Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.060%

Price spread now: SoDEX against Arcus+0.030%7-day average +0.034% · 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−$21as in the Price arb table

costs, in and out, $10k−$210.209% of the position

Long on Arcus Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.071%+$7 on $10k

Price spread, last 3 days (all we have)−0.113%−$11 · spread now +0.030%, 7d avg +0.034%

Together, before fees−0.042%−$4 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus HYPE-USD	93.485	0.0100	pay 0.0013% / 1h	29m 19s	$1.2M	$4.0M	10x
Short	SoDEX HYPE-USD	93.513	0.0100	get 0.0013% / 1h	29m 19s	$2.0M	$2.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.030%Rate

Funding earned: $0
Price spread: +0.030% → +0.034%: −$0.38
Slippage, 4 orders: −$8.36
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$21.23
Costs to cover: 0.209%
Break-even: never at this rate

Slippage from Arcus: live order book, 5 min ago; SoDEX: live order book, 5 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, 5 min ago	0.69 bp	3.3 bp −$3	3.7 bp −$37	19.1 bp −$1,913	doesn't fit
Sell SoDEX live order book, 5 min ago	0.27 bp	7.0 bp −$7	13.3 bp −$133	104.4 bp −$10.4K	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	−0.1064%	1h	93.496	+0.011%	$197K	$233K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0276%	1h	93.537	+0.056%	$22K	$22K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0248%	1h	93.440	−0.048%	$701K	$939K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.562	+0.082%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0072%	1h	93.547	+0.066%	$89K	$347K	20x	as long as short
Bullet HYPE-USD	−0.0033%	1h	93.508	+0.025%	$112K	$583K	20x	as long as short
Derive HYPE-PERP	−0.0007%	1h	93.475	−0.011%	$16.4M	$7.1M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.563	+0.084%	$127K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.480	−0.005%	$23K	$337K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.552	+0.071%	$20K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0018%	4h	93.497	+0.013%	$8.9M	$35.8M	300x	as long as short
Gate HYPE_USDT	+0.0024%	4h	93.512	+0.029%	$44.1M	$56.6M	75x	as long as short
Bybit HYPEUSDT	+0.0037%	8h	93.504	+0.020%	$325.7M	$287.1M	75x	as long as short
Orderly PERP_HYPE_USDC	+0.0068%	4h	93.516	+0.033%	$175K	$535K	20x	as long as short
Phoenix HYPE	+0.0068%	1h	93.549	+0.068%	$216K	$1.2M	10x	as long as short
Popdex HYPEUSDT	+0.0072%	1h	93.513	+0.030%	$57K	$1.2M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.543	+0.062%	$18.5M	$59.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.522	+0.040%	$3.1M	$12.3M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0100%	8h	93.504	+0.021%	$340K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.550	+0.070%	$40K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.513	+0.029%	$6.0M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.606	+0.129%	$2.04B	$669.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.513	+0.030%	$10.0M	$14.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.513	+0.030%	$385.8M	$887.4M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.499	+0.015%	$114.9M	$315.1M	50x	as long as short
Arcus HYPE-USDlong	+0.0100%	1h	93.485	long leg	$1.2M	$4.0M	10x
MEXC HYPE_USDT	+0.0100%	4h	93.509	+0.026%	$93.5M	$82.2M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.534	+0.052%	$46.4M	$18.7M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.543	+0.062%	$227.2M	$102.2M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.508	+0.025%	—	$54.2M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.549	+0.068%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.541	+0.060%	$28.9M	$49.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.580	+0.102%	$7.5M	$45.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.558	+0.078%	$406K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.602	+0.125%	$677K	$2.4M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.555	+0.075%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.545	+0.064%	$494K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.530	+0.048%	$76K	$167K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.558	+0.078%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USDshort	+0.0100%	1h	93.513	+0.030%	$2.0M	$2.0M	10x
Phemex HYPEUSDT	+0.0100%	8h	93.546	+0.065%	$12.7M	$2.6M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.556	+0.076%	$204K	$12K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.502	+0.018%	$18.4M	$41.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.520	+0.038%	$398K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0116%	4h	93.544	+0.063%	$5.1M	$29.6M	30x	as long as short
Kalshi KXHYPEPERP	+0.0126%	8h	93.629	+0.154%	$1.9M	$5.3M	2.3x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0188%	1h	93.619	+0.143%	$7.4M	$4.6M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.600	+0.123%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0245%	1h	93.512	+0.029%	$78K	$158K	15x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.510	+0.027%	$30K	$291K	12x	as long as short
HTX HYPE-USDT	+0.0333%	4h	93.724	+0.256%	$1.5M	$7.6M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0164%	1h	93.554	+0.074%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.545	+0.064%	$17.1M	$12.5M	75x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.581	+0.103%	$2.7M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0573%	1h	93.631	+0.156%	$19.2M	$26.0M	50x	as long as short