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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
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Alert: spread
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Funding you earn now, next payment 00:00 UTC+0.0075%/8h= +8.2% APRpaid last 24h +0.005%
Price spread now: Bullet against Bybit−0.045%7-day average +0.049% · 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−$37as in the Price arb table
costs, in and out, $10k−$270.274% of the position
Long on BybitShort on Bullet
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.018%+$2 on $10k
Price spread, last 3 days (all we have)+0.284%+$28 · spread now −0.045%, 7d avg +0.049%
Together, before fees+0.302%+$30 on $10k · with fees, hour by hour
Funding pays, the price is against you. Bullet is 0.094% cheaper against Bybit than usual: you would sell low and buy high (spread −0.045% now, against its 7-day average of +0.049%). If the spread goes back, that is −$9 on $10k: about 4.2 days of funding at the current rate (+$2 a day). At the pace of the last 3 days (+0.018% in total) that is about 17 days.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit HYPEUSDT93.5500.0017pay 0.0017% / 8h22m 56s$321.6M$283.7M75x
ShortBullet HYPE-USD93.5080.0092get 0.0012% / 1h22m 56s$113K$576K20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bullet against Bybit. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$15.79
Price spread: −0.045% → +0.049%
−$9.39
Slippage, 4 orders
−$8.36
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee Bullet: 4 bp × 2 orders
−$8
Net
−$20.96
Costs to cover
0.274%
Break-even
16.3 days
Slippage from Bybit: live order book, 1 min ago; Bullet: live order book, 56 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 Bybit live order book, 1 min ago0.54 bp7.7 bp −$89.9 bp −$9917.0 bp −$1,69762.3 bp −$31.1K
Sell Bullet live order book, 56 min ago0.22 bp4.6 bp −$57.9 bp −$79doesn't fitdoesn't fit

HYPE on 55 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−0.0960%1h93.526−0.026%$198K$230K7xas long as short
Aftermath Perps HYPEUSD−0.0383%1h93.594+0.047%$22K$22K10xas long as short
Arcus HYPE-USD−0.0233%1h93.404−0.156%$1.2M$3.8M10xas long as short
Ondo Perps HYPE-USD.P−0.0087%1h93.450−0.107%$703K$910K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.507−0.046%$3K$33125xas long as short
01 Exchange HYPEUSD−0.0056%1h93.478−0.077%$86K$366K20xas long as short
Orderly PERP_HYPE_USDC−0.0001%4h93.533−0.018%$168K$586K20xas long as short
dYdX HYPE-USD0.0000%1h93.573+0.025%$127K$30K5xas long as short
Perpl HYPE0.0000%43m93.500−0.053%$23K$329K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0003%1h93.548−0.002%$26K—150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster HYPEUSDT+0.0005%4h93.557+0.007%$8.9M$36.0M300xas long as short
Phoenix HYPE+0.0009%1h93.618+0.073%$214K$1.2M10xas long as short
Derive HYPE-PERP+0.0011%1h93.491−0.063%$16.3M$7.1M10xas long as short
Bybit HYPEUSDTlong+0.0017%8h93.550long leg$321.6M$283.7M75x
MEXC HYPE_USDT+0.0050%4h93.561+0.012%$87.7M$81.9M100xas long as short
Binance HYPEUSDT+0.0051%4h93.564+0.015%$382.4M$896.2M75xas long as short
edgeX HYPEUSDC+0.0062%4h93.464−0.092%$5.1M$29.7M30xas long as short
Phemex HYPEUSDT+0.0070%8h93.562+0.013%$12.7M$2.6M50xas long as short
Gate HYPE_USDT+0.0074%4h93.553+0.003%$43.9M$59.7M75xas long as short
Popdex HYPEUSDT+0.0080%1h93.498−0.056%$59K$1.2M50xas long as short
Bullet HYPE-USDshort+0.0092%1h93.508−0.045%$113K$576K20x
Lighter HYPE+0.0096%1h93.594+0.047%$18.8M$60.2M20xas long as short
Lighter RH HYPE+0.0096%1h93.567+0.018%$3.0M$12.3M20xas long as short
Aevo HYPE-PERP+0.0096%1h93.545−0.005%$398K$318K20xas long as short
Paradex HYPE-USD-PERP+0.0099%8h93.525−0.027%$340K$171K20xas long as short
OKX HYPE-USDT-SWAP+0.0099%8h93.561+0.012%$115.3M$320.7M50xas long as short
Katana Perps HYPE-USD+0.0099%8h93.470−0.086%$22K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.489−0.065%$5.7M$44.4M10xas long as short
Pacifica HYPE+0.0100%1h93.543−0.008%$10.1M$14.5M20xas long as short
Bulk HYPE-USD+0.0100%1h93.625+0.080%$204K$7K10xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.570+0.021%$46.3M$18.6M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.580+0.032%$226.7M$102.6M75xas long as short
BingX HYPE-USDT+0.0100%4h93.554+0.004%—$54.1M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.574+0.026%$7.8M$10.5M20xas long as short
Variational Omni HYPE+0.0100%8h93.574+0.026%$31.2M$54.0M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.619+0.074%$7.6M$45.1M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.485−0.069%$358K$1.1M50xas long as short
StandX HYPE-USD+0.0100%1h93.557+0.007%$676K$2.5M20xas long as short
Vest HYPE-PERP+0.0100%1h93.533−0.018%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.530−0.021%$490K$2.4M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.525−0.027%$76K$171K20xas long as short
SunX HYPE-USDT+0.0100%4h93.570+0.021%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.548−0.002%$2.0M$2.0M10xas long as short
Injective HYPE/USDC PERP+0.0104%1h94.410+0.919%$31K$338K12xas long as short
Extended HYPE-USD+0.0104%1h93.543−0.008%$18.3M$42.8M50xas long as short
Kalshi KXHYPEPERP+0.0134%8h93.585+0.037%$1.9M$5.0M2.3xas long as short
Coinbase International HYPE-PERP-INTX+0.0152%1h93.610+0.064%$4.9M$5.7M50xas long as short
Hyperliquid HYPE+0.0157%1h93.590+0.043%$2.03B$677.1M10xas long as short
BloFin HYPE-USDT+0.0203%4h93.528−0.024%$17.1M$12.6M75xas long as short
HTX HYPE-USDT+0.0206%4h93.745+0.208%$1.5M$7.8M75xas long as short
Reya HYPERUSDPERP+0.0249%1h93.503−0.050%$77K$142K15xas long as short
RISEx HYPE/USDC+0.0284%1h93.547−0.003%$2.8M$6.9M20xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0337% / S −0.0163%1h93.537−0.014%$1.4M—100xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0455%1h93.646+0.103%$7.4M$4.6M50xas long as short
Kraken Futures PF_HYPEUSD+0.0580%1h93.633+0.088%$20.9M$29.5M50xas long as short