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% APRnext payment +$0.00 per $10,000 · paid last 24h +0.007%

Price spread now: SoDEX against Vest−0.119%7-day average +0.011% · you buy dearer than you sell

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

Long on Vest Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.118%+$12 on $10k

Price spread, last 4 days (all we have)+0.093%+$9 · spread now −0.119%, 7d avg +0.011%

Together, before fees+0.211%+ Points / potential airdropVest: Active · farm board+$21 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: SoDEX is 0.130% cheaper against Vest than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of +0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest HYPE-PERP	92.343	0.0100	pay 0.0013% / 1h	42m 48s	—	$243K	5x
Short	SoDEX HYPE-USD	92.233	0.0100	get 0.0013% / 1h	42m 48s	$2.0M	$2.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.119%Rate

Funding earned: $0
Price spread: −0.119% → +0.011%: −$12.99
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$22.99
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Vest: no order-book sample; SoDEX: 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 SoDEX live order book, 1 min ago	0.05 bp	7.0 bp −$7	11.8 bp −$118	101.3 bp −$10.1K	doesn't fit

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
Arcus HYPE-USD	−0.0948%	1h	92.247	−0.104%	$1.2M	$3.8M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0536%	1h	92.271	−0.077%	$193K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0159%	1h	92.320	−0.025%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0128%	1h	92.323	−0.021%	$85K	$354K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.319	−0.026%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0070%	4h	92.220	−0.133%	$157K	$663K	20x	as long as short
Bullet HYPE-USD	−0.0052%	1h	92.268	−0.081%	$110K	$579K	20x	as long as short
Aster HYPEUSDT	−0.0005%	4h	92.235	−0.116%	$8.7M	$36.4M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.232	−0.120%	$126K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.292	−0.055%	$22K	$310K	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.283	−0.065%	$61K	—	150x	as long as short
Ondo Perps HYPE-USD.P	+0.0027%	1h	92.230	−0.122%	$696K	$1.1M	10x	as long as short
BingX HYPE-USDT	+0.0030%	4h	92.183	−0.173%	—	$53.3M	—	as long as short
Phoenix HYPE	+0.0043%	1h	92.246	−0.105%	$209K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0048%	8h	92.235	−0.117%	$315.4M	$281.1M	75x	as long as short
Gate HYPE_USDT	+0.0054%	4h	92.179	−0.177%	$44.2M	$54.8M	75x	as long as short
Phemex HYPEUSDT	+0.0059%	8h	92.231	−0.121%	$12.5M	$2.7M	50x	as long as short
Derive HYPE-PERP	+0.0070%	1h	92.200	−0.154%	$16.0M	$7.5M	10x	as long as short
MEXC HYPE_USDT	+0.0074%	4h	92.190	−0.165%	$87.0M	$80.5M	100x	as long as short
OKX HYPE-USDT-SWAP	+0.0076%	8h	92.200	−0.154%	$112.7M	$301.5M	50x	as long as short
edgeX HYPEUSDC	+0.0078%	4h	92.205	−0.149%	$4.9M	$29.5M	30x	as long as short
Binance HYPEUSDT	+0.0080%	4h	92.243	−0.108%	$369.8M	$899.1M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0091%	8h	92.385	+0.046%	$338K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.217	−0.136%	$16.0M	$62.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.218	−0.135%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.325	−0.019%	$68K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	92.210	−0.143%	$390K	$164K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.260	−0.089%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.332	−0.012%	$5.8M	$43.2M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.251	−0.099%	$2.01B	$665.0M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.366	+0.026%	$10.0M	$15.0M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.245	−0.106%	$201K	$13K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.198	−0.157%	$45.7M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.193	−0.162%	$223.6M	$98.3M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.214	−0.139%	$7.3M	$10.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.158	−0.200%	$28.3M	$57.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.209	−0.145%	$7.5M	$45.9M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.186	−0.170%	$337K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.228	−0.124%	$662K	$2.7M	20x	as long as short
Vest HYPE-PERPlong	+0.0100%	1h	92.343	long leg	—	$243K	5x
Polymarket Perps HYPE-USD	+0.0100%	1h	92.325	−0.019%	$475K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.271	−0.078%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USDshort	+0.0100%	1h	92.233	−0.119%	$2.0M	$2.0M	10x
HTX HYPE-USDT	+0.0100%	4h	92.388	+0.049%	$1.4M	$6.2M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.177	−0.179%	$18.1M	$43.5M	50x	as long as short
Bluefin HYPE-PERP	+0.0136%	1h	92.240	−0.111%	$78K	$169K	20x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	93.000	+0.712%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.420	+0.084%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0257%	8h	92.335	−0.008%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0261%	1h	92.268	−0.081%	$79K	$139K	15x	as long as short
BloFin HYPE-USDT	+0.0304%	4h	92.211	−0.143%	$16.7M	$11.5M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0329% / S −0.0153%	1h	92.279	−0.069%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0333%	1h	92.295	−0.052%	$20.5M	$30.4M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0606%	1h	92.337	−0.006%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.404	+0.067%	$3.1M	$6.4M	20x	as long as short