Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0196%/8h= +21.5% APRpaid last 24h +0.033%

Price spread now: Reya against MEXC−0.011%7-day average −0.017% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on MEXC Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.001%$0 on $10k

Price spread, last 3 days (all we have)+0.174%+$17 · spread now −0.011%, 7d avg −0.017%

Together, before fees+0.175%+ Points / potential airdropReya: Active · farm board+$18 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.017%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.001% in total (about 0.1% 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.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC HYPE_USDT	93.867	0.0056	pay 0.0028% / 4h	3h 07m	$88.4M	$83.3M	100x
Short	Reya HYPERUSDPERP	93.857	0.0252	get 0.0032% / 1h	7m 09s	$79K	$143K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against MEXC. 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 MEXCbpFee ReyabpOrdersPrice spread, now −0.011%Rate

Funding earned: $41.22
Price spread: −0.011% → −0.017%: $0.57
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Reya: 3 bp × 2 orders: −$6
Net: $31.79
Costs to cover: 0.100%
Break-even: 1.6 days

Slippage unknown: MEXC: live order book, 2 min ago; Reya: no order-book sample. Net counts fees only.

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 MEXC live order book, 2 min ago	0.27 bp	2.3 bp −$2	2.9 bp −$29	13.3 bp −$1,334	47.6 bp −$23.8K
Sell Reya no order-book sample	—	—	—	—	—

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1152%	1h	93.929	+0.066%	$199K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0625%	1h	93.779	−0.094%	$1.2M	$3.9M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0207%	1h	93.950	+0.088%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0097%	1h	93.860	−0.007%	$710K	$958K	10x	as long as short
dYdX HYPE-USD	−0.0085%	1h	93.911	+0.047%	$129K	$31K	5x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	93.865	−0.002%	$86K	$359K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.895	+0.030%	$3K	$331	25x	as long as short
Phemex HYPEUSDT	−0.0054%	8h	93.917	+0.053%	$12.8M	$2.6M	50x	as long as short
Bullet HYPE-USD	−0.0049%	1h	93.849	−0.019%	$113K	$580K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0032%	4h	93.846	−0.022%	$159K	$643K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate HYPE_USDT	−0.0016%	4h	93.862	−0.005%	$44.4M	$60.3M	75x	as long as short
Perpl HYPE	0.0000%	43m	93.909	+0.045%	$23K	$327K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.886	+0.021%	$27K	—	150x	as long as short
Aster HYPEUSDT	+0.0009%	4h	93.876	+0.010%	$8.9M	$36.0M	300x	as long as short
Derive HYPE-PERP	+0.0010%	1h	93.817	−0.053%	$16.4M	$7.6M	10x	as long as short
Bybit HYPEUSDT	+0.0020%	8h	93.850	−0.018%	$323.0M	$279.0M	75x	as long as short
Phoenix HYPE	+0.0034%	1h	94.045	+0.190%	$214K	$1.2M	10x	as long as short
Binance HYPEUSDT	+0.0054%	4h	93.865	−0.002%	$383.3M	$893.7M	75x	as long as short
edgeX HYPEUSDC	+0.0055%	4h	94.001	+0.143%	$5.1M	$29.7M	30x	as long as short
MEXC HYPE_USDTlong	+0.0056%	4h	93.867	long leg	$88.4M	$83.3M	100x
OKX HYPE-USDT-SWAP	+0.0072%	8h	93.835	−0.034%	$116.0M	$314.8M	50x	as long as short
Bluefin HYPE-PERP	+0.0088%	1h	93.848	−0.020%	$76K	$170K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.900	+0.035%	$18.9M	$60.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.886	+0.020%	$3.0M	$12.2M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.864	−0.003%	$64K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.840	−0.029%	$399K	$180K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.921	+0.058%	$341K	$165K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.890	+0.025%	$31K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.874	+0.007%	$6.6M	$44.6M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.928	+0.065%	$2.05B	$668.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.923	+0.060%	$10.1M	$14.7M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.885	+0.019%	$46.6M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.870	+0.003%	$227.3M	$100.2M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.861	−0.006%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.818	−0.052%	$7.9M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.920	+0.056%	$31.4M	$53.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.999	+0.141%	$7.6M	$46.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.020	+0.163%	$340K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.897	+0.032%	$670K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.913	+0.049%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.898	+0.033%	$474K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.917	+0.053%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.871	+0.004%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.894	+0.029%	$204K	$10K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.849	−0.019%	$18.4M	$45.1M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.900	+0.035%	$4.9M	$5.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	93.810	−0.061%	$31K	$338K	12x	as long as short
BloFin HYPE-USDT	+0.0218%	4h	93.919	+0.055%	$17.1M	$12.1M	75x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	93.915	+0.051%	$2.7M	$6.7M	20x	as long as short
Kalshi KXHYPEPERP	+0.0244%	8h	93.947	+0.085%	$1.9M	$5.1M	2.3x	as long as short
Reya HYPERUSDPERPshort	+0.0252%	1h	93.857	−0.011%	$79K	$143K	15x
GMX HYPE/USD [WBTC.b-USDC]	L +0.0335% / S −0.0156%	1h	93.886	+0.020%	$1.4M	—	100x	as long as short
HTX HYPE-USDT	+0.0367%	4h	94.069	+0.215%	$1.5M	$5.9M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0410%	1h	93.963	+0.102%	$7.5M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0672%	1h	93.955	+0.093%	$20.9M	$29.8M	50x	as long as short