HYPER arbitrage explained
Right now Hyperlane (HYPER) trades on 9 venues we scan: 9 perpetual markets, 6 spot markets and 0 DEX pools. The lowest ask is on Bitget perp at $0.0687 and the highest bid on KuCoin spot at $0.0692.
The widest HYPER perpetual spread is between Bitget and Binance: long HYPER on Bitget at $0.0687 and short on Binance at $0.0687 for 0.00% gross, or -0.16% after the 0.16% two-leg fee model. No transfer is needed: both positions stay on their exchanges until the prices converge. The funding difference on this pair is -0.029% per day, which the position pays while it is open.
For a spot–perpetual (cash-and-carry) trade, the best HYPER route is to buy spot on Bybit and short the perpetual on Binance: -0.22% gross, -0.42% net, with +0.001% a day of funding on the short leg.
Spot–spot HYPER arbitrage (buy on Bybit, withdraw, deposit and sell on KuCoin) shows +0.46% gross right now. It only works if withdrawals on the buying exchange and deposits on the selling exchange are open, so check the D/W dots before moving coins.
Small HYPER gaps usually disappear after fees, slippage and funding. Look at the Net column, the executable Depth and the spread history before trading: a gap that has been open for days is a different trade from a one-minute spike.
Related: HYPER funding rates · HYPER spread charts · Hyperlane price · arbitrage scanner for all coins.