Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0092%/8h= +10.1% APRpaid last 24h +0.019%

Price spread now: StandX against Bybit+0.106%7-day average +0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$330.327% of the position

Long on Bybit Short on StandX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.068%+$7 on $10k

Price spread, last 7 days−0.111%−$11 · spread now +0.106%, 7d avg +0.020%

Together, before fees−0.042%+ Points / potential airdropStandX: Active · farm board−$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and StandX is 0.086% dearer against Bybit than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit HYPEUSDT	93.550	0.0008	pay 0.0008% / 8h	1h 46m	$316.0M	$287.9M	75x
Short	StandX HYPE-USD	93.649	0.0100	get 0.0013% / 1h	46m 00s	$678K	$2.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

StandX against Bybit. 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 BybitbpFee StandXbpOrdersPrice spread, now +0.106%Rate

Funding earned: $19.33
Price spread: +0.106% → +0.020%: $8.57
Slippage, 4 orders: −$13.66
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee StandX: 4 bp × 2 orders: −$8
Net: −$4.75
Costs to cover: 0.327%
Break-even: 8.7 days

Slippage from Bybit: live order book, 3 min ago; StandX: 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 Bybit live order book, 3 min ago	0.53 bp	7.0 bp −$7	7.1 bp −$71	15.4 bp −$1,544	51.1 bp −$25.5K
Sell StandX live order book, 3 min ago	5.02 bp	10.4 bp −$10	12.1 bp −$121	35.4 bp −$3,535	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	−0.1096%	1h	93.581	+0.033%	$198K	$242K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0234%	1h	93.764	+0.229%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0125%	1h	93.570	+0.021%	$705K	$1.2M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.621	+0.076%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0071%	1h	93.591	+0.044%	$111K	$580K	20x	as long as short
01 Exchange HYPEUSD	−0.0064%	1h	93.625	+0.080%	$86K	$370K	20x	as long as short
Bluefin HYPE-PERP	−0.0035%	1h	93.576	+0.028%	$79K	$156K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0020%	4h	93.559	+0.010%	$145K	$685K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.698	+0.158%	$128K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.652	+0.109%	$21K	$287K	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 −0.0002%	1h	93.634	+0.090%	$63K	—	150x	as long as short
BingX HYPE-USDT	+0.0006%	4h	93.552	+0.002%	—	$53.7M	—	as long as short
Bybit HYPEUSDTlong	+0.0008%	8h	93.550	long leg	$316.0M	$287.9M	75x
Phoenix HYPE	+0.0017%	1h	93.687	+0.146%	$209K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0040%	4h	93.575	+0.027%	$225.3M	$99.5M	75x	as long as short
Phemex HYPEUSDT	+0.0074%	8h	93.592	+0.045%	$12.8M	$2.8M	50x	as long as short
edgeX HYPEUSDC	+0.0082%	4h	93.648	+0.105%	$5.0M	$30.6M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0082%	8h	93.656	+0.114%	$335K	$161K	20x	as long as short
Arcus HYPE-USD	+0.0084%	1h	93.600	+0.053%	$1.0M	$4.0M	10x	as long as short
Derive HYPE-PERP	+0.0092%	1h	93.549	−0.001%	$16.3M	$7.4M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.596	+0.049%	$16.1M	$63.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.597	+0.050%	$3.1M	$11.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.607	+0.061%	$78K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.630	+0.086%	$22K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.617	+0.071%	$7.4M	$50.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.659	+0.117%	$2.05B	$682.9M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.577	+0.029%	$8.8M	$37.3M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.667	+0.125%	$10.1M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.571	+0.022%	$375.0M	$930.7M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.560	+0.011%	$115.6M	$316.0M	50x	as long as short
Gate HYPE_USDT	+0.0100%	4h	93.558	+0.009%	$48.4M	$55.0M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.572	+0.024%	$90.0M	$83.6M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.564	+0.015%	$46.2M	$18.8M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.592	+0.045%	$7.2M	$10.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.670	+0.128%	$28.6M	$56.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.726	+0.188%	$7.6M	$48.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.674	+0.133%	$347K	$1.0M	50x	as long as short
StandX HYPE-USDshort	+0.0100%	1h	93.649	+0.106%	$678K	$2.8M	20x
Vest HYPE-PERP	+0.0100%	1h	93.677	+0.136%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.633	+0.089%	$470K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.702	+0.162%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.563	+0.014%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.783	+0.249%	$1.4M	$6.7M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.731	+0.194%	$216K	$15K	10x	as long as short
Kalshi KXHYPEPERP	+0.0102%	8h	93.619	+0.074%	$1.8M	$5.6M	2.3x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.550	0.000%	$18.2M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.581	+0.034%	$396K	$159K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	93.610	+0.064%	$4.7M	$6.1M	50x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	93.640	+0.096%	$30K	$339K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0252%	1h	93.679	+0.138%	$7.4M	$4.2M	50x	as long as short
Reya HYPERUSDPERP	+0.0271%	1h	93.569	+0.020%	$77K	$130K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0333% / S −0.0154%	1h	93.625	+0.080%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.653	+0.110%	$17.0M	$12.2M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0415%	1h	93.648	+0.105%	$20.9M	$29.6M	50x	as long as short
RISEx HYPE/USDC	+0.0559%	1h	93.647	+0.104%	$3.2M	$6.4M	20x	as long as short