data as of
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Price arb /

HYPE

all HYPE markets
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

After costs, if the gap returns to its 7d average, $10k−$31
spread now+0.012%7d average+0.097%fees + slippage, in and out−$22spread needed0.224%
Long on BinanceShort on Phoenix
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBinance HYPEUSDT93.4630.0100pay 0.0050% / 4h7m 34s$396.5M$832.3M75x
ShortPhoenix HYPE93.4740.0357get 0.0045% / 1h7m 34s$296K$1.1M10x

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
$1.16
Funding while held
$7.7
Slippage, 4 orders
−$5.43
Fee Binance: 5 bp × 2 orders
−$10
Fee Phoenix: 3.5 bp × 2 orders
−$7
Net
−$13.56
Spread needed to break even
0.224%
Slippage from Binance: live order book, 8 min ago; Phoenix: live order book, 2 min ago.

Cost of waiting

funding view
Funding /8h
+0.0257%
Per $10,000 a day
+$7.70
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Binance live order book, 8 min ago0.05 bp5.8 bp −$68.1 bp −$8115.2 bp −$1,51636.0 bp −$18.0K
Sell Phoenix live order book, 2 min ago1.28 bp5.8 bp −$611.2 bp −$112129.0 bp −$12.9Kdoesn't fit

HYPE price on every exchange

against the cheapest. Click to use as the short leg.
Bulk93.288cheapestVariational Omni93.331+0.046%Bybit93.370+0.088%Ondo Perps93.370+0.088%Arcus93.371+0.089%Injective93.380+0.098%OKX93.409+0.130%Gate93.423+0.145%Bitget93.427+0.149%BingX93.427+0.149%MEXC93.428+0.150%Extended93.429+0.151%ApeX Omni93.429+0.151%Katana Perps93.430+0.152%edgeX93.453+0.177%Pacifica93.454+0.178%Bluefin93.457+0.181%
Binance93.463+0.188%
01 Exchange93.467+0.192%Aftermath Perps93.472+0.197%KuCoin93.473+0.198%
Phoenix93.474+0.199%
Hotstuff93.479+0.205%dYdX93.485+0.211%Lighter93.485+0.211%Lighter RH93.493+0.220%Paradex93.494+0.221%RISEx93.496+0.223%Phemex93.521+0.250%Backpack93.538+0.268%Hyperliquid93.548+0.279%Aster93.550+0.280%GMX93.556+0.287%StandX93.563+0.295%Reya93.564+0.295%gTrade (Gains Network)93.568+0.300%Derive93.575+0.307%Orderly93.575+0.307%SoDEX93.578+0.311%Bullet93.578+0.311%Vest93.582+0.315%Aevo93.584+0.317%Kalshi93.584+0.317%Perpl93.591+0.324%BloFin93.599+0.333%Kraken Futures93.609+0.344%Popdex93.610+0.345%Polymarket Perps93.616+0.351%Deribit93.627+0.363%Nado93.630+0.367%SunX93.641+0.378%Hibachi93.663+0.402%Coinbase International93.670+0.409%HTX93.700+0.441%

