Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0188%/8h= +20.6% APRpaid last 24h +0.069%

Price spread now: HTX against dYdX+0.034%7-day average +0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$340.343% of the position

Long on dYdX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.185%+$18 on $10k

Price spread, last 4 days (all we have)−0.426%−$43 · spread now +0.034%, 7d avg +0.041%

Together, before fees−0.241%−$24 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.041%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX HYPE-USD	93.560	0	get 0.0000% / 1h	31m 47s	$128K	$31K	5x
Short	HTX HYPE-USDT	93.592	0.0188	get 0.0094% / 4h	1h 31m	$1.4M	$6.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against dYdX. 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 dYdXbpFee HTXbpOrdersPrice spread, now +0.034%Rate

Funding earned: $39.41
Price spread: +0.034% → +0.041%: −$0.62
Slippage, 4 orders: −$12.3
Fee dYdX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: $4.5
Costs to cover: 0.343%
Break-even: 6.2 days

Slippage from dYdX: live order book, 32 min ago; HTX: 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 dYdX live order book, 32 min ago	1.65 bp	6.7 bp −$7	18.2 bp −$182	211.8 bp −$21.2K	1354.7 bp −$677.4K
Sell HTX live order book, 2 min ago	0.05 bp	9.8 bp −$10	14.1 bp −$141	51.8 bp −$5,181	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	−0.1296%	1h	93.403	−0.168%	$196K	$226K	7x	as long as short
Arcus HYPE-USD	−0.0899%	1h	93.353	−0.221%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0104%	1h	93.320	−0.256%	$699K	$996K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.479	−0.086%	$3K	$331	25x	as long as short
Phemex HYPEUSDT	−0.0065%	8h	93.401	−0.170%	$12.6M	$2.7M	50x	as long as short
Aftermath Perps HYPEUSD	−0.0064%	1h	93.426	−0.143%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0056%	1h	93.484	−0.081%	$85K	$344K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0042%	4h	93.423	−0.146%	$154K	$648K	20x	as long as short
Bullet HYPE-USD	−0.0006%	1h	93.440	−0.128%	$111K	$578K	20x	as long as short
dYdX HYPE-USDlong	0.0000%	1h	93.560	long leg	$128K	$31K	5x

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	93.447	−0.121%	$23K	$322K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.454	−0.113%	$62K	—	150x	as long as short
BingX HYPE-USDT	+0.0024%	4h	93.540	−0.021%	—	$53.0M	—	as long as short
Phoenix HYPE	+0.0026%	1h	93.393	−0.178%	$213K	$1.2M	10x	as long as short
Aster HYPEUSDT	+0.0026%	4h	93.531	−0.030%	$8.8M	$35.5M	300x	as long as short
Bybit HYPEUSDT	+0.0036%	8h	93.560	0.000%	$321.8M	$277.0M	75x	as long as short
Gate HYPE_USDT	+0.0050%	4h	93.545	−0.016%	$44.7M	$54.9M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0076%	8h	93.550	−0.010%	$114.3M	$302.4M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.582	+0.024%	$16.3M	$61.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.569	+0.010%	$3.1M	$11.6M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.470	−0.096%	$69K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.492	−0.072%	$340K	$162K	20x	as long as short
edgeX HYPEUSDC	+0.0100%	4h	93.360	−0.213%	$5.1M	$29.7M	30x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.470	−0.096%	$17K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.441	−0.126%	$5.8M	$43.2M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.621	+0.065%	$2.04B	$654.1M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.587	+0.029%	$10.1M	$14.6M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.562	+0.002%	$379.4M	$876.3M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.364	−0.209%	$203K	$10K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.555	−0.005%	$89.9M	$80.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.552	−0.008%	$46.0M	$18.1M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.561	+0.001%	$226.2M	$96.6M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.407	−0.163%	$7.4M	$10.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.367	−0.206%	$31.1M	$53.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.422	−0.147%	$7.5M	$45.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.349	−0.225%	$339K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.512	−0.051%	$667K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.496	−0.068%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.496	−0.068%	$472K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.400	−0.171%	$79K	$170K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.389	−0.182%	$16.2M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.519	−0.044%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.415	−0.155%	$2.0M	$1.9M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.515	−0.048%	$18.4M	$43.7M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.423	−0.147%	$397K	$162K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.520	−0.043%	$4.8M	$5.6M	50x	as long as short
HTX HYPE-USDTshort	+0.0188%	4h	93.592	+0.034%	$1.4M	$6.0M	75x
Reya HYPERUSDPERP	+0.0258%	1h	93.452	−0.115%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0278%	8h	93.461	−0.106%	$1.9M	$5.0M	2.3x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0285%	1h	93.501	−0.063%	$7.5M	$4.4M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0156%	1h	93.460	−0.107%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.487	−0.078%	$17.0M	$11.6M	75x	as long as short
RISEx HYPE/USDC	+0.0510%	1h	93.559	0.000%	$3.2M	$6.3M	20x	as long as short
Injective HYPE/USDC PERP	+0.0519%	1h	93.370	−0.203%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0685%	1h	93.477	−0.088%	$20.8M	$29.7M	50x	as long as short