Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0001%/8h= −0.1% APRpaid last 24h −0.017%

Price spread now: OKX against edgeX−0.165%71s7-day average +0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$220.222% of the position

Long on edgeX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.067%−$7 on $10k

Price spread, last 7 days+0.195%+$19 · spread now −0.165%, 7d avg +0.020%

Together, before fees+0.127%+ Points / potential airdropedgeX: Active · farm board+$13 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: OKX is 0.185% cheaper against edgeX than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of +0.020%. The two prices were read 71 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX HYPEUSDC	94.322	0.0080	pay 0.0040% / 4h	36m 26s	$5.0M	$30.7M	30x
Short	OKX HYPE-USDT-SWAP	94.166	0.0079	get 0.0079% / 8h	36m 26s	$117.4M	$324.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.165%Rate

Funding earned: −$0.24
Price spread: −0.165% → +0.020%: −$18.47
Slippage, 4 orders: −$3.18
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee OKX: 5 bp × 2 orders: −$10
Net: −$40.89
Costs to cover: 0.222%
Break-even: never at this rate

Slippage from edgeX: live order book, 3 min ago; OKX: 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 edgeX live order book, 3 min ago	0.32 bp	4.8 bp −$5	5.3 bp −$53	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	0.05 bp	5.6 bp −$6	7.8 bp −$78	18.0 bp −$1,796	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	−0.1592%	1h	94.119	−0.214%	$201K	$251K	7x	as long as short
Bluefin HYPE-PERP	−0.0389%	1h	94.150	−0.182%	$80K	$154K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0214%	1h	94.100	−0.235%	$710K	$1.2M	10x	as long as short
Bullet HYPE-USD	−0.0205%	1h	94.170	−0.161%	$111K	$576K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0133%	1h	94.372	+0.053%	$22K	$20K	10x	as long as short
01 Exchange HYPEUSD	−0.0120%	1h	94.137	−0.196%	$86K	$367K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.164	−0.167%	$3K	$331	25x	as long as short
Arcus HYPE-USD	−0.0045%	1h	94.098	−0.237%	$1.0M	$3.6M	10x	as long as short
Derive HYPE-PERP	−0.0040%	1h	94.176	−0.154%	$16.5M	$7.5M	10x	as long as short
Bybit HYPEUSDT	−0.0016%	8h	94.160	−0.171%	$316.6M	$289.7M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX HYPE-USDT	−0.0016%	4h	94.175	−0.155%	—	$53.1M	—	as long as short
Orderly PERP_HYPE_USDC	−0.0002%	4h	94.159	−0.172%	$146K	$684K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.232	−0.095%	$129K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.249	−0.077%	$1.9M	$5.6M	2.3x	as long as short
Phoenix HYPE	0.0000%	1h	94.440	+0.126%	$209K	$1.1M	10x	as long as short
Perpl HYPE	0.0000%	43m	94.183	−0.146%	$19K	$288K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.195	−0.135%	$122K	—	150x	as long as short
Lighter HYPE	+0.0016%	1h	94.135	−0.197%	$16.3M	$64.2M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0036%	1h	94.166	−0.165%	$494K	$2.8M	20x	as long as short
Bitget HYPEUSDT	+0.0038%	4h	94.129	−0.204%	$226.3M	$99.8M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0044%	8h	94.147	−0.185%	$336K	$156K	20x	as long as short
Phemex HYPEUSDT	+0.0050%	8h	94.185	−0.145%	$12.9M	$2.9M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0064%	1h	94.180	−0.150%	$4.7M	$6.2M	50x	as long as short
OKX HYPE-USDT-SWAPshort	+0.0079%	8h	94.166	−0.165%	$117.4M	$324.2M	50x
edgeX HYPEUSDClong	+0.0080%	4h	94.322	long leg	$5.0M	$30.7M	30x
SoDEX HYPE-USD	+0.0086%	1h	94.138	−0.195%	$2.0M	$1.9M	10x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.151	−0.181%	$3.2M	$10.8M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.106	−0.229%	$81K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.120	−0.214%	$30K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.136	−0.197%	$7.3M	$52.6M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.265	−0.060%	$2.07B	$688.3M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.178	−0.152%	$8.8M	$37.2M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.167	−0.164%	$10.1M	$15.3M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.170	−0.161%	$377.4M	$934.3M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.280	−0.044%	$218K	$12K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.170	−0.161%	$49.7M	$56.5M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.137	−0.196%	$89.6M	$83.1M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.159	−0.172%	$46.7M	$18.9M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.190	−0.139%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.327	+0.005%	$29.5M	$54.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.380	+0.062%	$7.6M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.340	+0.020%	$369K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.207	−0.121%	$681K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.214	−0.114%	—	$190K	5x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.188	−0.142%	$32K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.315	−0.007%	$1.4M	$6.8M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.143	−0.190%	$18.3M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.175	−0.155%	$398K	$159K	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0150% / S +0.0021%	1h	94.212	−0.117%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0185%	1h	94.130	−0.203%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0223%	1h	94.202	−0.127%	$20.2M	$30.3M	50x	as long as short
RISEx HYPE/USDC	+0.0249%	1h	94.133	−0.200%	$3.2M	$6.4M	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0260%	1h	94.240	−0.086%	$7.4M	$4.3M	50x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.130	−0.203%	$84K	$125K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.143	−0.189%	$17.0M	$12.3M	75x	as long as short