Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0056%/8h= −6.2% APRpaid last 24h −0.007%

Price spread now: Binance against Variational Omni−0.013%7-day average +0.036% · you buy dearer than you sell

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

Long on Variational Omni Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.002%$0 on $10k

Price spread, last 7 days+0.038%+$4 · spread now −0.013%, 7d avg +0.036%

Together, before fees+0.036%+ Points / potential airdropVariational Omni: Active · farm board+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Binance is 0.049% cheaper against Variational Omni than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.036%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni HYPE	93.972	0.0100	pay 0.0100% / 8h	7h 57m	$31.4M	$54.2M	—
Short	Binance HYPEUSDT	93.960	0.0044	get 0.0022% / 4h	3h 57m	$383.8M	$899.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Variational Omni. 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 Variational OmnibpFee BinancebpOrdersPrice spread, now −0.013%Rate

Funding earned: −$11.83
Price spread: −0.013% → +0.036%: −$4.91
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: −$26.74
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Binance: live order book, 16 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 Variational Omni RFQ quote, 1 min ago	0.42 bp	doesn't fit	0.4 bp −$4	6.8 bp −$676	doesn't fit
Sell Binance live order book, 16 min ago	0.05 bp	6.4 bp −$6	7.3 bp −$73	13.7 bp −$1,370	29.3 bp −$14.6K

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	−0.1416%	1h	93.956	−0.017%	$199K	$229K	7x	as long as short
dYdX HYPE-USD	−0.0717%	1h	93.909	−0.068%	$128K	$30K	5x	as long as short
Arcus HYPE-USD	−0.0625%	1h	93.855	−0.125%	$1.2M	$3.8M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0330%	1h	93.987	+0.016%	$22K	$22K	10x	as long as short
Bybit HYPEUSDT	−0.0152%	8h	93.920	−0.056%	$323.2M	$283.7M	75x	as long as short
01 Exchange HYPEUSD	−0.0120%	1h	93.967	−0.006%	$86K	$367K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0087%	1h	93.810	−0.173%	$705K	$923K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.955	−0.018%	$3K	$331	25x	as long as short
Derive HYPE-PERP	−0.0017%	1h	93.918	−0.058%	$16.4M	$7.2M	10x	as long as short
Orderly PERP_HYPE_USDC	−0.0008%	4h	93.966	−0.007%	$169K	$594K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	93.955	−0.018%	$23K	$329K	10x	as long as short
Bullet HYPE-USD	+0.0001%	1h	93.982	+0.010%	$112K	$579K	20x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	94.014	+0.044%	$27K	—	150x	as long as short
Phoenix HYPE	+0.0009%	1h	94.114	+0.151%	$218K	$1.2M	10x	as long as short
Aster HYPEUSDT	+0.0015%	4h	93.953	−0.021%	$8.9M	$36.2M	300x	as long as short
Popdex HYPEUSDT	+0.0016%	1h	93.967	−0.006%	$60K	$1.2M	50x	as long as short
Binance HYPEUSDTshort	+0.0044%	4h	93.960	−0.013%	$383.8M	$899.0M	75x
MEXC HYPE_USDT	+0.0046%	4h	93.961	−0.012%	$88.1M	$81.8M	100x	as long as short
edgeX HYPEUSDC	+0.0053%	4h	93.991	+0.020%	$5.1M	$29.7M	30x	as long as short
Phemex HYPEUSDT	+0.0056%	8h	94.006	+0.036%	$12.8M	$2.6M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0086%	8h	93.929	−0.046%	$116.0M	$322.5M	50x	as long as short
Lighter HYPE	+0.0096%	1h	94.032	+0.064%	$18.9M	$58.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.004	+0.034%	$3.1M	$12.0M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	94.019	+0.050%	$400K	$206K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	94.001	+0.031%	$341K	$171K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.040	+0.072%	$42K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.969	−0.003%	$6.6M	$44.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.070	+0.104%	$2.05B	$680.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.975	+0.003%	$10.1M	$14.6M	20x	as long as short
Gate HYPE_USDT	+0.0100%	4h	93.954	−0.019%	$44.3M	$58.4M	75x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.982	+0.010%	$46.5M	$18.5M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.968	−0.005%	$227.7M	$101.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.963	−0.010%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.007	+0.037%	$7.7M	$10.5M	20x	as long as short
Variational Omni HYPElong	+0.0100%	8h	93.972	long leg	$31.4M	$54.2M	—
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.052	+0.085%	$7.6M	$45.4M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.033	+0.065%	$340K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.016	+0.046%	$680K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.997	+0.026%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.990	+0.019%	$472K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.981	+0.009%	$76K	$171K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.035	+0.067%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.968	−0.005%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.944	−0.031%	$205K	$6K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.940	−0.034%	$18.4M	$42.6M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.960	−0.013%	$4.9M	$5.7M	50x	as long as short
Kalshi KXHYPEPERP	+0.0163%	8h	93.993	+0.022%	$1.9M	$5.0M	2.3x	as long as short
BloFin HYPE-USDT	+0.0188%	4h	93.972	0.000%	$17.0M	$12.6M	75x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	93.990	+0.019%	$31K	$338K	12x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	94.006	+0.035%	$2.8M	$6.9M	20x	as long as short
HTX HYPE-USDT	+0.0228%	4h	94.085	+0.120%	$1.5M	$7.8M	75x	as long as short
Reya HYPERUSDPERP	+0.0250%	1h	93.957	−0.017%	$77K	$142K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0157%	1h	94.011	+0.041%	$1.5M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0377%	1h	94.083	+0.118%	$7.5M	$4.7M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0671%	1h	94.070	+0.104%	$21.0M	$29.5M	50x	as long as short