Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Variational Omni against SunX+0.087%7-day average −0.089% · you sell dearer than you buy

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

Long on SunX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 3 days (all we have)−0.220%−$22 · spread now +0.087%, 7d avg −0.089%

Together, before fees−0.220%+ Points / potential airdropVariational Omni: Active · farm board−$22 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 0.176% dearer against SunX than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of −0.089%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX HYPE-USDT	93.437	0.0100	pay 0.0050% / 4h	2h 09m	$32K	$1.6M	20x
Short	Variational Omni HYPE	93.519	0.0100	get 0.0100% / 8h	6h 09m	$31.1M	$54.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.087%Rate

Funding earned: $0
Price spread: +0.087% → −0.089%: $17.6
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $9.6
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: SunX: live order book, 6 min ago; Variational Omni: RFQ quote, 5 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 SunX live order book, 6 min ago	19.35 bp	24.1 bp −$24	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 5 min ago	0.42 bp	doesn't fit	7.0 bp −$70	24.9 bp −$2,487	doesn't fit

HYPE on 54 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	−0.1096%	1h	93.473	+0.039%	$196K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0786%	1h	93.299	−0.148%	$1.2M	$3.8M	10x	as long as short
Phemex HYPEUSDT	−0.0090%	8h	93.394	−0.046%	$12.6M	$2.7M	50x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.432	−0.005%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0079%	1h	93.330	−0.115%	$701K	$916K	10x	as long as short
Orderly PERP_HYPE_USDC	−0.0055%	4h	93.329	−0.116%	$156K	$646K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0050%	1h	93.650	+0.228%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0048%	1h	93.368	−0.074%	$85K	$347K	20x	as long as short
Gate HYPE_USDT	−0.0010%	4h	93.320	−0.125%	$44.2M	$55.3M	75x	as long as short
Backpack HYPE_USDC_PERP	−0.0007%	1h	93.307	−0.139%	$7.4M	$10.4M	20x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	−0.0006%	4h	93.353	−0.090%	$8.8M	$35.8M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.502	+0.069%	$128K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.394	−0.046%	$22K	$323K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.367	−0.075%	$26K	—	150x	as long as short
BingX HYPE-USDT	+0.0006%	4h	93.330	−0.115%	—	$53.5M	—	as long as short
Bybit HYPEUSDT	+0.0008%	8h	93.341	−0.103%	$320.4M	$277.6M	75x	as long as short
Phoenix HYPE	+0.0060%	1h	93.484	+0.050%	$210K	$1.2M	10x	as long as short
Bullet HYPE-USD	+0.0068%	1h	93.338	−0.106%	$111K	$577K	20x	as long as short
MEXC HYPE_USDT	+0.0072%	4h	93.361	−0.081%	$88.2M	$83.4M	100x	as long as short
Binance HYPEUSDT	+0.0073%	4h	93.354	−0.089%	$380.1M	$886.4M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0074%	8h	93.364	−0.078%	$114.7M	$305.0M	50x	as long as short
edgeX HYPEUSDC	+0.0089%	4h	93.554	+0.125%	$5.0M	$29.9M	30x	as long as short
Lighter HYPE	+0.0096%	1h	93.375	−0.066%	$16.3M	$62.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.362	−0.080%	$3.1M	$11.9M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.375	−0.066%	$67K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.364	−0.078%	$397K	$172K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.467	+0.032%	$339K	$164K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.400	−0.040%	$21K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.427	−0.011%	$5.7M	$44.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.425	−0.013%	$2.04B	$657.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.440	+0.004%	$10.0M	$14.7M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.760	+0.346%	$204K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.376	−0.065%	$46.2M	$18.0M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.327	−0.118%	$226.0M	$97.6M	75x	as long as short
Variational Omni HYPEshort	+0.0100%	8h	93.519	+0.087%	$31.1M	$54.7M	—
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.622	+0.198%	$7.6M	$47.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.538	+0.108%	$338K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.514	+0.082%	$667K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.449	+0.013%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.390	−0.050%	$475K	$2.4M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.326	−0.119%	$79K	$170K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.335	−0.109%	$16.2M	$7.7M	10x	as long as short
SunX HYPE-USDTlong	+0.0100%	4h	93.437	long leg	$32K	$1.6M	20x
SoDEX HYPE-USD	+0.0100%	1h	93.374	−0.067%	$2.0M	$1.9M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.348	−0.095%	$18.3M	$43.8M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0136%	1h	93.430	−0.007%	$4.9M	$5.4M	50x	as long as short
Injective HYPE/USDC PERP	+0.0137%	1h	93.370	−0.072%	$30K	$339K	12x	as long as short
HTX HYPE-USDT	+0.0183%	4h	93.550	+0.121%	$1.4M	$5.9M	75x	as long as short
RISEx HYPE/USDC	+0.0210%	1h	93.450	+0.013%	$3.2M	$6.9M	20x	as long as short
Reya HYPERUSDPERP	+0.0256%	1h	93.364	−0.079%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0282%	8h	93.429	−0.009%	$1.9M	$4.9M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0156%	1h	93.379	−0.062%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0446%	1h	93.456	+0.020%	$7.4M	$4.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0683%	1h	93.439	+0.002%	$20.9M	$29.8M	50x	as long as short