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Price arb /

HYPE

all HYPE markets
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Spread before costs (cost unknown: a leg has no order-book sample)+0.101%
7d average−0.218%if it closes, per $10,000$10funding while held, a day+$3.11
Long on InjectiveShort on Bybit
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongInjective HYPE/USDC PERP92.770−0.0004get 0.0000% / 1h56m 27s$30K$131K12x
ShortBybit HYPEUSDT92.8640.0100get 0.0100% / 8h4h 56m$325.3M$291.2M75x

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
$10.13
Funding while held
$3.11
Slippage, 4 orders
no order book: not counted
Fee Injective: 0.01 bp × 2 orders
−$0.02
Fee Bybit: 5.5 bp × 2 orders
−$11
Net
$2.22
Spread needed to break even
0.110%
Slippage unknown: Injective: live order book, 39 min ago; Bybit: live order book, 4 min ago. Net counts fees only.

Cost of waiting

funding view
Funding /8h
+0.0104%
Per $10,000 a day
+$3.11
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Injective live order book, 39 min ago33.37 bpdoesn't fitdoesn't fitdoesn't fitdoesn't fit
Sell Bybit live order book, 4 min ago0.54 bp6.1 bp −$68.2 bp −$8216.5 bp −$1,65137.2 bp −$18.6K

HYPE price on every exchange

against the cheapest. Click to use as the short leg.
Injective92.770cheapest
Ondo Perps92.850+0.086%
Bybit92.864+0.101%
OKX92.880+0.119%Arcus92.881+0.120%Katana Perps92.890+0.129%Aster92.894+0.134%Extended92.899+0.139%Bitget92.899+0.139%BingX92.900+0.140%Gate92.902+0.142%Hibachi92.904+0.144%Binance92.904+0.145%Vest92.905+0.146%Popdex92.906+0.147%Reya92.907+0.148%KuCoin92.910+0.151%01 Exchange92.919+0.161%SoDEX92.922+0.164%Nado92.924+0.166%GMX92.927+0.170%Perpl92.928+0.170%BloFin92.929+0.171%Pacifica92.931+0.174%Polymarket Perps92.933+0.176%MEXC92.935+0.178%dYdX92.938+0.181%Hotstuff92.939+0.182%Bullet92.943+0.186%Variational Omni92.947+0.191%Bluefin92.949+0.193%Derive92.950+0.194%Backpack92.952+0.196%Phemex92.952+0.196%gTrade (Gains Network)92.954+0.198%Aevo92.954+0.198%StandX92.961+0.206%RISEx92.963+0.209%SunX92.966+0.211%Lighter RH92.969+0.215%Orderly92.969+0.215%Paradex92.970+0.215%Aftermath Perps92.972+0.217%Kraken Futures92.975+0.220%Hyperliquid92.981+0.227%edgeX92.983+0.229%Lighter92.984+0.231%Coinbase International92.990+0.237%Bulk92.996+0.243%ApeX Omni92.996+0.244%Kalshi93.004+0.252%Deribit93.033+0.283%Phoenix93.047+0.299%HTX93.100+0.356%

