Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.014%

Price spread now: StandX against BingX+0.032%7-day average +0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$210.210% of the position

Long on BingX Short on StandX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.087%+$9 on $10k

Price spread, last 7 days−0.038%−$4 · spread now +0.032%, 7d avg +0.008%

Together, before fees+0.049%+ Points / potential airdropStandX: Active · farm board+$5 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: StandX is 0.024% dearer against BingX than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX HYPE-USDT	93.806	0.0100	pay 0.0050% / 4h	3h 55m	—	$54.0M	—
Short	StandX HYPE-USD	93.836	0.0100	get 0.0013% / 1h	55m 01s	$678K	$2.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

StandX 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

Position, each leg$Hold fordaysFee BingXbpFee StandXbpOrdersPrice spread, now +0.032%Rate

Funding earned: $0
Price spread: +0.032% → +0.008%: $2.44
Slippage, 4 orders: −$2.98
Fee BingX: 5 bp × 2 orders: −$10
Fee StandX: 4 bp × 2 orders: −$8
Net: −$18.54
Costs to cover: 0.210%
Break-even: never at this rate

Slippage from BingX: live order book, 4 min ago; StandX: 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 BingX live order book, 4 min ago	0.16 bp	5.2 bp −$5	6.0 bp −$60	10.8 bp −$1,076	14.9 bp −$7,460
Sell StandX live order book, 4 min ago	1.33 bp	5.3 bp −$5	5.6 bp −$56	33.2 bp −$3,315	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	−0.1440%	1h	93.842	+0.039%	$199K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0625%	1h	93.706	−0.107%	$1.2M	$3.8M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0317%	1h	93.953	+0.157%	$22K	$22K	10x	as long as short
ApeX Omni HYPEUSDT	−0.0224%	1h	93.928	+0.130%	$340K	$1.1M	50x	as long as short
dYdX HYPE-USD	−0.0179%	1h	93.914	+0.115%	$128K	$30K	5x	as long as short
Gate HYPE_USDT	−0.0128%	4h	93.811	+0.005%	$44.6M	$58.8M	75x	as long as short
Ondo Perps HYPE-USD.P	−0.0125%	1h	93.770	−0.038%	$705K	$925K	10x	as long as short
Bullet HYPE-USD	−0.0120%	1h	93.765	−0.044%	$112K	$579K	20x	as long as short
01 Exchange HYPEUSD	−0.0120%	1h	93.784	−0.023%	$86K	$365K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.831	+0.027%	$3K	$331	25x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit HYPEUSDT	−0.0072%	8h	93.826	+0.021%	$322.8M	$283.6M	75x	as long as short
Derive HYPE-PERP	−0.0013%	1h	93.721	−0.091%	$16.4M	$7.2M	10x	as long as short
Orderly PERP_HYPE_USDC	−0.0008%	4h	93.778	−0.030%	$169K	$594K	20x	as long as short
Perpl HYPE	0.0000%	43m	93.804	−0.002%	$23K	$329K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.800	−0.006%	$27K	—	150x	as long as short
Phoenix HYPE	+0.0009%	1h	93.913	+0.114%	$217K	$1.2M	10x	as long as short
Aster HYPEUSDT	+0.0011%	4h	93.773	−0.035%	$8.9M	$36.1M	300x	as long as short
Popdex HYPEUSDT	+0.0032%	1h	93.779	−0.029%	$60K	$1.2M	50x	as long as short
Phemex HYPEUSDT	+0.0034%	8h	93.832	+0.028%	$12.8M	$2.6M	50x	as long as short
Binance HYPEUSDT	+0.0039%	4h	93.842	+0.038%	$383.4M	$898.0M	75x	as long as short
MEXC HYPE_USDT	+0.0042%	4h	93.838	+0.034%	$88.1M	$81.8M	100x	as long as short
edgeX HYPEUSDC	+0.0062%	4h	93.918	+0.119%	$5.1M	$29.7M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0084%	8h	93.838	+0.034%	$115.7M	$321.7M	50x	as long as short
Aevo HYPE-PERP	+0.0088%	1h	93.876	+0.074%	$399K	$280K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.838	+0.034%	$18.8M	$58.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.819	+0.014%	$3.1M	$12.0M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.860	+0.057%	$341K	$171K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.820	+0.015%	$42K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.808	+0.002%	$6.6M	$44.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.891	+0.091%	$2.04B	$681.1M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.843	+0.039%	$10.1M	$14.6M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.803	−0.003%	$46.5M	$18.5M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.842	+0.038%	$227.3M	$101.9M	75x	as long as short
BingX HYPE-USDTlong	+0.0100%	4h	93.806	long leg	—	$54.0M	—
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.826	+0.021%	$7.7M	$10.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.832	+0.028%	$31.2M	$54.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.944	+0.147%	$7.6M	$45.4M	10x	as long as short
StandX HYPE-USDshort	+0.0100%	1h	93.836	+0.032%	$678K	$2.5M	20x
Vest HYPE-PERP	+0.0100%	1h	93.836	+0.032%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.817	+0.012%	$479K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.814	+0.009%	$76K	$171K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.879	+0.078%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.770	−0.038%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.944	+0.147%	$205K	$6K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.807	+0.001%	$18.4M	$42.6M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.890	+0.090%	$4.9M	$5.7M	50x	as long as short
BloFin HYPE-USDT	+0.0158%	4h	93.777	−0.031%	$17.0M	$12.5M	75x	as long as short
Kalshi KXHYPEPERP	+0.0162%	8h	93.870	+0.068%	$1.9M	$5.1M	2.3x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.150	+0.367%	$31K	$338K	12x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	93.849	+0.046%	$2.8M	$6.9M	20x	as long as short
Reya HYPERUSDPERP	+0.0250%	1h	93.763	−0.046%	$78K	$143K	15x	as long as short
HTX HYPE-USDT	+0.0325%	4h	94.000	+0.207%	$1.5M	$7.4M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0336%	1h	93.871	+0.069%	$7.4M	$4.7M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0157%	1h	93.804	−0.002%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0673%	1h	93.872	+0.071%	$21.0M	$29.5M	50x	as long as short