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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 03:00 UTC+0.0678%/8h= +74.3% APRpaid last 24h +0.023%
Price spread now: Kraken Futures against BingX+0.253%7-day average +0.051% · you sell dearer than you buy
Net, funding: paid 7d − costs−$14as in the Funding arb table
Net, price: spread back to 7d avg − costs−$9as in the Price arb table
costs, in and out, $10k−$300.297% of the position
Long on BingXShort on Kraken Futures
What this pair did over the last
the charts below follow
Funding, last 7 days+0.161%+$16 on $10k
Price spread, last 3 days (all we have)−0.217%−$22 · spread now +0.253%, 7d avg +0.051%
Together, before fees−0.056%−$6 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$20 a day on $10k at the current rate, and Kraken Futures is 0.202% dearer against BingX than usual: you sell high and buy low: +$20 more if the spread goes back to its 7-day average of +0.051%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.161% in total (about 8.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBingX HYPE-USDT93.0000.0008pay 0.0004% / 4h1h 55m—$53.2M—
ShortKraken Futures PF_HYPEUSD93.2360.0686get 0.0086% / 1h55m 38s$20.8M$29.9M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kraken Futures against BingX. 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

Funding earned
$142.44
Price spread: +0.253% → +0.051%
$20.18
Slippage, 4 orders
−$9.68
Fee BingX: 5 bp × 2 orders
−$10
Fee Kraken Futures: 5 bp × 2 orders
−$10
Net
$132.94
Costs to cover
0.297%
Break-even
0.5 days
Slippage from BingX: live order book, 13 min ago; Kraken Futures: live order book, 3 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy BingX live order book, 13 min ago0.11 bp5.1 bp −$56.4 bp −$648.5 bp −$85014.0 bp −$6,997
Sell Kraken Futures live order book, 3 min ago0.05 bp8.6 bp −$99.3 bp −$9315.2 bp −$1,52249.6 bp −$24.8K

HYPE on 54 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-P−0.1136%1h93.001+0.002%$195K$226K7xas long as short
Arcus HYPE-USD−0.0899%1h92.891−0.117%$1.2M$3.8M10xas long as short
Bluefin HYPE-PERP−0.0323%1h93.126+0.135%$79K$170K20xas long as short
ApeX Omni HYPEUSDT−0.0172%1h93.008+0.009%$336K$1.0M50xas long as short
Bullet HYPE-USD−0.0107%1h93.171+0.184%$111K$578K20xas long as short
01 Exchange HYPEUSD−0.0088%1h93.0000.000%$84K$346K20xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.041+0.044%$3K$33125xas long as short
Orderly PERP_HYPE_USDC−0.0050%4h93.139+0.149%$155K$639K20xas long as short
Phemex HYPEUSDT−0.0038%8h93.176+0.189%$12.6M$2.7M50xas long as short
Aster HYPEUSDT−0.0004%4h93.043+0.046%$8.8M$35.3M300xas long as short
Show all 54 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
dYdX HYPE-USD0.0000%1h93.063+0.068%$128K$31K5xas long as short
Perpl HYPE0.0000%43m93.224+0.240%$22K$321K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0003%1h93.174+0.187%$25K—150xas long as short
BingX HYPE-USDTlong+0.0008%4h93.000long leg—$53.2M—
Aftermath Perps HYPEUSD+0.0017%1h93.247+0.265%$22K$21K10xas long as short
Bybit HYPEUSDT+0.0017%8h92.980−0.022%$320.2M$275.7M75xas long as short
Gate HYPE_USDT+0.0030%4h93.004+0.004%$44.3M$54.2M75xas long as short
Ondo Perps HYPE-USD.P+0.0034%1h93.0000.000%$696K$906K10xas long as short
Phoenix HYPE+0.0060%1h93.056+0.060%$210K$1.2M10xas long as short
MEXC HYPE_USDT+0.0076%4h92.998−0.002%$87.6M$79.8M100xas long as short
Binance HYPEUSDT+0.0077%4h92.982−0.019%$378.1M$872.8M75xas long as short
OKX HYPE-USDT-SWAP+0.0077%8h92.981−0.020%$114.1M$299.8M50xas long as short
edgeX HYPEUSDC+0.0091%4h92.963−0.040%$5.0M$29.7M30xas long as short
Lighter HYPE+0.0096%1h93.027+0.029%$16.3M$61.3M20xas long as short
Lighter RH HYPE+0.0096%1h93.020+0.022%$3.1M$11.5M20xas long as short
Popdex HYPEUSDT+0.0096%1h92.986−0.015%$67K$1.2M50xas long as short
Paradex HYPE-USD-PERP+0.0097%8h93.041+0.044%$338K$162K20xas long as short
Katana Perps HYPE-USD+0.0100%8h92.990−0.011%$38K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.180+0.193%$5.7M$43.4M10xas long as short
Hyperliquid HYPE+0.0100%1h93.098+0.105%$2.03B$659.2M10xas long as short
Pacifica HYPE+0.0100%1h93.035+0.038%$10.0M$14.6M20xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.022+0.024%$45.9M$18.0M75xas long as short
Bitget HYPEUSDT+0.0100%4h92.985−0.016%$225.0M$96.8M75xas long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.096+0.103%$7.3M$10.4M20xas long as short
Variational Omni HYPE+0.0100%8h93.170+0.182%$31.0M$54.3M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h92.978−0.024%$7.5M$46.3M10xas long as short
StandX HYPE-USD+0.0100%1h93.114+0.123%$664K$2.6M20xas long as short
Vest HYPE-PERP+0.0100%1h93.229+0.246%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.248+0.267%$474K$2.4M20xas long as short
Derive HYPE-PERP+0.0100%1h93.135+0.146%$16.2M$7.6M10xas long as short
SunX HYPE-USDT+0.0100%4h93.272+0.292%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.158+0.170%$2.0M$1.9M10xas long as short
Bulk HYPE-USD+0.0100%1h92.998−0.003%$202K$10K10xas long as short
Extended HYPE-USD+0.0104%1h92.975−0.027%$18.3M$43.5M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.145+0.156%$396K$170K20xas long as short
Coinbase International HYPE-PERP-INTX+0.0176%1h93.220+0.237%$4.9M$5.4M50xas long as short
HTX HYPE-USDT+0.0214%4h93.350+0.376%$1.4M$5.9M75xas long as short
Reya HYPERUSDPERP+0.0256%1h93.204+0.219%$79K$140K15xas long as short
Kalshi KXHYPEPERP+0.0273%8h93.333+0.358%$1.9M$4.8M2.3xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0331% / S −0.0156%1h93.214+0.230%$1.4M—100xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0437%1h93.255+0.274%$7.4M$4.4M50xas long as short
RISEx HYPE/USDC+0.0510%1h93.090+0.096%$3.2M$6.7M20xas long as short
Injective HYPE/USDC PERP+0.0519%1h92.900−0.108%$30K$338K12xas long as short
Kraken Futures PF_HYPEUSDshort+0.0686%1h93.236+0.253%$20.8M$29.9M50x