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% APRnext payment +$0.00 per $10,000 · paid last 24h +0.016%

Price spread now: SunX against BingX+0.085%7-day average +0.076% · you sell dearer than you buy

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$670.671% of the position

Long on BingX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.088%+$9 on $10k

Price spread, last 3 days (all we have)−0.069%−$7 · spread now +0.085%, 7d avg +0.076%

Together, before fees+0.020%+$2 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX HYPE-USDT	93.221	0.0100	pay 0.0050% / 4h	2h 06m	—	$54.1M	—
Short	SunX HYPE-USDT	93.300	0.0100	get 0.0050% / 4h	2h 06m	$32K	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.085%Rate

Funding earned: $0
Price spread: +0.085% → +0.076%: $0.85
Slippage, 4 orders: −$49.09
Fee BingX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$66.23
Costs to cover: 0.671%
Break-even: never at this rate

Slippage from BingX: live order book, 2 min ago; SunX: live order book, 8 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, 2 min ago	0.11 bp	5.6 bp −$6	6.4 bp −$64	10.5 bp −$1,054	14.3 bp −$7,149
Sell SunX live order book, 8 min ago	19.35 bp	32.4 bp −$32	doesn't fit	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	−0.0856%	1h	93.329	+0.116%	$197K	$233K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0258%	1h	93.394	+0.185%	$22K	$22K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0230%	1h	93.210	−0.012%	$700K	$934K	10x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	93.237	+0.017%	$90K	$358K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.236	+0.016%	$3K	$331	25x	as long as short
Derive HYPE-PERP	−0.0035%	1h	93.223	+0.003%	$16.4M	$7.1M	10x	as long as short
Bullet HYPE-USD	−0.0028%	1h	93.274	+0.057%	$111K	$580K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.280	+0.063%	$127K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.323	+0.110%	$23K	$334K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.316	+0.102%	$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	+0.0011%	4h	93.238	+0.019%	$8.9M	$35.8M	300x	as long as short
Bybit HYPEUSDT	+0.0030%	8h	93.220	−0.001%	$324.6M	$287.2M	75x	as long as short
Gate HYPE_USDT	+0.0030%	4h	93.227	+0.006%	$43.9M	$57.8M	75x	as long as short
Popdex HYPEUSDT	+0.0032%	1h	93.232	+0.012%	$58K	$1.2M	50x	as long as short
Orderly PERP_HYPE_USDC	+0.0053%	4h	93.288	+0.072%	$165K	$538K	20x	as long as short
Phoenix HYPE	+0.0068%	1h	93.345	+0.133%	$215K	$1.2M	10x	as long as short
SoDEX HYPE-USD	+0.0089%	1h	93.255	+0.036%	$2.0M	$2.0M	10x	as long as short
Vest HYPE-PERP	+0.0094%	1h	93.335	+0.123%	—	$454K	5x	as long as short
Lighter HYPE	+0.0096%	1h	93.270	+0.052%	$18.6M	$60.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.250	+0.031%	$3.1M	$12.4M	20x	as long as short
Bluefin HYPE-PERP	+0.0099%	1h	93.277	+0.060%	$75K	$168K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.244	+0.025%	$339K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.250	+0.031%	$36K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.305	+0.090%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.351	+0.139%	$2.03B	$670.7M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.264	+0.046%	$10.0M	$14.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.219	−0.002%	$384.7M	$889.8M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.215	−0.006%	$114.5M	$314.4M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.199	−0.024%	$1.2M	$4.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.285	+0.069%	$204K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.219	−0.002%	$93.0M	$82.4M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.259	+0.041%	$46.1M	$18.8M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.234	+0.014%	$226.5M	$102.6M	75x	as long as short
BingX HYPE-USDTlong	+0.0100%	4h	93.221	long leg	—	$54.1M	—
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.303	+0.088%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.263	+0.045%	$29.1M	$50.2M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.304	+0.089%	$7.5M	$45.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.276	+0.059%	$405K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.340	+0.128%	$675K	$2.5M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.338	+0.126%	$493K	$2.6M	20x	as long as short
SunX HYPE-USDTshort	+0.0100%	4h	93.300	+0.085%	$32K	$1.6M	20x
Phemex HYPEUSDT	+0.0100%	8h	93.303	+0.088%	$12.7M	$2.6M	50x	as long as short
Kalshi KXHYPEPERP	+0.0101%	8h	93.392	+0.183%	$1.9M	$5.2M	2.3x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.206	−0.016%	$18.4M	$41.7M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.275	+0.058%	$397K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0113%	4h	93.268	+0.051%	$5.1M	$29.4M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.390	+0.181%	$4.9M	$5.7M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0221%	1h	93.371	+0.161%	$7.4M	$4.6M	50x	as long as short
Reya HYPERUSDPERP	+0.0246%	1h	93.304	+0.089%	$78K	$158K	15x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.910	+0.739%	$31K	$291K	12x	as long as short
HTX HYPE-USDT	+0.0292%	4h	93.477	+0.275%	$1.5M	$7.7M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0165%	1h	93.331	+0.118%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.275	+0.058%	$17.1M	$12.5M	75x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.292	+0.077%	$2.8M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0574%	1h	93.395	+0.187%	$19.1M	$26.2M	50x	as long as short