Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.064%

Price spread now: HTX against OKX+0.071%7-day average +0.068% · you sell dearer than you buy

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$320.316% of the position

Long on OKX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.107%+$11 on $10k

Price spread, last 4 days (all we have)−0.152%−$15 · spread now +0.071%, 7d avg +0.068%

Together, before fees−0.045%−$5 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX HYPE-USDT-SWAP	93.514	0.0100	pay 0.0100% / 8h	2h 53m	$114.9M	$308.5M	50x
Short	HTX HYPE-USDT	93.580	0.0100	get 0.0050% / 4h	2h 53m	$1.4M	$6.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.071%Rate

Funding earned: $0
Price spread: +0.071% → +0.068%: $0.23
Slippage, 4 orders: −$9.64
Fee OKX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$31.41
Costs to cover: 0.316%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; HTX: 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	6.1 bp −$6	8.5 bp −$85	18.8 bp −$1,882	doesn't fit
Sell HTX live order book, 5 min ago	2.83 bp	10.7 bp −$11	14.4 bp −$144	49.0 bp −$4,897	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	−0.1904%	1h	93.390	−0.133%	$196K	$232K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0363%	1h	93.429	−0.091%	$22K	$21K	10x	as long as short
Bullet HYPE-USD	−0.0165%	1h	93.384	−0.139%	$112K	$578K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.434	−0.086%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0040%	1h	93.407	−0.114%	$87K	$365K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0035%	4h	93.401	−0.121%	$146K	$663K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0022%	1h	93.540	+0.028%	$705K	$1.2M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.453	−0.065%	$128K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.423	−0.097%	$22K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.436	−0.084%	$62K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus HYPE-USD	+0.0011%	1h	93.366	−0.158%	$1.0M	$3.9M	10x	as long as short
Bitget HYPEUSDT	+0.0022%	4h	93.513	−0.001%	$226.3M	$99.1M	75x	as long as short
Bybit HYPEUSDT	+0.0024%	8h	93.510	−0.004%	$318.1M	$283.6M	75x	as long as short
Phemex HYPEUSDT	+0.0025%	8h	93.449	−0.070%	$12.6M	$2.7M	50x	as long as short
Phoenix HYPE	+0.0026%	1h	93.546	+0.034%	$209K	$1.2M	10x	as long as short
Bluefin HYPE-PERP	+0.0058%	1h	93.409	−0.112%	$79K	$167K	20x	as long as short
Gate HYPE_USDT	+0.0092%	4h	93.480	−0.036%	$46.3M	$53.8M	75x	as long as short
edgeX HYPEUSDC	+0.0092%	4h	93.577	+0.068%	$5.0M	$29.9M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	93.444	−0.075%	$340K	$162K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.446	−0.073%	$16.1M	$62.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.451	−0.067%	$3.1M	$11.4M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.393	−0.129%	$77K	$1.1M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.420	−0.101%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.405	−0.117%	$7.0M	$47.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.565	+0.055%	$2.04B	$665.3M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.467	−0.050%	$8.7M	$36.4M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.433	−0.087%	$10.1M	$15.3M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.472	−0.045%	$374.9M	$910.7M	75x	as long as short
OKX HYPE-USDT-SWAPlong	+0.0100%	8h	93.514	long leg	$114.9M	$308.5M	50x
Bulk HYPE-USD	+0.0100%	1h	93.328	−0.199%	$203K	$3K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.500	−0.015%	$92.1M	$80.1M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.458	−0.060%	$46.6M	$18.5M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.499	−0.016%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.440	−0.079%	$7.3M	$11.1M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.529	+0.016%	$28.7M	$56.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.637	+0.131%	$7.6M	$47.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.532	+0.019%	$343K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.573	+0.063%	$669K	$2.9M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.487	−0.029%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.443	−0.076%	$490K	$2.7M	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.399	−0.123%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.382	−0.141%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.435	−0.084%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDTshort	+0.0100%	4h	93.580	+0.071%	$1.4M	$6.4M	75x
Extended HYPE-USD	+0.0104%	1h	93.431	−0.088%	$18.1M	$43.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.409	−0.112%	$395K	$161K	20x	as long as short
Injective HYPE/USDC PERP	+0.0122%	1h	93.470	−0.047%	$30K	$339K	12x	as long as short
Kalshi KXHYPEPERP	+0.0133%	8h	93.420	−0.101%	$1.8M	$5.6M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.470	−0.047%	$4.8M	$5.6M	50x	as long as short
Reya HYPERUSDPERP	+0.0267%	1h	93.391	−0.132%	$80K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0154%	1h	93.431	−0.089%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.441	−0.078%	$16.9M	$11.9M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0341%	1h	93.508	−0.007%	$20.8M	$29.6M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0392%	1h	93.518	+0.004%	$7.5M	$4.0M	50x	as long as short
RISEx HYPE/USDC	+0.0527%	1h	93.450	−0.068%	$3.2M	$6.3M	20x	as long as short