Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0158%/8h= +17.3% APRpaid last 24h +0.020%

Price spread now: BingX against 01 Exchange+0.040%7-day average −0.038% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$260.259% of the position

Long on 01 Exchange Short on BingX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.026%−$3 on $10k

Price spread, last 4 days (all we have)−0.061%−$6 · spread now +0.040%, 7d avg −0.038%

Together, before fees−0.087%−$9 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 0.078% dearer against 01 Exchange than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.038%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange HYPEUSD	92.222	−0.0128	get 0.0016% / 1h	42m 05s	$85K	$355K	20x
Short	BingX HYPE-USDT	92.259	0.0030	get 0.0015% / 4h	42m 05s	—	$53.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against 01 Exchange. 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 01 ExchangebpFee BingXbpOrdersPrice spread, now +0.040%Rate

Funding earned: $33.18
Price spread: +0.040% → −0.038%: $7.77
Slippage, 4 orders: −$8.9
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee BingX: 5 bp × 2 orders: −$10
Net: $15.05
Costs to cover: 0.259%
Break-even: 3.8 days

Slippage from 01 Exchange: live order book, 17 min ago; BingX: live order book, 12 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 01 Exchange live order book, 17 min ago	0.05 bp	8.0 bp −$8	17.0 bp −$170	doesn't fit	doesn't fit
Sell BingX live order book, 12 min ago	0.32 bp	5.3 bp −$5	7.2 bp −$72	11.5 bp −$1,146	15.8 bp −$7,916

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
Arcus HYPE-USD	−0.0948%	1h	92.192	−0.033%	$1.2M	$3.8M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0520%	1h	92.314	+0.100%	$193K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0165%	1h	92.313	+0.098%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSDlong	−0.0128%	1h	92.222	long leg	$85K	$355K	20x
Hotstuff HYPE-PERP	−0.0080%	1h	92.205	−0.018%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0070%	4h	92.195	−0.029%	$157K	$663K	20x	as long as short
Bullet HYPE-USD	−0.0059%	1h	92.203	−0.021%	$110K	$579K	20x	as long as short
Aster HYPEUSDT	−0.0005%	4h	92.232	+0.011%	$8.7M	$36.4M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.232	+0.010%	$126K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.214	−0.009%	$22K	$310K	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	92.231	+0.010%	$61K	—	150x	as long as short
Ondo Perps HYPE-USD.P	+0.0026%	1h	92.180	−0.046%	$696K	$1.1M	10x	as long as short
BingX HYPE-USDTshort	+0.0030%	4h	92.259	+0.040%	—	$53.3M	—
Phoenix HYPE	+0.0043%	1h	92.246	+0.026%	$209K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0050%	8h	92.227	+0.005%	$315.4M	$281.1M	75x	as long as short
Gate HYPE_USDT	+0.0056%	4h	92.234	+0.013%	$44.2M	$54.9M	75x	as long as short
Derive HYPE-PERP	+0.0070%	1h	92.190	−0.035%	$16.0M	$7.5M	10x	as long as short
Phemex HYPEUSDT	+0.0074%	8h	92.240	+0.020%	$12.5M	$2.7M	50x	as long as short
MEXC HYPE_USDT	+0.0076%	4h	92.255	+0.036%	$87.1M	$80.5M	100x	as long as short
OKX HYPE-USDT-SWAP	+0.0077%	8h	92.258	+0.039%	$112.8M	$301.8M	50x	as long as short
edgeX HYPEUSDC	+0.0078%	4h	92.205	−0.019%	$4.9M	$29.5M	30x	as long as short
Binance HYPEUSDT	+0.0080%	4h	92.253	+0.034%	$369.8M	$899.4M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0091%	8h	92.261	+0.042%	$338K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.249	+0.029%	$16.0M	$62.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.244	+0.024%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.216	−0.007%	$68K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.200	−0.024%	$31K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.188	−0.037%	$6.0M	$43.3M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.300	+0.084%	$2.01B	$665.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.249	+0.030%	$10.0M	$15.0M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.245	+0.025%	$201K	$13K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.245	+0.025%	$45.8M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.255	+0.036%	$223.7M	$98.4M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.237	+0.016%	$7.3M	$10.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.158	−0.069%	$28.3M	$57.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.209	−0.014%	$7.5M	$45.9M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.186	−0.039%	$337K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.325	+0.112%	$663K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.272	+0.054%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.228	+0.007%	$474K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.218	−0.004%	$78K	$169K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.252	+0.033%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.230	+0.009%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.368	+0.158%	$1.4M	$6.2M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.206	−0.018%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.221	−0.002%	$390K	$164K	20x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	93.000	+0.844%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.230	+0.009%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0257%	8h	92.242	+0.022%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0261%	1h	92.201	−0.023%	$79K	$138K	15x	as long as short
BloFin HYPE-USDT	+0.0304%	4h	92.211	−0.012%	$16.7M	$11.5M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0154%	1h	92.234	+0.013%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0333%	1h	92.295	+0.079%	$20.5M	$30.4M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0552%	1h	92.324	+0.111%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.286	+0.070%	$3.1M	$6.4M	20x	as long as short