Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0076%/8h= −8.4% APRpaid last 24h −0.012%

Price spread now: Bybit against Binance0.000%7-day average −0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$240.235% of the position

Long on Binance Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.052%−$5 on $10k

Price spread, last 7 days−0.003%$0 · spread now 0.000%, 7d avg −0.027%

Together, before fees−0.055%−$5 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.027% dearer against Binance than usual: you sell high and buy low (spread 0.000% now, against its 7-day average of −0.027%): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 29 hours. At the pace of the last 7 days (−0.052% in total) that is about 3.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance HYPEUSDT	93.270	0.0100	pay 0.0050% / 4h	3h 02m	$374.2M	$910.0M	75x
Short	Bybit HYPEUSDT	93.270	0.0024	get 0.0024% / 8h	3h 02m	$317.5M	$283.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Binance. 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 BinancebpFee BybitbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$16.02
Price spread: 0.000% → −0.027%: $2.72
Slippage, 4 orders: −$2.52
Fee Binance: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$36.82
Costs to cover: 0.235%
Break-even: never at this rate

Slippage from Binance: live order book, 12 min ago; Bybit: live order book, 2 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 Binance live order book, 12 min ago	0.05 bp	5.5 bp −$6	8.2 bp −$82	15.8 bp −$1,579	doesn't fit
Sell Bybit live order book, 2 min ago	0.54 bp	6.9 bp −$7	8.3 bp −$83	15.8 bp −$1,581	34.7 bp −$17.4K

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	−0.1880%	1h	93.444	+0.187%	$197K	$232K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0325%	1h	93.243	−0.029%	$22K	$21K	10x	as long as short
Arcus HYPE-USD	−0.0194%	1h	93.213	−0.061%	$1.0M	$3.9M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.324	+0.058%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0043%	4h	93.242	−0.030%	$146K	$669K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0014%	1h	93.240	−0.032%	$702K	$1.2M	10x	as long as short
Bullet HYPE-USD	−0.0010%	1h	93.233	−0.039%	$111K	$578K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.328	+0.062%	$128K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.277	+0.007%	$22K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.279	+0.010%	$62K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange HYPEUSD	+0.0016%	1h	93.249	−0.023%	$87K	$366K	20x	as long as short
Bybit HYPEUSDTshort	+0.0024%	8h	93.270	0.000%	$317.5M	$283.8M	75x
Phemex HYPEUSDT	+0.0024%	8h	93.293	+0.025%	$12.6M	$2.7M	50x	as long as short
Phoenix HYPE	+0.0026%	1h	93.446	+0.189%	$209K	$1.2M	10x	as long as short
Bitget HYPEUSDT	+0.0028%	4h	93.240	−0.032%	$225.7M	$99.0M	75x	as long as short
Gate HYPE_USDT	+0.0050%	4h	93.238	−0.034%	$45.8M	$55.2M	75x	as long as short
Popdex HYPEUSDT	+0.0056%	1h	93.232	−0.041%	$76K	$1.1M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	93.303	+0.035%	$339K	$162K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.269	−0.001%	$16.0M	$63.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.283	+0.014%	$3.1M	$11.7M	20x	as long as short
edgeX HYPEUSDC	+0.0098%	4h	93.361	+0.098%	$5.0M	$29.8M	30x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.240	−0.032%	$12K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.264	−0.006%	$6.8M	$47.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.287	+0.018%	$2.03B	$665.9M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.270	0.000%	$8.7M	$36.4M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.267	−0.003%	$10.0M	$15.3M	20x	as long as short
Binance HYPEUSDTlong	+0.0100%	4h	93.270	long leg	$374.2M	$910.0M	75x
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.251	−0.020%	$114.5M	$305.8M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.328	+0.062%	$203K	$3K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.238	−0.034%	$91.7M	$81.7M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.241	−0.031%	$46.1M	$18.6M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.230	−0.043%	—	$53.8M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.352	+0.088%	$7.3M	$11.1M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.319	+0.052%	$28.8M	$56.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.407	+0.147%	$7.5M	$47.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.261	−0.010%	$342K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.424	+0.165%	$668K	$2.9M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.318	+0.051%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.270	0.000%	$489K	$2.7M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.237	−0.035%	$79K	$167K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.233	−0.040%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.294	+0.026%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.260	−0.011%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.400	+0.139%	$1.4M	$6.3M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.235	−0.037%	$18.1M	$43.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.254	−0.017%	$394K	$164K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.340	+0.075%	$4.7M	$5.6M	50x	as long as short
Kalshi KXHYPEPERP	+0.0150%	8h	93.282	+0.013%	$1.8M	$5.5M	2.3x	as long as short
Kraken Futures PF_HYPEUSD	+0.0196%	1h	93.327	+0.062%	$20.7M	$29.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0242%	1h	93.360	+0.096%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0267%	1h	93.238	−0.035%	$80K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0154%	1h	93.266	−0.004%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.308	+0.041%	$16.8M	$11.9M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0404%	1h	93.351	+0.087%	$7.5M	$4.3M	50x	as long as short
RISEx HYPE/USDC	+0.0598%	1h	93.303	+0.036%	$3.2M	$6.3M	20x	as long as short