Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.010%

Price spread now: MEXC against Extended+0.029%7-day average +0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

costs, in and out, $10k−$90.092% of the position

Long on Extended Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.034%−$3 on $10k

Price spread, last 7 days−0.031%−$3 · spread now +0.029%, 7d avg +0.036%

Together, before fees−0.065%+ Points / potential airdropExtended: Active · farm board−$6 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended HYPE-USD	93.230	0.0104	pay 0.0013% / 1h	8m 04s	$18.1M	$43.5M	50x
Short	MEXC HYPE_USDT	93.257	0.0100	get 0.0050% / 4h	3h 08m	$92.0M	$81.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Extended. 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 ExtendedbpFee MEXCbpOrdersPrice spread, now +0.029%Rate

Funding earned: −$0.84
Price spread: +0.029% → +0.036%: −$0.7
Slippage, 4 orders: −$0.22
Fee Extended: 2.5 bp × 2 orders: −$5
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$10.76
Costs to cover: 0.092%
Break-even: never at this rate

Slippage from Extended: live order book, 6 min ago; MEXC: live order book, 1 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 Extended live order book, 6 min ago	0.05 bp	2.6 bp −$3	5.3 bp −$53	27.4 bp −$2,736	doesn't fit
Sell MEXC live order book, 1 min ago	0.05 bp	2.1 bp −$2	3.7 bp −$37	12.6 bp −$1,262	36.5 bp −$18.3K

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	−0.1824%	1h	92.940	−0.311%	$194K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0317%	1h	93.073	−0.168%	$22K	$21K	10x	as long as short
Arcus HYPE-USD	−0.0194%	1h	93.086	−0.154%	$1.1M	$3.9M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.022	−0.223%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0050%	4h	93.179	−0.054%	$146K	$670K	20x	as long as short
Bullet HYPE-USD	−0.0005%	1h	93.162	−0.073%	$111K	$578K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.076	−0.165%	$128K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.202	−0.030%	$22K	$293K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.228	−0.002%	$62K	—	150x	as long as short
Ondo Perps HYPE-USD.P	+0.0002%	1h	93.050	−0.193%	$700K	$1.1M	10x	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	93.155	−0.080%	$87K	$365K	20x	as long as short
Phoenix HYPE	+0.0026%	1h	93.132	−0.105%	$209K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0030%	8h	93.250	+0.022%	$317.8M	$284.4M	75x	as long as short
Bitget HYPEUSDT	+0.0032%	4h	93.254	+0.026%	$225.6M	$98.8M	75x	as long as short
Phemex HYPEUSDT	+0.0032%	8h	93.177	−0.057%	$12.6M	$2.7M	50x	as long as short
Popdex HYPEUSDT	+0.0056%	1h	93.129	−0.108%	$76K	$1.1M	50x	as long as short
Gate HYPE_USDT	+0.0080%	4h	93.237	+0.008%	$45.6M	$54.9M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	93.139	−0.097%	$339K	$162K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.225	−0.005%	$16.1M	$62.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.231	+0.001%	$3.1M	$11.7M	20x	as long as short
edgeX HYPEUSDC	+0.0099%	4h	93.100	−0.139%	$4.9M	$29.7M	30x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.090	−0.150%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.138	−0.098%	$6.8M	$46.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.286	+0.060%	$2.03B	$664.4M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.238	+0.009%	$8.7M	$36.3M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.127	−0.110%	$10.0M	$15.3M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.255	+0.027%	$374.2M	$909.9M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.277	+0.051%	$114.4M	$306.0M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.125	−0.112%	$203K	$3K	10x	as long as short
MEXC HYPE_USDTshort	+0.0100%	4h	93.257	+0.029%	$92.0M	$81.6M	100x
KuCoin HYPEUSDTM	+0.0100%	4h	93.238	+0.009%	$46.2M	$18.5M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.217	−0.014%	—	$53.8M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.275	+0.048%	$7.3M	$11.0M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.028	−0.217%	$28.6M	$56.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.156	−0.079%	$7.5M	$46.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.126	−0.111%	$342K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.110	−0.128%	$665K	$2.9M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.179	−0.054%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.168	−0.066%	$488K	$2.7M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.236	+0.007%	$79K	$167K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.207	−0.024%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.257	+0.029%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.217	−0.014%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.300	+0.075%	$1.4M	$6.3M	75x	as long as short
Extended HYPE-USDlong	+0.0104%	1h	93.230	long leg	$18.1M	$43.5M	50x
Aevo HYPE-PERP	+0.0104%	1h	93.238	+0.009%	$394K	$164K	20x	as long as short
Kalshi KXHYPEPERP	+0.0121%	8h	93.319	+0.096%	$1.8M	$5.5M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.230	0.000%	$4.7M	$5.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0196%	1h	93.294	+0.069%	$20.8M	$29.4M	50x	as long as short
Injective HYPE/USDC PERP	+0.0242%	1h	93.020	−0.225%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0266%	1h	93.184	−0.049%	$80K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0154%	1h	93.218	−0.012%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.029	−0.215%	$16.8M	$11.8M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0522%	1h	93.313	+0.089%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0598%	1h	93.183	−0.051%	$3.2M	$6.2M	20x	as long as short