Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0048%/8h= −5.3% APRpaid last 24h −0.006%

Price spread now: MEXC against Pacifica−0.062%7-day average +0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$6as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$140.139% of the position

Long on Pacifica Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.079%+$8 on $10k

Price spread, last 7 days+0.051%+$5 · spread now −0.062%, 7d avg +0.008%

Together, before fees+0.131%+ Points / potential airdropPacifica: Active · farm board+$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and MEXC is 0.070% cheaper against Pacifica than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.008%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.079%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica HYPE	93.927	0.0100	pay 0.0013% / 1h	7m 27s	$10.1M	$14.5M	20x
Short	MEXC HYPE_USDT	93.869	0.0052	get 0.0026% / 4h	7m 27s	$88.3M	$82.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Pacifica. 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 PacificabpFee MEXCbpOrdersPrice spread, now −0.062%Rate

Funding earned: −$10.08
Price spread: −0.062% → +0.008%: −$6.95
Slippage, 4 orders: −$1.88
Fee Pacifica: 4 bp × 2 orders: −$8
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$30.91
Costs to cover: 0.139%
Break-even: never at this rate

Slippage from Pacifica: live order book, 2 min ago; MEXC: live order book, 2 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 Pacifica live order book, 2 min ago	0.05 bp	4.5 bp −$5	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 2 min ago	0.05 bp	2.1 bp −$2	5.1 bp −$51	11.8 bp −$1,180	40.3 bp −$20.1K

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	−0.1320%	1h	93.960	+0.035%	$199K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0379%	1h	93.902	−0.027%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	93.780	−0.157%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0117%	1h	93.830	−0.103%	$705K	$917K	10x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	93.824	−0.110%	$86K	$368K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.921	−0.006%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0004%	4h	93.877	−0.053%	$170K	$593K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.941	+0.015%	$128K	$30K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.862	−0.069%	$23K	$329K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.893	−0.036%	$27K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix HYPE	+0.0009%	1h	93.978	+0.054%	$217K	$1.2M	10x	as long as short
Derive HYPE-PERP	+0.0011%	1h	93.875	−0.055%	$16.4M	$7.2M	10x	as long as short
Aster HYPEUSDT	+0.0019%	4h	93.872	−0.059%	$8.9M	$36.1M	300x	as long as short
Bybit HYPEUSDT	+0.0019%	8h	93.850	−0.082%	$322.9M	$283.9M	75x	as long as short
Phemex HYPEUSDT	+0.0037%	8h	93.880	−0.050%	$12.8M	$2.6M	50x	as long as short
MEXC HYPE_USDTshort	+0.0052%	4h	93.869	−0.062%	$88.3M	$82.2M	100x
Binance HYPEUSDT	+0.0052%	4h	93.870	−0.061%	$383.7M	$898.3M	75x	as long as short
Popdex HYPEUSDT	+0.0064%	1h	93.825	−0.109%	$60K	$1.2M	50x	as long as short
Gate HYPE_USDT	+0.0070%	4h	93.865	−0.066%	$44.1M	$60.0M	75x	as long as short
edgeX HYPEUSDC	+0.0070%	4h	93.898	−0.031%	$5.1M	$29.7M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0089%	8h	93.860	−0.071%	$115.8M	$322.5M	50x	as long as short
Bullet HYPE-USD	+0.0094%	1h	93.867	−0.064%	$112K	$578K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.954	+0.029%	$18.9M	$60.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.931	+0.004%	$3.1M	$12.3M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.929	+0.002%	$400K	$318K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.820	−0.114%	$38K	$1.6M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.933	+0.006%	$341K	$171K	20x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.905	−0.023%	$5.7M	$44.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.934	+0.007%	$2.04B	$679.5M	10x	as long as short
Pacifica HYPElong	+0.0100%	1h	93.927	long leg	$10.1M	$14.5M	20x
Bulk HYPE-USD	+0.0100%	1h	93.889	−0.041%	$205K	$7K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.874	−0.056%	$46.5M	$18.6M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.858	−0.073%	$227.3M	$102.2M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.861	−0.070%	—	$54.2M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.959	+0.034%	$7.9M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.811	−0.123%	$31.2M	$54.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.967	+0.042%	$7.6M	$45.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.874	−0.056%	$364K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.956	+0.031%	$679K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.896	−0.033%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.869	−0.062%	$471K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.861	−0.070%	$76K	$171K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.960	+0.035%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.922	−0.005%	$2.0M	$2.0M	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.410	+0.514%	$31K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.847	−0.085%	$18.3M	$42.8M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	94.010	+0.088%	$4.9M	$5.7M	50x	as long as short
Kalshi KXHYPEPERP	+0.0155%	8h	93.977	+0.053%	$1.9M	$5.0M	2.3x	as long as short
HTX HYPE-USDT	+0.0192%	4h	94.106	+0.191%	$1.5M	$7.8M	75x	as long as short
BloFin HYPE-USDT	+0.0206%	4h	93.947	+0.021%	$17.0M	$12.6M	75x	as long as short
Reya HYPERUSDPERP	+0.0250%	1h	93.863	−0.068%	$77K	$142K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0271%	1h	94.029	+0.109%	$7.5M	$4.6M	50x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	93.895	−0.034%	$2.8M	$6.8M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0163%	1h	93.896	−0.033%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0577%	1h	94.026	+0.105%	$21.0M	$29.5M	50x	as long as short