Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0105%/8h= −11.5% APRpaid last 24h −0.019%

Price spread now: 01 Exchange against Binance−0.014%7-day average +0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$240.241% of the position

Long on Binance Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.025%−$3 on $10k

Price spread, last 4 days (all we have)+0.070%+$7 · spread now −0.014%, 7d avg +0.021%

Together, before fees+0.045%+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and 01 Exchange is 0.036% cheaper against Binance than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.021%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance HYPEUSDT	93.721	0.0049	pay 0.0025% / 4h	21m 47s	$383.0M	$896.5M	75x
Short	01 Exchange HYPEUSD	93.708	−0.0056	pay 0.0007% / 1h	21m 47s	$86K	$366K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −0.014%Rate

Funding earned: −$22.09
Price spread: −0.014% → +0.021%: −$3.58
Slippage, 4 orders: −$7.14
Fee Binance: 5 bp × 2 orders: −$10
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$49.81
Costs to cover: 0.241%
Break-even: never at this rate

Slippage from Binance: live order book, 7 min ago; 01 Exchange: live order book, 57 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, 7 min ago	0.05 bp	5.5 bp −$5	7.5 bp −$75	16.1 bp −$1,609	doesn't fit
Sell 01 Exchange live order book, 57 min ago	0.11 bp	6.4 bp −$6	9.1 bp −$91	doesn't fit	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	−0.0960%	1h	93.526	−0.208%	$198K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0387%	1h	93.637	−0.090%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	93.581	−0.150%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0082%	1h	93.450	−0.290%	$703K	$910K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.557	−0.175%	$3K	$331	25x	as long as short
01 Exchange HYPEUSDshort	−0.0056%	1h	93.708	−0.014%	$86K	$366K	20x
Orderly PERP_HYPE_USDC	−0.0001%	4h	93.709	−0.013%	$168K	$586K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.662	−0.064%	$127K	$30K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.712	−0.010%	$23K	$329K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.737	+0.016%	$26K	—	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	+0.0006%	4h	93.696	−0.027%	$8.9M	$36.0M	300x	as long as short
Phoenix HYPE	+0.0009%	1h	93.618	−0.110%	$214K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0017%	8h	93.710	−0.012%	$322.2M	$283.7M	75x	as long as short
Derive HYPE-PERP	+0.0020%	1h	93.662	−0.063%	$16.4M	$7.1M	10x	as long as short
Binance HYPEUSDTlong	+0.0049%	4h	93.721	long leg	$383.0M	$896.5M	75x
MEXC HYPE_USDT	+0.0050%	4h	93.720	−0.001%	$87.9M	$81.9M	100x	as long as short
edgeX HYPEUSDC	+0.0062%	4h	93.464	−0.275%	$5.1M	$29.7M	30x	as long as short
Phemex HYPEUSDT	+0.0068%	8h	93.724	+0.003%	$12.8M	$2.6M	50x	as long as short
Gate HYPE_USDT	+0.0076%	4h	93.702	−0.021%	$44.0M	$59.7M	75x	as long as short
Popdex HYPEUSDT	+0.0080%	1h	93.735	+0.015%	$59K	$1.2M	50x	as long as short
Bullet HYPE-USD	+0.0093%	1h	93.707	−0.016%	$113K	$576K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.759	+0.040%	$18.9M	$60.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.730	+0.009%	$3.0M	$12.3M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.730	+0.009%	$399K	$318K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0099%	8h	93.713	−0.009%	$115.5M	$321.3M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.674	−0.051%	$340K	$171K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.650	−0.076%	$16K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.665	−0.061%	$5.7M	$44.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.657	−0.068%	$10.1M	$14.5M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.625	−0.103%	$204K	$7K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.725	+0.004%	$46.4M	$18.6M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.728	+0.007%	$227.0M	$102.6M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.704	−0.019%	—	$54.1M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.753	+0.034%	$7.9M	$10.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.574	−0.157%	$31.2M	$54.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.619	−0.109%	$7.6M	$45.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.485	−0.252%	$358K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.514	−0.221%	$676K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.699	−0.024%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.732	+0.011%	$491K	$2.4M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.699	−0.024%	$76K	$171K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.690	−0.033%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.700	−0.023%	$2.0M	$2.0M	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.410	+0.735%	$31K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.695	−0.028%	$18.4M	$42.8M	50x	as long as short
Kalshi KXHYPEPERP	+0.0134%	8h	93.672	−0.053%	$1.9M	$5.0M	2.3x	as long as short
Hyperliquid HYPE	+0.0140%	1h	93.754	+0.035%	$2.04B	$677.3M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	93.740	+0.020%	$4.9M	$5.7M	50x	as long as short
BloFin HYPE-USDT	+0.0203%	4h	93.528	−0.206%	$17.1M	$12.6M	75x	as long as short
HTX HYPE-USDT	+0.0206%	4h	93.868	+0.156%	$1.5M	$7.8M	75x	as long as short
Reya HYPERUSDPERP	+0.0249%	1h	93.690	−0.033%	$77K	$142K	15x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	93.741	+0.021%	$2.8M	$6.9M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0337% / S −0.0163%	1h	93.733	+0.013%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0550%	1h	93.822	+0.107%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0578%	1h	93.813	+0.097%	$20.9M	$29.5M	50x	as long as short