Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0016%/8h= +1.8% APRpaid last 24h +0.090%

Price spread now: MEXC against Arcus+0.043%7-day average +0.027% · 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−$11as in the Price arb table

costs, in and out, $10k−$130.130% of the position

Long on Arcus Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.121%+$12 on $10k

Price spread, last 7 days+0.004%$0 · spread now +0.043%, 7d avg +0.027%

Together, before fees+0.125%+$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.027%, so right now this pair is about funding alone: $0 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus HYPE-USD	93.504	0.0084	pay 0.0010% / 1h	30m 19s	$1.0M	$4.0M	10x
Short	MEXC HYPE_USDT	93.544	0.0100	get 0.0050% / 4h	1h 30m	$90.4M	$84.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Arcus. 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 ArcusbpFee MEXCbpOrdersPrice spread, now +0.043%Rate

Funding earned: $3.39
Price spread: +0.043% → +0.027%: $1.58
Slippage, 4 orders: −$4.54
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$8.07
Costs to cover: 0.130%
Break-even: 23.7 days

Slippage from Arcus: live order book, 4 min ago; MEXC: live order book, 4 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 Arcus live order book, 4 min ago	0.59 bp	3.2 bp −$3	4.3 bp −$43	22.7 bp −$2,267	doesn't fit
Sell MEXC live order book, 4 min ago	1.12 bp	3.1 bp −$3	4.3 bp −$43	12.7 bp −$1,272	36.8 bp −$18.4K

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	−0.1000%	1h	93.453	−0.055%	$198K	$240K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0194%	1h	93.498	−0.007%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0087%	1h	93.420	−0.090%	$703K	$1.2M	10x	as long as short
Bullet HYPE-USD	−0.0086%	1h	93.533	+0.031%	$111K	$579K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.493	−0.012%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0048%	1h	93.558	+0.058%	$86K	$369K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0021%	4h	93.537	+0.035%	$145K	$685K	20x	as long as short
Bluefin HYPE-PERP	−0.0017%	1h	93.544	+0.043%	$79K	$155K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.519	+0.016%	$128K	$26K	5x	as long as short
Bybit HYPEUSDT	0.0000%	8h	93.542	+0.041%	$315.7M	$287.9M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	93.513	+0.010%	$20K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.520	+0.017%	$83K	—	150x	as long as short
BingX HYPE-USDT	+0.0002%	4h	93.560	+0.060%	—	$53.5M	—	as long as short
Derive HYPE-PERP	+0.0007%	1h	93.302	−0.216%	$16.2M	$7.5M	10x	as long as short
Phoenix HYPE	+0.0017%	1h	93.508	+0.004%	$209K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0046%	4h	93.552	+0.051%	$225.4M	$99.5M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0076%	8h	93.565	+0.065%	$334K	$161K	20x	as long as short
Arcus HYPE-USDlong	+0.0084%	1h	93.504	long leg	$1.0M	$4.0M	10x
edgeX HYPEUSDC	+0.0084%	4h	93.440	−0.068%	$5.0M	$30.6M	30x	as long as short
Phemex HYPEUSDT	+0.0091%	8h	93.495	−0.010%	$12.8M	$2.8M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.493	−0.012%	$16.1M	$64.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.524	+0.021%	$3.1M	$11.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.525	+0.022%	$78K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.510	+0.006%	$21K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.510	+0.007%	$7.5M	$50.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.603	+0.106%	$2.05B	$682.4M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.565	+0.065%	$8.8M	$37.0M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.547	+0.046%	$10.1M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.573	+0.074%	$374.4M	$929.3M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.535	+0.033%	$115.4M	$315.0M	50x	as long as short
Gate HYPE_USDT	+0.0100%	4h	93.531	+0.029%	$48.6M	$55.3M	75x	as long as short
MEXC HYPE_USDTshort	+0.0100%	4h	93.544	+0.043%	$90.4M	$84.2M	100x
KuCoin HYPEUSDTM	+0.0100%	4h	93.542	+0.041%	$46.3M	$18.7M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.521	+0.018%	$7.2M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.449	−0.059%	$28.7M	$56.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.469	−0.037%	$7.5M	$48.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.494	−0.011%	$354K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.466	−0.041%	$677K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.584	+0.086%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.570	+0.071%	$470K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.564	+0.064%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.489	−0.016%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.546	+0.045%	$1.4M	$6.7M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.438	−0.070%	$216K	$15K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.491	−0.014%	$18.2M	$43.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.485	−0.020%	$395K	$159K	20x	as long as short
Kalshi KXHYPEPERP	+0.0105%	8h	93.475	−0.031%	$1.8M	$5.6M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	93.490	−0.015%	$4.7M	$6.1M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0152% / S +0.0022%	1h	93.515	+0.012%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	93.460	−0.047%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0271%	1h	93.543	+0.042%	$77K	$129K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0274%	1h	93.582	+0.083%	$7.5M	$4.2M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.489	−0.016%	$16.9M	$12.2M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0416%	1h	93.566	+0.067%	$20.9M	$29.6M	50x	as long as short
RISEx HYPE/USDC	+0.0559%	1h	93.563	+0.063%	$3.2M	$6.4M	20x	as long as short