Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.015%

Price spread now: StandX against Bluefin+0.008%50s7-day average +0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$430.431% of the position

Long on Bluefin Short on StandX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.116%+$12 on $10k

Price spread, last 4 days (all we have)+0.076%+$8 · spread now +0.008%, 7d avg +0.006%

Together, before fees+0.191%+ Points / potential airdropStandX: Active · farm board+$19 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bluefin HYPE-PERP	93.237	0.0100	pay 0.0013% / 1h	1m 29s	$79K	$167K	20x
Short	StandX HYPE-USD	93.244	0.0100	get 0.0013% / 1h	1m 29s	$666K	$2.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

StandX against Bluefin. 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 BluefinbpFee StandXbpOrdersPrice spread, now +0.008%Rate

Funding earned: $0
Price spread: +0.008% → +0.006%: $0.12
Slippage, 4 orders: −$28.13
Fee Bluefin: 3.5 bp × 2 orders: −$7
Fee StandX: 4 bp × 2 orders: −$8
Net: −$43.02
Costs to cover: 0.431%
Break-even: never at this rate

Slippage from Bluefin: live order book, 53 min ago; StandX: 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 Bluefin live order book, 53 min ago	5.54 bp	16.6 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell StandX live order book, 2 min ago	1.23 bp	5.2 bp −$5	5.3 bp −$53	11.6 bp −$1,163	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	−0.1880%	1h	93.444	+0.222%	$197K	$232K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0325%	1h	93.243	+0.006%	$22K	$21K	10x	as long as short
Arcus HYPE-USD	−0.0194%	1h	93.373	+0.146%	$1.0M	$3.9M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.316	+0.085%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0043%	4h	93.242	+0.005%	$146K	$669K	20x	as long as short
Bullet HYPE-USD	−0.0010%	1h	93.233	−0.004%	$111K	$578K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0008%	1h	93.330	+0.100%	$703K	$1.2M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.328	+0.098%	$128K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.277	+0.042%	$22K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.279	+0.046%	$62K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange HYPEUSD	+0.0016%	1h	93.440	+0.218%	$87K	$366K	20x	as long as short
Phemex HYPEUSDT	+0.0024%	8h	93.293	+0.060%	$12.6M	$2.7M	50x	as long as short
Bybit HYPEUSDT	+0.0025%	8h	93.420	+0.196%	$317.9M	$283.9M	75x	as long as short
Phoenix HYPE	+0.0026%	1h	93.446	+0.224%	$209K	$1.2M	10x	as long as short
Bitget HYPEUSDT	+0.0026%	4h	93.375	+0.148%	$226.0M	$99.0M	75x	as long as short
Popdex HYPEUSDT	+0.0064%	1h	93.410	+0.186%	$77K	$1.1M	50x	as long as short
Gate HYPE_USDT	+0.0064%	4h	93.384	+0.158%	$45.9M	$55.2M	75x	as long as short
edgeX HYPEUSDC	+0.0082%	4h	93.336	+0.106%	$5.0M	$29.9M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	93.371	+0.144%	$340K	$162K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.347	+0.118%	$16.0M	$63.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.329	+0.099%	$3.1M	$11.7M	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.400	+0.175%	$12K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.419	+0.196%	$7.5M	$47.5M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.345	+0.116%	$2.03B	$665.9M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.405	+0.180%	$8.7M	$36.4M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.369	+0.142%	$10.1M	$15.3M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.410	+0.185%	$374.7M	$909.3M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.438	+0.216%	$114.7M	$306.2M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.328	+0.098%	$203K	$3K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.387	+0.161%	$91.9M	$81.7M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.386	+0.160%	$46.1M	$18.6M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.373	+0.146%	—	$53.8M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.309	+0.077%	$7.3M	$11.1M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.319	+0.088%	$28.8M	$56.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.407	+0.182%	$7.5M	$47.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.335	+0.105%	$342K	$1.0M	50x	as long as short
StandX HYPE-USDshort	+0.0100%	1h	93.244	+0.008%	$666K	$2.9M	20x
Vest HYPE-PERP	+0.0100%	1h	93.441	+0.219%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.270	+0.035%	$489K	$2.7M	20x	as long as short
Bluefin HYPE-PERPlong	+0.0100%	1h	93.237	long leg	$79K	$167K	20x
Derive HYPE-PERP	+0.0100%	1h	93.233	−0.004%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.294	+0.061%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.260	+0.025%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.400	+0.175%	$1.4M	$6.3M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.375	+0.148%	$18.1M	$43.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.254	+0.019%	$394K	$164K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.340	+0.110%	$4.7M	$5.6M	50x	as long as short
Kalshi KXHYPEPERP	+0.0150%	8h	93.282	+0.048%	$1.8M	$5.5M	2.3x	as long as short
Kraken Futures PF_HYPEUSD	+0.0196%	1h	93.327	+0.097%	$20.7M	$29.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0242%	1h	93.360	+0.132%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0267%	1h	93.238	+0.001%	$80K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0154%	1h	93.266	+0.031%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.308	+0.076%	$16.8M	$11.9M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0404%	1h	93.351	+0.122%	$7.5M	$4.3M	50x	as long as short
RISEx HYPE/USDC	+0.0598%	1h	93.465	+0.244%	$3.2M	$6.3M	20x	as long as short