Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0076%/8h= +8.3% APRpaid last 24h +0.002%

Price spread now: Binance against OKX+0.026%7-day average +0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$17as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$210.214% of the position

Long on OKX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.041%+$4 on $10k

Price spread, last 7 days−0.026%−$3 · spread now +0.026%, 7d avg +0.021%

Together, before fees+0.014%+$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.021%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX HYPE-USDT-SWAP	94.755	0.0024	pay 0.0024% / 8h	6h 55m	$118.3M	$318.5M	50x
Short	Binance HYPEUSDT	94.780	0.0100	get 0.0050% / 4h	2h 55m	$380.9M	$905.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against OKX. 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 OKXbpFee BinancebpOrdersPrice spread, now +0.026%Rate

Funding earned: $16.01
Price spread: +0.026% → +0.021%: $0.52
Slippage, 4 orders: −$1.43
Fee OKX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$4.9
Costs to cover: 0.214%
Break-even: 9.1 days

Slippage from OKX: live order book, 4 min ago; Binance: 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 OKX live order book, 4 min ago	0.05 bp	5.7 bp −$6	9.2 bp −$92	20.4 bp −$2,037	doesn't fit
Sell Binance live order book, 4 min ago	0.05 bp	5.3 bp −$5	8.0 bp −$80	15.9 bp −$1,591	doesn't fit

HYPE on 54 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
Bluefin HYPE-PERP	−0.1149%	1h	94.813	+0.061%	$78K	$147K	20x	as long as short
Hibachi HYPE/USDT-P	−0.1112%	1h	94.880	+0.132%	$211K	$265K	7x	as long as short
Bullet HYPE-USD	−0.0525%	1h	94.843	+0.093%	$113K	$580K	20x	as long as short
Kraken Futures PF_HYPEUSD	−0.0377%	1h	94.828	+0.077%	$18.8M	$35.8M	50x	as long as short
Ondo Perps HYPE-USD.P	−0.0356%	1h	94.830	+0.079%	$694K	$1.3M	10x	as long as short
01 Exchange HYPEUSD	−0.0240%	1h	94.861	+0.112%	$90K	$354K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0189%	1h	95.095	+0.359%	$22K	$19K	10x	as long as short
Arcus HYPE-USD	−0.0159%	1h	94.854	+0.104%	$1.0M	$3.0M	10x	as long as short
Polymarket Perps HYPE-USD	−0.0131%	1h	94.911	+0.165%	$499K	$2.6M	20x	as long as short
Phemex HYPEUSDT	−0.0115%	8h	94.853	+0.103%	$12.9M	$2.8M	50x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate HYPE_USDT	−0.0092%	4h	94.767	+0.013%	$53.3M	$53.9M	75x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.928	+0.183%	$3K	$331	25x	as long as short
Vest HYPE-PERP	−0.0056%	1h	94.952	+0.208%	—	$88K	5x	as long as short
SoDEX HYPE-USD	−0.0031%	1h	94.815	+0.063%	$2.1M	$1.3M	10x	as long as short
Coinbase International HYPE-PERP-INTX	−0.0024%	1h	94.850	+0.100%	$4.7M	$5.7M	50x	as long as short
Bybit HYPEUSDT	−0.0010%	8h	94.773	+0.019%	$318.8M	$280.2M	75x	as long as short
Orderly PERP_HYPE_USDC	−0.0009%	4h	94.829	+0.078%	$148K	$665K	20x	as long as short
BingX HYPE-USDT	−0.0008%	4h	94.748	−0.007%	—	$50.5M	—	as long as short
dYdX HYPE-USD	0.0000%	1h	94.913	+0.166%	$130K	$93K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.919	+0.173%	$1.8M	$5.2M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.870	+0.121%	$19K	$271K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	95.100	+0.364%	$86K	—	150x	as long as short
Phoenix HYPE	+0.0008%	1h	95.043	+0.304%	$203K	$1.0M	10x	as long as short
OKX HYPE-USDT-SWAPlong	+0.0024%	8h	94.755	long leg	$118.3M	$318.5M	50x
Deribit HYPE_USDC-PERPETUAL	+0.0035%	1h	94.919	+0.173%	$7.5M	$4.3M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0036%	8h	94.938	+0.193%	$339K	$38K	20x	as long as short
Bitget HYPEUSDT	+0.0050%	4h	94.795	+0.042%	$227.8M	$92.9M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0052%	1h	94.727	−0.030%	$7.3M	$10.3M	20x	as long as short
Aster HYPEUSDT	+0.0060%	4h	94.772	+0.018%	$9.0M	$36.3M	300x	as long as short
Lighter RH HYPE	+0.0072%	1h	94.814	+0.062%	$3.2M	$9.9M	20x	as long as short
Lighter HYPE	+0.0080%	1h	94.820	+0.069%	$16.2M	$60.3M	20x	as long as short
edgeX HYPEUSDC	+0.0085%	4h	94.942	+0.197%	$5.0M	$30.9M	30x	as long as short
Bulk HYPE-USD	+0.0094%	1h	94.986	+0.244%	$221K	$14K	10x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.844	+0.094%	$267K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.830	+0.079%	$40K	$1.5M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.873	+0.124%	$7.3M	$55.3M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.952	+0.208%	$2.10B	$681.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.917	+0.171%	$10.2M	$14.0M	20x	as long as short
Binance HYPEUSDTshort	+0.0100%	4h	94.780	+0.026%	$380.9M	$905.4M	75x
MEXC HYPE_USDT	+0.0100%	4h	94.759	+0.004%	$87.4M	$85.6M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.784	+0.031%	$47.3M	$18.3M	75x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.956	+0.213%	$29.9M	$55.6M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	95.006	+0.265%	$7.7M	$43.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.921	+0.175%	$348K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	95.007	+0.266%	$691K	$2.7M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.762	+0.007%	$32K	$1.5M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.981	+0.239%	$1.4M	$6.7M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.736	−0.020%	$18.3M	$41.7M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	95.020	+0.280%	$402K	$136K	20x	as long as short
RISEx HYPE/USDC	+0.0166%	1h	94.870	+0.121%	$3.2M	$6.2M	20x	as long as short
Reya HYPERUSDPERP	+0.0271%	1h	94.849	+0.100%	$86K	$93K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0155%	1h	94.919	+0.173%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.754	−0.001%	$17.2M	$12.2M	75x	as long as short
Injective HYPE/USDC PERP	+0.0850%	1h	95.480	+0.765%	$31K	$335K	12x	as long as short