Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0232%/8h= −25.4% APRpaid last 24h −0.065%

Price spread now: Extended against BloFin−0.047%7-day average −0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$180.177% of the position

Long on BloFin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.444%−$44 on $10k

Price spread, last 3 days (all we have)+0.125%+$12 · spread now −0.047%, 7d avg −0.046%

Together, before fees−0.319%+ Points / potential airdropExtended: Active · farm board−$32 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.046%, so right now this pair is about funding alone: −$7 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin HYPE-USDT	93.252	0.0336	pay 0.0168% / 4h	1h 38m	$16.9M	$12.5M	75x
Short	Extended HYPE-USD	93.208	0.0104	get 0.0013% / 1h	38m 44s	$18.2M	$42.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against BloFin. 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 BloFinbpFee ExtendedbpOrdersPrice spread, now −0.047%Rate

Funding earned: −$48.69
Price spread: −0.047% → −0.046%: −$0.06
Slippage, 4 orders: −$0.69
Fee BloFin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$66.45
Costs to cover: 0.177%
Break-even: never at this rate

Slippage from BloFin: live order book, 5 min ago; Extended: 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 BloFin live order book, 5 min ago	0.11 bp	6.5 bp −$6	8.2 bp −$82	11.0 bp −$1,097	doesn't fit
Sell Extended live order book, 5 min ago	0.05 bp	2.6 bp −$3	3.5 bp −$35	23.6 bp −$2,358	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
Aftermath Perps HYPEUSD	−0.0364%	1h	93.237	−0.016%	$22K	$22K	10x	as long as short
Hibachi HYPE/USDT-P	−0.0160%	1h	93.305	+0.056%	$197K	$230K	7x	as long as short
Arcus HYPE-USD	−0.0131%	1h	93.193	−0.063%	$1.2M	$4.0M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.236	−0.017%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0074%	1h	93.130	−0.131%	$700K	$923K	10x	as long as short
01 Exchange HYPEUSD	−0.0008%	1h	93.246	−0.006%	$90K	$361K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.267	+0.016%	$127K	$32K	5x	as long as short
Popdex HYPEUSDT	0.0000%	1h	93.233	−0.020%	$58K	$1.2M	50x	as long as short
Perpl HYPE	0.0000%	43m	93.241	−0.012%	$23K	$331K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.277	+0.027%	$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	+0.0010%	4h	93.218	−0.036%	$8.9M	$35.9M	300x	as long as short
Derive HYPE-PERP	+0.0028%	1h	93.201	−0.055%	$16.3M	$7.1M	10x	as long as short
Bybit HYPEUSDT	+0.0029%	8h	93.210	−0.045%	$323.6M	$286.8M	75x	as long as short
Orderly PERP_HYPE_USDC	+0.0034%	4h	93.236	−0.017%	$171K	$519K	20x	as long as short
Phoenix HYPE	+0.0034%	1h	93.374	+0.131%	$214K	$1.2M	10x	as long as short
Bullet HYPE-USD	+0.0043%	1h	93.228	−0.026%	$112K	$578K	20x	as long as short
Gate HYPE_USDT	+0.0052%	4h	93.227	−0.027%	$43.9M	$57.9M	75x	as long as short
Binance HYPEUSDT	+0.0091%	4h	93.190	−0.067%	$383.1M	$892.2M	75x	as long as short
MEXC HYPE_USDT	+0.0094%	4h	93.177	−0.080%	$90.2M	$81.7M	100x	as long as short
Lighter HYPE	+0.0096%	1h	93.248	−0.004%	$18.5M	$58.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.211	−0.044%	$3.1M	$12.1M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.214	−0.041%	$339K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.240	−0.013%	$40K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.228	−0.025%	$5.9M	$44.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.260	+0.009%	$2.03B	$670.0M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.215	−0.040%	$10.0M	$14.3M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.199	−0.057%	$113.9M	$313.7M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.390	+0.148%	$204K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.247	−0.005%	$47.2M	$18.9M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.192	−0.064%	$225.9M	$102.8M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.228	−0.026%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.255	+0.003%	$7.9M	$11.2M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.354	+0.110%	$29.0M	$50.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.350	+0.105%	$7.5M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.355	+0.110%	$413K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.288	+0.039%	$675K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.293	+0.044%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.272	+0.021%	$493K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.239	−0.014%	$76K	$167K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.271	+0.020%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.228	−0.026%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.282	+0.032%	$12.7M	$2.6M	50x	as long as short
edgeX HYPEUSDC	+0.0103%	4h	93.338	+0.092%	$5.1M	$29.5M	30x	as long as short
Extended HYPE-USDshort	+0.0104%	1h	93.208	−0.047%	$18.2M	$42.0M	50x
Aevo HYPE-PERP	+0.0104%	1h	93.236	−0.017%	$397K	$318K	20x	as long as short
Kalshi KXHYPEPERP	+0.0109%	8h	93.371	+0.128%	$1.9M	$5.3M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.270	+0.019%	$4.9M	$5.7M	50x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	93.150	−0.109%	$30K	$338K	12x	as long as short
Reya HYPERUSDPERP	+0.0246%	1h	93.242	−0.010%	$78K	$158K	15x	as long as short
HTX HYPE-USDT	+0.0263%	4h	93.426	+0.187%	$1.5M	$7.7M	75x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.293	+0.045%	$2.8M	$6.8M	20x	as long as short
BloFin HYPE-USDTlong	+0.0336%	4h	93.252	long leg	$16.9M	$12.5M	75x
Deribit HYPE_USDC-PERPETUAL	+0.0340%	1h	93.333	+0.087%	$7.4M	$4.6M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0340% / S −0.0159%	1h	93.271	+0.021%	$1.5M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0465%	1h	93.355	+0.111%	$20.9M	$28.8M	50x	as long as short