Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0070%/8h= +7.7% APRpaid last 24h +0.024%

Price spread now: edgeX against 01 Exchange+0.001%57s7-day average −0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$210.207% of the position

Long on 01 Exchange Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.046%+$5 on $10k

Price spread, last 4 days (all we have)−0.440%−$44 · spread now +0.001%, 7d avg −0.035%

Together, before fees−0.394%+ Points / potential airdropedgeX: Active · farm board−$39 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and edgeX is 0.035% dearer against 01 Exchange than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.035%. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange HYPEUSD	93.058	0.0024	pay 0.0003% / 1h	11m 53s	$87K	$365K	20x
Short	edgeX HYPEUSDC	93.059	0.0094	get 0.0047% / 4h	3h 11m	$4.9M	$29.8M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against 01 Exchange. 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 01 ExchangebpFee edgeXbpOrdersPrice spread, now +0.001%Rate

Funding earned: $14.79
Price spread: +0.001% → −0.035%: $3.54
Slippage, 4 orders: −$4.7
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$2.37
Costs to cover: 0.207%
Break-even: 8.1 days

Slippage from 01 Exchange: live order book, 42 min ago; edgeX: live order book, 2 min ago.

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 01 Exchange live order book, 42 min ago	0.16 bp	5.1 bp −$5	10.9 bp −$109	doesn't fit	doesn't fit
Sell edgeX live order book, 2 min ago	0.32 bp	4.8 bp −$5	5.4 bp −$54	187.7 bp −$18.8K	doesn't fit

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	−0.1800%	1h	93.146	+0.094%	$194K	$231K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0310%	1h	93.023	−0.038%	$22K	$21K	10x	as long as short
Arcus HYPE-USD	−0.0194%	1h	93.014	−0.047%	$1.1M	$3.9M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.086	+0.030%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0053%	4h	93.023	−0.038%	$146K	$674K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.075	+0.019%	$128K	$29K	5x	as long as short
Ondo Perps HYPE-USD.P	0.0000%	1h	92.980	−0.084%	$701K	$1.1M	10x	as long as short
Perpl HYPE	0.0000%	43m	93.065	+0.008%	$22K	$293K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.055	−0.003%	$62K	—	150x	as long as short
Bullet HYPE-USD	+0.0012%	1h	93.017	−0.044%	$111K	$578K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange HYPEUSDlong	+0.0024%	1h	93.058	long leg	$87K	$365K	20x
Phoenix HYPE	+0.0026%	1h	93.056	−0.002%	$208K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0027%	8h	93.030	−0.030%	$317.4M	$284.3M	75x	as long as short
Phemex HYPEUSDT	+0.0029%	8h	93.021	−0.040%	$12.6M	$2.7M	50x	as long as short
Bitget HYPEUSDT	+0.0038%	4h	93.039	−0.020%	$225.1M	$98.8M	75x	as long as short
Popdex HYPEUSDT	+0.0048%	1h	93.031	−0.029%	$76K	$1.1M	50x	as long as short
Gate HYPE_USDT	+0.0054%	4h	93.039	−0.020%	$45.4M	$54.7M	75x	as long as short
edgeX HYPEUSDCshort	+0.0094%	4h	93.059	+0.001%	$4.9M	$29.8M	30x
Paradex HYPE-USD-PERP	+0.0096%	8h	93.063	+0.006%	$339K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.051	−0.007%	$16.0M	$62.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.056	−0.002%	$3.1M	$11.6M	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.020	−0.041%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.065	+0.008%	$6.8M	$46.5M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.100	+0.045%	$2.03B	$669.9M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.058	0.000%	$8.7M	$36.4M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.052	−0.006%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.054	−0.004%	$373.5M	$910.2M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.059	+0.001%	$113.9M	$305.3M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.125	+0.072%	$203K	$3K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.038	−0.021%	$91.4M	$81.4M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.034	−0.026%	$46.1M	$18.5M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.043	−0.016%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.070	+0.013%	$7.3M	$11.2M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.999	−0.064%	$28.6M	$56.8M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.078	+0.021%	$7.5M	$46.7M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.266	+0.224%	$342K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.057	−0.001%	$665K	$2.9M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.103	+0.048%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.058	0.000%	$488K	$2.7M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.046	−0.013%	$79K	$167K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.024	−0.036%	$16.0M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.094	+0.039%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.037	−0.023%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.167	+0.117%	$1.4M	$6.3M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.004	−0.058%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.036	−0.023%	$393K	$164K	20x	as long as short
Kalshi KXHYPEPERP	+0.0126%	8h	93.097	+0.042%	$1.8M	$5.5M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.220	+0.174%	$4.7M	$5.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0196%	1h	93.120	+0.067%	$20.7M	$29.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0242%	1h	93.410	+0.378%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0266%	1h	93.019	−0.042%	$79K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	93.053	−0.005%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.113	+0.059%	$16.8M	$11.8M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0491%	1h	93.135	+0.083%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0598%	1h	93.100	+0.045%	$3.2M	$6.3M	20x	as long as short