HYPE on 54 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Injective HYPE/USDC PERPlong0.000%−0.0004%1h$30K$131K12x
Ondo Perps HYPE-USD.P+0.086%+0.0070%1h$698K$1.0M10xas long as short
Bybit HYPEUSDTshort+0.101%+0.0100%8h$325.3M$291.2M75x
OKX HYPE-USDT-SWAP+0.119%+0.0100%8h$114.0M$317.6M50xas long as short
Arcus HYPE-USD+0.120%+0.0082%1h$1.2M$4.1M10xas long as short
Katana Perps HYPE-USD+0.129%+0.0100%8h$13K$1.9M10xas long as short
Aster HYPEUSDT+0.134%+0.0044%4h$9.0M$36.4M300xas long as short
Extended HYPE-USD+0.139%+0.0104%1h$18.0M$40.9M50xas long as short
Bitget HYPEUSDT+0.139%+0.0100%4h$225.8M$104.8M75xas long as short
BingX HYPE-USDT+0.140%+0.0100%4h—$56.3M—as long as short
Show all 54 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Gate HYPE_USDT+0.142%+0.0100%4h$43.9M$55.1M75xas long as short
Hibachi HYPE/USDT-P+0.144%−0.0928%1h$194K$239K7xas long as short
Binance HYPEUSDT+0.145%+0.0100%4h$386.7M$873.1M75xas long as short
Vest HYPE-PERP+0.146%+0.0100%1h—$407K5xas long as short
Popdex HYPEUSDT+0.147%+0.0096%1h$54K$1.3M50xas long as short
Reya HYPERUSDPERP+0.148%+0.0240%1h$76K$157K15xas long as short
KuCoin HYPEUSDTM+0.151%+0.0100%4h$46.2M$20.2M75xas long as short
01 Exchange HYPEUSD+0.161%+0.0040%1h$89K$324K20xas long as short
SoDEX HYPE-USD+0.164%+0.0100%1h$2.0M$2.0M10xas long as short
Nado HYPE-PERP+0.166%+0.0100%1h$6.4M$43.8M10xas long as short
GMX HYPE/USD [WBTC.b-USDC]+0.170%L +0.0339% / S −0.0164%1h$1.4M—100xas long as short
Perpl HYPE+0.170%0.0000%43m$25K$393K10xas long as short
BloFin HYPE-USDT+0.171%+0.0340%4h$17.3M$12.3M75xas long as short
Pacifica HYPE+0.174%+0.0100%1h$10.0M$14.4M20xas long as short
Polymarket Perps HYPE-USD+0.176%+0.0100%1h$464K$2.6M20xas long as short
MEXC HYPE_USDT+0.178%+0.0100%4h$91.4M$81.7M100xas long as short
dYdX HYPE-USD+0.181%0.0000%1h$126K$28K5xas long as short
Hotstuff HYPE-PERP+0.182%−0.0080%1h$3K$30725xas long as short
Bullet HYPE-USD+0.186%+0.0100%1h$112K$568K20xas long as short
Variational Omni HYPE+0.191%+0.0100%8h$28.6M$49.5M—as long as short
Bluefin HYPE-PERP+0.193%+0.0100%1h$75K$177K20xas long as short
Derive HYPE-PERP+0.194%+0.0100%1h$16.3M$7.1M10xas long as short
Backpack HYPE_USDC_PERP+0.196%+0.0100%1h$7.9M$11.6M20xas long as short
Phemex HYPEUSDT+0.196%+0.0100%8h$12.6M$2.4M50xas long as short
gTrade (Gains Network) HYPE/USD+0.198%L +0.0002% / S −0.0005%1h$43K—150xas long as short
Aevo HYPE-PERP+0.198%+0.0104%1h$395K$321K20xas long as short
StandX HYPE-USD+0.206%+0.0100%1h$673K$2.3M20xas long as short
RISEx HYPE/USDC+0.209%+0.0516%1h$2.6M$6.3M20xas long as short
SunX HYPE-USDT+0.211%+0.0100%4h$32K$1.6M20xas long as short
Lighter RH HYPE+0.215%+0.0096%1h$3.1M$12.0M20xas long as short
Orderly PERP_HYPE_USDC+0.215%+0.0100%4h$192K$507K20xas long as short
Paradex HYPE-USD-PERP+0.215%+0.0104%8h$340K$288K20xas long as short
Aftermath Perps HYPEUSD+0.217%+0.0044%1h$22K$28K10xas long as short
Kraken Futures PF_HYPEUSD+0.220%+0.0151%1h$16.1M$21.1M50xas long as short
Hyperliquid HYPE+0.227%+0.0503%1h$2.01B$671.2M10xas long as short
edgeX HYPEUSDC+0.229%+0.0107%4h$5.1M$28.8M30xas long as short
Lighter HYPE+0.231%+0.0096%1h$18.6M$57.4M20xas long as short
Coinbase International HYPE-PERP-INTX+0.237%+0.0200%1h$4.9M$5.7M50xas long as short
Bulk HYPE-USD+0.243%+0.0100%1h$203K$11K10xas long as short
ApeX Omni HYPEUSDT+0.244%+0.0100%1h$427K$906K50xas long as short
Kalshi KXHYPEPERP+0.252%0.0000%8h$2.0M$5.5M2.3xas long as short
Deribit HYPE_USDC-PERPETUAL+0.283%+0.0471%1h$7.4M$4.7M50xas long as short
Phoenix HYPE+0.299%+0.0172%1h$220K$954K10xas long as short
HTX HYPE-USDT+0.356%+0.0489%4h$1.5M$7.4M75xas long as short