Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0180%/8h= +19.7% APRpaid last 24h +0.031%

Price spread now: StandX against Gate+0.234%7-day average +0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$25as in the Funding arb table

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

costs, in and out, $10k−$340.340% of the position

Long on Gate Short on StandX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.091%+$9 on $10k

Price spread, last 7 days−0.252%−$25 · spread now +0.234%, 7d avg +0.013%

Together, before fees−0.160%+ Points / potential airdropStandX: Active · farm board−$16 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and StandX is 0.221% dearer against Gate than usual: you sell high and buy low: +$22 more if the spread goes back to its 7-day average of +0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate HYPE_USDT	93.619	−0.0080	get 0.0040% / 4h	3h 18m	$44.4M	$60.1M	75x
Short	StandX HYPE-USD	93.838	0.0100	get 0.0013% / 1h	18m 25s	$679K	$2.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

StandX against Gate. 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 GatebpFee StandXbpOrdersPrice spread, now +0.234%Rate

Funding earned: $37.8
Price spread: +0.234% → +0.013%: $22.09
Slippage, 4 orders: −$11.02
Fee Gate: 7.5 bp × 2 orders: −$15
Fee StandX: 4 bp × 2 orders: −$8
Net: $25.87
Costs to cover: 0.340%
Break-even: 2.2 days

Slippage from Gate: live order book, 5 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 Gate live order book, 5 min ago	0.80 bp	10.8 bp −$11	16.2 bp −$162	34.1 bp −$3,410	65.9 bp −$32.9K
Sell StandX live order book, just now	2.30 bp	6.3 bp −$6	6.6 bp −$66	15.3 bp −$1,534	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	−0.1312%	1h	93.756	+0.146%	$198K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0625%	1h	93.417	−0.216%	$1.2M	$3.8M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0185%	1h	93.952	+0.355%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0151%	1h	93.510	−0.116%	$710K	$955K	10x	as long as short
dYdX HYPE-USD	−0.0108%	1h	93.519	−0.107%	$128K	$31K	5x	as long as short
Bullet HYPE-USD	−0.0097%	1h	93.605	−0.015%	$113K	$581K	20x	as long as short
01 Exchange HYPEUSD	−0.0096%	1h	93.536	−0.089%	$85K	$360K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.531	−0.094%	$3K	$331	25x	as long as short
Gate HYPE_USDTlong	−0.0080%	4h	93.619	long leg	$44.4M	$60.1M	75x
Orderly PERP_HYPE_USDC	−0.0027%	4h	93.603	−0.017%	$159K	$645K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit HYPEUSDT	−0.0021%	8h	93.660	+0.044%	$321.7M	$280.4M	75x	as long as short
Phemex HYPEUSDT	−0.0017%	8h	93.548	−0.076%	$12.7M	$2.6M	50x	as long as short
Perpl HYPE	0.0000%	43m	93.591	−0.030%	$23K	$326K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.626	+0.008%	$27K	—	150x	as long as short
Aster HYPEUSDT	+0.0003%	4h	93.592	−0.029%	$8.9M	$36.1M	300x	as long as short
Derive HYPE-PERP	+0.0003%	1h	93.596	−0.025%	$16.4M	$7.3M	10x	as long as short
Phoenix HYPE	+0.0034%	1h	94.149	+0.566%	$219K	$1.2M	10x	as long as short
Binance HYPEUSDT	+0.0042%	4h	93.619	0.000%	$381.9M	$894.2M	75x	as long as short
MEXC HYPE_USDT	+0.0044%	4h	93.576	−0.046%	$88.1M	$83.1M	100x	as long as short
edgeX HYPEUSDC	+0.0057%	4h	93.961	+0.365%	$5.1M	$30.0M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0074%	8h	93.645	+0.028%	$115.6M	$316.6M	50x	as long as short
Bluefin HYPE-PERP	+0.0083%	1h	93.651	+0.034%	$76K	$170K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.555	−0.068%	$19.1M	$60.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.538	−0.087%	$3.0M	$12.2M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.540	−0.084%	$66K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.596	−0.025%	$398K	$180K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.554	−0.070%	$340K	$165K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.550	−0.074%	$17K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.515	−0.111%	$6.6M	$44.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.631	+0.013%	$2.04B	$675.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.571	−0.051%	$10.1M	$14.6M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.528	−0.097%	$204K	$12K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.570	−0.052%	$46.5M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.687	+0.073%	$227.1M	$101.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.607	−0.013%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.522	−0.104%	$7.7M	$10.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.939	+0.342%	$31.4M	$54.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.991	+0.397%	$7.6M	$46.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.940	+0.343%	$340K	$1.1M	50x	as long as short
StandX HYPE-USDshort	+0.0100%	1h	93.838	+0.234%	$679K	$2.6M	20x
Vest HYPE-PERP	+0.0100%	1h	93.603	−0.017%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.596	−0.025%	$473K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.673	+0.058%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.653	+0.036%	$2.0M	$2.0M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.623	+0.005%	$18.7M	$44.5M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.590	−0.031%	$4.9M	$5.5M	50x	as long as short
BloFin HYPE-USDT	+0.0179%	4h	93.552	−0.072%	$17.0M	$12.1M	75x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.490	+0.930%	$31K	$338K	12x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	93.571	−0.052%	$2.7M	$6.8M	20x	as long as short
Kalshi KXHYPEPERP	+0.0227%	8h	93.641	+0.023%	$1.9M	$5.1M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0252%	1h	93.568	−0.055%	$79K	$142K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0334% / S −0.0156%	1h	93.615	−0.004%	$1.4M	—	100x	as long as short
HTX HYPE-USDT	+0.0374%	4h	93.750	+0.140%	$1.5M	$6.1M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0615%	1h	93.757	+0.147%	$7.5M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0673%	1h	93.761	+0.151%	$20.9M	$29.8M	50x	as long as short