as short
Gate HYPE_USDT	+0.0092%	4h	94.436	−0.003%	$50.2M	$56.8M	75x	as long as short
edgeX HYPEUSDC	+0.0095%	4h	93.993	−0.472%	$5.0M	$30.7M	30x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.450	+0.012%	$3.2M	$10.8M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.442	+0.003%	$81K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.440	+0.001%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.443	+0.005%	$7.2M	$53.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.524	+0.090%	$2.08B	$687.9M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.437	−0.003%	$8.8M	$37.2M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.459	+0.021%	$10.2M	$15.0M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.447	+0.008%	$378.7M	$934.3M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.307	−0.140%	$218K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.442	+0.003%	$89.0M	$84.0M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.449	+0.011%	$46.9M	$18.9M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.400	−0.041%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.079	−0.382%	$29.4M	$54.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.093	−0.367%	$7.6M	$45.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.028	−0.435%	$369K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.315	−0.131%	$682K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.526	+0.092%	$33K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.550	+0.118%	$1.4M	$6.8M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.403	−0.038%	$18.3M	$43.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.468	+0.031%	$399K	$154K	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0110%	1h	94.540	+0.107%	$7.5M	$4.3M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0150% / S +0.0022%	1h	94.497	+0.061%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0185%	1h	94.740	+0.319%	$31K	$340K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0223%	1h	94.476	+0.039%	$20.2M	$30.2M	50x	as long as short
RISEx HYPE/USDC	+0.0249%	1h	94.462	+0.024%	$3.2M	$6.4M	20x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.451	+0.013%	$85K	$120K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.362	−0.082%	$17.2M	$12.4M	75x	as long as short