Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.019%

Price spread now: BingX against Pacifica−0.033%7-day average −0.008% · you buy dearer than you sell

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

Long on Pacifica Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.011%+$1 on $10k

Price spread, last 7 days+0.036%+$4 · spread now −0.033%, 7d avg −0.008%

Together, before fees+0.047%+ Points / potential airdropPacifica: Active · farm board+$5 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: BingX is 0.025% cheaper against Pacifica than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica HYPE	94.857	0.0100	pay 0.0013% / 1h	51m 33s	$10.2M	$14.8M	20x
Short	BingX HYPE-USDT	94.826	0.0100	get 0.0050% / 4h	3h 51m	—	$53.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Pacifica. 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 PacificabpFee BingXbpOrdersPrice spread, now −0.033%Rate

Funding earned: $0
Price spread: −0.033% → −0.008%: −$2.47
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee BingX: 5 bp × 2 orders: −$10
Net: −$20.47
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Pacifica: live order book, 3 min ago; BingX: live order book, 2 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 Pacifica live order book, 3 min ago	0.05 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 2 min ago	0.16 bp	5.2 bp −$5	6.6 bp −$66	9.4 bp −$937	12.5 bp −$6,253

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	−0.1432%	1h	94.783	−0.078%	$208K	$267K	7x	as long as short
Phemex HYPEUSDT	−0.0429%	8h	94.781	−0.080%	$12.9M	$2.9M	50x	as long as short
Bluefin HYPE-PERP	−0.0323%	1h	94.789	−0.072%	$80K	$150K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0320%	1h	94.714	−0.151%	$22K	$20K	10x	as long as short
Bullet HYPE-USD	−0.0173%	1h	94.826	−0.033%	$112K	$576K	20x	as long as short
Arcus HYPE-USD	−0.0112%	1h	94.817	−0.042%	$1.0M	$3.5M	10x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	94.849	−0.008%	$88K	$364K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.836	−0.022%	$3K	$331	25x	as long as short
Kraken Futures PF_HYPEUSD	−0.0047%	1h	94.847	−0.011%	$20.3M	$30.3M	50x	as long as short
Ondo Perps HYPE-USD.P	−0.0044%	1h	94.730	−0.134%	$715K	$1.2M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_HYPE_USDC	−0.0007%	4h	94.791	−0.070%	$147K	$685K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.808	−0.052%	$130K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.899	+0.044%	$1.9M	$5.5M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.850	−0.007%	$19K	$285K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.763	−0.100%	$124K	—	150x	as long as short
Phoenix HYPE	+0.0008%	1h	94.810	−0.050%	$208K	$1.2M	10x	as long as short
Bitget HYPEUSDT	+0.0012%	4h	94.817	−0.042%	$227.4M	$99.4M	75x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0016%	1h	94.880	+0.024%	$4.7M	$6.2M	50x	as long as short
Derive HYPE-PERP	+0.0022%	1h	94.691	−0.175%	$16.4M	$7.4M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0051%	8h	94.842	−0.016%	$339K	$154K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0064%	8h	94.831	−0.027%	$118.2M	$327.7M	50x	as long as short
Vest HYPE-PERP	+0.0065%	1h	94.901	+0.046%	—	$190K	5x	as long as short
Lighter HYPE	+0.0088%	1h	94.826	−0.032%	$16.3M	$61.8M	20x	as long as short
edgeX HYPEUSDC	+0.0095%	4h	94.791	−0.070%	$5.0M	$30.7M	30x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.825	−0.034%	$3.2M	$10.2M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.831	−0.027%	$144K	$1.3M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.830	−0.028%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.825	−0.034%	$7.3M	$52.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.941	+0.089%	$2.09B	$688.5M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.820	−0.039%	$9.6M	$37.4M	300x	as long as short
Pacifica HYPElong	+0.0100%	1h	94.857	long leg	$10.2M	$14.8M	20x
Binance HYPEUSDT	+0.0100%	4h	94.819	−0.040%	$380.8M	$934.0M	75x	as long as short
Bybit HYPEUSDT	+0.0100%	8h	94.830	−0.028%	$317.4M	$289.2M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.685	−0.182%	$219K	$12K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.789	−0.072%	$50.9M	$53.7M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.822	−0.037%	$93.8M	$84.9M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.828	−0.031%	$47.0M	$18.9M	75x	as long as short
BingX HYPE-USDTshort	+0.0100%	4h	94.826	−0.033%	—	$53.4M	—
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.795	−0.065%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.549	−0.324%	$29.9M	$55.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.848	−0.009%	$7.7M	$44.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.799	−0.061%	$352K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.859	+0.002%	$694K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.921	+0.067%	$501K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.905	+0.051%	$33K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.807	−0.053%	$2.1M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.972	+0.121%	$1.4M	$6.9M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.801	−0.059%	$18.4M	$43.0M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.830	−0.029%	$401K	$153K	20x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	94.866	+0.009%	$3.1M	$6.4M	20x	as long as short
Injective HYPE/USDC PERP	+0.0153%	1h	94.950	+0.098%	$31K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.808	−0.051%	$83K	$115K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0277%	1h	94.894	+0.039%	$7.5M	$4.3M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0327% / S −0.0152%	1h	94.881	+0.025%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.800	−0.060%	$17.2M	$12.5M	75x	as long as short