Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.007%

Price spread now: Variational Omni against Binance−0.013%7-day average −0.035% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Binance Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.002%$0 on $10k

Price spread, last 7 days−0.009%−$1 · spread now −0.013%, 7d avg −0.035%

Together, before fees−0.007%+ Points / potential airdropVariational Omni: 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: Variational Omni is 0.022% dearer against Binance than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance HYPEUSDT	93.664	0.0100	pay 0.0050% / 4h	2h 21m	$386.4M	$888.8M	75x
Short	Variational Omni HYPE	93.652	0.0100	get 0.0100% / 8h	2h 21m	$29.0M	$50.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.013%Rate

Funding earned: $0
Price spread: −0.013% → −0.035%: $2.2
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$7.8
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 7 min ago; Variational Omni: RFQ quote, 3 min ago. Net counts fees only.

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, 7 min ago	0.05 bp	5.1 bp −$5	6.6 bp −$66	14.4 bp −$1,444	32.2 bp −$16.1K
Sell Variational Omni RFQ quote, 3 min ago	0.44 bp	doesn't fit	5.2 bp −$52	22.2 bp −$2,222	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	−0.1008%	1h	93.647	−0.019%	$198K	$233K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0291%	1h	93.660	−0.004%	$22K	$22K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0238%	1h	93.580	−0.090%	$703K	$934K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.679	+0.016%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0064%	1h	93.689	+0.027%	$90K	$343K	20x	as long as short
Bullet HYPE-USD	−0.0020%	1h	93.621	−0.046%	$112K	$583K	20x	as long as short
Derive HYPE-PERP	−0.0009%	1h	93.599	−0.069%	$16.4M	$7.0M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.721	+0.061%	$128K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.661	−0.003%	$23K	$337K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.684	+0.021%	$20K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0027%	4h	93.678	+0.015%	$9.0M	$35.8M	300x	as long as short
Gate HYPE_USDT	+0.0030%	4h	93.677	+0.014%	$44.1M	$57.1M	75x	as long as short
Bybit HYPEUSDT	+0.0036%	8h	93.670	+0.006%	$326.2M	$287.1M	75x	as long as short
Orderly PERP_HYPE_USDC	+0.0063%	4h	93.644	−0.021%	$175K	$536K	20x	as long as short
Popdex HYPEUSDT	+0.0064%	1h	93.665	+0.001%	$57K	$1.2M	50x	as long as short
Phoenix HYPE	+0.0068%	1h	93.733	+0.074%	$216K	$1.2M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.712	+0.051%	$18.6M	$59.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.701	+0.040%	$3.1M	$12.4M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0100%	8h	93.682	+0.020%	$340K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.710	+0.049%	$40K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.665	+0.001%	$6.0M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.759	+0.101%	$2.04B	$670.1M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.690	+0.028%	$10.0M	$14.4M	20x	as long as short
Binance HYPEUSDTlong	+0.0100%	4h	93.664	long leg	$386.4M	$888.8M	75x
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.642	−0.023%	$115.0M	$316.0M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.647	−0.018%	$1.2M	$4.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.690	+0.027%	$205K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.695	+0.033%	$93.8M	$82.3M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.699	+0.037%	$46.5M	$18.7M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.683	+0.020%	$227.5M	$102.4M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.672	+0.009%	—	$54.2M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.688	+0.026%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPEshort	+0.0100%	8h	93.652	−0.013%	$29.0M	$50.0M	—
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.753	+0.095%	$7.5M	$45.3M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.664	0.000%	$407K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.704	+0.043%	$677K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.715	+0.054%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.712	+0.051%	$495K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.644	−0.021%	$76K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.704	+0.043%	$33K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.650	−0.015%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.631	−0.035%	$12.8M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.654	−0.010%	$18.3M	$41.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.656	−0.009%	$398K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0106%	4h	93.684	+0.021%	$5.1M	$29.7M	30x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0124%	1h	93.741	+0.082%	$7.4M	$4.6M	50x	as long as short
Kalshi KXHYPEPERP	+0.0132%	8h	93.740	+0.081%	$1.9M	$5.3M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.700	+0.038%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0245%	1h	93.619	−0.048%	$78K	$158K	15x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.610	−0.058%	$30K	$291K	12x	as long as short
HTX HYPE-USDT	+0.0308%	4h	93.825	+0.172%	$1.5M	$7.6M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0164%	1h	93.686	+0.023%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.715	+0.054%	$17.1M	$12.5M	75x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.731	+0.072%	$2.8M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0572%	1h	93.757	+0.099%	$19.2M	$26.0M	50x	as long as short