Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0146%/8h= +16.0% APRpaid last 24h +0.048%

Price spread now: MEXC against Hotstuff+0.048%7-day average — · you sell dearer than you buy

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

Long on Hotstuff Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and MEXC is 0.048% dearer against Hotstuff than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff HYPE-PERP	93.892	−0.0080	get 0.0010% / 1h	56m 03s	$3K	$331	25x
Short	MEXC HYPE_USDT	93.937	0.0066	get 0.0033% / 4h	56m 03s	$90.6M	$80.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Hotstuff. 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 HotstuffbpFee MEXCbpOrdersPrice spread, now +0.048%Rate

Funding earned: $30.66
Price spread: +0.048% → 0.000%: $4.79
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee MEXC: 2 bp × 2 orders: −$4
Net: $26.45
Costs to cover: 0.090%
Break-even: 1.0 days

Slippage unknown: Hotstuff: no order-book sample; MEXC: live order book, 8 min ago. 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 Hotstuff no order-book sample	—	—	—	—	—
Sell MEXC live order book, 8 min ago	0.05 bp	2.1 bp −$2	2.5 bp −$25	10.9 bp −$1,094	34.4 bp −$17.2K

Hotstuff: 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
Hibachi HYPE/USDT-P	−0.0520%	1h	93.829	−0.067%	$199K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0486%	1h	93.686	−0.219%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	93.847	−0.048%	$1.2M	$3.8M	10x	as long as short
Hotstuff HYPE-PERPlong	−0.0080%	1h	93.892	long leg	$3K	$331	25x
dYdX HYPE-USD	0.0000%	1h	93.912	+0.021%	$128K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.920	+0.030%	$23K	$330K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.951	+0.063%	$28K	—	150x	as long as short
Ondo Perps HYPE-USD.P	+0.0003%	1h	93.830	−0.066%	$703K	$903K	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0014%	4h	93.930	+0.040%	$176K	$526K	20x	as long as short
Bybit HYPEUSDT	+0.0018%	8h	93.910	+0.019%	$324.8M	$280.5M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0024%	4h	93.934	+0.045%	$8.9M	$35.8M	300x	as long as short
Phoenix HYPE	+0.0034%	1h	93.805	−0.093%	$215K	$1.2M	10x	as long as short
Gate HYPE_USDT	+0.0064%	4h	93.910	+0.019%	$44.5M	$57.9M	75x	as long as short
MEXC HYPE_USDTshort	+0.0066%	4h	93.937	+0.048%	$90.6M	$80.3M	100x
Derive HYPE-PERP	+0.0069%	1h	93.859	−0.035%	$16.4M	$6.9M	10x	as long as short
Binance HYPEUSDT	+0.0070%	4h	93.930	+0.040%	$385.6M	$885.6M	75x	as long as short
Phemex HYPEUSDT	+0.0070%	8h	93.916	+0.026%	$12.8M	$2.6M	50x	as long as short
edgeX HYPEUSDC	+0.0078%	4h	93.744	−0.157%	$5.1M	$29.6M	30x	as long as short
Lighter HYPE	+0.0096%	1h	93.980	+0.094%	$19.0M	$58.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.965	+0.078%	$3.1M	$12.2M	20x	as long as short
01 Exchange HYPEUSD	+0.0096%	1h	93.968	+0.081%	$91K	$355K	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.925	+0.035%	$63K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.859	−0.035%	$399K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.929	+0.040%	$341K	$169K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.920	+0.030%	$29K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.919	+0.029%	$5.9M	$44.1M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.953	+0.065%	$10.1M	$14.5M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.915	+0.024%	$115.2M	$314.8M	50x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.956	+0.068%	$47.3M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.925	+0.035%	$227.7M	$102.4M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.912	+0.021%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.942	+0.053%	$7.9M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.552	−0.362%	$30.9M	$51.8M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.616	−0.294%	$7.5M	$45.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.759	−0.142%	$393K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.862	−0.032%	$679K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.914	+0.023%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.946	+0.058%	$484K	$2.5M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	93.901	+0.009%	$112K	$577K	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.929	+0.039%	$76K	$166K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.976	+0.089%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.937	+0.048%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.680	−0.226%	$205K	$7K	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	93.750	−0.151%	$30K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.900	+0.008%	$18.6M	$42.0M	50x	as long as short
Kalshi KXHYPEPERP	+0.0120%	8h	93.978	+0.092%	$1.9M	$5.1M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	93.870	−0.023%	$4.9M	$5.7M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0218%	1h	94.020	+0.136%	$7.4M	$4.5M	50x	as long as short
HTX HYPE-USDT	+0.0222%	4h	94.088	+0.209%	$1.5M	$7.7M	75x	as long as short
Reya HYPERUSDPERP	+0.0248%	1h	93.916	+0.025%	$77K	$142K	15x	as long as short
BloFin HYPE-USDT	+0.0266%	4h	93.898	+0.006%	$17.0M	$12.3M	75x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	93.981	+0.094%	$2.7M	$6.8M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0340% / S −0.0165%	1h	93.897	+0.005%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0577%	1h	94.049	+0.167%	$21.0M	$29.0M	50x	as long as short
Hyperliquid HYPE	+0.0630%	1h	93.978	+0.092%	$2.05B	$667.7M	10x	as long as short