Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.040%

Price spread now: SunX against HTX−0.078%7-day average +0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$85as in the Price arb table

costs, in and out, $10k−$760.764% of the position

Long on HTX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.040%−$4 on $10k

Price spread, last 4 days (all we have)+0.204%+$20 · spread now −0.078%, 7d avg +0.011%

Together, before fees+0.164%+$16 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: SunX is 0.090% cheaper against HTX than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX HYPE-USDT	93.167	0.0100	pay 0.0050% / 4h	3h 11m	$1.4M	$6.3M	75x
Short	SunX HYPE-USDT	93.094	0.0100	get 0.0050% / 4h	3h 11m	$32K	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against HTX. 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 HTXbpFee SunXbpOrdersPrice spread, now −0.078%Rate

Funding earned: $0
Price spread: −0.078% → +0.011%: −$8.95
Slippage, 4 orders: −$56.36
Fee HTX: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$85.31
Costs to cover: 0.764%
Break-even: never at this rate

Slippage from HTX: live order book, 2 min ago; SunX: live order book, 3 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 HTX live order book, 2 min ago	0.91 bp	9.3 bp −$9	15.9 bp −$159	47.7 bp −$4,768	doesn't fit
Sell SunX live order book, 3 min ago	19.35 bp	32.5 bp −$33	doesn't fit	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	−0.1800%	1h	93.146	−0.023%	$194K	$231K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0310%	1h	93.023	−0.155%	$22K	$21K	10x	as long as short
Arcus HYPE-USD	−0.0194%	1h	93.014	−0.164%	$1.1M	$3.9M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.086	−0.087%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0053%	4h	93.023	−0.155%	$146K	$674K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.075	−0.098%	$128K	$29K	5x	as long as short
Ondo Perps HYPE-USD.P	0.0000%	1h	92.980	−0.201%	$701K	$1.1M	10x	as long as short
Perpl HYPE	0.0000%	43m	93.065	−0.109%	$22K	$293K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.055	−0.120%	$62K	—	150x	as long as short
Bullet HYPE-USD	+0.0012%	1h	93.017	−0.161%	$111K	$578K	20x	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	+0.0024%	1h	93.058	−0.117%	$87K	$365K	20x	as long as short
Phoenix HYPE	+0.0026%	1h	93.056	−0.119%	$208K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0027%	8h	93.030	−0.147%	$317.4M	$284.3M	75x	as long as short
Phemex HYPEUSDT	+0.0029%	8h	93.021	−0.157%	$12.6M	$2.7M	50x	as long as short
Bitget HYPEUSDT	+0.0038%	4h	93.039	−0.137%	$225.1M	$98.8M	75x	as long as short
Popdex HYPEUSDT	+0.0048%	1h	93.031	−0.146%	$76K	$1.1M	50x	as long as short
Gate HYPE_USDT	+0.0054%	4h	93.039	−0.137%	$45.4M	$54.7M	75x	as long as short
edgeX HYPEUSDC	+0.0094%	4h	93.059	−0.116%	$4.9M	$29.8M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0096%	8h	93.063	−0.111%	$339K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.051	−0.124%	$16.0M	$62.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.056	−0.119%	$3.1M	$11.6M	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.020	−0.158%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.065	−0.109%	$6.8M	$46.5M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.100	−0.072%	$2.03B	$669.9M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.058	−0.117%	$8.7M	$36.4M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.052	−0.123%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.054	−0.121%	$373.5M	$910.2M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.059	−0.116%	$113.9M	$305.3M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.125	−0.045%	$203K	$3K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.038	−0.138%	$91.4M	$81.4M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.034	−0.143%	$46.1M	$18.5M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.043	−0.133%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.070	−0.104%	$7.3M	$11.2M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.999	−0.181%	$28.6M	$56.8M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.078	−0.096%	$7.5M	$46.7M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.266	+0.106%	$342K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.057	−0.118%	$665K	$2.9M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.103	−0.069%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.058	−0.117%	$488K	$2.7M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.046	−0.130%	$79K	$167K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.024	−0.153%	$16.0M	$7.5M	10x	as long as short
SunX HYPE-USDTshort	+0.0100%	4h	93.094	−0.078%	$32K	$1.6M	20x
SoDEX HYPE-USD	+0.0100%	1h	93.037	−0.140%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDTlong	+0.0100%	4h	93.167	long leg	$1.4M	$6.3M	75x
Extended HYPE-USD	+0.0104%	1h	93.004	−0.175%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.036	−0.140%	$393K	$164K	20x	as long as short
Kalshi KXHYPEPERP	+0.0126%	8h	93.097	−0.075%	$1.8M	$5.5M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.220	+0.057%	$4.7M	$5.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0196%	1h	93.120	−0.050%	$20.7M	$29.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0242%	1h	93.410	+0.261%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0266%	1h	93.019	−0.159%	$79K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	93.053	−0.122%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.113	−0.058%	$16.8M	$11.8M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0491%	1h	93.135	−0.034%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0598%	1h	93.100	−0.072%	$3.2M	$6.3M	20x	as long as short