Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0014%/8h= +1.5% APRpaid last 24h −0.005%

Price spread now: edgeX against Lighter RH−0.088%7-day average −0.030% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$140.139% of the position

Long on Lighter RH Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.067%+$7 on $10k

Price spread, last 7 days+0.072%+$7 · spread now −0.088%, 7d avg −0.030%

Together, before fees+0.138%+ Points / potential airdropLighter RH: Points live · edgeX: Active · farm board+$14 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.059% cheaper against Lighter RH than usual: you would sell low and buy high (spread −0.088% now, against its 7-day average of −0.030%). If the spread goes back, that is −$6 on $10k: about 14 days of funding at the current rate ($0 a day). At the pace of the last 7 days (+0.067% in total) that is about 6.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH HYPE	93.397	0.0096	pay 0.0012% / 1h	35m 36s	$3.1M	$11.6M	20x
Short	edgeX HYPEUSDC	93.315	0.0110	get 0.0055% / 4h	1h 35m	$5.1M	$29.7M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Lighter RH. 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 Lighter RHbpFee edgeXbpOrdersPrice spread, now −0.088%Rate

Funding earned: $2.96
Price spread: −0.088% → −0.030%: −$5.86
Slippage, 4 orders: −$4.91
Fee Lighter RH: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$16.81
Costs to cover: 0.139%
Break-even: 46.7 days

Slippage from Lighter RH: live order book, 3 min ago; edgeX: 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 Lighter RH live order book, 3 min ago	1.50 bp	1.7 bp −$2	3.0 bp −$30	26.2 bp −$2,615	doesn't fit
Sell edgeX live order book, 3 min ago	0.32 bp	4.8 bp −$5	5.0 bp −$50	87.3 bp −$8,729	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	−0.1296%	1h	93.292	−0.112%	$196K	$226K	7x	as long as short
Arcus HYPE-USD	−0.0899%	1h	93.240	−0.168%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0099%	1h	93.300	−0.104%	$699K	$982K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.355	−0.045%	$3K	$331	25x	as long as short
Phemex HYPEUSDT	−0.0062%	8h	93.367	−0.032%	$12.6M	$2.7M	50x	as long as short
01 Exchange HYPEUSD	−0.0056%	1h	93.384	−0.014%	$85K	$344K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0053%	1h	93.379	−0.020%	$22K	$21K	10x	as long as short
Orderly PERP_HYPE_USDC	−0.0045%	4h	93.354	−0.046%	$155K	$634K	20x	as long as short
Bullet HYPE-USD	−0.0016%	1h	93.392	−0.005%	$112K	$577K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.361	−0.039%	$128K	$31K	5x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	93.398	+0.001%	$23K	$322K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.414	+0.018%	$62K	—	150x	as long as short
Aster HYPEUSDT	+0.0020%	4h	93.372	−0.026%	$8.8M	$35.5M	300x	as long as short
Phoenix HYPE	+0.0026%	1h	93.398	+0.001%	$213K	$1.2M	10x	as long as short
BingX HYPE-USDT	+0.0026%	4h	93.345	−0.056%	—	$53.0M	—	as long as short
Bybit HYPEUSDT	+0.0030%	8h	93.371	−0.028%	$321.3M	$277.1M	75x	as long as short
Gate HYPE_USDT	+0.0052%	4h	93.353	−0.047%	$44.5M	$54.8M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0078%	8h	93.385	−0.013%	$114.1M	$302.0M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.376	−0.022%	$16.3M	$61.6M	20x	as long as short
Lighter RH HYPElong	+0.0096%	1h	93.397	long leg	$3.1M	$11.6M	20x
Popdex HYPEUSDT	+0.0096%	1h	93.377	−0.021%	$69K	$1.2M	50x	as long as short
MEXC HYPE_USDT	+0.0096%	4h	93.350	−0.050%	$89.8M	$80.7M	100x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.391	−0.007%	$339K	$162K	20x	as long as short
Binance HYPEUSDT	+0.0098%	4h	93.379	−0.019%	$378.7M	$876.2M	75x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.380	−0.018%	$17K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.377	−0.021%	$5.8M	$43.3M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.433	+0.039%	$2.04B	$653.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.382	−0.016%	$10.0M	$14.6M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.364	−0.035%	$203K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.399	+0.002%	$45.9M	$18.1M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.394	−0.003%	$225.8M	$96.6M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.377	−0.021%	$7.4M	$10.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.367	−0.032%	$31.1M	$53.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.365	−0.035%	$7.5M	$45.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.333	−0.069%	$339K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.388	−0.010%	$666K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.432	+0.038%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.425	+0.030%	$472K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.375	−0.024%	$79K	$170K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.373	−0.026%	$16.2M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.449	+0.056%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.401	+0.004%	$2.0M	$1.9M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.329	−0.072%	$18.4M	$43.6M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.393	−0.004%	$397K	$162K	20x	as long as short
edgeX HYPEUSDCshort	+0.0110%	4h	93.315	−0.088%	$5.1M	$29.7M	30x
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.420	+0.025%	$4.8M	$5.6M	50x	as long as short
HTX HYPE-USDT	+0.0194%	4h	93.546	+0.160%	$1.4M	$6.0M	75x	as long as short
Reya HYPERUSDPERP	+0.0258%	1h	93.384	−0.014%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0277%	8h	93.458	+0.065%	$1.9M	$5.0M	2.3x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0328%	1h	93.481	+0.090%	$7.5M	$4.4M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0156%	1h	93.410	+0.014%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0336%	4h	93.364	−0.035%	$17.0M	$11.6M	75x	as long as short
RISEx HYPE/USDC	+0.0510%	1h	93.461	+0.069%	$3.2M	$6.3M	20x	as long as short
Injective HYPE/USDC PERP	+0.0519%	1h	93.180	−0.232%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0685%	1h	93.444	+0.050%	$20.8M	$29.9M	50x	as long as short