Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.006%

Price spread now: Nado against OKX+0.070%7-day average +0.018% · 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−$13as in the Price arb table

costs, in and out, $10k−$180.182% of the position

Long on OKX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.013%+$1 on $10k

Price spread, last 7 days−0.044%−$4 · spread now +0.070%, 7d avg +0.018%

Together, before fees−0.031%+ Points / potential airdropNado: Active · farm board−$3 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Nado is 0.053% dearer against OKX than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX HYPE-USDT-SWAP	93.048	0.0100	pay 0.0100% / 8h	1h 33m	$113.8M	$313.6M	50x
Short	Nado HYPE-PERP	93.113	0.0100	get 0.0012% / 1h	33m 30s	$5.9M	$44.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.070%Rate

Funding earned: $0
Price spread: +0.070% → +0.018%: $5.26
Slippage, 4 orders: −$1.21
Fee OKX: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$12.95
Costs to cover: 0.182%
Break-even: never at this rate

Slippage from OKX: live order book, 6 min ago; Nado: live order book, 6 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, 6 min ago	0.05 bp	5.5 bp −$5	7.2 bp −$72	17.1 bp −$1,705	doesn't fit
Sell Nado live order book, 6 min ago	0.05 bp	3.9 bp −$4	6.2 bp −$62	26.9 bp −$2,692	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
Aftermath Perps HYPEUSD	−0.0380%	1h	93.133	+0.091%	$22K	$22K	10x	as long as short
Hibachi HYPE/USDT-P	−0.0208%	1h	93.124	+0.081%	$197K	$230K	7x	as long as short
Arcus HYPE-USD	−0.0131%	1h	93.094	+0.049%	$1.2M	$4.0M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0115%	1h	93.060	+0.013%	$698K	$923K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.134	+0.092%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0024%	1h	93.129	+0.087%	$90K	$362K	20x	as long as short
Popdex HYPEUSDT	−0.0008%	1h	93.107	+0.063%	$57K	$1.2M	50x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.124	+0.081%	$127K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.070	+0.023%	$23K	$331K	10x	as long as short
Aster HYPEUSDT	+0.0001%	4h	93.093	+0.049%	$8.8M	$36.0M	300x	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 −0.0001%	1h	93.102	+0.058%	$20K	—	150x	as long as short
Bullet HYPE-USD	+0.0025%	1h	93.057	+0.010%	$111K	$579K	20x	as long as short
Bybit HYPEUSDT	+0.0025%	8h	93.060	+0.013%	$323.2M	$287.1M	75x	as long as short
Orderly PERP_HYPE_USDC	+0.0028%	4h	93.072	+0.026%	$172K	$519K	20x	as long as short
Derive HYPE-PERP	+0.0031%	1h	93.064	+0.017%	$16.3M	$7.1M	10x	as long as short
Phoenix HYPE	+0.0034%	1h	93.106	+0.062%	$214K	$1.2M	10x	as long as short
Gate HYPE_USDT	+0.0040%	4h	93.055	+0.008%	$43.9M	$58.1M	75x	as long as short
Binance HYPEUSDT	+0.0077%	4h	93.075	+0.029%	$382.4M	$894.0M	75x	as long as short
MEXC HYPE_USDT	+0.0078%	4h	93.104	+0.060%	$89.9M	$81.8M	100x	as long as short
Lighter HYPE	+0.0096%	1h	93.175	+0.137%	$18.5M	$58.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.154	+0.114%	$3.1M	$12.1M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0098%	8h	93.142	+0.101%	$338K	$170K	20x	as long as short
edgeX HYPEUSDC	+0.0099%	4h	93.079	+0.033%	$5.1M	$29.6M	30x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.120	+0.077%	$34K	$1.6M	10x	as long as short
Nado HYPE-PERPshort	+0.0100%	1h	93.113	+0.070%	$5.9M	$44.1M	10x
Hyperliquid HYPE	+0.0100%	1h	93.146	+0.105%	$2.02B	$670.6M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.170	+0.131%	$10.0M	$14.3M	20x	as long as short
OKX HYPE-USDT-SWAPlong	+0.0100%	8h	93.048	long leg	$113.8M	$313.6M	50x
Bulk HYPE-USD	+0.0100%	1h	93.390	+0.368%	$204K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.131	+0.089%	$47.1M	$18.9M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.097	+0.053%	$225.6M	$103.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.069	+0.023%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.122	+0.080%	$7.8M	$11.2M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.034	−0.015%	$29.0M	$50.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.144	+0.104%	$7.5M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.135	+0.094%	$412K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.066	+0.019%	$673K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.118	+0.075%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.136	+0.095%	$492K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.079	+0.033%	$75K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.071	+0.025%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.105	+0.061%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.100	+0.056%	$12.7M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.127	+0.085%	$18.2M	$42.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.111	+0.067%	$396K	$318K	20x	as long as short
Kalshi KXHYPEPERP	+0.0105%	8h	93.188	+0.150%	$1.9M	$5.3M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.180	+0.142%	$4.9M	$5.7M	50x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	92.970	−0.084%	$30K	$338K	12x	as long as short
Reya HYPERUSDPERP	+0.0247%	1h	93.057	+0.009%	$78K	$158K	15x	as long as short
HTX HYPE-USDT	+0.0251%	4h	93.243	+0.210%	$1.5M	$7.7M	75x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.177	+0.139%	$2.8M	$6.8M	20x	as long as short
BloFin HYPE-USDT	+0.0323%	4h	93.167	+0.128%	$16.9M	$12.5M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0158%	1h	93.095	+0.051%	$1.5M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0373%	1h	93.209	+0.173%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0466%	1h	93.218	+0.183%	$20.8M	$28.9M	50x	as long as short