Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0148%/8h= −16.2% APRpaid last 24h −0.007%

Price spread now: 01 Exchange against OKX+0.030%7-day average +0.045% · 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−$25as in the Price arb table

costs, in and out, $10k−$240.236% of the position

Long on OKX Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.017%−$2 on $10k

Price spread, last 4 days (all we have)+0.038%+$4 · spread now +0.030%, 7d avg +0.045%

Together, before fees+0.021%+$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.045%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX HYPE-USDT-SWAP	93.331	0.0100	pay 0.0100% / 8h	1h 35m	$115.2M	$314.6M	50x
Short	01 Exchange HYPEUSD	93.359	−0.0048	pay 0.0006% / 1h	35m 27s	$86K	$369K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now +0.030%Rate

Funding earned: −$31.08
Price spread: +0.030% → +0.045%: −$1.51
Slippage, 4 orders: −$6.63
Fee OKX: 5 bp × 2 orders: −$10
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$56.22
Costs to cover: 0.236%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; 01 Exchange: live order book, 9 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	5.9 bp −$6	10.1 bp −$101	20.0 bp −$1,997	doesn't fit
Sell 01 Exchange live order book, 9 min ago	0.05 bp	5.7 bp −$6	9.7 bp −$97	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	−0.1048%	1h	93.346	+0.016%	$198K	$240K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0190%	1h	93.549	+0.234%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0091%	1h	93.330	−0.001%	$703K	$1.2M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.376	+0.048%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0075%	1h	93.339	+0.009%	$110K	$580K	20x	as long as short
01 Exchange HYPEUSDshort	−0.0048%	1h	93.359	+0.030%	$86K	$369K	20x
Bluefin HYPE-PERP	−0.0033%	1h	93.313	−0.019%	$79K	$155K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0021%	4h	93.327	−0.004%	$145K	$685K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.345	+0.015%	$128K	$28K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.470	+0.149%	$1.8M	$5.6M	2.3x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	93.338	+0.007%	$20K	$289K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.368	+0.039%	$83K	—	150x	as long as short
BingX HYPE-USDT	+0.0002%	4h	93.335	+0.004%	—	$53.6M	—	as long as short
Bybit HYPEUSDT	+0.0002%	8h	93.328	−0.003%	$314.9M	$288.0M	75x	as long as short
Derive HYPE-PERP	+0.0007%	1h	93.302	−0.031%	$16.2M	$7.5M	10x	as long as short
Phoenix HYPE	+0.0017%	1h	93.482	+0.162%	$209K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0042%	4h	93.351	+0.021%	$224.9M	$99.8M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0077%	8h	93.418	+0.094%	$334K	$161K	20x	as long as short
edgeX HYPEUSDC	+0.0080%	4h	93.460	+0.139%	$5.0M	$30.6M	30x	as long as short
Arcus HYPE-USD	+0.0084%	1h	93.326	−0.005%	$1.0M	$4.0M	10x	as long as short
Phemex HYPEUSDT	+0.0090%	8h	93.387	+0.060%	$12.7M	$2.8M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.383	+0.056%	$16.1M	$63.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.367	+0.039%	$3.1M	$11.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.336	+0.005%	$80K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.350	+0.020%	$21K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.382	+0.054%	$7.4M	$50.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.439	+0.116%	$2.04B	$681.5M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.356	+0.026%	$8.8M	$37.1M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.382	+0.055%	$10.1M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.347	+0.017%	$373.7M	$929.8M	75x	as long as short
OKX HYPE-USDT-SWAPlong	+0.0100%	8h	93.331	long leg	$115.2M	$314.6M	50x
Gate HYPE_USDT	+0.0100%	4h	93.371	+0.043%	$48.4M	$55.2M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.366	+0.038%	$89.3M	$83.9M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.368	+0.040%	$46.2M	$18.7M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.365	+0.036%	$7.2M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.339	+0.008%	$28.7M	$56.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.507	+0.189%	$7.5M	$48.3M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.469	+0.148%	$350K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.507	+0.189%	$677K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.417	+0.092%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.364	+0.035%	$469K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.404	+0.078%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.342	+0.012%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.500	+0.181%	$1.4M	$6.7M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.507	+0.189%	$216K	$15K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.307	−0.026%	$18.2M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.344	+0.014%	$395K	$159K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	93.390	+0.063%	$4.7M	$6.1M	50x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	93.430	+0.106%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0271%	1h	93.348	+0.018%	$77K	$129K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0154%	1h	93.388	+0.061%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0339%	1h	93.435	+0.111%	$7.4M	$4.2M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.480	+0.160%	$16.9M	$12.2M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0416%	1h	93.413	+0.088%	$20.8M	$29.6M	50x	as long as short
RISEx HYPE/USDC	+0.0559%	1h	93.388	+0.061%	$3.2M	$6.4M	20x	as long as short