Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0003%/8h= −0.3% APRpaid last 24h +0.005%

Price spread now: StandX against edgeX−0.434%63s7-day average +0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$20as 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−$210.206% of the position

Long on edgeX Short on StandX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.002%$0 on $10k

Price spread, last 7 days+0.442%+$44 · spread now −0.434%, 7d avg +0.033%

Together, before fees+0.444%+ Points / potential airdropedgeX: Active · StandX: Active · farm board+$44 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: StandX is 0.467% cheaper against edgeX than usual: you would sell low and buy high, −$47 on $10k if it goes back to its 7-day average of +0.033%. The two prices were read 63 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX HYPEUSDC	92.776	0.0103	pay 0.0052% / 4h	48m 34s	$5.1M	$29.2M	30x
Short	StandX HYPE-USD	92.373	0.0100	get 0.0013% / 1h	48m 34s	$662K	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

StandX 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 StandXbpOrdersPrice spread, now −0.434%Rate

Funding earned: −$0.65
Price spread: −0.434% → +0.033%: −$46.73
Slippage, 4 orders: −$3.55
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee StandX: 4 bp × 2 orders: −$8
Net: −$67.93
Costs to cover: 0.206%
Break-even: never at this rate

Slippage from edgeX: live order book, 1 min ago; StandX: live order book, just now.

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, 1 min ago	0.05 bp	5.0 bp −$5	5.2 bp −$52	98.5 bp −$9,850	doesn't fit
Sell StandX live order book, just now	1.36 bp	5.4 bp −$5	5.7 bp −$57	15.1 bp −$1,510	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
Arcus HYPE-USD	−0.0948%	1h	92.181	−0.641%	$1.2M	$3.8M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0680%	1h	92.323	−0.488%	$194K	$227K	7x	as long as short
01 Exchange HYPEUSD	−0.0120%	1h	92.171	−0.652%	$86K	$352K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0116%	1h	92.540	−0.255%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.337	−0.473%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0074%	1h	92.177	−0.645%	$110K	$580K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0068%	4h	92.272	−0.543%	$157K	$663K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0051%	1h	92.230	−0.588%	$699K	$1.1M	10x	as long as short
Aster HYPEUSDT	−0.0009%	4h	92.227	−0.592%	$8.7M	$36.3M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.322	−0.489%	$127K	$31K	5x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	92.216	−0.604%	$22K	$310K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.214	−0.606%	$61K	—	150x	as long as short
Derive HYPE-PERP	+0.0020%	1h	92.242	−0.575%	$16.0M	$7.5M	10x	as long as short
BingX HYPE-USDT	+0.0032%	4h	92.249	−0.568%	—	$53.2M	—	as long as short
Bybit HYPEUSDT	+0.0037%	8h	92.230	−0.588%	$315.7M	$280.6M	75x	as long as short
Phoenix HYPE	+0.0043%	1h	92.430	−0.373%	$210K	$1.2M	10x	as long as short
Phemex HYPEUSDT	+0.0045%	8h	92.304	−0.509%	$12.5M	$2.7M	50x	as long as short
Gate HYPE_USDT	+0.0046%	4h	92.263	−0.553%	$44.3M	$54.6M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0075%	8h	92.174	−0.649%	$112.7M	$300.3M	50x	as long as short
Binance HYPEUSDT	+0.0078%	4h	92.222	−0.597%	$370.8M	$895.4M	75x	as long as short
MEXC HYPE_USDT	+0.0078%	4h	92.189	−0.632%	$87.1M	$80.3M	100x	as long as short
Popdex HYPEUSDT	+0.0080%	1h	92.198	−0.623%	$67K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0091%	8h	92.288	−0.526%	$337K	$162K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.262	−0.554%	$15.9M	$62.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.268	−0.547%	$3.1M	$11.6M	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.200	−0.621%	$13K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.266	−0.550%	$5.8M	$43.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.264	−0.552%	$2.01B	$662.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.287	−0.527%	$10.0M	$15.0M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.800	+0.026%	$202K	$13K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.201	−0.620%	$45.7M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.189	−0.632%	$223.0M	$97.9M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.280	−0.534%	$7.3M	$10.2M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.469	−0.331%	$28.5M	$57.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.799	+0.025%	$7.5M	$45.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.488	−0.310%	$338K	$1.0M	50x	as long as short
StandX HYPE-USDshort	+0.0100%	1h	92.373	−0.434%	$662K	$2.7M	20x
Vest HYPE-PERP	+0.0100%	1h	92.276	−0.539%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.241	−0.576%	$474K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.331	−0.479%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.288	−0.526%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.476	−0.323%	$1.4M	$6.2M	75x	as long as short
edgeX HYPEUSDClong	+0.0103%	4h	92.776	long leg	$5.1M	$29.2M	30x
Extended HYPE-USD	+0.0104%	1h	92.234	−0.584%	$18.1M	$43.4M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.276	−0.539%	$390K	$164K	20x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	92.250	−0.567%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.350	−0.459%	$4.7M	$5.5M	50x	as long as short
Reya HYPERUSDPERP	+0.0260%	1h	92.186	−0.636%	$78K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0262%	8h	92.333	−0.477%	$1.8M	$5.4M	2.3x	as long as short
BloFin HYPE-USDT	+0.0316%	4h	92.252	−0.565%	$16.7M	$11.5M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0329% / S −0.0153%	1h	92.313	−0.499%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0333%	1h	92.330	−0.480%	$20.5M	$30.4M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0378%	1h	92.379	−0.428%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.338	−0.472%	$3.1M	$6.4M	20x	as long as short
Bluefin HYPE-PERP	+0.0850%	1h	92.242	−0.575%	$78K	$169K	20x	as long as short