Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.020%

Price spread now: GRVT against SunX−0.004%7-day average −0.052% · you buy dearer than you sell

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$670.671% of the position

Long on SunX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.026%−$3 on $10k

Price spread, last 3 days (all we have)+0.254%+$25 · spread now −0.004%, 7d avg −0.052%

Together, before fees+0.228%+ Points / potential airdropGRVT: Active · farm board+$23 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: GRVT is 0.048% dearer against SunX than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.052%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX HYPE-USDT	93.724	0.0100	pay 0.0050% / 4h	3h 16m	$32K	$1.6M	20x
Short	GRVT HYPE_USDT_Perp	93.720	0.0100	get 0.0050% / 4h	3h 16m	$7.5M	$46.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against SunX. 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 SunXbpFee GRVTbpOrdersPrice spread, now −0.004%Rate

Funding earned: $0
Price spread: −0.004% → −0.052%: $4.79
Slippage, 4 orders: −$50.14
Fee SunX: 4 bp × 2 orders: −$8
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$62.35
Costs to cover: 0.671%
Break-even: never at this rate

Slippage from SunX: live order book, 8 min ago; GRVT: 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 SunX live order book, 8 min ago	19.34 bp	24.1 bp −$24	doesn't fit	doesn't fit	doesn't fit
Sell GRVT live order book, 2 min ago	0.05 bp	4.6 bp −$5	5.0 bp −$50	doesn't fit	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	−0.1424%	1h	93.658	−0.070%	$198K	$239K	7x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.740	+0.017%	$3K	$331	25x	as long as short
Aftermath Perps HYPEUSD	−0.0033%	1h	93.668	−0.060%	$22K	$22K	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.713	−0.012%	$128K	$33K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.730	+0.006%	$1.9M	$5.3M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.691	−0.035%	$24K	$349K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0005%	1h	93.690	−0.037%	$44K	—	150x	as long as short
Gate HYPE_USDT	+0.0008%	4h	93.677	−0.050%	$44.3M	$56.7M	75x	as long as short
01 Exchange HYPEUSD	+0.0016%	1h	93.694	−0.032%	$89K	$342K	20x	as long as short
Aster HYPEUSDT	+0.0024%	4h	93.693	−0.033%	$9.0M	$36.9M	300x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit HYPEUSDT	+0.0055%	8h	93.660	−0.068%	$326.8M	$288.7M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0066%	1h	93.750	+0.027%	$18.6M	$24.2M	50x	as long as short
Ondo Perps HYPE-USD.P	+0.0078%	1h	93.620	−0.111%	$702K	$954K	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0085%	4h	93.647	−0.082%	$179K	$521K	20x	as long as short
Phoenix HYPE	+0.0094%	1h	93.777	+0.057%	$216K	$1.1M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.681	−0.046%	$18.8M	$58.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.654	−0.075%	$3.1M	$12.5M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.676	−0.051%	$56K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.700	−0.026%	$25K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.674	−0.053%	$5.9M	$44.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.724	0.000%	$10.1M	$14.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.682	−0.045%	$387.9M	$888.5M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.655	−0.074%	$115.1M	$318.1M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.683	−0.044%	$1.2M	$4.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.688	−0.038%	$205K	$10K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.633	−0.097%	$91.5M	$83.1M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.635	−0.095%	$46.4M	$19.7M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.673	−0.054%	$227.8M	$103.1M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.661	−0.067%	—	$54.5M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.683	−0.044%	$8.0M	$11.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.656	−0.072%	$29.0M	$49.6M	—	as long as short
GRVT HYPE_USDT_Perpshort	+0.0100%	4h	93.720	−0.004%	$7.5M	$46.5M	10x
ApeX Omni HYPEUSDT	+0.0100%	1h	93.693	−0.033%	$397K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.779	+0.059%	$678K	$2.3M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.711	−0.014%	$505K	$2.6M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	93.644	−0.085%	$112K	$578K	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.656	−0.073%	$76K	$170K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.604	−0.128%	$16.4M	$7.0M	10x	as long as short
SunX HYPE-USDTlong	+0.0100%	4h	93.724	long leg	$32K	$1.6M	20x
SoDEX HYPE-USD	+0.0100%	1h	93.619	−0.112%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.629	−0.101%	$12.7M	$2.6M	50x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.734	+0.011%	—	$454K	5x	as long as short
Paradex HYPE-USD-PERP	+0.0101%	8h	93.728	+0.004%	$340K	$172K	20x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.669	−0.059%	$18.4M	$40.8M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.661	−0.067%	$398K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0112%	4h	93.677	−0.050%	$5.1M	$29.3M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.690	−0.036%	$4.9M	$5.7M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0209%	1h	93.725	+0.001%	$7.4M	$4.6M	50x	as long as short
Reya HYPERUSDPERP	+0.0244%	1h	93.671	−0.057%	$77K	$157K	15x	as long as short
Injective HYPE/USDC PERP	+0.0254%	1h	94.110	+0.412%	$31K	$182K	12x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0165%	1h	93.674	−0.053%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.546	−0.190%	$17.1M	$12.5M	75x	as long as short
Hyperliquid HYPE	+0.0409%	1h	93.778	+0.058%	$2.05B	$668.7M	10x	as long as short
RISEx HYPE/USDC	+0.0422%	1h	93.760	+0.038%	$2.9M	$6.7M	20x	as long as short
HTX HYPE-USDT	+0.0499%	4h	93.919	+0.208%	$1.5M	$7.6M	75x	as long as short