Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.011%

Price spread now: Binance against Extended+0.038%7-day average +0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$160.160% of the position

Long on Extended Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.034%−$3 on $10k

Price spread, last 7 days−0.038%−$4 · spread now +0.038%, 7d avg +0.037%

Together, before fees−0.071%+ Points / potential airdropExtended: Active · farm board−$7 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended HYPE-USD	93.764	0.0104	pay 0.0013% / 1h	56m 18s	$18.3M	$43.3M	50x
Short	Binance HYPEUSDT	93.800	0.0100	get 0.0050% / 4h	1h 56m	$377.1M	$928.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Extended. 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 ExtendedbpFee BinancebpOrdersPrice spread, now +0.038%Rate

Funding earned: −$0.84
Price spread: +0.038% → +0.037%: $0.04
Slippage, 4 orders: −$1.03
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Binance: 5 bp × 2 orders: −$10
Net: −$16.84
Costs to cover: 0.160%
Break-even: never at this rate

Slippage from Extended: live order book, 3 min ago; Binance: live order book, 3 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 Extended live order book, 3 min ago	0.05 bp	2.6 bp −$3	6.4 bp −$64	28.2 bp −$2,823	doesn't fit
Sell Binance live order book, 3 min ago	0.05 bp	5.1 bp −$5	7.3 bp −$73	14.8 bp −$1,481	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	−0.1224%	1h	93.798	+0.036%	$199K	$243K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0272%	1h	94.032	+0.285%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.992	+0.243%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0056%	1h	93.798	+0.036%	$86K	$372K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0017%	4h	93.765	+0.001%	$149K	$680K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0010%	1h	93.770	+0.006%	$707K	$1.2M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.813	+0.052%	$129K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.831	+0.071%	$22K	$285K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.823	+0.062%	$63K	—	150x	as long as short
Bluefin HYPE-PERP	+0.0003%	1h	93.785	+0.022%	$79K	$166K	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-USDT	+0.0012%	4h	93.793	+0.031%	—	$53.8M	—	as long as short
Bybit HYPEUSDT	+0.0018%	8h	93.790	+0.027%	$317.0M	$287.3M	75x	as long as short
Phoenix HYPE	+0.0026%	1h	93.872	+0.115%	$209K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0040%	4h	93.783	+0.020%	$226.0M	$99.4M	75x	as long as short
Phemex HYPEUSDT	+0.0060%	8h	93.818	+0.057%	$12.8M	$2.8M	50x	as long as short
edgeX HYPEUSDC	+0.0080%	4h	93.922	+0.168%	$5.0M	$30.4M	30x	as long as short
Arcus HYPE-USD	+0.0084%	1h	93.799	+0.037%	$1.0M	$4.0M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0091%	8h	93.845	+0.086%	$341K	$158K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.784	+0.021%	$16.2M	$63.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.806	+0.044%	$3.1M	$11.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.791	+0.028%	$78K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.770	+0.006%	$20K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.794	+0.032%	$6.3M	$50.3M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.887	+0.131%	$2.05B	$683.0M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.791	+0.028%	$8.9M	$37.3M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.832	+0.072%	$10.1M	$15.4M	20x	as long as short
Binance HYPEUSDTshort	+0.0100%	4h	93.800	+0.038%	$377.1M	$928.7M	75x
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.778	+0.015%	$115.8M	$316.6M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.213	+0.479%	$217K	$15K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	93.787	+0.024%	$48.3M	$54.7M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.797	+0.035%	$87.9M	$82.9M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.802	+0.040%	$46.3M	$18.9M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.821	+0.060%	$7.2M	$10.8M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.028	+0.281%	$28.8M	$56.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.099	+0.357%	$7.7M	$48.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.152	+0.413%	$344K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.875	+0.118%	$680K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.871	+0.114%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.818	+0.057%	$476K	$2.8M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	93.804	+0.042%	$112K	$581K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.774	+0.011%	$16.4M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.893	+0.137%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.779	+0.016%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.965	+0.214%	$1.4M	$6.6M	75x	as long as short
Extended HYPE-USDlong	+0.0104%	1h	93.764	long leg	$18.3M	$43.3M	50x
Aevo HYPE-PERP	+0.0104%	1h	93.797	+0.035%	$396K	$159K	20x	as long as short
Kalshi KXHYPEPERP	+0.0111%	8h	93.909	+0.154%	$1.8M	$5.6M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	93.870	+0.113%	$4.7M	$6.1M	50x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	93.760	−0.005%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0270%	1h	93.794	+0.031%	$77K	$130K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0315%	1h	93.888	+0.132%	$7.4M	$4.2M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0333% / S −0.0154%	1h	93.819	+0.058%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.808	+0.047%	$17.1M	$12.2M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0414%	1h	93.865	+0.107%	$20.9M	$29.6M	50x	as long as short
RISEx HYPE/USDC	+0.0559%	1h	93.840	+0.080%	$3.2M	$6.4M	20x	as long as short