Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0074%/8h= +8.1% APRpaid last 24h −0.019%

Price spread now: Coinbase International against edgeX+0.134%7-day average −0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$12as in the Price arb table

costs, in and out, $10k−$280.277% of the position

Long on edgeX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.105%−$10 on $10k

Price spread, last 3 days (all we have)−0.176%−$18 · spread now +0.134%, 7d avg −0.027%

Together, before fees−0.280%+ Points / potential airdropedgeX: Active · farm board−$28 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Coinbase International is 0.161% dearer against edgeX than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of −0.027%. Mind the row above: over the last 7 days funding on this pair cost −0.105%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX HYPEUSDC	93.744	0.0078	pay 0.0039% / 4h	57m 02s	$5.1M	$29.6M	30x
Short	Coinbase International HYPE-PERP-INTX	93.870	0.0152	get 0.0019% / 1h	57m 02s	$4.9M	$5.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against edgeX. 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 edgeXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.134%Rate

Funding earned: $15.56
Price spread: +0.134% → −0.027%: $16.11
Slippage, 4 orders: −$8.67
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $3.99
Costs to cover: 0.277%
Break-even: 5.2 days

Slippage from edgeX: live order book, 2 min ago; Coinbase International: 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 edgeX live order book, 2 min ago	0.32 bp	4.8 bp −$5	5.0 bp −$50	130.6 bp −$13.1K	doesn't fit
Sell Coinbase International live order book, 2 min ago	3.73 bp	9.1 bp −$9	14.1 bp −$141	35.0 bp −$3,505	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	−0.0504%	1h	93.735	−0.010%	$198K	$228K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0486%	1h	93.638	−0.114%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	93.768	+0.025%	$1.2M	$3.8M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.840	+0.102%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0002%	1h	93.800	+0.059%	$701K	$903K	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.912	+0.179%	$128K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.882	+0.147%	$23K	$330K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.922	+0.190%	$28K	—	150x	as long as short
Orderly PERP_HYPE_USDC	+0.0014%	4h	93.908	+0.175%	$176K	$526K	20x	as long as short
Bybit HYPEUSDT	+0.0018%	8h	93.900	+0.166%	$324.8M	$280.7M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0020%	4h	93.894	+0.159%	$8.9M	$35.8M	300x	as long as short
Phoenix HYPE	+0.0034%	1h	93.805	+0.065%	$215K	$1.2M	10x	as long as short
Derive HYPE-PERP	+0.0063%	1h	93.839	+0.101%	$16.4M	$6.9M	10x	as long as short
Gate HYPE_USDT	+0.0064%	4h	93.887	+0.152%	$44.5M	$57.8M	75x	as long as short
MEXC HYPE_USDT	+0.0066%	4h	93.905	+0.171%	$90.7M	$80.3M	100x	as long as short
Binance HYPEUSDT	+0.0067%	4h	93.917	+0.184%	$385.5M	$886.0M	75x	as long as short
Phemex HYPEUSDT	+0.0074%	8h	93.842	+0.104%	$12.8M	$2.6M	50x	as long as short
edgeX HYPEUSDClong	+0.0078%	4h	93.744	long leg	$5.1M	$29.6M	30x
Lighter HYPE	+0.0096%	1h	93.952	+0.221%	$19.0M	$58.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.934	+0.202%	$3.1M	$12.2M	20x	as long as short
01 Exchange HYPEUSD	+0.0096%	1h	93.900	+0.166%	$91K	$355K	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.847	+0.110%	$63K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.852	+0.115%	$399K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.845	+0.107%	$341K	$169K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.830	+0.091%	$29K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.844	+0.107%	$5.9M	$44.1M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.868	+0.132%	$10.1M	$14.5M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.905	+0.171%	$115.0M	$314.5M	50x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.905	+0.171%	$47.2M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.898	+0.164%	$227.6M	$102.5M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.897	+0.163%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.926	+0.194%	$7.9M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.552	−0.205%	$30.9M	$51.8M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.616	−0.137%	$7.5M	$45.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.759	+0.016%	$393K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.783	+0.041%	$678K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.874	+0.138%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.911	+0.178%	$484K	$2.5M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	93.888	+0.153%	$113K	$577K	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.903	+0.169%	$76K	$166K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.979	+0.250%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.904	+0.170%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.680	−0.069%	$205K	$7K	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	93.750	+0.006%	$30K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.882	+0.147%	$18.6M	$42.0M	50x	as long as short
Kalshi KXHYPEPERP	+0.0120%	8h	93.972	+0.243%	$1.9M	$5.1M	2.3x	as long as short
Coinbase International HYPE-PERP-INTXshort	+0.0152%	1h	93.870	+0.134%	$4.9M	$5.7M	50x
HTX HYPE-USDT	+0.0221%	4h	94.082	+0.360%	$1.5M	$7.7M	75x	as long as short
Reya HYPERUSDPERP	+0.0248%	1h	93.885	+0.150%	$77K	$142K	15x	as long as short
BloFin HYPE-USDT	+0.0266%	4h	93.898	+0.164%	$17.0M	$12.3M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0272%	1h	93.995	+0.267%	$7.4M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	93.894	+0.159%	$2.7M	$6.8M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0340% / S −0.0165%	1h	93.877	+0.141%	$1.4M	—	100x	as long as short
Hyperliquid HYPE	+0.0540%	1h	93.938	+0.207%	$2.05B	$667.5M	10x	as long as short
Kraken Futures PF_HYPEUSD	+0.0577%	1h	94.020	+0.294%	$21.0M	$29.0M	50x	as long as short