Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.039%

Price spread now: SoDEX against Hyperliquid−0.036%7-day average −0.053% · 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−$21as in the Price arb table

costs, in and out, $10k−$230.229% of the position

Long on Hyperliquid Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.054%−$5 on $10k

Price spread, last 4 days (all we have)−0.121%−$12 · spread now −0.036%, 7d avg −0.053%

Together, before fees−0.175%+ Points / potential airdropHyperliquid: Season 2 · farm board−$17 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid HYPE	92.892	0.0100	pay 0.0013% / 1h	3m 35s	$2.02B	$663.2M	10x
Short	SoDEX HYPE-USD	92.859	0.0100	get 0.0013% / 1h	3m 35s	$2.0M	$2.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.036%Rate

Funding earned: $0
Price spread: −0.036% → −0.053%: $1.77
Slippage, 4 orders: −$5.88
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$21.11
Costs to cover: 0.229%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 11 min ago; SoDEX: 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 Hyperliquid live order book, 11 min ago	0.05 bp	4.6 bp −$5	6.1 bp −$61	doesn't fit	doesn't fit
Sell SoDEX live order book, just now	0.05 bp	6.6 bp −$7	12.8 bp −$128	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
Arcus HYPE-USD	−0.0948%	1h	92.818	−0.080%	$1.1M	$3.9M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0368%	1h	92.692	−0.215%	$194K	$227K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0267%	1h	92.787	−0.113%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.865	−0.029%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0065%	4h	92.831	−0.066%	$157K	$658K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.865	−0.029%	$127K	$29K	5x	as long as short
01 Exchange HYPEUSD	0.0000%	1h	92.876	−0.017%	$87K	$361K	20x	as long as short
Perpl HYPE	0.0000%	43m	92.825	−0.072%	$22K	$302K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.886	−0.007%	$62K	—	150x	as long as short
Bullet HYPE-USD	+0.0027%	1h	92.815	−0.083%	$111K	$579K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex HYPEUSDT	+0.0027%	8h	92.851	−0.044%	$12.5M	$2.7M	50x	as long as short
BingX HYPE-USDT	+0.0036%	4h	92.860	−0.034%	—	$53.5M	—	as long as short
Ondo Perps HYPE-USD.P	+0.0037%	1h	92.800	−0.099%	$697K	$1.1M	10x	as long as short
Phoenix HYPE	+0.0043%	1h	92.755	−0.147%	$210K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0045%	8h	92.844	−0.052%	$316.9M	$281.1M	75x	as long as short
Aster HYPEUSDT	+0.0063%	4h	92.858	−0.037%	$8.7M	$36.1M	300x	as long as short
Bitget HYPEUSDT	+0.0090%	4h	92.851	−0.044%	$224.7M	$98.6M	75x	as long as short
edgeX HYPEUSDC	+0.0094%	4h	92.749	−0.154%	$4.9M	$29.6M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	92.886	−0.006%	$339K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.870	−0.024%	$16.1M	$62.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.877	−0.016%	$3.1M	$11.8M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.860	−0.034%	$69K	$1.1M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0096%	8h	92.863	−0.031%	$113.9M	$303.8M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.860	−0.034%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.859	−0.035%	$7.5M	$45.6M	10x	as long as short
Hyperliquid HYPElong	+0.0100%	1h	92.892	long leg	$2.02B	$663.2M	10x
Pacifica HYPE	+0.0100%	1h	92.886	−0.006%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.868	−0.026%	$373.1M	$901.7M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.800	−0.099%	$202K	$13K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	92.851	−0.044%	$44.5M	$55.4M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.861	−0.033%	$88.3M	$81.2M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.862	−0.032%	$46.1M	$18.4M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.864	−0.030%	$7.3M	$11.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.689	−0.219%	$28.5M	$57.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.776	−0.125%	$7.5M	$46.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.773	−0.128%	$350K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.827	−0.070%	$667K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.856	−0.039%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.870	−0.024%	$468K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.840	−0.056%	$79K	$168K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.824	−0.074%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.779	−0.122%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USDshort	+0.0100%	1h	92.859	−0.036%	$2.0M	$2.0M	10x
HTX HYPE-USDT	+0.0100%	4h	92.950	+0.062%	$1.4M	$6.3M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.826	−0.071%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.857	−0.038%	$393K	$164K	20x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	93.000	+0.116%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.900	+0.009%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0227%	8h	92.832	−0.065%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0263%	1h	92.841	−0.055%	$79K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.857	−0.038%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0331%	1h	92.913	+0.022%	$20.6M	$30.4M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.780	−0.121%	$16.8M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0385%	1h	92.954	+0.067%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.920	+0.030%	$3.2M	$6.4M	20x	as long as short