Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0212%/8h= +23.2% APRpaid last 24h +0.073%

Price spread now: HTX against 01 Exchange+0.141%7-day average +0.026% · 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−$23as in the Price arb table

costs, in and out, $10k−$350.348% of the position

Long on 01 Exchange Short on HTX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.092%+$9 on $10k

Price spread, last 4 days (all we have)−0.443%−$44 · spread now +0.141%, 7d avg +0.026%

Together, before fees−0.352%−$35 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and HTX is 0.114% dearer against 01 Exchange than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange HYPEUSD	95.114	−0.0112	get 0.0014% / 1h	14m 09s	$90K	$354K	20x
Short	HTX HYPE-USDT	95.248	0.0100	get 0.0050% / 4h	3h 14m	$1.4M	$6.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.141%Rate

Funding earned: $44.52
Price spread: +0.141% → +0.026%: $11.45
Slippage, 4 orders: −$15.85
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: $21.12
Costs to cover: 0.348%
Break-even: 3.7 days

Slippage from 01 Exchange: live order book, 20 min ago; HTX: live order book, 5 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, 20 min ago	0.64 bp	7.3 bp −$7	18.1 bp −$181	doesn't fit	doesn't fit
Sell HTX live order book, 5 min ago	0.63 bp	10.3 bp −$10	14.8 bp −$148	42.8 bp −$4,278	doesn't fit

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	−0.0832%	1h	94.999	−0.120%	$211K	$265K	7x	as long as short
Bluefin HYPE-PERP	−0.0543%	1h	95.043	−0.075%	$79K	$149K	20x	as long as short
Phemex HYPEUSDT	−0.0266%	8h	95.057	−0.060%	$13.0M	$2.8M	50x	as long as short
Aftermath Perps HYPEUSD	−0.0254%	1h	95.035	−0.083%	$22K	$19K	10x	as long as short
Bullet HYPE-USD	−0.0207%	1h	95.097	−0.018%	$113K	$576K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0135%	1h	95.040	−0.078%	$705K	$1.3M	10x	as long as short
dYdX HYPE-USD	−0.0128%	1h	95.078	−0.037%	$130K	$93K	5x	as long as short
01 Exchange HYPEUSDlong	−0.0112%	1h	95.114	long leg	$90K	$354K	20x
Arcus HYPE-USD	−0.0112%	1h	95.064	−0.053%	$1.0M	$3.2M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	95.099	−0.016%	$3K	$331	25x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_HYPEUSD	−0.0047%	1h	95.067	−0.049%	$18.9M	$35.7M	50x	as long as short
Bybit HYPEUSDT	−0.0011%	8h	95.060	−0.057%	$319.5M	$287.5M	75x	as long as short
Gate HYPE_USDT	−0.0008%	4h	95.058	−0.059%	$52.7M	$56.4M	75x	as long as short
Orderly PERP_HYPE_USDC	−0.0005%	4h	95.044	−0.074%	$147K	$670K	20x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	95.152	+0.040%	$1.9M	$5.5M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	95.111	−0.003%	$19K	$274K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	95.098	−0.017%	$85K	—	150x	as long as short
Phoenix HYPE	+0.0008%	1h	95.182	+0.071%	$212K	$1.2M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0016%	1h	95.090	−0.025%	$4.7M	$5.8M	50x	as long as short
Vest HYPE-PERP	+0.0024%	1h	95.167	+0.056%	—	$126K	5x	as long as short
OKX HYPE-USDT-SWAP	+0.0037%	8h	95.069	−0.047%	$118.6M	$323.0M	50x	as long as short
Bitget HYPEUSDT	+0.0040%	4h	95.068	−0.048%	$228.3M	$95.0M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0048%	8h	95.129	+0.016%	$340K	$38K	20x	as long as short
Backpack HYPE_USDC_PERP	+0.0057%	1h	95.031	−0.087%	$7.6M	$10.1M	20x	as long as short
SoDEX HYPE-USD	+0.0094%	1h	95.072	−0.044%	$2.1M	$1.9M	10x	as long as short
Lighter HYPE	+0.0096%	1h	95.067	−0.049%	$16.3M	$63.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	95.064	−0.053%	$3.2M	$10.4M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	95.088	−0.027%	$150K	$1.2M	50x	as long as short
edgeX HYPEUSDC	+0.0096%	4h	95.126	+0.013%	$5.1M	$31.1M	30x	as long as short
Aster HYPEUSDT	+0.0097%	4h	95.052	−0.065%	$9.0M	$36.7M	300x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	95.110	−0.004%	$40K	$1.5M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	95.073	−0.043%	$5.9M	$52.3M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	95.210	+0.101%	$2.10B	$678.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	95.128	+0.015%	$10.3M	$14.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	95.067	−0.049%	$382.7M	$916.1M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	95.126	+0.013%	$222K	$14K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	95.067	−0.049%	$98.2M	$89.0M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	95.070	−0.046%	$47.4M	$18.6M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	95.068	−0.048%	—	$52.8M	—	as long as short
Variational Omni HYPE	+0.0100%	8h	95.091	−0.024%	$29.9M	$56.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	95.104	−0.011%	$7.7M	$44.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	95.124	+0.011%	$348K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	95.098	−0.017%	$692K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	95.088	−0.027%	$500K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	95.025	−0.094%	$33K	$1.5M	20x	as long as short
HTX HYPE-USDTshort	+0.0100%	4h	95.248	+0.141%	$1.4M	$6.7M	75x
Extended HYPE-USD	+0.0104%	1h	95.037	−0.081%	$18.3M	$42.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	95.050	−0.068%	$402K	$136K	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0118%	1h	95.149	+0.037%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	95.088	−0.027%	$3.1M	$6.3M	20x	as long as short
Injective HYPE/USDC PERP	+0.0153%	1h	95.380	+0.280%	$31K	$340K	12x	as long as short
Reya HYPERUSDPERP	+0.0271%	1h	95.040	−0.077%	$85K	$94K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0155%	1h	95.118	+0.004%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	95.062	−0.055%	$17.2M	$12.3M	75x	as long as short