Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: Variational Omni against StandX−0.052%7-day average −0.026% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on StandX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.004%$0 on $10k

Price spread, last 7 days+0.044%+$4 · spread now −0.052%, 7d avg −0.026%

Together, before fees+0.040%+ Points / potential airdropStandX: Active · Variational Omni: Active · farm board+$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.026% cheaper against StandX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	StandX HYPE-USD	93.344	0.0100	pay 0.0013% / 1h	49m 45s	$675K	$2.4M	20x
Short	Variational Omni HYPE	93.295	0.0100	get 0.0100% / 8h	2h 49m	$28.8M	$49.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.052%Rate

Funding earned: $0
Price spread: −0.052% → −0.026%: −$2.57
Slippage, 4 orders: no order book: not counted
Fee StandX: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$10.57
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: StandX: live order book, 4 min ago; Variational Omni: RFQ quote, 4 min ago. Net counts fees only.

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, 4 min ago	1.82 bp	5.8 bp −$6	5.8 bp −$58	12.0 bp −$1,199	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	0.42 bp	doesn't fit	5.0 bp −$50	21.3 bp −$2,128	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	−0.1280%	1h	93.248	−0.102%	$197K	$233K	7x	as long as short
Ondo Perps HYPE-USD.P	−0.0186%	1h	93.210	−0.144%	$700K	$943K	10x	as long as short
Aftermath Perps HYPEUSD	−0.0136%	1h	93.337	−0.007%	$22K	$22K	10x	as long as short
01 Exchange HYPEUSD	−0.0088%	1h	93.395	+0.055%	$89K	$344K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.301	−0.046%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0034%	1h	93.332	−0.013%	$113K	$583K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.407	+0.068%	$127K	$33K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.446	+0.109%	$1.9M	$5.4M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.373	+0.031%	$23K	$343K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.398	+0.058%	$20K	—	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	+0.0010%	4h	93.429	+0.091%	$8.9M	$36.3M	300x	as long as short
Derive HYPE-PERP	+0.0017%	1h	93.309	−0.038%	$16.4M	$7.1M	10x	as long as short
Gate HYPE_USDT	+0.0018%	4h	93.418	+0.079%	$44.2M	$56.2M	75x	as long as short
Bybit HYPEUSDT	+0.0041%	8h	93.393	+0.052%	$325.6M	$288.3M	75x	as long as short
Phoenix HYPE	+0.0068%	1h	93.368	+0.026%	$215K	$1.2M	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0076%	4h	93.370	+0.028%	$180K	$536K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.443	+0.106%	$18.5M	$59.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.467	+0.132%	$3.1M	$12.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.388	+0.047%	$56K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.420	+0.081%	$40K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.394	+0.053%	$6.0M	$44.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.497	+0.164%	$2.04B	$668.9M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.432	+0.094%	$10.0M	$14.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.423	+0.085%	$386.3M	$890.4M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.392	+0.051%	$114.8M	$316.3M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.383	+0.042%	$1.2M	$4.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.335	−0.009%	$204K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.409	+0.070%	$92.4M	$81.7M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.409	+0.070%	$46.3M	$19.4M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.424	+0.086%	$226.9M	$102.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.399	+0.059%	—	$54.5M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.384	+0.043%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPEshort	+0.0100%	8h	93.295	−0.052%	$28.8M	$49.8M	—
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.383	+0.042%	$7.5M	$46.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.287	−0.061%	$405K	$1.1M	50x	as long as short
StandX HYPE-USDlong	+0.0100%	1h	93.344	long leg	$675K	$2.4M	20x
Vest HYPE-PERP	+0.0100%	1h	93.401	+0.061%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.392	+0.051%	$493K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.366	+0.024%	$76K	$169K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.389	+0.048%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.342	−0.002%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.346	+0.002%	$12.7M	$2.6M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0100%	8h	93.427	+0.089%	$339K	$171K	20x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.386	+0.046%	$18.4M	$41.0M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.361	+0.019%	$397K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0113%	4h	93.276	−0.073%	$5.1M	$29.5M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.420	+0.081%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0245%	1h	93.358	+0.015%	$77K	$157K	15x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.230	−0.122%	$30K	$231K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0285%	1h	93.449	+0.112%	$7.4M	$4.6M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0165%	1h	93.390	+0.049%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.295	−0.052%	$17.1M	$12.5M	75x	as long as short
HTX HYPE-USDT	+0.0403%	4h	93.550	+0.221%	$1.5M	$7.6M	75x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.466	+0.131%	$2.7M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0574%	1h	93.446	+0.110%	$19.2M	$25.8M	50x	as long as short