Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0273%/8h= +29.9% APRpaid last 24h +0.085%

Price spread now: BloFin against 01 Exchange+0.137%7-day average −0.024% · 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−$12as in the Price arb table

costs, in and out, $10k−$280.279% of the position

Long on 01 Exchange Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.275%+$28 on $10k

Price spread, last 3 days (all we have)−0.246%−$25 · spread now +0.137%, 7d avg −0.024%

Together, before fees+0.029%+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and BloFin is 0.161% dearer against 01 Exchange than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of −0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange HYPEUSD	93.970	−0.0080	get 0.0010% / 1h	30m 34s	$85K	$361K	20x
Short	BloFin HYPE-USDT	94.099	0.0193	get 0.0096% / 4h	3h 30m	$17.0M	$12.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.137%Rate

Funding earned: $57.32
Price spread: +0.137% → −0.024%: $16.08
Slippage, 4 orders: −$8.88
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: $45.52
Costs to cover: 0.279%
Break-even: 1.4 days

Slippage from 01 Exchange: live order book, 44 min ago; BloFin: 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 01 Exchange live order book, 44 min ago	0.16 bp	6.9 bp −$7	11.0 bp −$110	doesn't fit	doesn't fit
Sell BloFin live order book, 3 min ago	0.95 bp	7.2 bp −$7	8.7 bp −$87	14.4 bp −$1,436	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	−0.1432%	1h	94.067	+0.103%	$199K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0625%	1h	93.928	−0.045%	$1.2M	$3.8M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0241%	1h	94.169	+0.211%	$22K	$23K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0160%	1h	93.990	+0.021%	$706K	$956K	10x	as long as short
dYdX HYPE-USD	−0.0153%	1h	94.048	+0.083%	$129K	$31K	5x	as long as short
Phemex HYPEUSDT	−0.0131%	8h	94.114	+0.153%	$12.8M	$2.6M	50x	as long as short
Bullet HYPE-USD	−0.0097%	1h	94.060	+0.096%	$112K	$580K	20x	as long as short
01 Exchange HYPEUSDlong	−0.0080%	1h	93.970	long leg	$85K	$361K	20x
Hotstuff HYPE-PERP	−0.0080%	1h	94.037	+0.071%	$3K	$331	25x	as long as short
Bybit HYPEUSDT	−0.0025%	8h	93.943	−0.029%	$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	−0.0016%	4h	94.040	+0.074%	$159K	$648K	20x	as long as short
Perpl HYPE	0.0000%	43m	94.097	+0.135%	$23K	$327K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	94.099	+0.137%	$27K	—	150x	as long as short
Gate HYPE_USDT	+0.0006%	4h	94.027	+0.061%	$44.5M	$59.7M	75x	as long as short
Aster HYPEUSDT	+0.0019%	4h	94.052	+0.087%	$8.9M	$36.1M	300x	as long as short
Phoenix HYPE	+0.0034%	1h	94.342	+0.396%	$219K	$1.2M	10x	as long as short
MEXC HYPE_USDT	+0.0048%	4h	94.042	+0.077%	$89.3M	$82.6M	100x	as long as short
Binance HYPEUSDT	+0.0048%	4h	93.972	+0.002%	$383.3M	$893.0M	75x	as long as short
Derive HYPE-PERP	+0.0056%	1h	94.025	+0.059%	$16.4M	$7.3M	10x	as long as short
edgeX HYPEUSDC	+0.0061%	4h	94.240	+0.287%	$5.1M	$29.9M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0080%	8h	93.952	−0.019%	$116.0M	$318.0M	50x	as long as short
Lighter HYPE	+0.0096%	1h	94.075	+0.111%	$19.0M	$59.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.094	+0.132%	$3.0M	$12.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.959	−0.012%	$66K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	94.065	+0.102%	$400K	$188K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	94.061	+0.097%	$342K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.050	+0.085%	$26K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.951	−0.020%	$6.6M	$44.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.170	+0.213%	$2.05B	$677.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.061	+0.097%	$10.2M	$14.6M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.077	+0.114%	$46.6M	$18.1M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.968	−0.002%	$227.9M	$100.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.019	+0.052%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.079	+0.116%	$7.7M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.030	+0.064%	$31.5M	$54.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.271	+0.320%	$7.6M	$45.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.209	+0.254%	$341K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.018	+0.051%	$680K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.026	+0.060%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.984	+0.015%	$480K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	94.058	+0.094%	$76K	$171K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.176	+0.219%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.061	+0.097%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.120	+0.160%	$205K	$4K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.001	+0.033%	$18.8M	$44.5M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	94.210	+0.255%	$4.9M	$5.5M	50x	as long as short
BloFin HYPE-USDTshort	+0.0193%	4h	94.099	+0.137%	$17.0M	$12.2M	75x
Injective HYPE/USDC PERP	+0.0205%	1h	88.460	−5.864%	$29K	$338K	12x	as long as short
Kalshi KXHYPEPERP	+0.0219%	8h	94.162	+0.204%	$1.9M	$5.1M	2.3x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	94.001	+0.034%	$2.8M	$6.7M	20x	as long as short
Reya HYPERUSDPERP	+0.0251%	1h	93.952	−0.020%	$79K	$146K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0333% / S −0.0152%	1h	94.105	+0.143%	$1.5M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0409%	1h	94.155	+0.197%	$7.5M	$4.7M	50x	as long as short
HTX HYPE-USDT	+0.0428%	4h	94.230	+0.277%	$1.5M	$6.3M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0671%	1h	94.172	+0.215%	$21.0M	$29.7M	50x	as long as short