Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0330%/8hnext payment −$1.65 per $10,000 · paid last 24h −0.034%

Price spread now: Bitget against HTX−0.139%7-day average −0.055% · you buy dearer than you sell

to open and close $10k−$37fees + slippage, both legs, in and out

costs, in % of the position0.369%what the two incomes have to cover

Long on HTX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.104%−$10 on $10k

Price spread, last 3 days (all we have)+0.123%+$12 · spread now −0.139%, 7d avg −0.055%

Together, before fees+0.019%+$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Bitget is 0.084% cheaper against HTX than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.055%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.104% in total (about -5.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.65 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX HYPE-USDT	93.087	0.0430	pay 0.0215% / 4h	33m 51s	$1.5M	$7.4M	75x
Short	Bitget HYPEUSDT	92.958	0.0100	get 0.0050% / 4h	33m 51s	$225.8M	$103.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against HTX. 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 HTXbpFee BitgetbpOrdersPrice spread, now −0.139%Rate

Funding earned: −$69.25
Price spread: −0.139% → −0.055%: −$8.39
Slippage, 4 orders: −$12.92
Fee HTX: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$114.56
Costs to cover: 0.369%
Break-even: never at this rate

Slippage from HTX: live order book, 3 min ago; Bitget: live order book, 7 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 HTX live order book, 3 min ago	0.05 bp	9.1 bp −$9	12.6 bp −$126	43.4 bp −$4,340	doesn't fit
Sell Bitget live order book, 7 min ago	0.05 bp	6.4 bp −$6	11.3 bp −$113	18.9 bp −$1,888	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	−0.0968%	1h	92.847	−0.258%	$194K	$244K	7x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.947	−0.150%	$3K	$331	25x	as long as short
Injective HYPE/USDC PERP	−0.0004%	1h	93.270	+0.197%	$30K	$177K	12x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.972	−0.123%	$126K	$28K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.007	−0.086%	$2.0M	$5.5M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	92.909	−0.192%	$25K	$394K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0006%	1h	92.928	−0.171%	$43K	—	150x	as long as short
Aster HYPEUSDT	+0.0015%	4h	92.939	−0.159%	$9.0M	$36.2M	300x	as long as short
Aftermath Perps HYPEUSD	+0.0034%	1h	92.974	−0.122%	$22K	$22K	10x	as long as short
BingX HYPE-USDT	+0.0036%	4h	92.947	−0.150%	—	$54.7M	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange HYPEUSD	+0.0040%	1h	92.923	−0.176%	$89K	$323K	20x	as long as short
Arcus HYPE-USD	+0.0082%	1h	92.897	−0.204%	$1.2M	$4.0M	10x	as long as short
Ondo Perps HYPE-USD.P	+0.0095%	1h	92.980	−0.115%	$698K	$1.0M	10x	as long as short
Lighter HYPE	+0.0096%	1h	92.981	−0.114%	$18.6M	$57.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.965	−0.131%	$3.2M	$12.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.908	−0.192%	$55K	$1.3M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	92.960	−0.136%	$21K	$1.8M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.918	−0.181%	$6.4M	$43.6M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.951	−0.146%	$10.0M	$14.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.952	−0.145%	$387.9M	$868.9M	75x	as long as short
Bybit HYPEUSDT	+0.0100%	8h	92.920	−0.179%	$324.6M	$288.1M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	92.926	−0.173%	$114.0M	$313.5M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.888	−0.214%	$204K	$12K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	92.935	−0.163%	$44.0M	$55.6M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.968	−0.128%	$90.7M	$82.2M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.927	−0.172%	$46.3M	$19.9M	75x	as long as short
Bitget HYPEUSDTshort	+0.0100%	4h	92.958	−0.139%	$225.8M	$103.9M	75x
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.959	−0.138%	$7.9M	$11.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.875	−0.227%	$28.9M	$48.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.032	−0.059%	$7.4M	$47.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.071	−0.017%	$459K	$890K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.926	−0.173%	$672K	$2.3M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.912	−0.188%	—	$416K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.941	−0.157%	$466K	$2.6M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	92.916	−0.184%	$111K	$569K	20x	as long as short
Orderly PERP_HYPE_USDC	+0.0100%	4h	92.906	−0.194%	$187K	$495K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.902	−0.199%	$16.3M	$7.0M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.948	−0.149%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.953	−0.144%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	92.975	−0.120%	$12.6M	$2.5M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0103%	8h	92.978	−0.117%	$340K	$175K	20x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.946	−0.151%	$18.1M	$40.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.936	−0.162%	$395K	$321K	20x	as long as short
edgeX HYPEUSDC	+0.0108%	4h	93.073	−0.015%	$5.1M	$28.9M	30x	as long as short
Kraken Futures PF_HYPEUSD	+0.0151%	1h	93.011	−0.082%	$16.1M	$21.0M	50x	as long as short
Phoenix HYPE	+0.0172%	1h	92.957	−0.140%	$204K	$954K	10x	as long as short
Hyperliquid HYPE	+0.0191%	1h	92.992	−0.102%	$2.01B	$661.1M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0200%	1h	93.070	−0.018%	$4.9M	$5.6M	50x	as long as short
Bluefin HYPE-PERP	+0.0208%	1h	92.910	−0.190%	$75K	$173K	20x	as long as short
Reya HYPERUSDPERP	+0.0241%	1h	92.892	−0.209%	$76K	$157K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0165%	1h	92.909	−0.191%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.953	−0.144%	$17.4M	$12.1M	75x	as long as short
HTX HYPE-USDTlong	+0.0430%	4h	93.087	long leg	$1.5M	$7.4M	75x
Deribit HYPE_USDC-PERPETUAL	+0.0492%	1h	93.033	−0.058%	$7.4M	$4.7M	50x	as long as short
RISEx HYPE/USDC	+0.0516%	1h	92.976	−0.119%	$2.7M	$6.4M	20x	as long as short