Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.014%

Price spread now: Bitget against SunX+0.019%7-day average −0.085% · you sell dearer than you buy

Net, funding: paid 7d − costs−$84as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$760.757% of the position

Long on SunX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.084%−$8 on $10k

Price spread, last 3 days (all we have)−0.109%−$11 · spread now +0.019%, 7d avg −0.085%

Together, before fees−0.194%−$19 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: Bitget is 0.104% dearer against SunX than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of −0.085%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX HYPE-USDT	94.056	0.0100	pay 0.0050% / 4h	51m 31s	$32K	$1.6M	20x
Short	Bitget HYPEUSDT	94.074	0.0100	get 0.0050% / 4h	51m 31s	$228.0M	$102.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against SunX. 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 SunXbpFee BitgetbpOrdersPrice spread, now +0.019%Rate

Funding earned: $0
Price spread: +0.019% → −0.085%: $10.37
Slippage, 4 orders: −$55.74
Fee SunX: 4 bp × 2 orders: −$8
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$65.37
Costs to cover: 0.757%
Break-even: never at this rate

Slippage from SunX: live order book, 3 min ago; Bitget: live order book, 3 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 SunX live order book, 3 min ago	19.37 bp	24.1 bp −$24	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	0.05 bp	8.3 bp −$8	12.6 bp −$126	doesn't fit	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	−0.0552%	1h	93.903	−0.163%	$199K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0474%	1h	93.863	−0.205%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	93.998	−0.062%	$1.2M	$3.8M	10x	as long as short
ApeX Omni HYPEUSDT	−0.0160%	1h	93.896	−0.170%	$349K	$1.1M	50x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.094	+0.040%	$3K	$331	25x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.092	+0.039%	$128K	$30K	5x	as long as short
Perpl HYPE	0.0000%	43m	94.058	+0.002%	$23K	$329K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	94.048	−0.009%	$27K	—	150x	as long as short
Phoenix HYPE	+0.0009%	1h	94.035	−0.022%	$215K	$1.2M	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0014%	4h	94.059	+0.003%	$176K	$526K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit HYPEUSDT	+0.0021%	8h	94.058	+0.002%	$324.7M	$281.2M	75x	as long as short
Aster HYPEUSDT	+0.0035%	4h	94.098	+0.045%	$8.9M	$35.8M	300x	as long as short
Ondo Perps HYPE-USD.P	+0.0036%	1h	94.020	−0.038%	$704K	$908K	10x	as long as short
Phemex HYPEUSDT	+0.0070%	8h	93.985	−0.075%	$12.8M	$2.6M	50x	as long as short
Gate HYPE_USDT	+0.0072%	4h	94.074	+0.019%	$44.5M	$57.9M	75x	as long as short
edgeX HYPEUSDC	+0.0073%	4h	93.924	−0.140%	$5.1M	$29.7M	30x	as long as short
MEXC HYPE_USDT	+0.0074%	4h	94.110	+0.057%	$89.6M	$80.9M	100x	as long as short
Binance HYPEUSDT	+0.0076%	4h	94.095	+0.041%	$386.6M	$888.3M	75x	as long as short
Derive HYPE-PERP	+0.0082%	1h	93.978	−0.083%	$16.5M	$6.9M	10x	as long as short
01 Exchange HYPEUSD	+0.0088%	1h	94.123	+0.071%	$86K	$364K	20x	as long as short
Lighter HYPE	+0.0096%	1h	94.147	+0.097%	$19.1M	$59.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.129	+0.078%	$3.1M	$12.2M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.111	+0.058%	$64K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	94.063	+0.008%	$400K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	94.106	+0.053%	$342K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.100	+0.047%	$29K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.050	−0.006%	$5.9M	$44.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.111	+0.059%	$10.2M	$14.5M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	94.065	+0.010%	$116.0M	$317.5M	50x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.114	+0.062%	$47.3M	$18.4M	75x	as long as short
Bitget HYPEUSDTshort	+0.0100%	4h	94.074	+0.019%	$228.0M	$102.7M	75x
BingX HYPE-USDT	+0.0100%	4h	94.062	+0.006%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.087	+0.033%	$7.9M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.882	−0.185%	$32.1M	$53.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.938	−0.126%	$7.6M	$45.5M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.059	+0.003%	$680K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.082	+0.028%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.072	+0.017%	$485K	$2.5M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	94.021	−0.037%	$113K	$578K	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	94.031	−0.027%	$76K	$166K	20x	as long as short
SunX HYPE-USDTlong	+0.0100%	4h	94.056	long leg	$32K	$1.6M	20x
SoDEX HYPE-USD	+0.0100%	1h	94.052	−0.004%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.680	−0.400%	$205K	$7K	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.170	+0.121%	$31K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.053	−0.003%	$18.7M	$42.1M	50x	as long as short
Kalshi KXHYPEPERP	+0.0124%	8h	94.122	+0.070%	$1.9M	$5.0M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	94.110	+0.057%	$4.9M	$5.7M	50x	as long as short
HTX HYPE-USDT	+0.0226%	4h	94.235	+0.190%	$1.5M	$7.7M	75x	as long as short
Reya HYPERUSDPERP	+0.0248%	1h	94.033	−0.025%	$77K	$142K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0281%	1h	94.144	+0.094%	$7.4M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	94.143	+0.092%	$2.8M	$6.8M	20x	as long as short
BloFin HYPE-USDT	+0.0293%	4h	94.084	+0.030%	$17.0M	$12.4M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0340% / S −0.0165%	1h	94.031	−0.027%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0576%	1h	94.165	+0.116%	$21.1M	$29.0M	50x	as long as short
Hyperliquid HYPE	+0.0752%	1h	94.182	+0.134%	$2.05B	$666.2M	10x	as long as short