Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.014%

Price spread now: Bitget against Variational Omni+0.115%7-day average +0.015% · you sell dearer than you buy

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

Long on Variational Omni Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.027%−$3 on $10k

Price spread, last 7 days−0.085%−$8 · spread now +0.115%, 7d avg +0.015%

Together, before fees−0.112%+ Points / potential airdropVariational Omni: Active · farm board−$11 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: Bitget is 0.099% dearer against Variational Omni than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of +0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni HYPE	93.034	0.0100	pay 0.0100% / 8h	1h 33m	$29.0M	$50.5M	—
Short	Bitget HYPEUSDT	93.141	0.0100	get 0.0050% / 4h	1h 33m	$225.7M	$103.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Variational Omni. 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 Variational OmnibpFee BitgetbpOrdersPrice spread, now +0.115%Rate

Funding earned: $0
Price spread: +0.115% → +0.015%: $9.94
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$2.06
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, just now; Bitget: live order book, 5 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 Variational Omni RFQ quote, just now	0.41 bp	doesn't fit	2.7 bp −$27	12.0 bp −$1,196	doesn't fit
Sell Bitget live order book, 5 min ago	0.05 bp	7.9 bp −$8	13.2 bp −$132	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	−0.0377%	1h	93.138	+0.112%	$22K	$22K	10x	as long as short
Hibachi HYPE/USDT-P	−0.0208%	1h	93.124	+0.096%	$197K	$230K	7x	as long as short
Arcus HYPE-USD	−0.0131%	1h	93.024	−0.011%	$1.2M	$4.0M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0111%	1h	93.070	+0.038%	$698K	$923K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.137	+0.110%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0024%	1h	93.061	+0.029%	$90K	$362K	20x	as long as short
Popdex HYPEUSDT	−0.0016%	1h	93.044	+0.010%	$57K	$1.2M	50x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.124	+0.096%	$127K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.064	+0.032%	$23K	$331K	10x	as long as short
Aster HYPEUSDT	+0.0001%	4h	93.108	+0.079%	$8.8M	$36.0M	300x	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 −0.0001%	1h	93.114	+0.086%	$20K	—	150x	as long as short
Bullet HYPE-USD	+0.0024%	1h	93.029	−0.006%	$111K	$579K	20x	as long as short
Bybit HYPEUSDT	+0.0026%	8h	93.130	+0.103%	$323.4M	$287.1M	75x	as long as short
Orderly PERP_HYPE_USDC	+0.0029%	4h	93.104	+0.075%	$172K	$519K	20x	as long as short
Derive HYPE-PERP	+0.0031%	1h	93.064	+0.032%	$16.3M	$7.1M	10x	as long as short
Phoenix HYPE	+0.0034%	1h	93.106	+0.077%	$214K	$1.2M	10x	as long as short
Gate HYPE_USDT	+0.0038%	4h	93.149	+0.123%	$43.9M	$58.1M	75x	as long as short
Binance HYPEUSDT	+0.0077%	4h	93.133	+0.106%	$382.7M	$894.1M	75x	as long as short
MEXC HYPE_USDT	+0.0082%	4h	93.141	+0.115%	$90.0M	$81.8M	100x	as long as short
Lighter HYPE	+0.0096%	1h	93.175	+0.151%	$18.5M	$58.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.154	+0.129%	$3.1M	$12.1M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0098%	8h	93.107	+0.078%	$338K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.050	+0.017%	$40K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.043	+0.009%	$5.9M	$44.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.170	+0.146%	$2.02B	$670.6M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.117	+0.089%	$10.0M	$14.3M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.124	+0.096%	$113.8M	$313.9M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.390	+0.382%	$204K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.120	+0.092%	$47.2M	$18.9M	75x	as long as short
Bitget HYPEUSDTshort	+0.0100%	4h	93.141	+0.115%	$225.7M	$103.0M	75x
BingX HYPE-USDT	+0.0100%	4h	93.136	+0.109%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.122	+0.094%	$7.8M	$11.2M	20x	as long as short
Variational Omni HYPElong	+0.0100%	8h	93.034	long leg	$29.0M	$50.5M	—
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.137	+0.110%	$7.5M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.246	+0.228%	$412K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.066	+0.034%	$673K	$2.5M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.064	+0.032%	$492K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.101	+0.072%	$76K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.071	+0.039%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.105	+0.076%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.100	+0.071%	$12.7M	$2.6M	50x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.094	+0.064%	—	$454K	5x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.120	+0.092%	$18.2M	$42.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.111	+0.082%	$396K	$318K	20x	as long as short
Kalshi KXHYPEPERP	+0.0105%	8h	93.188	+0.165%	$1.9M	$5.3M	2.3x	as long as short
edgeX HYPEUSDC	+0.0110%	4h	93.120	+0.092%	$5.1M	$29.6M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.180	+0.157%	$4.9M	$5.7M	50x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	92.970	−0.069%	$30K	$338K	12x	as long as short
Reya HYPERUSDPERP	+0.0247%	1h	93.014	−0.022%	$77K	$158K	15x	as long as short
HTX HYPE-USDT	+0.0251%	4h	93.243	+0.224%	$1.5M	$7.7M	75x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.103	+0.074%	$2.8M	$6.8M	20x	as long as short
BloFin HYPE-USDT	+0.0323%	4h	93.167	+0.143%	$16.9M	$12.5M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0158%	1h	93.101	+0.071%	$1.5M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0373%	1h	93.209	+0.188%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0466%	1h	93.218	+0.198%	$20.8M	$28.9M	50x	as long as short