Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0028%/8h= +3.1% APRpaid last 24h −0.003%

Price spread now: Vest against edgeX−0.127%7-day average −0.001% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on edgeX Short on Vest

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.129%−$13 on $10k

Price spread, last 4 days (all we have)+0.223%+$22 · spread now −0.127%, 7d avg −0.001%

Together, before fees+0.095%+ Points / potential airdropedgeX: Active · Vest: Active · farm board+$9 on $10k · with fees, hour by hour

Funding pays, the price is against you. Vest is 0.126% cheaper against edgeX than usual: you would sell low and buy high (spread −0.127% now, against its 7-day average of −0.001%). If the spread goes back, that is −$13 on $10k: about 15 days of funding at the current rate (+$1 a day). Mind the row above: over the last 4 days funding on this pair cost −0.129%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX HYPEUSDC	95.113	0.0072	pay 0.0036% / 4h	1h 47m	$5.1M	$29.2M	30x
Short	Vest HYPE-PERP	94.992	0.0100	get 0.0013% / 1h	47m 30s	—	$80K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest against edgeX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 VestbpOrdersPrice spread, now −0.127%Rate

Funding earned: $5.91
Price spread: −0.127% → −0.001%: −$12.59
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Vest: 1 bp × 2 orders: −$2
Net: −$17.68
Costs to cover: 0.110%
Break-even: 27.9 days

Slippage unknown: edgeX: live order book, 5 min ago; Vest: no order-book sample. Net counts fees only.

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, 5 min ago	0.68 bp	5.2 bp −$5	5.3 bp −$53	114.1 bp −$11.4K	doesn't fit
Sell Vest no order-book sample	—	—	—	—	—

Vest: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

HYPE on 54 exchanges

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	94.937	−0.184%	$220K	$269K	7x	as long as short
Kraken Futures PF_HYPEUSD	−0.0252%	1h	94.957	−0.164%	$18.5M	$35.2M	50x	as long as short
Phemex HYPEUSDT	−0.0248%	8h	94.981	−0.138%	$12.9M	$2.5M	50x	as long as short
Ondo Perps HYPE-USD.P	−0.0194%	1h	94.910	−0.213%	$689K	$1.2M	10x	as long as short
Lighter HYPE	−0.0192%	1h	94.953	−0.168%	$16.3M	$57.6M	20x	as long as short
01 Exchange HYPEUSD	−0.0136%	1h	94.923	−0.199%	$99K	$342K	20x	as long as short
Arcus HYPE-USD	−0.0130%	1h	94.922	−0.200%	$1.1M	$2.4M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0118%	1h	95.116	+0.004%	$22K	$17K	10x	as long as short
Gate HYPE_USDT	−0.0098%	4h	94.926	−0.196%	$54.7M	$53.2M	75x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	95.191	+0.082%	$3K	$331	25x	as long as short

Show all 54 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni HYPEUSDT	−0.0068%	1h	95.141	+0.030%	$342K	$887K	50x	as long as short
Coinbase International HYPE-PERP-INTX	−0.0056%	1h	94.910	−0.213%	$4.7M	$5.5M	50x	as long as short
Aster HYPEUSDT	−0.0054%	4h	94.949	−0.172%	$8.9M	$32.7M	300x	as long as short
Popdex HYPEUSDT	−0.0048%	1h	94.924	−0.198%	$273K	$1.0M	50x	as long as short
Orderly PERP_HYPE_USDC	−0.0047%	4h	94.888	−0.236%	$147K	$643K	20x	as long as short
Bullet HYPE-USD	−0.0037%	1h	94.924	−0.198%	$113K	$581K	20x	as long as short
OKX HYPE-USDT-SWAP	−0.0015%	8h	94.920	−0.203%	$119.0M	$302.7M	50x	as long as short
SoDEX HYPE-USD	−0.0013%	1h	94.933	−0.189%	$2.1M	$340K	10x	as long as short
Phoenix HYPE	−0.0008%	1h	94.963	−0.157%	$199K	$1.1M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.991	−0.128%	$129K	$94K	5x	as long as short
Perpl HYPE	0.0000%	43m	94.949	−0.172%	$24K	$250K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	94.940	−0.182%	$99K	—	150x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0013%	1h	95.017	−0.101%	$7.5M	$4.3M	50x	as long as short
Bitget HYPEUSDT	+0.0014%	4h	94.939	−0.183%	$228.2M	$86.8M	75x	as long as short
Bybit HYPEUSDT	+0.0017%	8h	94.930	−0.192%	$319.6M	$264.8M	75x	as long as short
StandX HYPE-USD	+0.0067%	1h	95.057	−0.058%	$691K	$2.7M	20x	as long as short
Bluefin HYPE-PERP	+0.0067%	1h	94.911	−0.212%	$79K	$135K	20x	as long as short
Binance HYPEUSDT	+0.0069%	4h	94.954	−0.166%	$381.6M	$850.1M	75x	as long as short
edgeX HYPEUSDClong	+0.0072%	4h	95.113	long leg	$5.1M	$29.2M	30x
Bulk HYPE-USD	+0.0074%	1h	95.269	+0.164%	$232K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0076%	4h	94.917	−0.206%	$89.9M	$83.5M	100x	as long as short
Paradex HYPE-USD-PERP	+0.0077%	8h	94.959	−0.162%	$339K	$30K	20x	as long as short
BingX HYPE-USDT	+0.0092%	4h	94.924	−0.198%	—	$49.0M	—	as long as short
Lighter RH HYPE	+0.0096%	1h	94.967	−0.153%	$3.4M	$10.1M	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	94.890	−0.234%	$39K	$1.5M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.955	−0.166%	$7.3M	$51.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	95.055	−0.061%	$2.11B	$646.7M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.991	−0.128%	$10.2M	$13.2M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.925	−0.197%	$47.2M	$17.7M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.967	−0.153%	$7.3M	$10.8M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	95.111	−0.002%	$30.0M	$53.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.984	−0.135%	$7.7M	$38.7M	10x	as long as short
Vest HYPE-PERPshort	+0.0100%	1h	94.992	−0.127%	—	$80K	5x
Polymarket Perps HYPE-USD	+0.0100%	1h	94.957	−0.164%	$504K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	95.011	−0.107%	$32K	$1.4M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.995	−0.124%	$1.4M	$5.3M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.893	−0.230%	$18.4M	$39.8M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.901	−0.223%	$401K	$130K	20x	as long as short
Kalshi KXHYPEPERP	+0.0126%	8h	95.005	−0.113%	$1.8M	$5.1M	2.3x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	94.932	−0.190%	$3.2M	$5.5M	20x	as long as short
Reya HYPERUSDPERP	+0.0269%	1h	94.908	−0.216%	$85K	$92K	15x	as long as short
BloFin HYPE-USDT	+0.0322%	4h	94.950	−0.171%	$17.4M	$11.4M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0155%	1h	94.960	−0.161%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0969%	1h	95.500	+0.407%	$31K	$334K	12x	as long as short