Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0102%/8h= −11.2% APRpaid last 24h −0.030%

Price spread now: Gate against StandX−0.088%7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$320.317% of the position

Long on StandX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.090%−$9 on $10k

Price spread, last 7 days+0.099%+$10 · spread now −0.088%, 7d avg −0.012%

Together, before fees+0.009%+ Points / potential airdropStandX: Active · farm board+$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Gate is 0.075% cheaper against StandX than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.012%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	StandX HYPE-USD	93.361	0.0100	pay 0.0013% / 1h	56m 27s	$675K	$2.4M	20x
Short	Gate HYPE_USDT	93.279	−0.0002	pay 0.0001% / 4h	2h 56m	$44.1M	$56.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against StandX. 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 StandXbpFee GatebpOrdersPrice spread, now −0.088%Rate

Funding earned: −$21.42
Price spread: −0.088% → −0.012%: −$7.55
Slippage, 4 orders: −$8.72
Fee StandX: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$60.69
Costs to cover: 0.317%
Break-even: never at this rate

Slippage from StandX: live order book, 2 min ago; Gate: 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 StandX live order book, 2 min ago	1.29 bp	5.3 bp −$5	5.5 bp −$55	13.0 bp −$1,296	doesn't fit
Sell Gate live order book, 2 min ago	0.05 bp	10.2 bp −$10	13.6 bp −$136	28.1 bp −$2,806	51.9 bp −$25.9K

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	−0.1360%	1h	93.304	−0.061%	$197K	$239K	7x	as long as short
Ondo Perps HYPE-USD.P	−0.0119%	1h	93.260	−0.108%	$699K	$952K	10x	as long as short
01 Exchange HYPEUSD	−0.0104%	1h	93.253	−0.116%	$89K	$340K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0084%	1h	93.353	−0.008%	$22K	$22K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.294	−0.072%	$3K	$331	25x	as long as short
Gate HYPE_USDTshort	−0.0002%	4h	93.279	−0.088%	$44.1M	$56.1M	75x
dYdX HYPE-USD	0.0000%	1h	93.341	−0.022%	$127K	$33K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.419	+0.062%	$1.9M	$5.4M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.252	−0.117%	$24K	$343K	10x	as long as short
Aster HYPEUSDT	+0.0002%	4h	93.259	−0.109%	$8.9M	$36.5M	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	93.320	−0.044%	$20K	—	150x	as long as short
Popdex HYPEUSDT	+0.0032%	1h	93.252	−0.117%	$56K	$1.2M	50x	as long as short
Bybit HYPEUSDT	+0.0041%	8h	93.240	−0.130%	$325.0M	$289.1M	75x	as long as short
Derive HYPE-PERP	+0.0058%	1h	93.260	−0.108%	$16.4M	$7.1M	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0078%	4h	93.315	−0.049%	$180K	$537K	20x	as long as short
Bluefin HYPE-PERP	+0.0079%	1h	93.301	−0.064%	$76K	$168K	20x	as long as short
Phoenix HYPE	+0.0094%	1h	93.444	+0.089%	$216K	$1.1M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.353	−0.008%	$18.5M	$58.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.322	−0.042%	$3.1M	$12.3M	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.300	−0.065%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.300	−0.065%	$6.0M	$44.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.339	−0.023%	$2.03B	$674.1M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.327	−0.036%	$10.0M	$14.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.264	−0.104%	$386.0M	$891.7M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.246	−0.123%	$114.6M	$315.9M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.246	−0.123%	$1.2M	$4.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.386	+0.027%	$204K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.260	−0.108%	$91.9M	$81.3M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.259	−0.109%	$46.2M	$19.6M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.265	−0.103%	$226.6M	$102.1M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.277	−0.090%	—	$54.5M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.345	−0.017%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.466	+0.113%	$28.9M	$50.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.403	+0.045%	$7.5M	$46.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.402	+0.044%	$405K	$1.1M	50x	as long as short
StandX HYPE-USDlong	+0.0100%	1h	93.361	long leg	$675K	$2.4M	20x
Vest HYPE-PERP	+0.0100%	1h	93.317	−0.047%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.304	−0.061%	$493K	$2.6M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	93.282	−0.085%	$112K	$583K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.291	−0.075%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.296	−0.070%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.351	−0.011%	$12.7M	$2.6M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0100%	8h	93.327	−0.037%	$339K	$171K	20x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.255	−0.113%	$18.4M	$41.0M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.318	−0.046%	$397K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0108%	4h	93.382	+0.023%	$5.1M	$29.4M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.380	+0.020%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0244%	1h	93.284	−0.082%	$77K	$157K	15x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.220	−0.151%	$30K	$231K	12x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0165%	1h	93.331	−0.032%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.309	−0.056%	$17.2M	$12.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0371%	1h	93.414	+0.057%	$7.4M	$4.6M	50x	as long as short
HTX HYPE-USDT	+0.0432%	4h	93.459	+0.105%	$1.5M	$7.6M	75x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.319	−0.046%	$2.7M	$6.9M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0574%	1h	93.440	+0.084%	$18.7M	$24.8M	50x	as long as short