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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
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Alert: spread
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Funding you earn now, next payment 00:00 UTC+0.0304%/8h= +33.3% APRpaid last 24h +0.058%
Price spread now: Hyperliquid against MEXC+0.100%7-day average +0.002% · you sell dearer than you buy
Net, funding: paid 7d − costs−$5as in the Funding arb table
Net, price: spread back to 7d avg − costs−$3as in the Price arb table
costs, in and out, $10k−$130.132% of the position
Long on MEXCShort on Hyperliquid
What this pair did over the last
the charts below follow
Funding, last 7 days+0.079%+$8 on $10k
Price spread, last 7 days−0.104%−$10 · spread now +0.100%, 7d avg +0.002%
Together, before fees−0.025%+ Points / potential airdropHyperliquid: Season 2 · farm board−$2 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Hyperliquid is 0.099% dearer against MEXC than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.002%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.079% in total (about 4.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongMEXC HYPE_USDT93.7250.0062pay 0.0031% / 4h58m 57s$90.7M$80.2M100x
ShortHyperliquid HYPE93.8190.0366get 0.0046% / 1h58m 57s$2.04B$666.3M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hyperliquid against MEXC. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$63.87
Price spread: +0.100% → +0.002%
$9.85
Slippage, 4 orders
−$0.21
Fee MEXC: 2 bp × 2 orders
−$4
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
$60.51
Costs to cover
0.132%
Break-even
0.4 days
Slippage from MEXC: live order book, 5 min ago; Hyperliquid: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy MEXC live order book, 5 min ago0.05 bp2.1 bp −$22.4 bp −$249.6 bp −$96334.3 bp −$17.1K
Sell Hyperliquid live order book, 5 min ago0.05 bp4.6 bp −$55.2 bp −$52doesn't fitdoesn't fit

HYPE on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aftermath Perps HYPEUSD−0.0489%1h93.552−0.185%$22K$22K10xas long as short
Hibachi HYPE/USDT-P−0.0464%1h93.565−0.171%$198K$228K7xas long as short
Arcus HYPE-USD−0.0233%1h93.659−0.070%$1.2M$3.8M10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.776+0.054%$3K$33125xas long as short
dYdX HYPE-USD0.0000%1h93.819+0.100%$128K$32K5xas long as short
Perpl HYPE0.0000%43m93.745+0.021%$23K$330K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0002%1h93.780+0.059%$28K—150xas long as short
Orderly PERP_HYPE_USDC+0.0014%4h93.761+0.038%$176K$524K20xas long as short
Bybit HYPEUSDT+0.0019%8h93.707−0.019%$324.1M$280.4M75xas long as short
Aster HYPEUSDT+0.0020%4h93.758+0.035%$8.9M$35.7M300xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Phoenix HYPE+0.0034%1h93.753+0.030%$215K$1.2M10xas long as short
01 Exchange HYPEUSD+0.0040%1h93.790+0.069%$91K$355K20xas long as short
Derive HYPE-PERP+0.0061%1h93.704−0.022%$16.4M$6.9M10xas long as short
MEXC HYPE_USDTlong+0.0062%4h93.725long leg$90.7M$80.2M100x
Gate HYPE_USDT+0.0066%4h93.718−0.007%$44.2M$57.7M75xas long as short
Binance HYPEUSDT+0.0067%4h93.728+0.003%$384.8M$885.1M75xas long as short
edgeX HYPEUSDC+0.0071%4h93.562−0.174%$5.1M$29.7M30xas long as short
Phemex HYPEUSDT+0.0078%8h93.696−0.031%$12.8M$2.6M50xas long as short
Ondo Perps HYPE-USD.P+0.0084%1h93.690−0.037%$701K$901K10xas long as short
Lighter HYPE+0.0096%1h93.803+0.083%$18.7M$58.5M20xas long as short
Lighter RH HYPE+0.0096%1h93.794+0.074%$3.0M$12.1M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.749+0.026%$63K$1.2M50xas long as short
Aevo HYPE-PERP+0.0096%1h93.727+0.002%$399K$318K20xas long as short
Paradex HYPE-USD-PERP+0.0099%8h93.769+0.047%$341K$169K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.730+0.005%$29K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.769+0.047%$5.9M$44.1M10xas long as short
Pacifica HYPE+0.0100%1h93.790+0.070%$10.1M$14.5M20xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.726+0.001%$114.6M$313.6M50xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.734+0.010%$47.2M$18.3M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.718−0.007%$227.3M$102.3M75xas long as short
BingX HYPE-USDT+0.0100%4h93.714−0.012%—$53.9M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.764+0.042%$7.9M$10.5M20xas long as short
Variational Omni HYPE+0.0100%8h93.552−0.184%$30.9M$51.8M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.616−0.116%$7.5M$45.5M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.565−0.171%$416K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.677−0.051%$677K$2.5M20xas long as short
Vest HYPE-PERP+0.0100%1h93.756+0.033%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.772+0.050%$496K$2.5M20xas long as short
Bullet HYPE-USD+0.0100%1h93.753+0.030%$112K$577K20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.764+0.042%$76K$166K20xas long as short
SunX HYPE-USDT+0.0100%4h93.820+0.101%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.759+0.036%$2.0M$2.0M10xas long as short
Bulk HYPE-USD+0.0100%1h93.680−0.048%$205K$7K10xas long as short
Injective HYPE/USDC PERP+0.0104%1h93.680−0.048%$30K$338K12xas long as short
Extended HYPE-USD+0.0104%1h93.696−0.031%$18.3M$41.6M50xas long as short
Kalshi KXHYPEPERP+0.0120%8h93.804+0.084%$1.9M$5.1M2.3xas long as short
Coinbase International HYPE-PERP-INTX+0.0152%1h93.790+0.069%$4.9M$5.7M50xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0219%1h93.849+0.132%$7.4M$4.5M50xas long as short
HTX HYPE-USDT+0.0219%4h93.915+0.203%$1.5M$7.7M75xas long as short
Reya HYPERUSDPERP+0.0248%1h93.740+0.016%$77K$155K15xas long as short
BloFin HYPE-USDT+0.0267%4h93.753+0.030%$17.0M$12.3M75xas long as short
RISEx HYPE/USDC+0.0284%1h93.796+0.076%$2.8M$6.8M20xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0340% / S −0.0165%1h93.752+0.029%$1.4M—100xas long as short
Hyperliquid HYPEshort+0.0366%1h93.819+0.100%$2.04B$666.3M10x
Kraken Futures PF_HYPEUSD+0.0578%1h93.876+0.161%$21.0M$28.9M50xas long as short