Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0165%/8h= +18.0% APRpaid last 24h +0.019%

Price spread now: BingX against Ondo Perps+0.142%7-day average −0.007% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Ondo Perps Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.050%+$5 on $10k

Price spread, last 7 days+0.031%+$3 · spread now +0.142%, 7d avg −0.007%

Together, before fees+0.081%+ Points / potential airdropOndo Perps: Active · farm board+$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and BingX is 0.149% dearer against Ondo Perps than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of −0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps HYPE-USD.P	93.170	−0.0129	get 0.0016% / 1h	10m 30s	$698K	$1.0M	10x
Short	BingX HYPE-USDT	93.302	0.0036	get 0.0018% / 4h	1h 10m	—	$53.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Ondo Perps. 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 Ondo PerpsbpFee BingXbpOrdersPrice spread, now +0.142%Rate

Funding earned: $34.61
Price spread: +0.142% → −0.007%: $14.89
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee BingX: 5 bp × 2 orders: −$10
Net: $34.5
Costs to cover: 0.150%
Break-even: 0.0 days

Slippage unknown: Ondo Perps: no order-book sample; BingX: live order book, 8 min ago. Net counts fees only.

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 Ondo Perps no order-book sample	—	—	—	—	—
Sell BingX live order book, 8 min ago	0.11 bp	6.3 bp −$6	6.6 bp −$66	8.7 bp −$869	9.2 bp −$4,583

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0984%	1h	93.267	+0.105%	$197K	$226K	7x	as long as short
Arcus HYPE-USD	−0.0899%	1h	93.182	+0.013%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.Plong	−0.0129%	1h	93.170	long leg	$698K	$1.0M	10x
Hotstuff HYPE-PERP	−0.0080%	1h	93.300	+0.140%	$3K	$331	25x	as long as short
Aftermath Perps HYPEUSD	−0.0064%	1h	93.218	+0.051%	$22K	$21K	10x	as long as short
Orderly PERP_HYPE_USDC	−0.0048%	4h	93.270	+0.107%	$155K	$654K	20x	as long as short
01 Exchange HYPEUSD	−0.0048%	1h	93.309	+0.149%	$85K	$345K	20x	as long as short
Phemex HYPEUSDT	−0.0003%	8h	93.277	+0.115%	$12.6M	$2.7M	50x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.319	+0.160%	$128K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.238	+0.073%	$23K	$319K	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.268	+0.105%	$63K	—	150x	as long as short
Bullet HYPE-USD	+0.0008%	1h	93.226	+0.060%	$111K	$579K	20x	as long as short
Aster HYPEUSDT	+0.0024%	4h	93.292	+0.131%	$8.8M	$35.9M	300x	as long as short
Phoenix HYPE	+0.0026%	1h	93.156	−0.015%	$212K	$1.2M	10x	as long as short
BingX HYPE-USDTshort	+0.0036%	4h	93.302	+0.142%	—	$53.0M	—
Gate HYPE_USDT	+0.0046%	4h	93.293	+0.132%	$44.6M	$55.5M	75x	as long as short
Bybit HYPEUSDT	+0.0047%	8h	93.300	+0.140%	$321.0M	$276.9M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0077%	8h	93.289	+0.128%	$113.8M	$299.5M	50x	as long as short
Derive HYPE-PERP	+0.0086%	1h	93.247	+0.083%	$16.2M	$7.5M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.316	+0.156%	$16.2M	$62.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.311	+0.151%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.290	+0.129%	$67K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.336	+0.178%	$340K	$162K	20x	as long as short
MEXC HYPE_USDT	+0.0098%	4h	93.297	+0.136%	$89.5M	$81.2M	100x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.305	+0.145%	$377.3M	$880.0M	75x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.230	+0.064%	$24K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.290	+0.128%	$5.8M	$43.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.347	+0.190%	$2.03B	$657.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.337	+0.179%	$10.0M	$14.8M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.311	+0.151%	$45.9M	$18.2M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.255	+0.091%	$225.5M	$96.4M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.280	+0.118%	$7.4M	$10.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.197	+0.029%	$31.4M	$53.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.122	−0.051%	$7.5M	$46.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.125	−0.048%	$338K	$998K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.265	+0.102%	$666K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.325	+0.166%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.299	+0.138%	$473K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.268	+0.105%	$79K	$167K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.328	+0.170%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.298	+0.137%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.155	−0.016%	$203K	$10K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.271	+0.109%	$18.3M	$42.9M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.287	+0.125%	$397K	$162K	20x	as long as short
edgeX HYPEUSDC	+0.0112%	4h	93.083	−0.094%	$5.0M	$28.9M	30x	as long as short
HTX HYPE-USDT	+0.0137%	4h	93.400	+0.247%	$1.4M	$6.0M	75x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.340	+0.182%	$4.8M	$5.5M	50x	as long as short
Reya HYPERUSDPERP	+0.0259%	1h	93.213	+0.046%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0268%	8h	93.317	+0.158%	$1.9M	$5.2M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0156%	1h	93.269	+0.107%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0338%	4h	93.247	+0.083%	$17.0M	$11.5M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0436%	1h	93.390	+0.236%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0510%	1h	93.387	+0.233%	$3.2M	$6.3M	20x	as long as short
Injective HYPE/USDC PERP	+0.0519%	1h	93.160	−0.011%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0685%	1h	93.350	+0.193%	$20.7M	$29.8M	50x	as long as short