Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.017%

Price spread now: BingX against Extended+0.029%7-day average +0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs−$27as in the Funding arb table

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

costs, in and out, $10k−$170.166% of the position

Long on Extended Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.103%−$10 on $10k

Price spread, last 7 days−0.044%−$4 · spread now +0.029%, 7d avg +0.019%

Together, before fees−0.147%+ Points / potential airdropExtended: Active · farm board−$15 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	93.473	0.0104	pay 0.0013% / 1h	25m 47s	$18.3M	$42.8M	50x
Short	BingX HYPE-USDT	93.500	0.0100	get 0.0050% / 4h	25m 47s	—	$54.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.029%Rate

Funding earned: −$0.84
Price spread: +0.029% → +0.019%: $0.93
Slippage, 4 orders: −$1.57
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BingX: 5 bp × 2 orders: −$10
Net: −$16.48
Costs to cover: 0.166%
Break-even: never at this rate

Slippage from Extended: live order book, 3 min ago; BingX: live order book, 13 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	6.3 bp −$63	25.6 bp −$2,563	doesn't fit
Sell BingX live order book, 13 min ago	0.11 bp	5.1 bp −$5	6.7 bp −$67	10.3 bp −$1,032	16.1 bp −$8,030

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	−0.0904%	1h	93.545	+0.077%	$198K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0376%	1h	93.683	+0.224%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	93.480	+0.007%	$1.2M	$3.8M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.592	+0.127%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0070%	1h	93.550	+0.082%	$703K	$910K	10x	as long as short
01 Exchange HYPEUSD	−0.0048%	1h	93.525	+0.055%	$86K	$366K	20x	as long as short
Derive HYPE-PERP	−0.0017%	1h	93.462	−0.012%	$16.3M	$7.1M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.492	+0.020%	$127K	$30K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.577	+0.111%	$23K	$329K	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0002%	4h	93.540	+0.072%	$166K	$583K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.554	+0.087%	$26K	—	150x	as long as short
Phoenix HYPE	+0.0009%	1h	93.687	+0.229%	$214K	$1.2M	10x	as long as short
Aster HYPEUSDT	+0.0011%	4h	93.506	+0.035%	$8.9M	$36.0M	300x	as long as short
Bybit HYPEUSDT	+0.0018%	8h	93.437	−0.039%	$321.1M	$283.3M	75x	as long as short
Binance HYPEUSDT	+0.0052%	4h	93.439	−0.037%	$381.8M	$896.0M	75x	as long as short
MEXC HYPE_USDT	+0.0056%	4h	93.482	+0.009%	$87.5M	$81.8M	100x	as long as short
edgeX HYPEUSDC	+0.0064%	4h	93.635	+0.174%	$5.1M	$29.7M	30x	as long as short
Phemex HYPEUSDT	+0.0070%	8h	93.537	+0.068%	$12.7M	$2.6M	50x	as long as short
Gate HYPE_USDT	+0.0084%	4h	93.489	+0.017%	$43.9M	$59.5M	75x	as long as short
Bullet HYPE-USD	+0.0090%	1h	93.531	+0.061%	$113K	$577K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.501	+0.030%	$18.8M	$60.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.458	−0.016%	$3.0M	$12.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.545	+0.077%	$64K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.527	+0.058%	$398K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.597	+0.133%	$340K	$171K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.540	+0.072%	$43K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.605	+0.141%	$5.7M	$44.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.485	+0.013%	$10.1M	$14.5M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.428	−0.048%	$115.1M	$319.8M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.625	+0.162%	$204K	$7K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.492	+0.020%	$46.3M	$18.6M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.447	−0.028%	$226.4M	$102.6M	75x	as long as short
BingX HYPE-USDTshort	+0.0100%	4h	93.500	+0.029%	—	$54.1M	—
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.521	+0.051%	$7.8M	$10.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.574	+0.108%	$31.2M	$54.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.632	+0.170%	$7.6M	$45.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.646	+0.185%	$346K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.611	+0.147%	$677K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.603	+0.139%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.560	+0.093%	$490K	$2.4M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.510	+0.039%	$76K	$171K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.567	+0.100%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.511	+0.041%	$2.0M	$2.0M	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.410	+1.002%	$31K	$338K	12x	as long as short
Extended HYPE-USDlong	+0.0104%	1h	93.473	long leg	$18.3M	$42.8M	50x
Kalshi KXHYPEPERP	+0.0132%	8h	93.660	+0.200%	$1.9M	$5.0M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	93.550	+0.082%	$4.9M	$5.7M	50x	as long as short
Hyperliquid HYPE	+0.0199%	1h	93.502	+0.031%	$2.03B	$676.9M	10x	as long as short
HTX HYPE-USDT	+0.0211%	4h	93.712	+0.256%	$1.5M	$7.8M	75x	as long as short
BloFin HYPE-USDT	+0.0229%	4h	93.600	+0.136%	$17.1M	$12.6M	75x	as long as short
Reya HYPERUSDPERP	+0.0249%	1h	93.529	+0.060%	$77K	$142K	15x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	93.601	+0.137%	$2.8M	$6.9M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0337% / S −0.0163%	1h	93.549	+0.081%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0381%	1h	93.619	+0.156%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0580%	1h	93.608	+0.144%	$20.9M	$29.5M	50x	as long as short