Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0426%/8h= +46.7% APRpaid last 24h +0.085%

Price spread now: HTX against Arcus+0.241%7-day average +0.078% · 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−$9as in the Price arb table

costs, in and out, $10k−$260.257% of the position

Long on Arcus Short on HTX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.109%+$11 on $10k

Price spread, last 3 days (all we have)−0.288%−$29 · spread now +0.241%, 7d avg +0.078%

Together, before fees−0.179%−$18 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and HTX is 0.163% dearer against Arcus than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of +0.078%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.109% in total (about 11.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus HYPE-USD	93.874	−0.0233	get 0.0029% / 1h	1m 25s	$1.2M	$3.8M	10x
Short	HTX HYPE-USDT	94.100	0.0194	get 0.0097% / 4h	1m 25s	$1.5M	$7.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Arcus. 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 ArcusbpFee HTXbpOrdersPrice spread, now +0.241%Rate

Funding earned: $89.55
Price spread: +0.241% → +0.078%: $16.3
Slippage, 4 orders: −$9.24
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee HTX: 6 bp × 2 orders: −$12
Net: $80.11
Costs to cover: 0.257%
Break-even: 0.7 days

Slippage from Arcus: live order book, 3 min ago; HTX: 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 Arcus live order book, 3 min ago	0.05 bp	4.6 bp −$5	10.2 bp −$102	27.0 bp −$2,695	doesn't fit
Sell HTX live order book, 3 min ago	0.90 bp	9.6 bp −$10	15.0 bp −$150	42.9 bp −$4,289	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	−0.1400%	1h	93.873	−0.001%	$199K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0343%	1h	93.963	+0.095%	$22K	$22K	10x	as long as short
Arcus HYPE-USDlong	−0.0233%	1h	93.874	long leg	$1.2M	$3.8M	10x
Ondo Perps HYPE-USD.P	−0.0133%	1h	93.930	+0.060%	$705K	$925K	10x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	94.013	+0.148%	$86K	$368K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.983	+0.116%	$3K	$331	25x	as long as short
Derive HYPE-PERP	−0.0012%	1h	93.900	+0.028%	$16.4M	$7.2M	10x	as long as short
dYdX HYPE-USD	−0.0007%	1h	93.976	+0.108%	$128K	$30K	5x	as long as short
Orderly PERP_HYPE_USDC	−0.0006%	4h	93.984	+0.117%	$169K	$594K	20x	as long as short
Perpl HYPE	0.0000%	43m	94.002	+0.137%	$23K	$329K	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 −0.0003%	1h	93.990	+0.124%	$27K	—	150x	as long as short
Phoenix HYPE	+0.0009%	1h	93.898	+0.026%	$217K	$1.2M	10x	as long as short
Aster HYPEUSDT	+0.0015%	4h	93.993	+0.127%	$8.9M	$36.1M	300x	as long as short
Bybit HYPEUSDT	+0.0017%	8h	94.010	+0.145%	$323.6M	$283.9M	75x	as long as short
Phemex HYPEUSDT	+0.0030%	8h	93.928	+0.058%	$12.8M	$2.6M	50x	as long as short
Binance HYPEUSDT	+0.0046%	4h	94.014	+0.149%	$384.3M	$898.4M	75x	as long as short
MEXC HYPE_USDT	+0.0046%	4h	94.038	+0.175%	$88.5M	$82.3M	100x	as long as short
edgeX HYPEUSDC	+0.0057%	4h	94.017	+0.152%	$5.1M	$29.7M	30x	as long as short
Popdex HYPEUSDT	+0.0064%	1h	94.015	+0.150%	$60K	$1.2M	50x	as long as short
Gate HYPE_USDT	+0.0068%	4h	93.993	+0.127%	$44.2M	$60.1M	75x	as long as short
Bullet HYPE-USD	+0.0072%	1h	94.038	+0.175%	$112K	$578K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0088%	8h	94.029	+0.165%	$116.0M	$323.0M	50x	as long as short
Lighter HYPE	+0.0096%	1h	94.036	+0.172%	$18.9M	$60.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.015	+0.150%	$3.1M	$12.3M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.967	+0.099%	$400K	$318K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	94.040	+0.177%	$42K	$1.6M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	94.030	+0.166%	$342K	$171K	20x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.014	+0.150%	$6.6M	$44.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.139	+0.282%	$2.05B	$680.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.017	+0.152%	$10.1M	$14.5M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.889	+0.016%	$205K	$7K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.991	+0.125%	$46.5M	$18.6M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	94.036	+0.173%	$227.8M	$102.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.980	+0.113%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.001	+0.135%	$7.9M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.812	−0.066%	$31.3M	$54.2M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.864	−0.011%	$7.6M	$45.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.055	+0.193%	$340K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.964	+0.096%	$679K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.052	+0.189%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.062	+0.200%	$472K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.963	+0.095%	$76K	$171K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.973	+0.105%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.967	+0.099%	$2.0M	$2.0M	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.410	+0.571%	$31K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.976	+0.109%	$18.4M	$42.8M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	94.070	+0.209%	$4.9M	$5.7M	50x	as long as short
Kalshi KXHYPEPERP	+0.0157%	8h	94.054	+0.192%	$1.9M	$5.1M	2.3x	as long as short
BloFin HYPE-USDT	+0.0185%	4h	93.999	+0.133%	$17.0M	$12.6M	75x	as long as short
HTX HYPE-USDTshort	+0.0194%	4h	94.100	+0.241%	$1.5M	$7.8M	75x
Reya HYPERUSDPERP	+0.0250%	1h	94.030	+0.166%	$77K	$142K	15x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	94.041	+0.178%	$2.8M	$6.9M	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0324%	1h	94.067	+0.206%	$7.5M	$4.6M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0156%	1h	93.993	+0.127%	$1.5M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0577%	1h	94.082	+0.222%	$21.0M	$29.5M	50x	as long as short