Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0174%/8h= +19.0% APRpaid last 24h +0.032%

Price spread now: Paradex against dYdX+0.022%7-day average +0.015% · 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−$68as in the Price arb table

costs, in and out, $10k−$690.685% of the position

Long on dYdX Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.079%+$8 on $10k

Price spread, last 4 days (all we have)−0.009%−$1 · spread now +0.022%, 7d avg +0.015%

Together, before fees+0.070%+ Points / potential airdropParadex: Active · farm board+$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.015%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX HYPE-USD	93.429	−0.0075	get 0.0009% / 1h	0m 41s	$128K	$31K	5x
Short	Paradex HYPE-USD-PERP	93.449	0.0099	get 0.0099% / 8h	7h 00m	$339K	$165K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.022%Rate

Funding earned: $36.51
Price spread: +0.022% → +0.015%: $0.76
Slippage, 4 orders: −$54.51
Fee dYdX: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$31.25
Costs to cover: 0.685%
Break-even: 13.0 days

Slippage from dYdX: live order book, 8 min ago; Paradex: live order book, 8 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, 8 min ago	25.82 bp	30.8 bp −$31	42.9 bp −$429	115.1 bp −$11.5K	966.9 bp −$483.5K
Sell Paradex live order book, 8 min ago	1.44 bp	3.4 bp −$3	7.7 bp −$77	doesn't fit	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	−0.1104%	1h	93.469	+0.043%	$198K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0625%	1h	93.297	−0.141%	$1.2M	$3.9M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0180%	1h	93.772	+0.367%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0107%	1h	93.380	−0.052%	$705K	$961K	10x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	93.407	−0.023%	$85K	$359K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.439	+0.011%	$3K	$331	25x	as long as short
dYdX HYPE-USDlong	−0.0075%	1h	93.429	long leg	$128K	$31K	5x
Gate HYPE_USDT	−0.0072%	4h	93.403	−0.028%	$44.2M	$60.7M	75x	as long as short
Bullet HYPE-USD	−0.0042%	1h	93.405	−0.025%	$112K	$579K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0041%	4h	93.363	−0.070%	$158K	$647K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	−0.0015%	4h	93.429	0.000%	$8.9M	$36.1M	300x	as long as short
Perpl HYPE	0.0000%	43m	93.436	+0.008%	$23K	$327K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.436	+0.007%	$27K	—	150x	as long as short
Bybit HYPEUSDT	+0.0015%	8h	93.390	−0.042%	$320.9M	$279.7M	75x	as long as short
Derive HYPE-PERP	+0.0024%	1h	93.343	−0.091%	$16.3M	$7.5M	10x	as long as short
Phoenix HYPE	+0.0034%	1h	93.887	+0.490%	$213K	$1.2M	10x	as long as short
Phemex HYPEUSDT	+0.0035%	8h	93.403	−0.028%	$12.7M	$2.6M	50x	as long as short
Binance HYPEUSDT	+0.0042%	4h	93.405	−0.025%	$380.7M	$898.6M	75x	as long as short
MEXC HYPE_USDT	+0.0044%	4h	93.409	−0.021%	$87.4M	$83.7M	100x	as long as short
edgeX HYPEUSDC	+0.0060%	4h	93.655	+0.242%	$5.1M	$29.7M	30x	as long as short
Bluefin HYPE-PERP	+0.0063%	1h	93.370	−0.063%	$76K	$170K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0071%	8h	93.403	−0.028%	$115.5M	$313.5M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.461	+0.034%	$18.8M	$60.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.417	−0.013%	$3.0M	$12.2M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.409	−0.021%	$64K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.376	−0.056%	$397K	$180K	20x	as long as short
Paradex HYPE-USD-PERPshort	+0.0099%	8h	93.449	+0.022%	$339K	$165K	20x
Katana Perps HYPE-USD	+0.0100%	8h	93.390	−0.042%	$34K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.456	+0.029%	$6.6M	$44.6M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.477	+0.052%	$2.04B	$670.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.437	+0.009%	$10.0M	$14.7M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.415	−0.015%	$46.3M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.441	+0.013%	$226.2M	$100.3M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.403	−0.028%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.302	−0.136%	$7.9M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.379	−0.054%	$30.9M	$53.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.861	+0.462%	$7.6M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.599	+0.182%	$339K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.537	+0.116%	$668K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.482	+0.057%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.440	+0.012%	$472K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.445	+0.017%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.384	−0.048%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.894	+0.498%	$204K	$10K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.372	−0.061%	$18.3M	$44.8M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.420	−0.009%	$4.9M	$5.5M	50x	as long as short
BloFin HYPE-USDT	+0.0182%	4h	93.420	−0.009%	$17.0M	$12.0M	75x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	93.370	−0.063%	$30K	$338K	12x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	93.454	+0.026%	$2.7M	$6.7M	20x	as long as short
Kalshi KXHYPEPERP	+0.0248%	8h	93.507	+0.084%	$1.9M	$5.2M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0253%	1h	93.402	−0.029%	$79K	$143K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0156%	1h	93.430	+0.001%	$1.4M	—	100x	as long as short
HTX HYPE-USDT	+0.0352%	4h	93.550	+0.130%	$1.5M	$6.0M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0585%	1h	93.493	+0.069%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0676%	1h	93.440	+0.012%	$20.8M	$29.8M	50x	as long as short