Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0316%/8h= +34.6% APRpaid last 24h +0.090%

Price spread now: BloFin against 01 Exchange−0.039%7-day average −0.020% · 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−$27as in the Price arb table

costs, in and out, $10k−$250.248% of the position

Long on 01 Exchange Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.295%+$29 on $10k

Price spread, last 4 days (all we have)−0.138%−$14 · spread now −0.039%, 7d avg −0.020%

Together, before fees+0.157%+$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.020%, so right now this pair is about funding alone: +$9 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange HYPEUSD	92.908	0.0024	pay 0.0003% / 1h	21m 04s	$87K	$364K	20x
Short	BloFin HYPE-USDT	92.872	0.0340	get 0.0170% / 4h	3h 21m	$16.8M	$11.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.039%Rate

Funding earned: $66.36
Price spread: −0.039% → −0.020%: −$1.83
Slippage, 4 orders: −$5.75
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: $39.78
Costs to cover: 0.248%
Break-even: 2.8 days

Slippage from 01 Exchange: live order book, 33 min ago; BloFin: live order book, 3 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, 33 min ago	0.16 bp	5.1 bp −$5	10.9 bp −$109	doesn't fit	doesn't fit
Sell BloFin live order book, 3 min ago	0.65 bp	6.7 bp −$7	8.8 bp −$88	12.6 bp −$1,259	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
Hibachi HYPE/USDT-P	−0.1712%	1h	92.605	−0.326%	$193K	$232K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0292%	1h	92.729	−0.193%	$22K	$21K	10x	as long as short
Arcus HYPE-USD	−0.0194%	1h	92.841	−0.072%	$1.1M	$3.9M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.866	−0.045%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0058%	4h	92.851	−0.061%	$145K	$681K	20x	as long as short
Bullet HYPE-USD	−0.0002%	1h	92.854	−0.058%	$112K	$577K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.850	−0.063%	$127K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.870	−0.041%	$22K	$293K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.894	−0.015%	$62K	—	150x	as long as short
Ondo Perps HYPE-USD.P	+0.0018%	1h	92.830	−0.084%	$697K	$1.1M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange HYPEUSDlong	+0.0024%	1h	92.908	long leg	$87K	$364K	20x
Phoenix HYPE	+0.0026%	1h	92.921	+0.014%	$208K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0032%	8h	92.838	−0.075%	$315.8M	$283.2M	75x	as long as short
Popdex HYPEUSDT	+0.0040%	1h	92.890	−0.019%	$81K	$1.1M	50x	as long as short
Bitget HYPEUSDT	+0.0044%	4h	92.836	−0.077%	$224.7M	$99.0M	75x	as long as short
Phemex HYPEUSDT	+0.0049%	8h	92.862	−0.050%	$12.5M	$2.7M	50x	as long as short
Gate HYPE_USDT	+0.0092%	4h	92.835	−0.079%	$45.1M	$54.5M	75x	as long as short
Lighter HYPE	+0.0096%	1h	92.874	−0.037%	$16.0M	$62.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.876	−0.034%	$3.1M	$11.6M	20x	as long as short
edgeX HYPEUSDC	+0.0098%	4h	92.694	−0.231%	$4.9M	$29.6M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	92.874	−0.037%	$339K	$163K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.870	−0.041%	$34K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.805	−0.111%	$7.4M	$46.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.875	−0.036%	$2.02B	$666.7M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	92.847	−0.066%	$8.7M	$36.2M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	92.854	−0.058%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.881	−0.029%	$373.5M	$906.5M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	92.832	−0.082%	$114.1M	$303.9M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.709	−0.214%	$202K	$13K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.864	−0.047%	$91.3M	$81.2M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.881	−0.029%	$46.1M	$18.4M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	92.847	−0.066%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.879	−0.031%	$7.2M	$11.2M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.768	−0.151%	$28.5M	$57.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.808	−0.108%	$7.5M	$46.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.725	−0.197%	$340K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.765	−0.154%	$667K	$2.9M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.877	−0.034%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.908	0.000%	$487K	$2.7M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.892	−0.017%	$79K	$166K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.858	−0.054%	$16.0M	$7.6M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.903	−0.005%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.874	−0.037%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.995	+0.094%	$1.4M	$6.3M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.843	−0.070%	$18.0M	$43.6M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.861	−0.050%	$393K	$164K	20x	as long as short
Kalshi KXHYPEPERP	+0.0121%	8h	92.725	−0.197%	$1.8M	$5.4M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	92.900	−0.009%	$4.7M	$5.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0197%	1h	92.956	+0.052%	$20.7M	$29.6M	50x	as long as short
Injective HYPE/USDC PERP	+0.0242%	1h	93.150	+0.260%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0266%	1h	92.873	−0.038%	$79K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.893	−0.016%	$1.4M	—	100x	as long as short
BloFin HYPE-USDTshort	+0.0340%	4h	92.872	−0.039%	$16.8M	$11.6M	75x
Deribit HYPE_USDC-PERPETUAL	+0.0450%	1h	92.967	+0.064%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0598%	1h	92.924	+0.017%	$3.2M	$6.4M	20x	as long as short