Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h +0.068%

Price spread now: RISEx against GRVT−0.050%7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$190.188% of the position

Long on GRVT Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.146%+$15 on $10k

Price spread, last 7 days+0.040%+$4 · spread now −0.050%, 7d avg −0.016%

Together, before fees+0.186%+ Points / potential airdropGRVT: Active · farm board+$19 on $10k · with fees, hour by hour

Funding pays, the price is against you. RISEx is 0.034% cheaper against GRVT than usual: you would sell low and buy high (spread −0.050% now, against its 7-day average of −0.016%). If the spread goes back, that is −$3 on $10k: about 3.4 days of funding at the current rate (+$1 a day). At the pace of the last 4 days (+0.146% in total) that is about 21 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT HYPE_USDT_Perp	94.625	0.0100	pay 0.0050% / 4h	3h 55m	$7.6M	$44.6M	10x
Short	RISEx HYPE/USDC	94.578	0.0133	get 0.0017% / 1h	55m 08s	$3.2M	$6.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against GRVT. 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 GRVTbpFee RISExbpOrdersPrice spread, now −0.050%Rate

Funding earned: $6.96
Price spread: −0.050% → −0.016%: −$3.41
Slippage, 4 orders: −$3.83
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$15.28
Costs to cover: 0.188%
Break-even: 22.4 days

Slippage from GRVT: live order book, 4 min ago; RISEx: live order book, 4 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 GRVT live order book, 4 min ago	0.05 bp	5.7 bp −$6	6.9 bp −$69	5003.9 bp −$500.4K	doesn't fit
Sell RISEx live order book, 4 min ago	1.27 bp	4.3 bp −$4	6.6 bp −$66	doesn't fit	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	−0.1448%	1h	94.686	+0.064%	$207K	$268K	7x	as long as short
Bluefin HYPE-PERP	−0.0374%	1h	94.617	−0.008%	$80K	$151K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0290%	1h	94.572	−0.056%	$22K	$20K	10x	as long as short
Bullet HYPE-USD	−0.0201%	1h	94.619	−0.006%	$112K	$575K	20x	as long as short
Arcus HYPE-USD	−0.0112%	1h	94.520	−0.111%	$1.0M	$3.5M	10x	as long as short
01 Exchange HYPEUSD	−0.0096%	1h	94.554	−0.075%	$87K	$364K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0083%	1h	94.630	+0.005%	$714K	$1.2M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.668	+0.045%	$3K	$331	25x	as long as short
Kraken Futures PF_HYPEUSD	−0.0047%	1h	94.697	+0.076%	$20.3M	$30.3M	50x	as long as short
Orderly PERP_HYPE_USDC	−0.0007%	4h	94.633	+0.008%	$147K	$685K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX HYPE-USD	0.0000%	1h	94.547	−0.083%	$130K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.625	0.000%	$1.9M	$5.5M	2.3x	as long as short
Phoenix HYPE	0.0000%	1h	94.723	+0.104%	$210K	$1.2M	10x	as long as short
Perpl HYPE	0.0000%	43m	94.591	−0.036%	$19K	$285K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.643	+0.019%	$124K	—	150x	as long as short
Bitget HYPEUSDT	+0.0014%	4h	94.712	+0.092%	$227.3M	$100.1M	75x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0016%	1h	94.680	+0.058%	$4.7M	$6.2M	50x	as long as short
Derive HYPE-PERP	+0.0022%	1h	94.691	+0.070%	$16.4M	$7.4M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0047%	8h	94.532	−0.098%	$338K	$154K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0063%	8h	94.730	+0.111%	$118.0M	$326.9M	50x	as long as short
SoDEX HYPE-USD	+0.0069%	1h	94.658	+0.035%	$2.1M	$1.9M	10x	as long as short
Vest HYPE-PERP	+0.0070%	1h	94.640	+0.015%	—	$190K	5x	as long as short
Lighter HYPE	+0.0080%	1h	94.664	+0.041%	$16.2M	$61.7M	20x	as long as short
edgeX HYPEUSDC	+0.0093%	4h	94.691	+0.070%	$5.0M	$30.6M	30x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.668	+0.045%	$3.2M	$10.2M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.536	−0.094%	$121K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.550	−0.079%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.534	−0.097%	$7.2M	$52.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.768	+0.151%	$2.08B	$690.8M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.696	+0.075%	$9.6M	$37.6M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.567	−0.061%	$10.2M	$14.8M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.701	+0.080%	$380.3M	$933.9M	75x	as long as short
Bybit HYPEUSDT	+0.0100%	8h	94.730	+0.111%	$318.4M	$288.2M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.685	+0.063%	$219K	$12K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.678	+0.056%	$50.8M	$53.6M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.674	+0.052%	$93.4M	$84.5M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.632	+0.007%	$46.9M	$18.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.671	+0.049%	—	$53.2M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.642	+0.018%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.549	−0.080%	$29.9M	$55.9M	—	as long as short
GRVT HYPE_USDT_Perplong	+0.0100%	4h	94.625	long leg	$7.6M	$44.6M	10x
ApeX Omni HYPEUSDT	+0.0100%	1h	94.574	−0.054%	$351K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.668	+0.045%	$693K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.636	+0.012%	$499K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.700	+0.079%	$32K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.750	+0.132%	$1.4M	$6.9M	75x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	94.656	+0.033%	$12.9M	$2.9M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.620	−0.006%	$18.4M	$43.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.668	+0.046%	$400K	$153K	20x	as long as short
RISEx HYPE/USDCshort	+0.0133%	1h	94.578	−0.050%	$3.2M	$6.4M	20x
Injective HYPE/USDC PERP	+0.0153%	1h	94.480	−0.153%	$31K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.558	−0.071%	$83K	$118K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0326% / S −0.0152%	1h	94.656	+0.033%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.671	+0.049%	$15.8M	$12.4M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0352%	1h	94.749	+0.131%	$7.5M	$4.4M	50x	as long as short