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% APRpaid last 24h +0.010%

Price spread now: HTX against Hyperliquid−0.036%7-day average −0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$300.304% of the position

Long on Hyperliquid Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.029%−$3 on $10k

Price spread, last 4 days (all we have)−0.047%−$5 · spread now −0.036%, 7d avg −0.001%

Together, before fees−0.076%+ Points / potential airdropHyperliquid: Season 2 · farm board−$8 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: HTX is 0.035% cheaper against Hyperliquid than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid HYPE	94.384	0.0100	pay 0.0013% / 1h	53m 06s	$2.07B	$688.5M	10x
Short	HTX HYPE-USDT	94.350	0.0100	get 0.0050% / 4h	53m 06s	$1.4M	$6.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Hyperliquid. 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 HyperliquidbpFee HTXbpOrdersPrice spread, now −0.036%Rate

Funding earned: $0
Price spread: −0.036% → −0.001%: −$3.54
Slippage, 4 orders: −$9.44
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee HTX: 6 bp × 2 orders: −$12
Net: −$33.98
Costs to cover: 0.304%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 11 min ago; HTX: 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 Hyperliquid live order book, 11 min ago	0.05 bp	4.7 bp −$5	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 1 min ago	2.75 bp	11.0 bp −$11	18.9 bp −$189	63.8 bp −$6,384	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	−0.1120%	1h	94.259	−0.133%	$201K	$234K	7x	as long as short
Bluefin HYPE-PERP	−0.0390%	1h	94.195	−0.200%	$80K	$155K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0220%	1h	94.240	−0.153%	$709K	$1.2M	10x	as long as short
Bullet HYPE-USD	−0.0187%	1h	94.221	−0.173%	$112K	$575K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0132%	1h	94.294	−0.096%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0112%	1h	94.272	−0.119%	$87K	$366K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.250	−0.142%	$3K	$331	25x	as long as short
Arcus HYPE-USD	−0.0045%	1h	94.248	−0.144%	$1.0M	$3.6M	10x	as long as short
Derive HYPE-PERP	−0.0040%	1h	94.156	−0.241%	$16.4M	$7.5M	10x	as long as short
ApeX Omni HYPEUSDT	−0.0034%	1h	94.057	−0.346%	$362K	$1.0M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit HYPEUSDT	−0.0013%	8h	94.300	−0.089%	$317.4M	$289.5M	75x	as long as short
BingX HYPE-USDT	−0.0012%	4h	94.279	−0.111%	—	$53.5M	—	as long as short
Orderly PERP_HYPE_USDC	−0.0006%	4h	94.190	−0.206%	$146K	$685K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.353	−0.033%	$129K	$60K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.322	−0.066%	$1.8M	$5.5M	2.3x	as long as short
Phoenix HYPE	0.0000%	1h	94.351	−0.035%	$209K	$1.1M	10x	as long as short
Perpl HYPE	0.0000%	43m	94.230	−0.163%	$19K	$287K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.260	−0.131%	$117K	—	150x	as long as short
Bitget HYPEUSDT	+0.0038%	4h	94.260	−0.131%	$226.7M	$100.1M	75x	as long as short
Phemex HYPEUSDT	+0.0051%	8h	94.242	−0.150%	$12.9M	$2.9M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0060%	8h	94.303	−0.086%	$337K	$156K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0064%	1h	94.340	−0.047%	$4.7M	$6.2M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0088%	8h	94.320	−0.068%	$117.4M	$323.6M	50x	as long as short
edgeX HYPEUSDC	+0.0089%	4h	94.094	−0.307%	$5.0M	$30.6M	30x	as long as short
Lighter HYPE	+0.0096%	1h	94.279	−0.111%	$16.3M	$63.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.280	−0.110%	$3.2M	$10.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.255	−0.137%	$82K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.270	−0.121%	$17K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.266	−0.124%	$7.3M	$50.8M	10x	as long as short
Hyperliquid HYPElong	+0.0100%	1h	94.384	long leg	$2.07B	$688.5M	10x
Aster HYPEUSDT	+0.0100%	4h	94.312	−0.076%	$8.8M	$37.3M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.300	−0.089%	$10.2M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.312	−0.076%	$377.5M	$932.7M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.065	−0.338%	$217K	$12K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.264	−0.127%	$49.3M	$56.2M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.264	−0.127%	$91.3M	$82.0M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.267	−0.124%	$46.9M	$18.6M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.269	−0.122%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.098	−0.303%	$29.2M	$55.2M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.258	−0.134%	$7.6M	$46.0M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.227	−0.166%	$681K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.272	−0.119%	$495K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.254	−0.138%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.214	−0.180%	$2.1M	$1.9M	10x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0100%	1h	94.295	−0.094%	$7.4M	$4.3M	50x	as long as short
HTX HYPE-USDTshort	+0.0100%	4h	94.350	−0.036%	$1.4M	$6.8M	75x
Vest HYPE-PERP	+0.0100%	1h	94.337	−0.050%	—	$243K	5x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.176	−0.221%	$18.3M	$43.4M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.215	−0.179%	$398K	$159K	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0151% / S +0.0021%	1h	94.270	−0.121%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0185%	1h	94.240	−0.153%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0223%	1h	94.281	−0.109%	$20.2M	$30.3M	50x	as long as short
RISEx HYPE/USDC	+0.0249%	1h	94.292	−0.097%	$3.2M	$6.4M	20x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.187	−0.209%	$82K	$123K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.219	−0.175%	$17.0M	$12.4M	75x	as long as short