Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0079%/8h= −8.6% APRpaid last 24h +0.005%

Price spread now: HTX against RISEx+0.136%7-day average +0.025% · 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−$18as in the Price arb table

costs, in and out, $10k−$290.292% of the position

Long on RISEx Short on HTX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.076%−$8 on $10k

Price spread, last 3 days (all we have)−0.197%−$20 · spread now +0.136%, 7d avg +0.025%

Together, before fees−0.273%−$27 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.111% dearer against RISEx than usual: you sell high and buy low (spread +0.136% now, against its 7-day average of +0.025%): +$11 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx HYPE/USDC	93.741	0.0284	pay 0.0036% / 1h	21m 48s	$2.8M	$6.9M	20x
Short	HTX HYPE-USDT	93.868	0.0206	get 0.0103% / 4h	21m 48s	$1.5M	$7.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against RISEx. 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 RISExbpFee HTXbpOrdersPrice spread, now +0.136%Rate

Funding earned: −$16.52
Price spread: +0.136% → +0.025%: $11.07
Slippage, 4 orders: −$11.24
Fee RISEx: 3 bp × 2 orders: −$6
Fee HTX: 6 bp × 2 orders: −$12
Net: −$34.69
Costs to cover: 0.292%
Break-even: never at this rate

Slippage from RISEx: live order book, 2 min ago; HTX: 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 RISEx live order book, 2 min ago	0.32 bp	3.3 bp −$3	5.3 bp −$53	doesn't fit	doesn't fit
Sell HTX live order book, 2 min ago	1.87 bp	10.0 bp −$10	14.6 bp −$146	67.6 bp −$6,758	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	−0.0960%	1h	93.526	−0.229%	$198K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0387%	1h	93.637	−0.111%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	93.581	−0.170%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0082%	1h	93.450	−0.310%	$703K	$910K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.557	−0.196%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0056%	1h	93.708	−0.035%	$86K	$366K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0001%	4h	93.709	−0.034%	$168K	$586K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.662	−0.084%	$127K	$30K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.712	−0.031%	$23K	$329K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.737	−0.004%	$26K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0006%	4h	93.696	−0.048%	$8.9M	$36.0M	300x	as long as short
Phoenix HYPE	+0.0009%	1h	93.618	−0.131%	$214K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0017%	8h	93.710	−0.033%	$322.2M	$283.7M	75x	as long as short
Derive HYPE-PERP	+0.0020%	1h	93.662	−0.084%	$16.4M	$7.1M	10x	as long as short
Binance HYPEUSDT	+0.0049%	4h	93.721	−0.021%	$383.0M	$896.5M	75x	as long as short
MEXC HYPE_USDT	+0.0050%	4h	93.720	−0.022%	$87.9M	$81.9M	100x	as long as short
edgeX HYPEUSDC	+0.0062%	4h	93.464	−0.296%	$5.1M	$29.7M	30x	as long as short
Phemex HYPEUSDT	+0.0068%	8h	93.724	−0.018%	$12.8M	$2.6M	50x	as long as short
Gate HYPE_USDT	+0.0076%	4h	93.702	−0.041%	$44.0M	$59.7M	75x	as long as short
Popdex HYPEUSDT	+0.0080%	1h	93.735	−0.006%	$59K	$1.2M	50x	as long as short
Bullet HYPE-USD	+0.0093%	1h	93.707	−0.036%	$113K	$576K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.759	+0.019%	$18.9M	$60.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.730	−0.012%	$3.0M	$12.3M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.730	−0.012%	$399K	$318K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0099%	8h	93.713	−0.030%	$115.5M	$321.3M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.674	−0.071%	$340K	$171K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.650	−0.097%	$16K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.665	−0.081%	$5.7M	$44.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.657	−0.089%	$10.1M	$14.5M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.625	−0.124%	$204K	$7K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.725	−0.017%	$46.4M	$18.6M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.728	−0.014%	$227.0M	$102.6M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.704	−0.039%	—	$54.1M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.753	+0.013%	$7.9M	$10.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.574	−0.178%	$31.2M	$54.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.619	−0.130%	$7.6M	$45.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.485	−0.273%	$358K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.514	−0.242%	$676K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.699	−0.045%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.732	−0.009%	$491K	$2.4M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.699	−0.045%	$76K	$171K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.690	−0.054%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.700	−0.044%	$2.0M	$2.0M	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.410	+0.714%	$31K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.695	−0.049%	$18.4M	$42.8M	50x	as long as short
Kalshi KXHYPEPERP	+0.0134%	8h	93.672	−0.073%	$1.9M	$5.0M	2.3x	as long as short
Hyperliquid HYPE	+0.0140%	1h	93.754	+0.014%	$2.04B	$677.3M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	93.740	−0.001%	$4.9M	$5.7M	50x	as long as short
BloFin HYPE-USDT	+0.0203%	4h	93.528	−0.227%	$17.1M	$12.6M	75x	as long as short
HTX HYPE-USDTshort	+0.0206%	4h	93.868	+0.136%	$1.5M	$7.8M	75x
Reya HYPERUSDPERP	+0.0249%	1h	93.690	−0.054%	$77K	$142K	15x	as long as short
RISEx HYPE/USDClong	+0.0284%	1h	93.741	long leg	$2.8M	$6.9M	20x
GMX HYPE/USD [WBTC.b-USDC]	L +0.0337% / S −0.0163%	1h	93.733	−0.008%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0550%	1h	93.822	+0.087%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0578%	1h	93.813	+0.077%	$20.9M	$29.5M	50x	as long as short