Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0132%/8h= +14.5% APRpaid last 24h +0.001%

Price spread now: OKX against 01 Exchange+0.010%7-day average −0.050% · 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−$18as in the Price arb table

costs, in and out, $10k−$240.239% of the position

Long on 01 Exchange Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.005%+$1 on $10k

Price spread, last 4 days (all we have)−0.110%−$11 · spread now +0.010%, 7d avg −0.050%

Together, before fees−0.105%−$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and OKX is 0.059% dearer against 01 Exchange than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange HYPEUSD	93.224	−0.0032	get 0.0004% / 1h	21m 28s	$90K	$361K	20x
Short	OKX HYPE-USDT-SWAP	93.233	0.0100	get 0.0100% / 8h	1h 21m	$113.9M	$314.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.010%Rate

Funding earned: $27.72
Price spread: +0.010% → −0.050%: $5.94
Slippage, 4 orders: −$6.94
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: $9.73
Costs to cover: 0.239%
Break-even: 4.5 days

Slippage from 01 Exchange: live order book, 63 min ago; OKX: live order book, 3 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, 63 min ago	0.05 bp	6.3 bp −$6	11.1 bp −$111	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	0.05 bp	5.9 bp −$6	9.3 bp −$93	16.9 bp −$1,687	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
Aftermath Perps HYPEUSD	−0.0417%	1h	93.054	−0.182%	$22K	$22K	10x	as long as short
Hibachi HYPE/USDT-P	−0.0320%	1h	93.155	−0.075%	$197K	$230K	7x	as long as short
Arcus HYPE-USD	−0.0131%	1h	93.148	−0.082%	$1.2M	$4.0M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0126%	1h	93.150	−0.079%	$699K	$928K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.230	+0.006%	$3K	$331	25x	as long as short
01 Exchange HYPEUSDlong	−0.0032%	1h	93.224	long leg	$90K	$361K	20x
Popdex HYPEUSDT	−0.0008%	1h	93.195	−0.031%	$58K	$1.2M	50x	as long as short
Aster HYPEUSDT	−0.0008%	4h	93.240	+0.017%	$8.9M	$36.0M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.276	+0.056%	$127K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.131	−0.099%	$23K	$331K	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 −0.0001%	1h	93.218	−0.006%	$20K	—	150x	as long as short
Bybit HYPEUSDT	+0.0022%	8h	93.220	−0.004%	$323.2M	$287.4M	75x	as long as short
Orderly PERP_HYPE_USDC	+0.0022%	4h	93.210	−0.015%	$172K	$518K	20x	as long as short
Derive HYPE-PERP	+0.0029%	1h	93.150	−0.079%	$16.3M	$7.1M	10x	as long as short
Phoenix HYPE	+0.0034%	1h	93.030	−0.208%	$214K	$1.2M	10x	as long as short
Gate HYPE_USDT	+0.0054%	4h	93.221	−0.003%	$43.9M	$58.5M	75x	as long as short
Bullet HYPE-USD	+0.0061%	1h	93.163	−0.066%	$111K	$580K	20x	as long as short
MEXC HYPE_USDT	+0.0062%	4h	93.243	+0.020%	$90.4M	$82.2M	100x	as long as short
Binance HYPEUSDT	+0.0064%	4h	93.232	+0.009%	$381.8M	$895.6M	75x	as long as short
edgeX HYPEUSDC	+0.0074%	4h	92.953	−0.291%	$5.0M	$29.6M	30x	as long as short
Lighter HYPE	+0.0096%	1h	93.297	+0.079%	$18.6M	$59.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.277	+0.057%	$3.1M	$12.2M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.227	+0.004%	$397K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0098%	8h	93.246	+0.024%	$339K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.190	−0.036%	$35K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.209	−0.016%	$5.9M	$44.2M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.242	+0.019%	$2.03B	$669.1M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.252	+0.030%	$10.0M	$14.3M	20x	as long as short
OKX HYPE-USDT-SWAPshort	+0.0100%	8h	93.233	+0.010%	$113.9M	$314.6M	50x
Bulk HYPE-USD	+0.0100%	1h	93.030	−0.208%	$203K	$8K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.242	+0.019%	$47.0M	$18.8M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.243	+0.020%	$226.0M	$103.2M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.204	−0.021%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.240	+0.017%	$7.8M	$11.1M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.933	−0.312%	$28.9M	$50.6M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.008	−0.231%	$7.5M	$45.9M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.016	−0.223%	$414K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.100	−0.133%	$673K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.238	+0.015%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.242	+0.019%	$493K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.214	−0.011%	$76K	$167K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.159	−0.070%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.206	−0.019%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.188	−0.039%	$12.7M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.189	−0.037%	$18.2M	$42.0M	50x	as long as short
Kalshi KXHYPEPERP	+0.0108%	8h	93.172	−0.056%	$1.9M	$5.3M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.180	−0.047%	$4.9M	$5.7M	50x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	92.880	−0.369%	$30K	$338K	12x	as long as short
HTX HYPE-USDT	+0.0241%	4h	93.350	+0.135%	$1.5M	$7.7M	75x	as long as short
Reya HYPERUSDPERP	+0.0247%	1h	93.226	+0.002%	$77K	$159K	15x	as long as short
BloFin HYPE-USDT	+0.0254%	4h	92.996	−0.245%	$16.9M	$12.5M	75x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.277	+0.057%	$2.7M	$6.8M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0158%	1h	93.197	−0.029%	$1.5M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0447%	1h	93.303	+0.085%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0465%	1h	93.317	+0.100%	$20.9M	$29.0M	50x	as long as short