Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.009%

Price spread now: MEXC against SunX+0.191%7-day average −0.053% · you sell dearer than you buy

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$620.618% of the position

Long on SunX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.019%−$2 on $10k

Price spread, last 4 days (all we have)−0.226%−$23 · spread now +0.191%, 7d avg −0.053%

Together, before fees−0.245%−$24 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: MEXC is 0.244% dearer against SunX than usual: you sell high and buy low, +$24 on $10k if it goes back to its 7-day average of −0.053%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX HYPE-USDT	93.593	0.0100	pay 0.0050% / 4h	2h 21m	$32K	$1.6M	20x
Short	MEXC HYPE_USDT	93.772	0.0100	get 0.0050% / 4h	2h 21m	$90.5M	$81.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.191%Rate

Funding earned: $0
Price spread: +0.191% → −0.053%: $24.4
Slippage, 4 orders: −$49.84
Fee SunX: 4 bp × 2 orders: −$8
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$37.45
Costs to cover: 0.618%
Break-even: never at this rate

Slippage from SunX: live order book, 4 min ago; MEXC: live order book, 3 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, 4 min ago	19.35 bp	24.1 bp −$24	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	0.21 bp	2.6 bp −$3	3.5 bp −$35	13.8 bp −$1,381	32.0 bp −$16.0K

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	−0.1392%	1h	93.393	−0.214%	$197K	$238K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0396%	1h	93.328	−0.283%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.513	−0.085%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0049%	1h	93.749	+0.167%	$111K	$581K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0019%	4h	93.684	+0.097%	$146K	$672K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.560	−0.035%	$128K	$29K	5x	as long as short
01 Exchange HYPEUSD	0.0000%	1h	93.791	+0.212%	$88K	$365K	20x	as long as short
Perpl HYPE	0.0000%	43m	93.772	+0.191%	$22K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.760	+0.178%	$62K	—	150x	as long as short
Arcus HYPE-USD	+0.0011%	1h	93.637	+0.047%	$1.0M	$3.9M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget HYPEUSDT	+0.0012%	4h	93.689	+0.103%	$226.0M	$98.9M	75x	as long as short
Bybit HYPEUSDT	+0.0018%	8h	93.700	+0.114%	$318.1M	$282.4M	75x	as long as short
Phoenix HYPE	+0.0026%	1h	93.624	+0.033%	$208K	$1.2M	10x	as long as short
Ondo Perps HYPE-USD.P	+0.0032%	1h	93.620	+0.029%	$704K	$1.2M	10x	as long as short
Phemex HYPEUSDT	+0.0046%	8h	93.732	+0.149%	$12.8M	$2.8M	50x	as long as short
edgeX HYPEUSDC	+0.0094%	4h	93.211	−0.408%	$5.0M	$29.9M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0094%	8h	93.566	−0.029%	$340K	$157K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.529	−0.068%	$16.1M	$63.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.554	−0.042%	$3.1M	$11.5M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.758	+0.176%	$73K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.690	+0.104%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.731	+0.147%	$8.0M	$48.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.793	+0.214%	$2.04B	$667.3M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.716	+0.131%	$8.7M	$36.4M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.590	−0.003%	$10.1M	$15.3M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.729	+0.145%	$375.9M	$912.7M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.704	+0.119%	$115.5M	$311.7M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.358	−0.251%	$216K	$15K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	93.762	+0.181%	$47.2M	$54.5M	75x	as long as short
MEXC HYPE_USDTshort	+0.0100%	4h	93.772	+0.191%	$90.5M	$81.6M	100x
KuCoin HYPEUSDTM	+0.0100%	4h	93.729	+0.145%	$46.4M	$18.8M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.746	+0.163%	—	$53.8M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.524	−0.074%	$7.2M	$10.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.070	−0.559%	$28.4M	$56.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.275	−0.340%	$7.5M	$47.3M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.227	−0.391%	$342K	$997K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.427	−0.177%	$668K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.723	+0.139%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.730	+0.146%	$486K	$2.7M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.721	+0.137%	$79K	$166K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.698	+0.112%	$16.2M	$7.4M	10x	as long as short
SunX HYPE-USDTlong	+0.0100%	4h	93.593	long leg	$32K	$1.6M	20x
SoDEX HYPE-USD	+0.0100%	1h	93.717	+0.132%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.849	+0.274%	$1.4M	$6.5M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.678	+0.091%	$18.2M	$43.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.716	+0.132%	$396K	$158K	20x	as long as short
Kalshi KXHYPEPERP	+0.0108%	8h	93.470	−0.131%	$1.8M	$5.6M	2.3x	as long as short
Injective HYPE/USDC PERP	+0.0122%	1h	93.620	+0.029%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.800	+0.221%	$4.6M	$5.8M	50x	as long as short
Reya HYPERUSDPERP	+0.0269%	1h	93.767	+0.186%	$80K	$127K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0333% / S −0.0154%	1h	93.765	+0.184%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0340%	1h	93.796	+0.216%	$20.9M	$29.4M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.312	−0.300%	$16.8M	$11.9M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0486%	1h	93.802	+0.223%	$7.5M	$4.1M	50x	as long as short
RISEx HYPE/USDC	+0.0527%	1h	93.742	+0.159%	$3.2M	$6.2M	20x	as long as short