Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.010%

Price spread now: Vest against Variational Omni+0.128%7-day average +0.013% · you sell dearer than you buy

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

Long on Variational Omni Short on Vest

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.122%−$12 on $10k

Price spread, last 3 days (all we have)−0.036%−$4 · spread now +0.128%, 7d avg +0.013%

Together, before fees−0.157%+ Points / potential airdropVariational Omni: Active · Vest: Active · farm board−$16 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: Vest is 0.115% dearer against Variational Omni than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of +0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni HYPE	93.203	0.0100	pay 0.0100% / 8h	1h 13m	$29.0M	$50.5M	—
Short	Vest HYPE-PERP	93.323	0.0100	get 0.0013% / 1h	13m 01s	—	$454K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee VestbpOrdersPrice spread, now +0.128%Rate

Funding earned: $0
Price spread: +0.128% → +0.013%: $11.53
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Vest: 1 bp × 2 orders: −$2
Net: $9.53
Costs to cover: 0.020%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Vest: no order-book sample. 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 Variational Omni RFQ quote, 1 min ago	0.46 bp	doesn't fit	3.9 bp −$39	8.1 bp −$813	doesn't fit
Sell Vest no order-book sample	—	—	—	—	—

Vest: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Aftermath Perps HYPEUSD	−0.0447%	1h	93.240	+0.039%	$22K	$22K	10x	as long as short
Hibachi HYPE/USDT-P	−0.0352%	1h	93.222	+0.020%	$197K	$230K	7x	as long as short
Arcus HYPE-USD	−0.0131%	1h	93.238	+0.037%	$1.2M	$3.9M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0125%	1h	93.310	+0.114%	$699K	$934K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.373	+0.182%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0024%	1h	93.321	+0.126%	$90K	$360K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.388	+0.198%	$127K	$32K	5x	as long as short
Popdex HYPEUSDT	0.0000%	1h	93.285	+0.088%	$57K	$1.2M	50x	as long as short
Perpl HYPE	0.0000%	43m	93.303	+0.107%	$23K	$330K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.325	+0.130%	$27K	—	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	+0.0003%	4h	93.320	+0.125%	$8.9M	$35.8M	300x	as long as short
Orderly PERP_HYPE_USDC	+0.0019%	4h	93.329	+0.135%	$172K	$519K	20x	as long as short
Bybit HYPEUSDT	+0.0022%	8h	93.290	+0.093%	$323.1M	$283.8M	75x	as long as short
Phoenix HYPE	+0.0034%	1h	93.249	+0.049%	$214K	$1.2M	10x	as long as short
Bullet HYPE-USD	+0.0041%	1h	93.295	+0.099%	$112K	$578K	20x	as long as short
Derive HYPE-PERP	+0.0047%	1h	93.257	+0.058%	$16.3M	$7.0M	10x	as long as short
Gate HYPE_USDT	+0.0060%	4h	93.330	+0.136%	$44.0M	$58.7M	75x	as long as short
MEXC HYPE_USDT	+0.0064%	4h	93.322	+0.127%	$90.2M	$82.3M	100x	as long as short
Binance HYPEUSDT	+0.0067%	4h	93.306	+0.110%	$382.0M	$893.6M	75x	as long as short
edgeX HYPEUSDC	+0.0085%	4h	93.171	−0.034%	$5.1M	$29.7M	30x	as long as short
Lighter HYPE	+0.0096%	1h	93.371	+0.180%	$18.6M	$59.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.352	+0.159%	$3.1M	$12.2M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.315	+0.120%	$397K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.352	+0.160%	$339K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.260	+0.061%	$35K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.347	+0.155%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.348	+0.155%	$2.03B	$669.8M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.344	+0.151%	$10.0M	$14.4M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.289	+0.092%	$114.2M	$313.3M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.232	+0.031%	$204K	$8K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.317	+0.122%	$47.0M	$18.7M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.318	+0.123%	$226.3M	$102.8M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.314	+0.119%	—	$53.7M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.339	+0.146%	$7.9M	$10.6M	20x	as long as short
Variational Omni HYPElong	+0.0100%	8h	93.203	long leg	$29.0M	$50.5M	—
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.199	−0.005%	$7.5M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.153	−0.054%	$414K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.269	+0.070%	$675K	$2.5M	20x	as long as short
Vest HYPE-PERPshort	+0.0100%	1h	93.323	+0.128%	—	$454K	5x
Polymarket Perps HYPE-USD	+0.0100%	1h	93.304	+0.108%	$493K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.298	+0.102%	$76K	$167K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.349	+0.156%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.310	+0.114%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.278	+0.080%	$12.7M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.287	+0.090%	$18.2M	$41.7M	50x	as long as short
Kalshi KXHYPEPERP	+0.0119%	8h	93.367	+0.176%	$1.9M	$5.2M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.440	+0.254%	$4.9M	$5.7M	50x	as long as short
HTX HYPE-USDT	+0.0229%	4h	93.513	+0.332%	$1.5M	$7.7M	75x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	93.420	+0.232%	$30K	$338K	12x	as long as short
Reya HYPERUSDPERP	+0.0247%	1h	93.279	+0.081%	$77K	$159K	15x	as long as short
BloFin HYPE-USDT	+0.0268%	4h	93.316	+0.121%	$16.8M	$12.4M	75x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.341	+0.148%	$2.7M	$6.8M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0165%	1h	93.318	+0.123%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0371%	1h	93.407	+0.219%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0465%	1h	93.439	+0.253%	$20.9M	$29.0M	50x	as long as short