Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0031%/8h= +3.4% APRpaid last 24h 0.000%

Price spread now: MEXC against Vest−0.018%7-day average +0.004% · you buy dearer than you sell

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

Long on Vest Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.116%+$12 on $10k

Price spread, last 4 days (all we have)−0.980%−$98 · spread now −0.018%, 7d avg +0.004%

Together, before fees−0.864%+ Points / potential airdropVest: Active · farm board−$86 on $10k · with fees, hour by hour

Funding pays, the price is against you. MEXC is 0.022% cheaper against Vest than usual: you would sell low and buy high (spread −0.018% now, against its 7-day average of +0.004%). If the spread goes back, that is −$2 on $10k: about 2.4 days of funding at the current rate (+$1 a day). At the pace of the last 4 days (+0.116% in total) that is about 16 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest HYPE-PERP	94.861	0.0069	pay 0.0009% / 1h	52m 54s	—	$190K	5x
Short	MEXC HYPE_USDT	94.844	0.0100	get 0.0050% / 4h	3h 52m	$94.0M	$84.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Vest. 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 VestbpFee MEXCbpOrdersPrice spread, now −0.018%Rate

Funding earned: $6.54
Price spread: −0.018% → +0.004%: −$2.22
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$1.69
Costs to cover: 0.060%
Break-even: 8.8 days

Slippage unknown: Vest: no order-book sample; MEXC: live order book, 1 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 Vest no order-book sample	—	—	—	—	—
Sell MEXC live order book, 1 min ago	0.10 bp	2.1 bp −$2	3.6 bp −$36	13.9 bp −$1,387	35.8 bp −$17.9K

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
Hibachi HYPE/USDT-P	−0.1440%	1h	94.577	−0.300%	$207K	$267K	7x	as long as short
Phemex HYPEUSDT	−0.0507%	8h	94.813	−0.051%	$12.9M	$2.9M	50x	as long as short
Aftermath Perps HYPEUSD	−0.0312%	1h	94.675	−0.196%	$22K	$20K	10x	as long as short
Bluefin HYPE-PERP	−0.0306%	1h	94.783	−0.082%	$80K	$150K	20x	as long as short
Bullet HYPE-USD	−0.0144%	1h	94.845	−0.017%	$112K	$576K	20x	as long as short
Arcus HYPE-USD	−0.0112%	1h	94.789	−0.076%	$1.0M	$3.5M	10x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	94.853	−0.009%	$88K	$364K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.756	−0.111%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0058%	1h	94.760	−0.107%	$714K	$1.2M	10x	as long as short
Kraken Futures PF_HYPEUSD	−0.0047%	1h	94.882	+0.022%	$20.3M	$30.3M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_HYPE_USDC	−0.0007%	4h	94.799	−0.065%	$147K	$685K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.808	−0.056%	$130K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.930	+0.073%	$1.9M	$5.5M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.846	−0.016%	$19K	$285K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.763	−0.104%	$124K	—	150x	as long as short
Phoenix HYPE	+0.0008%	1h	94.810	−0.054%	$208K	$1.2M	10x	as long as short
Bitget HYPEUSDT	+0.0012%	4h	94.827	−0.036%	$227.4M	$99.7M	75x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0016%	1h	94.800	−0.064%	$4.7M	$6.2M	50x	as long as short
Derive HYPE-PERP	+0.0022%	1h	94.691	−0.179%	$16.4M	$7.4M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0050%	8h	94.831	−0.032%	$339K	$154K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0064%	8h	94.817	−0.046%	$118.2M	$327.6M	50x	as long as short
Vest HYPE-PERPlong	+0.0069%	1h	94.861	long leg	—	$190K	5x
Lighter HYPE	+0.0080%	1h	94.841	−0.021%	$16.3M	$61.7M	20x	as long as short
edgeX HYPEUSDC	+0.0083%	4h	94.539	−0.340%	$5.0M	$30.7M	30x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.848	−0.014%	$3.2M	$10.2M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.837	−0.025%	$143K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.780	−0.085%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.811	−0.052%	$7.3M	$52.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.919	+0.061%	$2.09B	$688.3M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.835	−0.028%	$9.6M	$37.6M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.846	−0.016%	$10.2M	$14.8M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.855	−0.006%	$380.9M	$934.4M	75x	as long as short
Bybit HYPEUSDT	+0.0100%	8h	94.820	−0.043%	$317.8M	$288.9M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.685	−0.186%	$219K	$12K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.816	−0.048%	$50.9M	$53.6M	75x	as long as short
MEXC HYPE_USDTshort	+0.0100%	4h	94.844	−0.018%	$94.0M	$84.8M	100x
KuCoin HYPEUSDTM	+0.0100%	4h	94.830	−0.033%	$47.0M	$18.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.815	−0.049%	—	$53.3M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.821	−0.042%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.549	−0.329%	$29.9M	$55.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.656	−0.216%	$7.6M	$44.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.534	−0.345%	$351K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.702	−0.168%	$693K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.884	+0.024%	$500K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.946	+0.089%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.825	−0.038%	$2.1M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.976	+0.121%	$1.4M	$6.9M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.816	−0.048%	$18.4M	$43.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.826	−0.037%	$401K	$153K	20x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	94.850	−0.012%	$3.2M	$6.4M	20x	as long as short
Injective HYPE/USDC PERP	+0.0153%	1h	94.950	+0.094%	$31K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.820	−0.043%	$83K	$118K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0327% / S −0.0152%	1h	94.868	+0.007%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0340%	1h	94.918	+0.060%	$7.5M	$4.4M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.800	−0.064%	$17.2M	$12.5M	75x	as long as short