Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0031%/8h= +3.4% APRpaid last 24h −0.015%

Price spread now: OKX against Binance+0.022%7-day average −0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$220.217% of the position

Long on Binance Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.044%−$4 on $10k

Price spread, last 7 days−0.024%−$2 · spread now +0.022%, 7d avg −0.021%

Together, before fees−0.068%−$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and OKX is 0.044% dearer against Binance than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance HYPEUSDT	93.981	0.0048	pay 0.0024% / 4h	3h 29m	$383.3M	$893.5M	75x
Short	OKX HYPE-USDT-SWAP	94.002	0.0079	get 0.0079% / 8h	7h 29m	$115.9M	$318.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.022%Rate

Funding earned: $6.58
Price spread: +0.022% → −0.021%: $4.38
Slippage, 4 orders: −$1.71
Fee Binance: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$10.75
Costs to cover: 0.217%
Break-even: 18.4 days

Slippage from Binance: live order book, 14 min ago; OKX: live order book, 4 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, 14 min ago	0.05 bp	5.1 bp −$5	7.2 bp −$72	13.0 bp −$1,297	26.7 bp −$13.4K
Sell OKX live order book, 4 min ago	0.05 bp	5.5 bp −$5	8.6 bp −$86	16.4 bp −$1,641	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	−0.1432%	1h	94.067	+0.091%	$199K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0625%	1h	93.902	−0.084%	$1.2M	$3.8M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0234%	1h	94.151	+0.181%	$22K	$23K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0158%	1h	93.950	−0.033%	$706K	$956K	10x	as long as short
dYdX HYPE-USD	−0.0148%	1h	94.048	+0.071%	$129K	$31K	5x	as long as short
Phemex HYPEUSDT	−0.0104%	8h	94.018	+0.039%	$12.8M	$2.6M	50x	as long as short
Bullet HYPE-USD	−0.0098%	1h	93.961	−0.021%	$112K	$580K	20x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	94.032	+0.054%	$85K	$359K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.981	0.000%	$3K	$331	25x	as long as short
Bybit HYPEUSDT	−0.0025%	8h	93.970	−0.012%	$322.7M	$280.8M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_HYPE_USDC	−0.0017%	4h	93.950	−0.033%	$159K	$645K	20x	as long as short
Gate HYPE_USDT	−0.0012%	4h	94.003	+0.023%	$44.5M	$59.7M	75x	as long as short
Perpl HYPE	0.0000%	43m	94.035	+0.057%	$23K	$327K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	94.001	+0.021%	$27K	—	150x	as long as short
Aster HYPEUSDT	+0.0015%	4h	94.015	+0.036%	$8.9M	$36.1M	300x	as long as short
Phoenix HYPE	+0.0034%	1h	94.342	+0.384%	$219K	$1.2M	10x	as long as short
Binance HYPEUSDTlong	+0.0048%	4h	93.981	long leg	$383.3M	$893.5M	75x
MEXC HYPE_USDT	+0.0048%	4h	93.978	−0.003%	$89.1M	$82.6M	100x	as long as short
Derive HYPE-PERP	+0.0056%	1h	93.935	−0.049%	$16.4M	$7.3M	10x	as long as short
edgeX HYPEUSDC	+0.0068%	4h	94.068	+0.092%	$5.1M	$30.0M	30x	as long as short
OKX HYPE-USDT-SWAPshort	+0.0079%	8h	94.002	+0.022%	$115.9M	$318.2M	50x
Lighter HYPE	+0.0096%	1h	94.012	+0.033%	$19.2M	$59.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.998	+0.018%	$3.0M	$12.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.024	+0.046%	$66K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.963	−0.019%	$400K	$188K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	94.016	+0.037%	$341K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.060	+0.084%	$26K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.951	−0.031%	$6.6M	$44.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.082	+0.107%	$2.05B	$677.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.993	+0.013%	$10.2M	$14.6M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.999	+0.019%	$46.6M	$18.1M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	94.007	+0.028%	$228.0M	$100.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.010	+0.031%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.012	+0.033%	$7.7M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.030	+0.053%	$31.5M	$54.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.088	+0.114%	$7.6M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.209	+0.243%	$341K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.018	+0.039%	$680K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.026	+0.048%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.984	+0.003%	$480K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.963	−0.019%	$76K	$171K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.052	+0.076%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.975	−0.006%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.120	+0.148%	$205K	$4K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.003	+0.024%	$18.8M	$44.5M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	94.030	+0.052%	$4.9M	$5.5M	50x	as long as short
BloFin HYPE-USDT	+0.0193%	4h	94.099	+0.126%	$17.0M	$12.2M	75x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	88.460	−5.875%	$29K	$338K	12x	as long as short
Kalshi KXHYPEPERP	+0.0222%	8h	94.102	+0.129%	$1.9M	$5.1M	2.3x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	94.070	+0.094%	$2.8M	$6.7M	20x	as long as short
Reya HYPERUSDPERP	+0.0251%	1h	93.952	−0.031%	$79K	$146K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0333% / S −0.0152%	1h	93.999	+0.019%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0409%	1h	94.076	+0.101%	$7.5M	$4.7M	50x	as long as short
HTX HYPE-USDT	+0.0420%	4h	94.200	+0.233%	$1.5M	$6.3M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0671%	1h	94.076	+0.101%	$21.0M	$29.7M	50x	as long as short