Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.008%

Price spread now: MEXC against Aevo−0.064%7-day average +0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$350.354% of the position

Long on Aevo Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.024%−$2 on $10k

Price spread, last 4 days (all we have)+0.082%+$8 · spread now −0.064%, 7d avg +0.006%

Together, before fees+0.058%+$6 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: MEXC is 0.070% cheaper against Aevo than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo HYPE-PERP	93.470	0.0104	pay 0.0013% / 1h	36m 57s	$395K	$159K	20x
Short	MEXC HYPE_USDT	93.410	0.0100	get 0.0050% / 4h	1h 36m	$89.3M	$83.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Aevo. 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 AevobpFee MEXCbpOrdersPrice spread, now −0.064%Rate

Funding earned: −$0.84
Price spread: −0.064% → +0.006%: −$6.99
Slippage, 4 orders: −$15.39
Fee Aevo: 8 bp × 2 orders: −$16
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$43.22
Costs to cover: 0.354%
Break-even: never at this rate

Slippage from Aevo: live order book, 7 min ago; MEXC: live order book, 2 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 Aevo live order book, 7 min ago	5.59 bp	16.6 bp −$17	23.3 bp −$233	27.6 bp −$2,763	doesn't fit
Sell MEXC live order book, 2 min ago	0.05 bp	2.4 bp −$2	5.4 bp −$54	11.2 bp −$1,124	36.1 bp −$18.1K

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	−0.1056%	1h	93.361	−0.116%	$198K	$240K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0197%	1h	93.560	+0.097%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0111%	1h	93.390	−0.086%	$704K	$1.2M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.464	−0.006%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0063%	1h	93.480	+0.011%	$111K	$580K	20x	as long as short
01 Exchange HYPEUSD	−0.0056%	1h	93.515	+0.048%	$86K	$369K	20x	as long as short
Bluefin HYPE-PERP	−0.0027%	1h	93.472	+0.002%	$79K	$155K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0021%	4h	93.461	−0.010%	$145K	$685K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.447	−0.025%	$128K	$28K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.534	+0.068%	$1.8M	$5.6M	2.3x	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	93.480	+0.011%	$20K	$289K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.448	−0.024%	$83K	—	150x	as long as short
Bybit HYPEUSDT	+0.0002%	8h	93.380	−0.096%	$315.1M	$288.3M	75x	as long as short
BingX HYPE-USDT	+0.0002%	4h	93.393	−0.082%	—	$53.6M	—	as long as short
Derive HYPE-PERP	+0.0010%	1h	93.422	−0.051%	$16.2M	$7.4M	10x	as long as short
Phoenix HYPE	+0.0017%	1h	93.482	+0.013%	$209K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0042%	4h	93.400	−0.075%	$225.0M	$99.8M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0077%	8h	93.508	+0.040%	$334K	$161K	20x	as long as short
Arcus HYPE-USD	+0.0084%	1h	93.453	−0.018%	$1.0M	$4.0M	10x	as long as short
Phemex HYPEUSDT	+0.0086%	8h	93.459	−0.012%	$12.8M	$2.8M	50x	as long as short
edgeX HYPEUSDC	+0.0086%	4h	93.443	−0.029%	$5.0M	$30.5M	30x	as long as short
Lighter HYPE	+0.0096%	1h	93.444	−0.028%	$16.1M	$63.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.473	+0.003%	$3.1M	$11.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.476	+0.006%	$81K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.480	+0.011%	$22K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.475	+0.005%	$7.5M	$50.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.517	+0.050%	$2.05B	$680.6M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.435	−0.038%	$8.8M	$37.2M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.508	+0.041%	$10.1M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.406	−0.068%	$373.9M	$930.1M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.378	−0.098%	$115.4M	$315.0M	50x	as long as short
Gate HYPE_USDT	+0.0100%	4h	93.428	−0.045%	$48.4M	$55.2M	75x	as long as short
MEXC HYPE_USDTshort	+0.0100%	4h	93.410	−0.064%	$89.3M	$83.8M	100x
KuCoin HYPEUSDTM	+0.0100%	4h	93.417	−0.057%	$46.3M	$18.8M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.449	−0.023%	$7.2M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.479	+0.009%	$28.6M	$56.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.540	+0.075%	$7.5M	$48.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.577	+0.114%	$347K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.458	−0.013%	$677K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.530	+0.064%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.498	+0.030%	$469K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.533	+0.067%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.471	+0.001%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.615	+0.155%	$1.4M	$6.7M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.507	+0.040%	$216K	$15K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.367	−0.111%	$18.2M	$43.3M	50x	as long as short
Aevo HYPE-PERPlong	+0.0104%	1h	93.470	long leg	$395K	$159K	20x
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	93.460	−0.011%	$4.7M	$6.1M	50x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	93.430	−0.043%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0271%	1h	93.462	−0.009%	$77K	$129K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0295%	1h	93.567	+0.104%	$7.4M	$4.2M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0154%	1h	93.505	+0.037%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.480	+0.011%	$16.9M	$12.2M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0416%	1h	93.550	+0.085%	$20.9M	$29.6M	50x	as long as short
RISEx HYPE/USDC	+0.0559%	1h	93.514	+0.047%	$3.2M	$6.4M	20x	as long as short