Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0098%/8h= +10.7% APRpaid last 24h +0.018%

Price spread now: Binance against 01 Exchange−0.084%7-day average −0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$240.236% of the position

Long on 01 Exchange Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.025%+$2 on $10k

Price spread, last 4 days (all we have)+0.009%+$1 · spread now −0.084%, 7d avg −0.022%

Together, before fees+0.034%+$3 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.062% cheaper against 01 Exchange than usual: you would sell low and buy high (spread −0.084% now, against its 7-day average of −0.022%). If the spread goes back, that is −$6 on $10k: about 2.1 days of funding at the current rate (+$3 a day). At the pace of the last 3 days (+0.025% in total) that is about 8.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange HYPEUSD	93.288	−0.0032	get 0.0004% / 1h	17m 52s	$90K	$361K	20x
Short	Binance HYPEUSDT	93.210	0.0066	get 0.0033% / 4h	1h 17m	$381.6M	$895.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against 01 Exchange. 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 01 ExchangebpFee BinancebpOrdersPrice spread, now −0.084%Rate

Funding earned: $20.49
Price spread: −0.084% → −0.022%: −$6.2
Slippage, 4 orders: −$6.6
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$9.31
Costs to cover: 0.236%
Break-even: 10.2 days

Slippage from 01 Exchange: live order book, 1 min ago; Binance: live order book, 11 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 01 Exchange live order book, 1 min ago	0.11 bp	6.3 bp −$6	10.2 bp −$102	doesn't fit	doesn't fit
Sell Binance live order book, 11 min ago	0.05 bp	5.5 bp −$6	8.4 bp −$84	16.8 bp −$1,679	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	−0.0438%	1h	93.164	−0.133%	$22K	$22K	10x	as long as short
Hibachi HYPE/USDT-P	−0.0336%	1h	93.229	−0.063%	$197K	$230K	7x	as long as short
Arcus HYPE-USD	−0.0131%	1h	93.190	−0.105%	$1.2M	$4.0M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0125%	1h	93.170	−0.126%	$699K	$929K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.245	−0.046%	$3K	$331	25x	as long as short
01 Exchange HYPEUSDlong	−0.0032%	1h	93.288	long leg	$90K	$361K	20x
Popdex HYPEUSDT	−0.0008%	1h	93.257	−0.033%	$58K	$1.2M	50x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.276	−0.013%	$127K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.250	−0.040%	$23K	$331K	10x	as long as short
Aster HYPEUSDT	0.0000%	4h	93.211	−0.082%	$8.8M	$35.9M	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	93.289	+0.001%	$20K	—	150x	as long as short
Orderly PERP_HYPE_USDC	+0.0021%	4h	93.264	−0.026%	$172K	$518K	20x	as long as short
Bybit HYPEUSDT	+0.0021%	8h	93.186	−0.109%	$322.8M	$286.8M	75x	as long as short
Phoenix HYPE	+0.0034%	1h	93.293	+0.005%	$214K	$1.2M	10x	as long as short
Bullet HYPE-USD	+0.0040%	1h	93.247	−0.044%	$112K	$579K	20x	as long as short
Derive HYPE-PERP	+0.0047%	1h	93.208	−0.086%	$16.3M	$7.0M	10x	as long as short
Gate HYPE_USDT	+0.0056%	4h	93.195	−0.100%	$43.9M	$58.6M	75x	as long as short
Binance HYPEUSDTshort	+0.0066%	4h	93.210	−0.084%	$381.6M	$895.0M	75x
MEXC HYPE_USDT	+0.0066%	4h	93.192	−0.103%	$90.1M	$82.3M	100x	as long as short
edgeX HYPEUSDC	+0.0079%	4h	93.210	−0.084%	$5.1M	$29.7M	30x	as long as short
Lighter HYPE	+0.0096%	1h	93.305	+0.018%	$18.6M	$59.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.285	−0.003%	$3.1M	$12.2M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.263	−0.027%	$397K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.266	−0.024%	$339K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.230	−0.062%	$35K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.245	−0.046%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.277	−0.012%	$2.03B	$669.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.277	−0.012%	$10.0M	$14.4M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.206	−0.088%	$114.1M	$314.9M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.232	−0.060%	$204K	$8K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.196	−0.099%	$47.0M	$18.8M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.192	−0.103%	$225.9M	$103.1M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.200	−0.094%	—	$53.8M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.208	−0.086%	$7.8M	$10.9M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.153	−0.144%	$29.0M	$50.6M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.258	−0.032%	$7.5M	$46.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.262	−0.028%	$415K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.227	−0.065%	$674K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.279	−0.010%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.282	−0.006%	$493K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.260	−0.030%	$76K	$167K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.271	−0.018%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.263	−0.027%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.225	−0.068%	$12.7M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.160	−0.137%	$18.2M	$41.9M	50x	as long as short
Kalshi KXHYPEPERP	+0.0115%	8h	93.316	+0.030%	$1.9M	$5.3M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.300	+0.013%	$4.9M	$5.7M	50x	as long as short
HTX HYPE-USDT	+0.0238%	4h	93.400	+0.120%	$1.5M	$7.7M	75x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	93.120	−0.180%	$30K	$338K	12x	as long as short
Reya HYPERUSDPERP	+0.0247%	1h	93.250	−0.041%	$77K	$159K	15x	as long as short
BloFin HYPE-USDT	+0.0268%	4h	93.242	−0.049%	$16.8M	$12.5M	75x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.290	+0.002%	$2.7M	$6.8M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0165%	1h	93.280	−0.008%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0393%	1h	93.355	+0.072%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0465%	1h	93.367	+0.084%	$20.9M	$29.0M	50x	as long as short