Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Nado against Binance+0.018%48s7-day average −0.005% · 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—prices read too far apart to compare

costs, in and out, $10k−$200.195% of the position

Long on Binance Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.011%−$1 on $10k

Price spread, last 7 days+0.001%$0 · spread now +0.018%, 7d avg −0.005%

Together, before fees−0.010%+ Points / potential airdropNado: Active · farm board−$1 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: Nado is 0.023% dearer against Binance than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.005%. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance HYPEUSDT	94.243	0.0100	pay 0.0050% / 4h	3h 31m	$379.5M	$937.5M	75x
Short	Nado HYPE-PERP	94.260	0.0100	get 0.0012% / 1h	31m 46s	$7.2M	$51.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.018%Rate

Funding earned: $0
Price spread: +0.018% → −0.005%: $2.25
Slippage, 4 orders: −$2.54
Fee Binance: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$17.29
Costs to cover: 0.195%
Break-even: never at this rate

Slippage from Binance: live order book, 12 min ago; Nado: 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	5.8 bp −$6	8.5 bp −$85	17.1 bp −$1,713	doesn't fit
Sell Nado live order book, 2 min ago	0.05 bp	4.3 bp −$4	7.1 bp −$71	29.8 bp −$2,982	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	−0.0880%	1h	94.602	+0.381%	$207K	$268K	7x	as long as short
Bluefin HYPE-PERP	−0.0624%	1h	94.167	−0.081%	$80K	$150K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0295%	1h	94.605	+0.384%	$22K	$20K	10x	as long as short
Bullet HYPE-USD	−0.0252%	1h	94.186	−0.060%	$112K	$577K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0189%	1h	94.280	+0.039%	$701K	$1.3M	10x	as long as short
Gate HYPE_USDT	−0.0120%	4h	94.224	−0.020%	$51.4M	$55.2M	75x	as long as short
Arcus HYPE-USD	−0.0112%	1h	94.304	+0.065%	$1.0M	$3.5M	10x	as long as short
01 Exchange HYPEUSD	−0.0104%	1h	94.252	+0.010%	$89K	$365K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.241	−0.002%	$3K	$331	25x	as long as short
Kraken Futures PF_HYPEUSD	−0.0048%	1h	94.187	−0.059%	$18.8M	$35.5M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit HYPEUSDT	−0.0036%	8h	94.230	−0.014%	$317.4M	$294.5M	75x	as long as short
Orderly PERP_HYPE_USDC	−0.0010%	4h	94.174	−0.073%	$146K	$681K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.222	−0.022%	$129K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.337	+0.100%	$1.8M	$5.6M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.287	+0.047%	$19K	$285K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.228	−0.015%	$123K	—	150x	as long as short
Phoenix HYPE	+0.0008%	1h	94.654	+0.436%	$210K	$1.2M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0016%	1h	94.240	−0.003%	$4.7M	$6.3M	50x	as long as short
Bitget HYPEUSDT	+0.0030%	4h	94.257	+0.015%	$226.6M	$98.5M	75x	as long as short
Derive HYPE-PERP	+0.0034%	1h	94.592	+0.370%	$16.3M	$7.5M	10x	as long as short
Vest HYPE-PERP	+0.0038%	1h	94.333	+0.095%	—	$190K	5x	as long as short
Paradex HYPE-USD-PERP	+0.0043%	8h	94.240	−0.003%	$337K	$154K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0048%	8h	94.247	+0.004%	$117.6M	$327.2M	50x	as long as short
SoDEX HYPE-USD	+0.0060%	1h	94.205	−0.040%	$2.1M	$2.0M	10x	as long as short
Backpack HYPE_USDC_PERP	+0.0062%	1h	94.145	−0.104%	$7.5M	$10.4M	20x	as long as short
edgeX HYPEUSDC	+0.0080%	4h	94.626	+0.406%	$5.0M	$30.9M	30x	as long as short
Lighter HYPE	+0.0096%	1h	94.245	+0.002%	$16.2M	$62.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.257	+0.015%	$3.2M	$10.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.243	0.000%	$148K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.300	+0.060%	$40K	$1.7M	10x	as long as short
Nado HYPE-PERPshort	+0.0100%	1h	94.260	+0.018%	$7.2M	$51.7M	10x
Hyperliquid HYPE	+0.0100%	1h	94.298	+0.058%	$2.07B	$688.7M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.247	+0.004%	$9.5M	$37.5M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.269	+0.028%	$10.1M	$14.5M	20x	as long as short
Binance HYPEUSDTlong	+0.0100%	4h	94.243	long leg	$379.5M	$937.5M	75x
Bulk HYPE-USD	+0.0100%	1h	94.564	+0.341%	$220K	$14K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.260	+0.018%	$92.9M	$86.6M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.249	+0.006%	$47.0M	$19.1M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.249	+0.006%	—	$53.6M	—	as long as short
Variational Omni HYPE	+0.0100%	8h	94.619	+0.399%	$30.0M	$56.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.643	+0.424%	$7.6M	$44.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.587	+0.365%	$345K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.446	+0.215%	$694K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.333	+0.095%	$498K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.285	+0.045%	$32K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.350	+0.114%	$1.4M	$6.9M	75x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	94.236	−0.007%	$12.9M	$2.9M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.218	−0.027%	$18.3M	$43.4M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.331	+0.093%	$399K	$153K	20x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	94.284	+0.044%	$3.1M	$6.4M	20x	as long as short
Injective HYPE/USDC PERP	+0.0153%	1h	95.170	+0.984%	$31K	$340K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0238%	1h	94.299	+0.059%	$7.5M	$4.4M	50x	as long as short
Reya HYPERUSDPERP	+0.0271%	1h	94.184	−0.063%	$85K	$104K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0156%	1h	94.267	+0.025%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.303	+0.064%	$17.2M	$12.6M	75x	as long as short