Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0021%/8h= +2.3% APRpaid last 24h +0.051%

Price spread now: Hyperliquid against edgeX+0.066%7-day average +0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$210.208% of the position

Long on edgeX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.066%+$7 on $10k

Price spread, last 7 days−0.062%−$6 · spread now +0.066%, 7d avg +0.043%

Together, before fees+0.004%+ Points / potential airdropedgeX: Active · Hyperliquid: Season 2 · farm board$0 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Hyperliquid is 0.024% dearer against edgeX than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.043%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX HYPEUSDC	93.907	0.0079	pay 0.0040% / 4h	2h 25m	$5.1M	$29.9M	30x
Short	Hyperliquid HYPE	93.969	0.0100	get 0.0013% / 1h	25m 24s	$2.05B	$672.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against edgeX. 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 edgeXbpFee HyperliquidbpOrdersPrice spread, now +0.066%Rate

Funding earned: $4.35
Price spread: +0.066% → +0.043%: $2.39
Slippage, 4 orders: −$2.82
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$14.08
Costs to cover: 0.208%
Break-even: 29.7 days

Slippage from edgeX: live order book, 4 min ago; Hyperliquid: live order book, 9 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 edgeX live order book, 4 min ago	0.32 bp	4.8 bp −$5	5.0 bp −$50	136.3 bp −$13.6K	doesn't fit
Sell Hyperliquid live order book, 9 min ago	0.05 bp	6.6 bp −$7	doesn't fit	doesn't fit	doesn't fit

HYPE on 54 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	−0.0968%	1h	93.788	−0.126%	$197K	$229K	7x	as long as short
Arcus HYPE-USD	−0.0786%	1h	93.740	−0.177%	$1.2M	$3.8M	10x	as long as short
Phemex HYPEUSDT	−0.0142%	8h	93.889	−0.019%	$12.7M	$2.7M	50x	as long as short
Aftermath Perps HYPEUSD	−0.0135%	1h	93.774	−0.141%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.874	−0.035%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0077%	1h	93.860	−0.050%	$703K	$929K	10x	as long as short
Orderly PERP_HYPE_USDC	−0.0057%	4h	93.919	+0.013%	$157K	$646K	20x	as long as short
01 Exchange HYPEUSD	−0.0048%	1h	93.884	−0.024%	$85K	$350K	20x	as long as short
Backpack HYPE_USDC_PERP	−0.0042%	1h	93.896	−0.011%	$7.8M	$10.3M	20x	as long as short
Gate HYPE_USDT	−0.0028%	4h	93.865	−0.044%	$44.4M	$55.0M	75x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX HYPE-USDT	−0.0002%	4h	93.865	−0.044%	—	$53.7M	—	as long as short
Aster HYPEUSDT	−0.0001%	4h	93.884	−0.024%	$8.9M	$35.9M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.860	−0.050%	$129K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.907	0.000%	$22K	$326K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.969	+0.066%	$26K	—	150x	as long as short
Bybit HYPEUSDT	+0.0005%	8h	93.850	−0.060%	$322.3M	$281.2M	75x	as long as short
Phoenix HYPE	+0.0060%	1h	93.904	−0.003%	$213K	$1.2M	10x	as long as short
MEXC HYPE_USDT	+0.0066%	4h	93.893	−0.015%	$87.9M	$82.9M	100x	as long as short
Binance HYPEUSDT	+0.0068%	4h	93.865	−0.044%	$382.1M	$892.9M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0069%	8h	93.880	−0.028%	$115.4M	$308.8M	50x	as long as short
Bullet HYPE-USD	+0.0074%	1h	93.914	+0.007%	$112K	$578K	20x	as long as short
edgeX HYPEUSDClong	+0.0079%	4h	93.907	long leg	$5.1M	$29.9M	30x
Paradex HYPE-USD-PERP	+0.0095%	8h	93.905	−0.002%	$341K	$164K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.856	−0.054%	$16.4M	$62.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.852	−0.058%	$3.1M	$11.9M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.866	−0.043%	$67K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.961	+0.058%	$400K	$177K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.923	+0.017%	$16.3M	$7.7M	10x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.860	−0.050%	$21K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.820	−0.092%	$5.7M	$45.1M	10x	as long as short
Hyperliquid HYPEshort	+0.0100%	1h	93.969	+0.066%	$2.05B	$672.8M	10x
Pacifica HYPE	+0.0100%	1h	93.889	−0.019%	$10.1M	$14.7M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.890	−0.018%	$46.5M	$18.1M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.900	−0.007%	$227.5M	$98.6M	75x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.910	+0.003%	$31.1M	$54.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.889	−0.019%	$7.6M	$47.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.834	−0.077%	$339K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.920	+0.014%	$670K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.922	+0.016%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.921	+0.015%	$474K	$2.4M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.920	+0.014%	$80K	$172K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.020	+0.121%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.936	+0.031%	$2.0M	$1.9M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.880	−0.028%	$204K	$10K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.836	−0.075%	$18.3M	$44.3M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0136%	1h	93.920	+0.014%	$4.9M	$5.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0137%	1h	93.920	+0.014%	$31K	$339K	12x	as long as short
RISEx HYPE/USDC	+0.0210%	1h	93.936	+0.031%	$3.2M	$7.0M	20x	as long as short
HTX HYPE-USDT	+0.0218%	4h	94.100	+0.206%	$1.4M	$5.9M	75x	as long as short
Reya HYPERUSDPERP	+0.0255%	1h	93.886	−0.022%	$80K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0273%	8h	94.001	+0.101%	$1.9M	$4.9M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0156%	1h	93.969	+0.067%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0442%	1h	94.042	+0.144%	$7.5M	$4.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0678%	1h	94.030	+0.131%	$21.0M	$29.8M	50x	as long as short