Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.007%

Price spread now: SunX against Vest−0.028%7-day average +0.078% · you buy dearer than you sell

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

Long on Vest Short on SunX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.125%+$13 on $10k

Price spread, last 3 days (all we have)+0.138%+$14 · spread now −0.028%, 7d avg +0.078%

Together, before fees+0.263%+ Points / potential airdropVest: Active · farm board+$26 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: SunX is 0.106% cheaper against Vest than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of +0.078%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest HYPE-PERP	94.043	0.0100	pay 0.0013% / 1h	59m 07s	—	$454K	5x
Short	SunX HYPE-USDT	94.016	0.0100	get 0.0050% / 4h	3h 59m	$32K	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.028%Rate

Funding earned: $0
Price spread: −0.028% → +0.078%: −$10.59
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee SunX: 4 bp × 2 orders: −$8
Net: −$20.59
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Vest: no order-book sample; SunX: live order book, 6 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 SunX live order book, 6 min ago	54.37 bp	67.7 bp −$68	doesn't fit	doesn't fit	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 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	−0.1416%	1h	93.956	−0.092%	$199K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0339%	1h	93.995	−0.051%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	93.854	−0.201%	$1.2M	$3.8M	10x	as long as short
01 Exchange HYPEUSD	−0.0200%	1h	94.009	−0.036%	$86K	$368K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.049	+0.007%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0074%	1h	93.960	−0.088%	$705K	$924K	10x	as long as short
Bullet HYPE-USD	−0.0051%	1h	93.986	−0.060%	$112K	$578K	20x	as long as short
dYdX HYPE-USD	−0.0021%	1h	94.052	+0.010%	$128K	$30K	5x	as long as short
Derive HYPE-PERP	−0.0015%	1h	93.908	−0.143%	$16.4M	$7.2M	10x	as long as short
Orderly PERP_HYPE_USDC	−0.0007%	4h	93.971	−0.076%	$169K	$594K	20x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	94.012	−0.033%	$23K	$329K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	94.001	−0.044%	$27K	—	150x	as long as short
Phoenix HYPE	+0.0009%	1h	94.114	+0.076%	$218K	$1.2M	10x	as long as short
Aster HYPEUSDT	+0.0019%	4h	94.013	−0.031%	$8.9M	$36.1M	300x	as long as short
Phemex HYPEUSDT	+0.0023%	8h	94.030	−0.013%	$12.8M	$2.6M	50x	as long as short
MEXC HYPE_USDT	+0.0044%	4h	93.952	−0.096%	$88.4M	$81.0M	100x	as long as short
SoDEX HYPE-USD	+0.0045%	1h	93.972	−0.075%	$2.0M	$2.0M	10x	as long as short
Binance HYPEUSDT	+0.0047%	4h	93.963	−0.085%	$384.0M	$899.5M	75x	as long as short
edgeX HYPEUSDC	+0.0053%	4h	93.991	−0.054%	$5.1M	$29.7M	30x	as long as short
Gate HYPE_USDT	+0.0066%	4h	93.955	−0.093%	$44.3M	$58.3M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0085%	8h	93.945	−0.104%	$116.0M	$322.6M	50x	as long as short
Lighter HYPE	+0.0096%	1h	94.026	−0.018%	$18.9M	$58.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.999	−0.046%	$3.1M	$12.0M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.014	−0.030%	$60K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	94.004	−0.041%	$400K	$190K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	94.104	+0.065%	$342K	$171K	20x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.023	−0.020%	$6.6M	$44.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.062	+0.021%	$2.05B	$680.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.027	−0.017%	$10.1M	$14.6M	20x	as long as short
Bybit HYPEUSDT	+0.0100%	8h	93.930	−0.120%	$323.2M	$283.8M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.889	−0.164%	$205K	$7K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.968	−0.079%	$46.5M	$18.5M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.948	−0.101%	$227.6M	$101.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.934	−0.115%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.971	−0.076%	$7.7M	$10.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.972	−0.075%	$31.4M	$54.2M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.052	+0.010%	$7.6M	$45.4M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.033	−0.010%	$340K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.047	+0.005%	$680K	$2.5M	20x	as long as short
Vest HYPE-PERPlong	+0.0100%	1h	94.043	long leg	—	$454K	5x
Polymarket Perps HYPE-USD	+0.0100%	1h	94.034	−0.009%	$472K	$2.5M	20x	as long as short
SunX HYPE-USDTshort	+0.0100%	4h	94.016	−0.028%	$32K	$1.6M	20x
HTX HYPE-USDT	+0.0100%	4h	94.146	+0.110%	$1.5M	$7.8M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.960	−0.088%	$18.4M	$42.7M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	94.080	+0.040%	$4.9M	$5.7M	50x	as long as short
Kalshi KXHYPEPERP	+0.0162%	8h	94.045	+0.003%	$1.9M	$5.1M	2.3x	as long as short
BloFin HYPE-USDT	+0.0188%	4h	93.972	−0.075%	$17.0M	$12.6M	75x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	93.990	−0.056%	$31K	$338K	12x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	94.009	−0.036%	$2.8M	$6.9M	20x	as long as short
Reya HYPERUSDPERP	+0.0250%	1h	94.000	−0.045%	$77K	$142K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0157%	1h	93.998	−0.047%	$1.5M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0378%	1h	94.079	+0.039%	$7.5M	$4.7M	50x	as long as short
Bluefin HYPE-PERP	+0.0558%	1h	93.999	−0.046%	$76K	$171K	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0671%	1h	94.089	+0.050%	$21.0M	$29.5M	50x	as long as short