Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0178%/8h= +19.5% APRpaid last 24h +0.040%

Price spread now: RISEx against MEXC+0.013%7-day average −0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$11as in the Price arb table

costs, in and out, $10k−$130.134% of the position

Long on MEXC Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.119%+$12 on $10k

Price spread, last 7 days+0.023%+$2 · spread now +0.013%, 7d avg −0.009%

Together, before fees+0.142%+$14 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and RISEx is 0.022% dearer against MEXC than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC HYPE_USDT	94.282	0.0044	pay 0.0022% / 4h	3h 36m	$89.3M	$82.3M	100x
Short	RISEx HYPE/USDC	94.294	0.0222	get 0.0028% / 1h	36m 04s	$2.8M	$6.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now +0.013%Rate

Funding earned: $37.41
Price spread: +0.013% → −0.009%: $2.16
Slippage, 4 orders: −$3.41
Fee MEXC: 2 bp × 2 orders: −$4
Fee RISEx: 3 bp × 2 orders: −$6
Net: $26.16
Costs to cover: 0.134%
Break-even: 2.1 days

Slippage from MEXC: live order book, 3 min ago; RISEx: 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 MEXC live order book, 3 min ago	0.05 bp	2.1 bp −$2	3.0 bp −$30	12.8 bp −$1,280	52.4 bp −$26.2K
Sell RISEx live order book, 3 min ago	1.65 bp	4.6 bp −$5	6.4 bp −$64	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
Hibachi HYPE/USDT-P	−0.1464%	1h	94.187	−0.101%	$199K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0625%	1h	94.156	−0.134%	$1.2M	$3.8M	10x	as long as short
Phemex HYPEUSDT	−0.0277%	8h	94.233	−0.052%	$12.8M	$2.6M	50x	as long as short
Aftermath Perps HYPEUSD	−0.0262%	1h	94.121	−0.171%	$22K	$23K	10x	as long as short
dYdX HYPE-USD	−0.0193%	1h	94.245	−0.039%	$129K	$30K	5x	as long as short
Ondo Perps HYPE-USD.P	−0.0161%	1h	94.130	−0.161%	$710K	$945K	10x	as long as short
Bullet HYPE-USD	−0.0093%	1h	94.232	−0.053%	$112K	$580K	20x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	94.274	−0.008%	$86K	$361K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.241	−0.043%	$3K	$331	25x	as long as short
Bybit HYPEUSDT	−0.0021%	8h	94.260	−0.023%	$323.9M	$280.8M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_HYPE_USDC	−0.0012%	4h	94.264	−0.019%	$166K	$599K	20x	as long as short
Perpl HYPE	0.0000%	43m	94.262	−0.021%	$23K	$327K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	94.283	+0.001%	$27K	—	150x	as long as short
Gate HYPE_USDT	+0.0008%	4h	94.276	−0.006%	$44.6M	$59.5M	75x	as long as short
Aster HYPEUSDT	+0.0023%	4h	94.279	−0.003%	$8.9M	$36.1M	300x	as long as short
Phoenix HYPE	+0.0034%	1h	94.173	−0.116%	$219K	$1.2M	10x	as long as short
MEXC HYPE_USDTlong	+0.0044%	4h	94.282	long leg	$89.3M	$82.3M	100x
Derive HYPE-PERP	+0.0048%	1h	94.217	−0.069%	$16.5M	$7.3M	10x	as long as short
Binance HYPEUSDT	+0.0049%	4h	94.278	−0.004%	$384.9M	$893.3M	75x	as long as short
edgeX HYPEUSDC	+0.0058%	4h	94.030	−0.267%	$5.1M	$29.8M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0081%	8h	94.280	−0.002%	$116.3M	$319.6M	50x	as long as short
Lighter HYPE	+0.0096%	1h	94.329	+0.050%	$19.1M	$58.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.297	+0.016%	$3.1M	$12.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.257	−0.027%	$63K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	94.266	−0.017%	$401K	$193K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	94.293	+0.011%	$342K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.270	−0.013%	$24K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.263	−0.021%	$6.7M	$44.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.376	+0.100%	$2.06B	$675.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.272	−0.011%	$10.2M	$14.6M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.297	+0.016%	$46.7M	$18.2M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	94.281	−0.001%	$228.7M	$100.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.261	−0.022%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.293	+0.012%	$7.7M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.220	−0.065%	$31.8M	$54.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.045	−0.251%	$7.6M	$45.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.037	−0.260%	$340K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.245	−0.039%	$682K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.277	−0.005%	—	$271K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.271	−0.012%	$481K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	94.479	+0.209%	$77K	$171K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.330	+0.051%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.279	−0.003%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.120	−0.172%	$205K	$4K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.250	−0.034%	$19.1M	$44.1M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	94.310	+0.030%	$5.0M	$5.5M	50x	as long as short
BloFin HYPE-USDT	+0.0182%	4h	94.242	−0.042%	$17.1M	$12.3M	75x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.390	+0.115%	$31K	$338K	12x	as long as short
Kalshi KXHYPEPERP	+0.0206%	8h	94.313	+0.033%	$1.9M	$5.1M	2.3x	as long as short
RISEx HYPE/USDCshort	+0.0222%	1h	94.294	+0.013%	$2.8M	$6.7M	20x
Reya HYPERUSDPERP	+0.0251%	1h	94.252	−0.032%	$78K	$145K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0157%	1h	94.278	−0.004%	$1.5M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0365%	1h	94.356	+0.078%	$7.5M	$4.7M	50x	as long as short
HTX HYPE-USDT	+0.0445%	4h	94.442	+0.170%	$1.5M	$6.3M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0669%	1h	94.372	+0.095%	$21.1M	$29.7M	50x	as long as short