Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0012%/8h= +1.3% APRpaid last 24h +0.003%

Price spread now: GRVT against OKX−0.046%101s7-day average +0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$210.210% of the position

Long on OKX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.048%+$5 on $10k

Price spread, last 7 days+0.036%+$4 · spread now −0.046%, 7d avg +0.022%

Together, before fees+0.084%+ Points / potential airdropGRVT: Active · farm board+$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. GRVT is 0.068% cheaper against OKX than usual: you would sell low and buy high (spread −0.046% now, against its 7-day average of +0.022%). If the spread goes back, that is −$7 on $10k: about 19 days of funding at the current rate ($0 a day). The two prices were read 101 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX HYPE-USDT-SWAP	94.010	0.0088	pay 0.0088% / 8h	3m 46s	$116.0M	$323.1M	50x
Short	GRVT HYPE_USDT_Perp	93.967	0.0100	get 0.0050% / 4h	3m 46s	$7.6M	$45.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against OKX. 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 OKXbpFee GRVTbpOrdersPrice spread, now −0.046%Rate

Funding earned: $2.53
Price spread: −0.046% → +0.022%: −$6.77
Slippage, 4 orders: −$2.02
Fee OKX: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$25.25
Costs to cover: 0.210%
Break-even: 76.7 days

Slippage from OKX: live order book, 5 min ago; GRVT: live order book, 5 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 OKX live order book, 5 min ago	0.05 bp	5.1 bp −$5	6.9 bp −$69	15.8 bp −$1,583	doesn't fit
Sell GRVT live order book, 5 min ago	0.05 bp	4.6 bp −$5	4.9 bp −$49	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	−0.1376%	1h	93.764	−0.262%	$198K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0359%	1h	93.910	−0.107%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	93.870	−0.149%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0127%	1h	93.930	−0.085%	$704K	$923K	10x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	93.976	−0.036%	$86K	$368K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.932	−0.083%	$3K	$331	25x	as long as short
Derive HYPE-PERP	−0.0007%	1h	93.931	−0.085%	$16.4M	$7.2M	10x	as long as short
Orderly PERP_HYPE_USDC	−0.0005%	4h	93.996	−0.015%	$170K	$593K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.987	−0.025%	$128K	$30K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.985	−0.026%	$23K	$329K	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	94.016	+0.006%	$27K	—	150x	as long as short
Phoenix HYPE	+0.0009%	1h	93.978	−0.034%	$217K	$1.2M	10x	as long as short
Aster HYPEUSDT	+0.0014%	4h	94.002	−0.009%	$8.9M	$36.1M	300x	as long as short
Bybit HYPEUSDT	+0.0019%	8h	94.003	−0.007%	$323.6M	$284.0M	75x	as long as short
Phemex HYPEUSDT	+0.0031%	8h	93.972	−0.040%	$12.8M	$2.6M	50x	as long as short
MEXC HYPE_USDT	+0.0046%	4h	94.029	+0.020%	$88.5M	$82.3M	100x	as long as short
Binance HYPEUSDT	+0.0047%	4h	94.018	+0.008%	$384.3M	$898.4M	75x	as long as short
edgeX HYPEUSDC	+0.0064%	4h	93.859	−0.160%	$5.1M	$29.7M	30x	as long as short
Popdex HYPEUSDT	+0.0064%	1h	93.980	−0.032%	$60K	$1.2M	50x	as long as short
Gate HYPE_USDT	+0.0066%	4h	94.018	+0.009%	$44.2M	$60.0M	75x	as long as short
Bullet HYPE-USD	+0.0083%	1h	93.971	−0.041%	$112K	$578K	20x	as long as short
OKX HYPE-USDT-SWAPlong	+0.0088%	8h	94.010	long leg	$116.0M	$323.1M	50x
Lighter HYPE	+0.0096%	1h	94.044	+0.036%	$18.9M	$60.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.016	+0.006%	$3.1M	$12.3M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.991	−0.020%	$400K	$318K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.970	−0.043%	$36K	$1.6M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	94.014	+0.004%	$341K	$171K	20x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.986	−0.026%	$5.7M	$44.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.098	+0.094%	$2.05B	$679.9M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.005	−0.005%	$10.1M	$14.5M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.889	−0.129%	$205K	$7K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.010	0.000%	$46.5M	$18.6M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	94.028	+0.019%	$227.8M	$102.2M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.012	+0.002%	—	$54.2M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.051	+0.044%	$7.9M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.812	−0.210%	$31.3M	$54.2M	—	as long as short
GRVT HYPE_USDT_Perpshort	+0.0100%	4h	93.967	−0.046%	$7.6M	$45.6M	10x
ApeX Omni HYPEUSDT	+0.0100%	1h	93.849	−0.171%	$340K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.908	−0.108%	$679K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.987	−0.025%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.010	0.000%	$472K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	94.001	−0.010%	$76K	$171K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.019	+0.010%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.992	−0.019%	$2.0M	$2.0M	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.410	+0.425%	$31K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.002	−0.008%	$18.3M	$42.8M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	94.060	+0.053%	$4.9M	$5.7M	50x	as long as short
Kalshi KXHYPEPERP	+0.0155%	8h	93.993	−0.018%	$1.9M	$5.1M	2.3x	as long as short
BloFin HYPE-USDT	+0.0187%	4h	93.859	−0.161%	$17.0M	$12.5M	75x	as long as short
HTX HYPE-USDT	+0.0193%	4h	94.150	+0.149%	$1.5M	$7.8M	75x	as long as short
Reya HYPERUSDPERP	+0.0250%	1h	93.978	−0.034%	$77K	$142K	15x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	94.025	+0.016%	$2.8M	$6.8M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0163%	1h	94.015	+0.006%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0377%	1h	94.089	+0.084%	$7.5M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0577%	1h	94.112	+0.109%	$21.0M	$29.5M	50x	as long as short