Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0154%/8h= +16.9% APRpaid last 24h +0.039%

Price spread now: RISEx against edgeX−0.174%115s7-day average +0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$200.197% of the position

Long on edgeX Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.111%+$11 on $10k

Price spread, last 7 days+0.215%+$21 · spread now −0.174%, 7d avg +0.031%

Together, before fees+0.326%+ Points / potential airdropedgeX: Active · farm board+$33 on $10k · with fees, hour by hour

Funding pays, the price is against you. RISEx is 0.205% cheaper against edgeX than usual: you would sell low and buy high (spread −0.174% now, against its 7-day average of +0.031%). If the spread goes back, that is −$20 on $10k: about 4.4 days of funding at the current rate (+$5 a day). The two prices were read 115 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	93.325	0.0056	pay 0.0028% / 4h	2h 39m	$5.1M	$29.8M	30x
Short	RISEx HYPE/USDC	93.162	0.0210	get 0.0026% / 1h	39m 39s	$2.7M	$6.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now −0.174%Rate

Funding earned: $32.33
Price spread: −0.174% → +0.031%: −$20.48
Slippage, 4 orders: −$4.71
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$7.85
Costs to cover: 0.197%
Break-even: 8.7 days

Slippage from edgeX: live order book, 4 min ago; RISEx: live order book, 4 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	5.5 bp −$55	doesn't fit	doesn't fit
Sell RISEx live order book, 4 min ago	2.03 bp	5.0 bp −$5	6.7 bp −$67	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	−0.0952%	1h	93.181	−0.154%	$196K	$229K	7x	as long as short
Arcus HYPE-USD	−0.0786%	1h	92.992	−0.356%	$1.2M	$3.9M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0153%	1h	93.266	−0.062%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0152%	1h	93.080	−0.262%	$696K	$981K	10x	as long as short
Gate HYPE_USDT	−0.0100%	4h	93.104	−0.236%	$44.1M	$54.2M	75x	as long as short
Backpack HYPE_USDC_PERP	−0.0097%	1h	93.053	−0.291%	$7.8M	$10.4M	20x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	92.967	−0.383%	$84K	$359K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.062	−0.281%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0057%	4h	93.004	−0.344%	$155K	$652K	20x	as long as short
Aster HYPEUSDT	−0.0042%	4h	93.094	−0.247%	$8.8M	$36.3M	300x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bluefin HYPE-PERP	−0.0036%	1h	92.997	−0.351%	$79K	$174K	20x	as long as short
Phemex HYPEUSDT	−0.0005%	8h	93.065	−0.278%	$12.6M	$2.7M	50x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.089	−0.253%	$128K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.004	−0.343%	$22K	$333K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.001	−0.347%	$25K	—	150x	as long as short
Bybit HYPEUSDT	+0.0005%	8h	93.120	−0.219%	$320.0M	$285.8M	75x	as long as short
BingX HYPE-USDT	+0.0006%	4h	93.126	−0.213%	—	$54.3M	—	as long as short
Bullet HYPE-USD	+0.0025%	1h	92.961	−0.390%	$111K	$579K	20x	as long as short
MEXC HYPE_USDT	+0.0040%	4h	93.135	−0.203%	$87.5M	$82.5M	100x	as long as short
Binance HYPEUSDT	+0.0040%	4h	93.139	−0.199%	$379.0M	$906.7M	75x	as long as short
edgeX HYPEUSDClong	+0.0056%	4h	93.325	long leg	$5.1M	$29.8M	30x
Phoenix HYPE	+0.0060%	1h	93.266	−0.063%	$212K	$1.2M	10x	as long as short
OKX HYPE-USDT-SWAP	+0.0067%	8h	93.139	−0.199%	$114.7M	$314.8M	50x	as long as short
Derive HYPE-PERP	+0.0067%	1h	92.992	−0.356%	$16.1M	$7.6M	10x	as long as short
Aevo HYPE-PERP	+0.0088%	1h	93.036	−0.310%	$396K	$177K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	93.239	−0.092%	$339K	$165K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.129	−0.209%	$16.3M	$62.3M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.126	−0.213%	$3.1M	$11.9M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.965	−0.385%	$65K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.000	−0.348%	$35K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.968	−0.383%	$5.6M	$45.3M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.191	−0.143%	$2.03B	$668.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.157	−0.179%	$10.0M	$14.8M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.404	+0.084%	$203K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.132	−0.206%	$45.9M	$18.4M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.137	−0.201%	$225.3M	$100.8M	75x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.151	−0.187%	$30.9M	$55.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.215	−0.118%	$7.5M	$47.7M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.355	+0.032%	$337K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.219	−0.113%	$665K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.057	−0.287%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.990	−0.359%	$465K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.184	−0.151%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.076	−0.266%	$2.0M	$2.0M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.062	−0.282%	$18.3M	$44.4M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0136%	1h	93.180	−0.155%	$4.9M	$5.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0137%	1h	93.110	−0.230%	$30K	$338K	12x	as long as short
BloFin HYPE-USDT	+0.0175%	4h	93.407	+0.088%	$17.0M	$12.1M	75x	as long as short
RISEx HYPE/USDCshort	+0.0210%	1h	93.162	−0.174%	$2.7M	$6.7M	20x
HTX HYPE-USDT	+0.0238%	4h	93.300	−0.026%	$1.4M	$6.1M	75x	as long as short
Reya HYPERUSDPERP	+0.0254%	1h	92.935	−0.417%	$79K	$142K	15x	as long as short
Kalshi KXHYPEPERP	+0.0260%	8h	93.177	−0.158%	$1.9M	$5.2M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0334% / S −0.0158%	1h	92.989	−0.360%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0556%	1h	93.181	−0.154%	$7.4M	$4.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0684%	1h	93.198	−0.136%	$20.8M	$30.1M	50x	as long as short