HYPE on 54 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Bulk HYPE-USD−0.187%+0.0100%1h$211K$10K10xas long as short
Variational Omni HYPE−0.142%+0.0100%8h$29.8M$51.6M—as long as short
Bybit HYPEUSDT−0.100%−0.0012%8h$327.1M$284.3M75xas long as short
Ondo Perps HYPE-USD.P−0.100%+0.0100%1h$699K$973K10xas long as short
Arcus HYPE-USD−0.099%+0.0100%1h$1.2M$4.2M10xas long as short
Injective HYPE/USDC PERP−0.089%+0.1001%1h$23K$320K12xas long as short
OKX HYPE-USDT-SWAP−0.058%+0.0020%8h$115.9M$314.1M50xas long as short
Gate HYPE_USDT−0.043%+0.0100%4h$44.4M$55.7M75xas long as short
Bitget HYPEUSDT−0.039%+0.0100%4h$228.7M$100.6M75xas long as short
BingX HYPE-USDT−0.039%−0.0012%4h—$52.2M—as long as short
Show all 54 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
MEXC HYPE_USDT−0.038%+0.0100%4h$97.6M$87.2M100xas long as short
Extended HYPE-USD−0.037%+0.0104%1h$18.4M$42.0M50xas long as short
ApeX Omni HYPEUSDT−0.037%+0.0100%1h$426K$964K50xas long as short
Katana Perps HYPE-USD−0.035%+0.0099%8h$39K$1.8M10xas long as short
edgeX HYPEUSDC−0.010%+0.0112%4h$5.1M$27.8M30xas long as short
Pacifica HYPE−0.010%+0.0100%1h$11.3M$12.3M20xas long as short
Bluefin HYPE-PERP−0.007%+0.0100%1h$73K$194K20xas long as short
Binance HYPEUSDTlong0.000%+0.0100%4h$396.5M$832.3M75x
01 Exchange HYPEUSD+0.004%+0.0144%1h$89K$310K20xas long as short
Aftermath Perps HYPEUSD+0.009%+0.0222%1h$22K$35K10xas long as short
KuCoin HYPEUSDTM+0.011%+0.0100%4h$43.9M$20.2M75xas long as short
Phoenix HYPEshort+0.012%+0.0357%1h$296K$1.1M10x
Hotstuff HYPE-PERP+0.017%−0.0080%1h$3K$30725xas long as short
dYdX HYPE-USD+0.023%+0.0087%1h$127K$26K5xas long as short
Lighter HYPE+0.023%+0.0208%1h$18.7M$58.6M20xas long as short
Lighter RH HYPE+0.032%+0.0096%1h$3.2M$12.0M20xas long as short
Paradex HYPE-USD-PERP+0.033%+0.0135%8h$337K$288K20xas long as short
RISEx HYPE/USDC+0.035%+0.0500%1h$2.6M$7.3M20xas long as short
Phemex HYPEUSDT+0.062%+0.0100%8h$12.7M$2.3M50xas long as short
Backpack HYPE_USDC_PERP+0.080%+0.0100%1h$8.3M$9.0M20xas long as short
Hyperliquid HYPE+0.091%+0.0199%1h$2.02B$605.0M10xas long as short
Aster HYPEUSDT+0.093%+0.0100%4h$8.9M$35.7M300xas long as short
GMX HYPE/USD [WBTC.b-USDC]+0.099%L +0.0348% / S −0.0165%1h$1.5M—100xas long as short
StandX HYPE-USD+0.107%+0.0100%1h$708K$2.1M20xas long as short
Reya HYPERUSDPERP+0.108%+0.0225%1h$73K$166K15xas long as short
gTrade (Gains Network) HYPE/USD+0.112%L +0.0002% / S −0.0001%1h$19K—150xas long as short
Derive HYPE-PERP+0.119%+0.0100%1h$16.5M$7.2M10xas long as short
Orderly PERP_HYPE_USDC+0.120%−0.0094%4h$170K$373K20xas long as short
SoDEX HYPE-USD+0.123%+0.0100%1h$2.0M$1.9M10xas long as short
Bullet HYPE-USD+0.123%+0.0100%1h$112K$578K20xas long as short
Vest HYPE-PERP+0.127%+0.0100%1h—$407K5xas long as short
Aevo HYPE-PERP+0.129%+0.0104%1h$398K$340K20xas long as short
Kalshi KXHYPEPERP+0.129%+0.0125%8h$1.6M$4.5M2.3xas long as short
Perpl HYPE+0.136%+0.0223%43m$32K$340K10xas long as short
BloFin HYPE-USDT+0.145%+0.0340%4h$17.9M$12.4M75xas long as short
Kraken Futures PF_HYPEUSD+0.156%+0.0609%1h$16.5M$21.3M50xas long as short
Popdex HYPEUSDT+0.157%+0.0096%1h$156K$1.1M50xas long as short
Polymarket Perps HYPE-USD+0.164%+0.0100%1h$462K$2.4M20xas long as short
Deribit HYPE_USDC-PERPETUAL+0.175%+0.0295%1h$7.4M$4.6M50xas long as short
Nado HYPE-PERP+0.179%+0.0100%1h$5.7M$42.6M10xas long as short
SunX HYPE-USDT+0.190%+0.0100%4h$32K$1.6M20xas long as short
Hibachi HYPE/USDT-P+0.214%+0.0168%1h$207K$196K7xas long as short
Coinbase International HYPE-PERP-INTX+0.221%+0.0096%1h$5.0M$5.3M50xas long as short
HTX HYPE-USDT+0.253%+0.0457%4h$1.5M$6.8M75xas long as short