Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0052%/8h= −5.7% APRpaid last 24h −0.005%

Price spread now: Binance against Vest−0.055%7-day average +0.009% · you buy dearer than you sell

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

Long on Vest Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.120%+$12 on $10k

Price spread, last 3 days (all we have)−0.053%−$5 · spread now −0.055%, 7d avg +0.009%

Together, before fees+0.067%+ Points / potential airdropVest: Active · farm board+$7 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 0.064% cheaper against Vest than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.009%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.120%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest HYPE-PERP	94.026	0.0100	pay 0.0013% / 1h	30m 22s	—	$243K	5x
Short	Binance HYPEUSDT	93.975	0.0048	get 0.0024% / 4h	3h 30m	$383.3M	$893.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Vest. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 VestbpFee BinancebpOrdersPrice spread, now −0.055%Rate

Funding earned: −$10.87
Price spread: −0.055% → +0.009%: −$6.37
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Binance: 5 bp × 2 orders: −$10
Net: −$29.24
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Vest: no order-book sample; Binance: live order book, 14 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 Vest no order-book sample	—	—	—	—	—
Sell Binance live order book, 14 min ago	0.05 bp	5.8 bp −$6	8.5 bp −$85	15.4 bp −$1,542	34.8 bp −$17.4K

Vest: 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	−0.1432%	1h	94.067	+0.043%	$199K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0625%	1h	93.928	−0.105%	$1.2M	$3.8M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0234%	1h	94.151	+0.133%	$22K	$23K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0160%	1h	93.990	−0.039%	$706K	$956K	10x	as long as short
dYdX HYPE-USD	−0.0153%	1h	94.048	+0.023%	$129K	$31K	5x	as long as short
Phemex HYPEUSDT	−0.0131%	8h	94.114	+0.093%	$12.8M	$2.6M	50x	as long as short
Bullet HYPE-USD	−0.0098%	1h	93.961	−0.070%	$112K	$580K	20x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	93.970	−0.060%	$85K	$361K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.037	+0.011%	$3K	$331	25x	as long as short
Bybit HYPEUSDT	−0.0025%	8h	93.960	−0.071%	$322.7M	$280.8M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_HYPE_USDC	−0.0017%	4h	93.950	−0.081%	$159K	$645K	20x	as long as short
Perpl HYPE	0.0000%	43m	94.035	+0.009%	$23K	$327K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	94.001	−0.027%	$27K	—	150x	as long as short
Gate HYPE_USDT	+0.0006%	4h	93.961	−0.070%	$44.5M	$59.7M	75x	as long as short
Aster HYPEUSDT	+0.0019%	4h	93.997	−0.032%	$8.9M	$36.1M	300x	as long as short
Phoenix HYPE	+0.0034%	1h	94.342	+0.336%	$219K	$1.2M	10x	as long as short
MEXC HYPE_USDT	+0.0048%	4h	93.971	−0.059%	$89.2M	$82.6M	100x	as long as short
Binance HYPEUSDTshort	+0.0048%	4h	93.975	−0.055%	$383.3M	$893.3M	75x
Derive HYPE-PERP	+0.0056%	1h	93.935	−0.097%	$16.4M	$7.3M	10x	as long as short
edgeX HYPEUSDC	+0.0061%	4h	94.240	+0.227%	$5.1M	$29.9M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0080%	8h	93.975	−0.055%	$116.0M	$318.1M	50x	as long as short
Lighter HYPE	+0.0096%	1h	94.075	+0.051%	$19.0M	$59.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.094	+0.072%	$3.0M	$12.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.959	−0.072%	$66K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.963	−0.067%	$400K	$188K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	94.061	+0.037%	$342K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.050	+0.025%	$26K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.951	−0.080%	$6.6M	$44.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.085	+0.062%	$2.05B	$677.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.061	+0.037%	$10.2M	$14.6M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.983	−0.046%	$46.5M	$18.1M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.984	−0.045%	$227.9M	$100.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.968	−0.062%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.079	+0.056%	$7.7M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.030	+0.004%	$31.5M	$54.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.271	+0.260%	$7.6M	$45.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.209	+0.194%	$341K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.018	−0.009%	$680K	$2.6M	20x	as long as short
Vest HYPE-PERPlong	+0.0100%	1h	94.026	long leg	—	$243K	5x
Polymarket Perps HYPE-USD	+0.0100%	1h	93.984	−0.045%	$480K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.963	−0.067%	$76K	$171K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.052	+0.027%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.975	−0.055%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.120	+0.100%	$205K	$4K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.962	−0.069%	$18.8M	$44.5M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	94.210	+0.195%	$4.9M	$5.5M	50x	as long as short
BloFin HYPE-USDT	+0.0193%	4h	94.099	+0.077%	$17.0M	$12.2M	75x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	88.460	−5.920%	$29K	$338K	12x	as long as short
Kalshi KXHYPEPERP	+0.0219%	8h	94.162	+0.144%	$1.9M	$5.1M	2.3x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	94.001	−0.026%	$2.8M	$6.7M	20x	as long as short
Reya HYPERUSDPERP	+0.0251%	1h	93.952	−0.080%	$79K	$146K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0333% / S −0.0152%	1h	93.999	−0.029%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0409%	1h	94.076	+0.053%	$7.5M	$4.7M	50x	as long as short
HTX HYPE-USDT	+0.0428%	4h	94.230	+0.217%	$1.5M	$6.3M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0671%	1h	94.076	+0.053%	$21.0M	$29.7M	50x	as long as short