Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0006%/8h= −0.7% APRpaid last 24h −0.007%

Price spread now: Vest against edgeX−0.142%63s7-day average −0.007% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on edgeX Short on Vest

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.130%−$13 on $10k

Price spread, last 3 days (all we have)+0.193%+$19 · spread now −0.142%, 7d avg −0.007%

Together, before fees+0.063%+ Points / potential airdropedgeX: Active · Vest: Active · farm board+$6 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: Vest is 0.135% cheaper against edgeX than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of −0.007%. 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	93.228	0.0106	pay 0.0053% / 4h	1h 36m	$5.1M	$29.6M	30x
Short	Vest HYPE-PERP	93.096	0.0100	get 0.0013% / 1h	36m 15s	—	$454K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest 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 VestbpOrdersPrice spread, now −0.142%Rate

Funding earned: −$1.3
Price spread: −0.142% → −0.007%: −$13.47
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Vest: 1 bp × 2 orders: −$2
Net: −$25.77
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 3 min ago; Vest: no order-book sample. Net counts fees only.

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, 3 min ago	0.32 bp	4.8 bp −$5	5.0 bp −$50	145.9 bp −$14.6K	doesn't fit
Sell Vest no order-book sample	—	—	—	—	—

Vest: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0361%	1h	93.192	−0.039%	$22K	$22K	10x	as long as short
Hibachi HYPE/USDT-P	−0.0192%	1h	93.147	−0.087%	$197K	$230K	7x	as long as short
Arcus HYPE-USD	−0.0131%	1h	93.027	−0.216%	$1.2M	$4.0M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0105%	1h	93.070	−0.170%	$698K	$923K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.118	−0.118%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0016%	1h	93.044	−0.198%	$90K	$362K	20x	as long as short
Popdex HYPEUSDT	−0.0008%	1h	93.039	−0.203%	$58K	$1.2M	50x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.114	−0.123%	$127K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.046	−0.195%	$23K	$331K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.060	−0.181%	$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	+0.0005%	4h	93.024	−0.220%	$8.8M	$36.0M	300x	as long as short
Bybit HYPEUSDT	+0.0027%	8h	92.980	−0.266%	$322.7M	$286.9M	75x	as long as short
Orderly PERP_HYPE_USDC	+0.0031%	4h	93.051	−0.190%	$171K	$519K	20x	as long as short
Derive HYPE-PERP	+0.0031%	1h	92.993	−0.253%	$16.3M	$7.1M	10x	as long as short
Phoenix HYPE	+0.0034%	1h	93.374	+0.156%	$214K	$1.2M	10x	as long as short
Bullet HYPE-USD	+0.0035%	1h	93.010	−0.235%	$111K	$579K	20x	as long as short
Gate HYPE_USDT	+0.0040%	4h	93.007	−0.237%	$43.8M	$58.0M	75x	as long as short
MEXC HYPE_USDT	+0.0088%	4h	93.018	−0.226%	$89.7M	$81.8M	100x	as long as short
Binance HYPEUSDT	+0.0089%	4h	92.980	−0.266%	$382.2M	$892.7M	75x	as long as short
Lighter HYPE	+0.0096%	1h	93.036	−0.206%	$18.5M	$58.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.021	−0.222%	$3.1M	$12.1M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0098%	8h	93.067	−0.173%	$338K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.060	−0.181%	$40K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.035	−0.207%	$5.9M	$44.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.068	−0.172%	$2.02B	$670.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.084	−0.155%	$10.0M	$14.3M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	92.967	−0.280%	$113.7M	$313.1M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.390	+0.173%	$204K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.058	−0.183%	$47.1M	$18.9M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.022	−0.221%	$225.5M	$102.8M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.026	−0.217%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.118	−0.118%	$7.8M	$11.2M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.354	+0.135%	$29.0M	$50.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.268	+0.042%	$7.5M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.246	+0.019%	$412K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.129	−0.107%	$674K	$2.5M	20x	as long as short
Vest HYPE-PERPshort	+0.0100%	1h	93.096	−0.142%	—	$454K	5x
Polymarket Perps HYPE-USD	+0.0100%	1h	93.067	−0.173%	$492K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.017	−0.227%	$76K	$167K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.069	−0.171%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.005	−0.240%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.047	−0.195%	$12.7M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.000	−0.245%	$18.2M	$42.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.998	−0.247%	$396K	$318K	20x	as long as short
edgeX HYPEUSDClong	+0.0106%	4h	93.228	long leg	$5.1M	$29.6M	30x
Kalshi KXHYPEPERP	+0.0106%	8h	93.149	−0.085%	$1.9M	$5.3M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.120	−0.116%	$4.9M	$5.7M	50x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	93.070	−0.170%	$30K	$338K	12x	as long as short
Reya HYPERUSDPERP	+0.0247%	1h	93.017	−0.227%	$77K	$158K	15x	as long as short
HTX HYPE-USDT	+0.0257%	4h	93.200	−0.030%	$1.5M	$7.7M	75x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.113	−0.123%	$2.8M	$6.8M	20x	as long as short
BloFin HYPE-USDT	+0.0329%	4h	93.087	−0.152%	$16.9M	$12.4M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0340% / S −0.0159%	1h	93.052	−0.189%	$1.5M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0416%	1h	93.131	−0.104%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0467%	1h	93.092	−0.146%	$20.8M	$28.9M	50x	as long as short