Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC0.0000%/8hpaid last 24h −0.019%

Price spread now: BingX against Pacifica−0.041%7-day average −0.006% · you buy dearer than you sell

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

Long on Pacifica Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.014%+$1 on $10k

Price spread, last 7 days+0.027%+$3 · spread now −0.041%, 7d avg −0.006%

Together, before fees+0.041%+ Points / potential airdropPacifica: Active · farm board+$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BingX is 0.034% cheaper against Pacifica than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica HYPE	93.424	0.0100	pay 0.0013% / 1h	13m 00s	$10.1M	$14.3M	20x
Short	BingX HYPE-USDT	93.386	0.0100	get 0.0050% / 4h	13m 00s	—	$54.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Pacifica. 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 PacificabpFee BingXbpOrdersPrice spread, now −0.041%Rate

Funding earned: $0
Price spread: −0.041% → −0.006%: −$3.42
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee BingX: 5 bp × 2 orders: −$10
Net: −$21.42
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Pacifica: live order book, just now; BingX: live order book, 20 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 Pacifica live order book, just now	0.05 bp	4.1 bp −$4	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 20 min ago	0.11 bp	5.6 bp −$6	6.4 bp −$64	11.8 bp −$1,178	17.3 bp −$8,649

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	−0.1032%	1h	93.342	−0.088%	$196K	$244K	7x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.413	−0.012%	$3K	$331	25x	as long as short
Injective HYPE/USDC PERP	−0.0004%	1h	93.620	+0.210%	$30K	$177K	12x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.352	−0.077%	$127K	$33K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.458	+0.036%	$2.0M	$5.4M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.413	−0.012%	$24K	$373K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0006%	1h	93.412	−0.012%	$43K	—	150x	as long as short
Aftermath Perps HYPEUSD	+0.0008%	1h	93.321	−0.110%	$22K	$22K	10x	as long as short
Aster HYPEUSDT	+0.0031%	4h	93.385	−0.042%	$9.0M	$36.2M	300x	as long as short
01 Exchange HYPEUSD	+0.0048%	1h	93.450	+0.028%	$89K	$323K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus HYPE-USD	+0.0082%	1h	93.381	−0.046%	$1.2M	$4.0M	10x	as long as short
Gate HYPE_USDT	+0.0084%	4h	93.391	−0.035%	$44.2M	$56.0M	75x	as long as short
Bybit HYPEUSDT	+0.0095%	8h	93.347	−0.082%	$325.6M	$287.3M	75x	as long as short
Lighter HYPE	+0.0096%	1h	93.433	+0.009%	$18.7M	$58.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.400	−0.026%	$3.1M	$12.4M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.418	−0.006%	$56K	$1.3M	50x	as long as short
Orderly PERP_HYPE_USDC	+0.0098%	4h	93.386	−0.041%	$182K	$505K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.440	+0.017%	$21K	$1.8M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.421	−0.004%	$6.4M	$43.6M	10x	as long as short
Pacifica HYPElong	+0.0100%	1h	93.424	long leg	$10.1M	$14.3M	20x
Binance HYPEUSDT	+0.0100%	4h	93.397	−0.029%	$390.5M	$870.2M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.343	−0.087%	$114.7M	$313.7M	50x	as long as short
Ondo Perps HYPE-USD.P	+0.0100%	1h	93.340	−0.090%	$700K	$947K	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.270	−0.165%	$204K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.392	−0.034%	$91.5M	$83.2M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.409	−0.016%	$46.5M	$19.6M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.413	−0.012%	$226.0M	$103.3M	75x	as long as short
BingX HYPE-USDTshort	+0.0100%	4h	93.386	−0.041%	—	$54.7M	—
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.434	+0.011%	$8.0M	$11.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.258	−0.177%	$28.9M	$49.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.427	+0.003%	$7.5M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.392	−0.034%	$458K	$968K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.388	−0.039%	$676K	$2.3M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.447	+0.025%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.445	+0.022%	$461K	$2.6M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	93.412	−0.013%	$112K	$572K	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.399	−0.027%	$76K	$172K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.376	−0.051%	$16.4M	$7.0M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.364	−0.064%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.392	−0.034%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.421	−0.003%	$12.7M	$2.5M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0102%	8h	93.447	+0.025%	$341K	$172K	20x	as long as short
edgeX HYPEUSDC	+0.0104%	4h	93.389	−0.038%	$5.1M	$29.2M	30x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.355	−0.074%	$18.1M	$40.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.415	−0.009%	$397K	$320K	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0151%	1h	93.450	+0.028%	$16.2M	$20.9M	50x	as long as short
Phoenix HYPE	+0.0172%	1h	93.400	−0.026%	$208K	$954K	10x	as long as short
Hyperliquid HYPE	+0.0175%	1h	93.475	+0.055%	$2.03B	$661.9M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0200%	1h	93.490	+0.071%	$4.9M	$5.6M	50x	as long as short
Reya HYPERUSDPERP	+0.0242%	1h	93.404	−0.021%	$77K	$157K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0274%	1h	93.488	+0.069%	$7.4M	$4.6M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0165%	1h	93.409	−0.016%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.391	−0.035%	$17.4M	$12.3M	75x	as long as short
HTX HYPE-USDT	+0.0410%	4h	93.530	+0.113%	$1.5M	$7.5M	75x	as long as short
RISEx HYPE/USDC	+0.0516%	1h	93.478	+0.058%	$2.7M	$6.4M	20x	as long as short