Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.024%

Price spread now: SoDEX against OKX+0.034%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−$24as in the Price arb table

costs, in and out, $10k−$260.259% of the position

Long on OKX Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.027%+$3 on $10k

Price spread, last 4 days (all we have)−0.052%−$5 · spread now +0.034%, 7d avg +0.018%

Together, before fees−0.025%−$3 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	93.411	0.0100	pay 0.0100% / 8h	2h 54m	$114.8M	$308.0M	50x
Short	SoDEX HYPE-USD	93.443	0.0100	get 0.0013% / 1h	54m 52s	$2.0M	$1.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.034%Rate

Funding earned: $0
Price spread: +0.034% → +0.018%: $1.66
Slippage, 4 orders: −$7.93
Fee OKX: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$24.26
Costs to cover: 0.259%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; SoDEX: live order book, 4 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, 4 min ago	0.05 bp	6.1 bp −$6	8.5 bp −$85	18.8 bp −$1,882	doesn't fit
Sell SoDEX live order book, 4 min ago	0.38 bp	7.2 bp −$7	12.9 bp −$129	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	−0.1904%	1h	93.383	−0.030%	$196K	$232K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0360%	1h	93.438	+0.029%	$22K	$21K	10x	as long as short
Bullet HYPE-USD	−0.0158%	1h	93.388	−0.024%	$112K	$578K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.530	+0.127%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0040%	1h	93.442	+0.033%	$87K	$365K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0036%	4h	93.427	+0.017%	$146K	$663K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.530	+0.128%	$128K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.466	+0.058%	$22K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.439	+0.030%	$62K	—	150x	as long as short
Arcus HYPE-USD	+0.0011%	1h	93.413	+0.002%	$1.0M	$3.9M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps HYPE-USD.P	+0.0014%	1h	93.540	+0.138%	$705K	$1.2M	10x	as long as short
Bitget HYPEUSDT	+0.0022%	4h	93.442	+0.033%	$226.1M	$99.1M	75x	as long as short
Phemex HYPEUSDT	+0.0022%	8h	93.469	+0.062%	$12.6M	$2.7M	50x	as long as short
Bybit HYPEUSDT	+0.0026%	8h	93.401	−0.011%	$317.7M	$283.6M	75x	as long as short
Phoenix HYPE	+0.0026%	1h	93.546	+0.145%	$209K	$1.2M	10x	as long as short
Bluefin HYPE-PERP	+0.0077%	1h	93.400	−0.012%	$79K	$167K	20x	as long as short
edgeX HYPEUSDC	+0.0092%	4h	93.577	+0.178%	$5.0M	$29.9M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	93.489	+0.083%	$340K	$162K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.451	+0.043%	$16.1M	$62.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.459	+0.051%	$3.1M	$11.4M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.427	+0.017%	$76K	$1.1M	50x	as long as short
Gate HYPE_USDT	+0.0096%	4h	93.414	+0.003%	$46.3M	$53.8M	75x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.440	+0.031%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.412	+0.001%	$7.0M	$47.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.490	+0.085%	$2.04B	$667.2M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.422	+0.012%	$8.7M	$36.4M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.499	+0.095%	$10.1M	$15.3M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.409	−0.002%	$374.6M	$911.3M	75x	as long as short
OKX HYPE-USDT-SWAPlong	+0.0100%	8h	93.411	long leg	$114.8M	$308.0M	50x
Bulk HYPE-USD	+0.0100%	1h	93.328	−0.089%	$203K	$3K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.422	+0.012%	$92.1M	$80.1M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.440	+0.031%	$46.1M	$18.5M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.417	+0.006%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.476	+0.070%	$7.3M	$11.1M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.529	+0.126%	$28.7M	$56.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.637	+0.242%	$7.6M	$47.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.532	+0.130%	$343K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.573	+0.173%	$669K	$2.9M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.504	+0.099%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.442	+0.033%	$490K	$2.7M	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.414	+0.003%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.412	+0.001%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USDshort	+0.0100%	1h	93.443	+0.034%	$2.0M	$1.9M	10x
HTX HYPE-USDT	+0.0100%	4h	93.580	+0.181%	$1.4M	$6.4M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.389	−0.024%	$18.1M	$43.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.423	+0.013%	$395K	$161K	20x	as long as short
Injective HYPE/USDC PERP	+0.0122%	1h	93.470	+0.063%	$30K	$339K	12x	as long as short
Kalshi KXHYPEPERP	+0.0133%	8h	93.531	+0.128%	$1.8M	$5.6M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.470	+0.063%	$4.8M	$5.6M	50x	as long as short
Reya HYPERUSDPERP	+0.0267%	1h	93.406	−0.006%	$80K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0154%	1h	93.433	+0.023%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.441	+0.032%	$16.9M	$11.9M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0341%	1h	93.508	+0.104%	$20.8M	$29.6M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0403%	1h	93.523	+0.120%	$7.5M	$4.0M	50x	as long as short
RISEx HYPE/USDC	+0.0527%	1h	93.504	+0.100%	$3.2M	$6.3M	20x	as long as short