Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0225%/8h= +24.7% APRpaid last 24h +0.062%

Price spread now: HTX against dYdX+0.145%7-day average +0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$780.780% of the position

Long on dYdX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.179%+$18 on $10k

Price spread, last 3 days (all we have)−0.197%−$20 · spread now +0.145%, 7d avg +0.037%

Together, before fees−0.018%−$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and HTX is 0.108% dearer against dYdX than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX HYPE-USD	94.120	0	get 0.0000% / 1h	38m 33s	$128K	$30K	5x
Short	HTX HYPE-USDT	94.257	0.0225	get 0.0113% / 4h	38m 33s	$1.5M	$7.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against dYdX. 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 dYdXbpFee HTXbpOrdersPrice spread, now +0.145%Rate

Funding earned: $47.3
Price spread: +0.145% → +0.037%: $10.78
Slippage, 4 orders: −$56.04
Fee dYdX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$19.96
Costs to cover: 0.780%
Break-even: 10.0 days

Slippage from dYdX: live order book, 40 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 dYdX live order book, 40 min ago	25.09 bp	30.1 bp −$30	42.5 bp −$425	480.5 bp −$48.0K	1639.4 bp −$819.7K
Sell HTX live order book, 5 min ago	0.05 bp	9.0 bp −$9	12.1 bp −$121	54.2 bp −$5,418	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	−0.0672%	1h	93.967	−0.163%	$199K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0410%	1h	94.095	−0.027%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	94.003	−0.125%	$1.2M	$3.8M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.099	−0.023%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0016%	1h	94.010	−0.117%	$704K	$908K	10x	as long as short
dYdX HYPE-USDlong	0.0000%	1h	94.120	long leg	$128K	$30K	5x
01 Exchange HYPEUSD	0.0000%	1h	94.125	+0.005%	$87K	$365K	20x	as long as short
Perpl HYPE	0.0000%	43m	94.152	+0.034%	$23K	$329K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	94.100	−0.022%	$27K	—	150x	as long as short
Orderly PERP_HYPE_USDC	+0.0008%	4h	94.079	−0.044%	$164K	$579K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix HYPE	+0.0009%	1h	94.116	−0.005%	$215K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0021%	8h	94.120	0.000%	$324.1M	$282.7M	75x	as long as short
Aster HYPEUSDT	+0.0035%	4h	94.088	−0.034%	$8.9M	$35.9M	300x	as long as short
Derive HYPE-PERP	+0.0052%	1h	94.024	−0.102%	$16.5M	$7.1M	10x	as long as short
Phemex HYPEUSDT	+0.0059%	8h	94.071	−0.052%	$12.8M	$2.6M	50x	as long as short
MEXC HYPE_USDT	+0.0070%	4h	94.080	−0.043%	$88.9M	$81.2M	100x	as long as short
Binance HYPEUSDT	+0.0071%	4h	94.130	+0.010%	$385.4M	$891.2M	75x	as long as short
edgeX HYPEUSDC	+0.0076%	4h	94.051	−0.074%	$5.1M	$29.8M	30x	as long as short
Gate HYPE_USDT	+0.0080%	4h	94.077	−0.046%	$44.6M	$58.7M	75x	as long as short
Lighter HYPE	+0.0096%	1h	94.131	+0.011%	$19.0M	$59.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.111	−0.010%	$3.1M	$12.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.130	+0.010%	$64K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	94.089	−0.034%	$400K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	94.090	−0.032%	$342K	$171K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.160	+0.042%	$29K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.124	+0.005%	$5.7M	$44.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.120	0.000%	$10.1M	$14.5M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	94.130	+0.010%	$116.0M	$320.2M	50x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.114	−0.007%	$47.2M	$18.4M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	94.141	+0.022%	$228.0M	$102.8M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.082	−0.041%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.099	−0.023%	$7.9M	$10.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.033	−0.092%	$31.4M	$53.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.098	−0.023%	$7.6M	$45.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.049	−0.076%	$335K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.077	−0.046%	$680K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.142	+0.023%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.144	+0.025%	$492K	$2.5M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	94.061	−0.063%	$112K	$579K	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	94.084	−0.039%	$76K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.093	−0.029%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.076	−0.047%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.120	0.000%	$205K	$7K	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.000	−0.128%	$31K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.070	−0.054%	$18.4M	$42.6M	50x	as long as short
Kalshi KXHYPEPERP	+0.0134%	8h	94.120	0.000%	$1.9M	$5.0M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	94.150	+0.032%	$4.9M	$5.7M	50x	as long as short
HTX HYPE-USDTshort	+0.0225%	4h	94.257	+0.145%	$1.5M	$7.8M	75x
Reya HYPERUSDPERP	+0.0248%	1h	94.120	−0.001%	$77K	$142K	15x	as long as short
BloFin HYPE-USDT	+0.0283%	4h	94.068	−0.056%	$17.0M	$12.6M	75x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	94.159	+0.042%	$2.8M	$6.9M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0340% / S −0.0165%	1h	94.094	−0.028%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0345%	1h	94.179	+0.062%	$7.4M	$4.6M	50x	as long as short
Hyperliquid HYPE	+0.0421%	1h	94.211	+0.096%	$2.05B	$667.1M	10x	as long as short
Kraken Futures PF_HYPEUSD	+0.0576%	1h	94.192	+0.076%	$21.1M	$29.2M	50x	as long as short