Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h −0.008%

Price spread now: Nado against StandX+0.010%7-day average +0.002% · 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−$21as in the Price arb table

costs, in and out, $10k−$220.216% of the position

Long on StandX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.015%−$2 on $10k

Price spread, last 7 days+0.013%+$1 · spread now +0.010%, 7d avg +0.002%

Together, before fees−0.002%+ Points / potential airdropStandX: Active · Nado: Active · farm board$0 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	StandX HYPE-USD	95.111	0.0100	pay 0.0013% / 1h	18m 04s	$692K	$2.7M	20x
Short	Nado HYPE-PERP	95.120	0.0100	get 0.0012% / 1h	18m 04s	$7.1M	$51.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.010%Rate

Funding earned: $0
Price spread: +0.010% → +0.002%: $0.81
Slippage, 4 orders: −$6.63
Fee StandX: 4 bp × 2 orders: −$8
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$20.82
Costs to cover: 0.216%
Break-even: never at this rate

Slippage from StandX: live order book, 1 min ago; Nado: live order book, 1 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, 1 min ago	2.05 bp	6.0 bp −$6	6.0 bp −$60	11.4 bp −$1,136	doesn't fit
Sell Nado live order book, 1 min ago	0.05 bp	3.6 bp −$4	6.1 bp −$61	29.3 bp −$2,934	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	−0.0824%	1h	95.057	−0.056%	$212K	$266K	7x	as long as short
Bluefin HYPE-PERP	−0.0545%	1h	95.102	−0.009%	$79K	$148K	20x	as long as short
Phemex HYPEUSDT	−0.0330%	8h	95.054	−0.060%	$13.0M	$2.8M	50x	as long as short
Aftermath Perps HYPEUSD	−0.0272%	1h	94.886	−0.236%	$22K	$20K	10x	as long as short
Bullet HYPE-USD	−0.0214%	1h	95.156	+0.048%	$113K	$577K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0133%	1h	95.060	−0.054%	$705K	$1.3M	10x	as long as short
01 Exchange HYPEUSD	−0.0112%	1h	95.176	+0.068%	$90K	$356K	20x	as long as short
Arcus HYPE-USD	−0.0112%	1h	95.127	+0.017%	$1.0M	$3.2M	10x	as long as short
dYdX HYPE-USD	−0.0104%	1h	95.162	+0.053%	$130K	$92K	5x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	95.122	+0.012%	$3K	$331	25x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_HYPEUSD	−0.0047%	1h	95.145	+0.036%	$18.9M	$35.7M	50x	as long as short
Bybit HYPEUSDT	−0.0019%	8h	95.125	+0.015%	$320.0M	$289.9M	75x	as long as short
Orderly PERP_HYPE_USDC	−0.0006%	4h	95.149	+0.040%	$148K	$671K	20x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	95.198	+0.091%	$1.9M	$5.5M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	95.154	+0.045%	$19K	$274K	10x	as long as short
Deribit HYPE_USDC-PERPETUAL	0.0000%	1h	95.218	+0.113%	$7.5M	$4.4M	50x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	95.163	+0.054%	$86K	—	150x	as long as short
Gate HYPE_USDT	+0.0008%	4h	95.125	+0.015%	$52.6M	$56.2M	75x	as long as short
Phoenix HYPE	+0.0008%	1h	95.051	−0.063%	$212K	$1.2M	10x	as long as short
Derive HYPE-PERP	+0.0010%	1h	94.160	−1.000%	$16.3M	$7.5M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0016%	1h	95.140	+0.030%	$4.7M	$5.8M	50x	as long as short
Bitget HYPEUSDT	+0.0038%	4h	95.145	+0.036%	$228.4M	$95.5M	75x	as long as short
Vest HYPE-PERP	+0.0038%	1h	95.212	+0.106%	—	$126K	5x	as long as short
OKX HYPE-USDT-SWAP	+0.0039%	8h	95.150	+0.041%	$118.7M	$326.0M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0047%	8h	95.183	+0.076%	$340K	$39K	20x	as long as short
Backpack HYPE_USDC_PERP	+0.0054%	1h	95.122	+0.012%	$7.6M	$10.3M	20x	as long as short
SoDEX HYPE-USD	+0.0087%	1h	95.162	+0.054%	$2.1M	$1.9M	10x	as long as short
edgeX HYPEUSDC	+0.0091%	4h	94.971	−0.148%	$5.0M	$31.0M	30x	as long as short
Lighter HYPE	+0.0096%	1h	95.151	+0.042%	$16.4M	$63.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	95.161	+0.053%	$3.2M	$10.4M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	95.145	+0.036%	$151K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	95.140	+0.030%	$40K	$1.6M	10x	as long as short
Nado HYPE-PERPshort	+0.0100%	1h	95.120	+0.010%	$7.1M	$51.6M	10x
Hyperliquid HYPE	+0.0100%	1h	95.257	+0.154%	$2.10B	$676.8M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	95.143	+0.034%	$8.9M	$37.1M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	95.171	+0.063%	$10.3M	$14.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	95.154	+0.045%	$382.6M	$922.6M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	95.126	+0.016%	$222K	$14K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	95.148	+0.039%	$98.4M	$88.5M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	95.151	+0.042%	$47.5M	$18.7M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	95.155	+0.046%	—	$52.6M	—	as long as short
Variational Omni HYPE	+0.0100%	8h	95.031	−0.084%	$29.8M	$56.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	95.052	−0.062%	$7.7M	$44.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.976	−0.142%	$356K	$1.0M	50x	as long as short
StandX HYPE-USDlong	+0.0100%	1h	95.111	long leg	$692K	$2.7M	20x
Polymarket Perps HYPE-USD	+0.0100%	1h	95.114	+0.003%	$500K	$2.7M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	95.095	−0.017%	$33K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.266	+0.163%	$1.4M	$6.8M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	95.136	+0.027%	$18.3M	$42.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	95.163	+0.055%	$402K	$148K	20x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	95.182	+0.075%	$3.2M	$6.3M	20x	as long as short
Injective HYPE/USDC PERP	+0.0153%	1h	95.380	+0.283%	$31K	$340K	12x	as long as short
Reya HYPERUSDPERP	+0.0271%	1h	95.115	+0.005%	$83K	$97K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0155%	1h	95.194	+0.088%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	95.078	−0.035%	$17.3M	$12.4M	75x	as long as short