Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0180%/8h= −19.7% APRpaid last 24h −0.042%

Price spread now: Bitget against RISEx+0.086%7-day average −0.009% · 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−$17as in the Price arb table

costs, in and out, $10k−$260.262% of the position

Long on RISEx Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.146%−$15 on $10k

Price spread, last 7 days−0.100%−$10 · spread now +0.086%, 7d avg −0.009%

Together, before fees−0.247%−$25 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.095% dearer against RISEx than usual: you sell high and buy low (spread +0.086% now, against its 7-day average of −0.009%): +$9 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 42 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx HYPE/USDC	93.288	0.0280	pay 0.0035% / 1h	6m 58s	$2.7M	$6.8M	20x
Short	Bitget HYPEUSDT	93.368	0.0100	get 0.0050% / 4h	1h 06m	$226.5M	$102.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against RISEx. 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 RISExbpFee BitgetbpOrdersPrice spread, now +0.086%Rate

Funding earned: −$37.78
Price spread: +0.086% → −0.009%: $9.48
Slippage, 4 orders: −$8.16
Fee RISEx: 3 bp × 2 orders: −$6
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$54.46
Costs to cover: 0.262%
Break-even: never at this rate

Slippage from RISEx: live order book, 2 min ago; Bitget: live order book, 7 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 RISEx live order book, 2 min ago	1.28 bp	4.3 bp −$4	5.5 bp −$55	doesn't fit	doesn't fit
Sell Bitget live order book, 7 min ago	0.05 bp	7.7 bp −$8	10.5 bp −$105	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
Aftermath Perps HYPEUSD	−0.0476%	1h	93.219	−0.074%	$22K	$22K	10x	as long as short
Hibachi HYPE/USDT-P	−0.0408%	1h	93.255	−0.035%	$197K	$229K	7x	as long as short
Arcus HYPE-USD	−0.0131%	1h	93.134	−0.165%	$1.2M	$3.9M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0130%	1h	93.160	−0.137%	$699K	$895K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.192	−0.103%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0024%	1h	93.269	−0.020%	$90K	$358K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.227	−0.065%	$127K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.246	−0.045%	$23K	$330K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.272	−0.018%	$27K	—	150x	as long as short
Aster HYPEUSDT	+0.0003%	4h	93.308	+0.022%	$8.9M	$35.7M	300x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex HYPEUSDT	+0.0008%	1h	93.241	−0.050%	$58K	$1.2M	50x	as long as short
Orderly PERP_HYPE_USDC	+0.0016%	4h	93.253	−0.037%	$176K	$524K	20x	as long as short
Bybit HYPEUSDT	+0.0020%	8h	93.320	+0.034%	$323.3M	$282.2M	75x	as long as short
Phoenix HYPE	+0.0034%	1h	93.306	+0.019%	$214K	$1.2M	10x	as long as short
Bullet HYPE-USD	+0.0047%	1h	93.248	−0.043%	$111K	$577K	20x	as long as short
Gate HYPE_USDT	+0.0058%	4h	93.299	+0.012%	$44.0M	$58.8M	75x	as long as short
MEXC HYPE_USDT	+0.0060%	4h	93.284	−0.004%	$90.1M	$82.3M	100x	as long as short
Binance HYPEUSDT	+0.0061%	4h	93.313	+0.026%	$383.1M	$887.0M	75x	as long as short
Derive HYPE-PERP	+0.0061%	1h	93.213	−0.080%	$16.3M	$7.0M	10x	as long as short
edgeX HYPEUSDC	+0.0080%	4h	93.250	−0.040%	$5.1M	$29.6M	30x	as long as short
Lighter HYPE	+0.0096%	1h	93.331	+0.046%	$18.6M	$59.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.305	+0.018%	$3.1M	$12.2M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.250	−0.040%	$397K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.192	−0.103%	$338K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.260	−0.030%	$35K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.193	−0.101%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.306	+0.019%	$2.03B	$661.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.221	−0.072%	$10.1M	$14.5M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.339	+0.055%	$114.1M	$312.6M	50x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.268	−0.021%	$47.0M	$18.5M	75x	as long as short
Bitget HYPEUSDTshort	+0.0100%	4h	93.368	+0.086%	$226.5M	$102.7M	75x
BingX HYPE-USDT	+0.0100%	4h	93.307	+0.020%	—	$53.7M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.331	+0.046%	$7.8M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.212	−0.081%	$30.8M	$51.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.317	+0.031%	$7.5M	$45.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.303	+0.016%	$415K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.252	−0.039%	$674K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.276	−0.013%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.261	−0.029%	$493K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.255	−0.035%	$76K	$167K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.270	−0.019%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.255	−0.035%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.234	−0.058%	$12.7M	$2.6M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.280	−0.008%	$204K	$8K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.217	−0.076%	$18.2M	$41.6M	50x	as long as short
Kalshi KXHYPEPERP	+0.0118%	8h	93.272	−0.017%	$1.9M	$5.2M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.280	−0.008%	$4.9M	$5.7M	50x	as long as short
HTX HYPE-USDT	+0.0220%	4h	93.369	+0.087%	$1.5M	$7.7M	75x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	93.530	+0.259%	$30K	$338K	12x	as long as short
BloFin HYPE-USDT	+0.0243%	4h	93.225	−0.067%	$16.9M	$12.4M	75x	as long as short
Reya HYPERUSDPERP	+0.0247%	1h	93.245	−0.046%	$77K	$159K	15x	as long as short
RISEx HYPE/USDClong	+0.0280%	1h	93.288	long leg	$2.7M	$6.8M	20x
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0165%	1h	93.271	−0.018%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0372%	1h	93.352	+0.069%	$7.4M	$4.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0465%	1h	93.387	+0.106%	$20.9M	$28.9M	50x	as long as short