Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0091%/8h= +9.9% APRpaid last 24h +0.038%

Price spread now: HTX against Extended+0.180%7-day average +0.085% · you sell dearer than you buy

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$290.288% of the position

Long on Extended Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.025%+$2 on $10k

Price spread, last 3 days (all we have)−0.194%−$19 · spread now +0.180%, 7d avg +0.085%

Together, before fees−0.169%+ Points / potential airdropExtended: Active · farm board−$17 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and HTX is 0.095% dearer against Extended than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.085%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended HYPE-USD	93.693	0.0104	pay 0.0013% / 1h	17m 06s	$18.3M	$44.0M	50x
Short	HTX HYPE-USDT	93.862	0.0195	get 0.0097% / 4h	2h 17m	$1.4M	$5.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Extended. 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 ExtendedbpFee HTXbpOrdersPrice spread, now +0.180%Rate

Funding earned: $19.08
Price spread: +0.180% → +0.085%: $9.52
Slippage, 4 orders: −$11.84
Fee Extended: 2.5 bp × 2 orders: −$5
Fee HTX: 6 bp × 2 orders: −$12
Net: −$0.25
Costs to cover: 0.288%
Break-even: 7.1 days

Slippage from Extended: live order book, 2 min ago; HTX: live order book, 2 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 Extended live order book, 2 min ago	0.05 bp	2.6 bp −$3	5.5 bp −$55	23.8 bp −$2,383	doesn't fit
Sell HTX live order book, 2 min ago	1.22 bp	11.6 bp −$12	15.1 bp −$151	53.3 bp −$5,326	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	−0.1040%	1h	93.615	−0.083%	$197K	$229K	7x	as long as short
Arcus HYPE-USD	−0.0786%	1h	93.537	−0.166%	$1.2M	$3.8M	10x	as long as short
Phemex HYPEUSDT	−0.0106%	8h	93.687	−0.006%	$12.7M	$2.7M	50x	as long as short
Aftermath Perps HYPEUSD	−0.0084%	1h	93.779	+0.092%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.666	−0.029%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0066%	1h	93.710	+0.018%	$702K	$922K	10x	as long as short
Orderly PERP_HYPE_USDC	−0.0056%	4h	93.688	−0.005%	$156K	$646K	20x	as long as short
01 Exchange HYPEUSD	−0.0048%	1h	93.654	−0.042%	$85K	$349K	20x	as long as short
Backpack HYPE_USDC_PERP	−0.0031%	1h	93.664	−0.031%	$7.8M	$10.3M	20x	as long as short
Gate HYPE_USDT	−0.0010%	4h	93.705	+0.013%	$44.4M	$55.2M	75x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	−0.0004%	4h	93.716	+0.025%	$8.8M	$35.8M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.671	−0.024%	$128K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.707	+0.015%	$22K	$325K	10x	as long as short
BingX HYPE-USDT	+0.0002%	4h	93.718	+0.027%	—	$53.6M	—	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.726	+0.035%	$26K	—	150x	as long as short
Bybit HYPEUSDT	+0.0013%	8h	93.702	+0.010%	$321.6M	$280.6M	75x	as long as short
Phoenix HYPE	+0.0060%	1h	93.766	+0.078%	$213K	$1.2M	10x	as long as short
MEXC HYPE_USDT	+0.0066%	4h	93.711	+0.019%	$88.9M	$83.3M	100x	as long as short
Binance HYPEUSDT	+0.0068%	4h	93.712	+0.020%	$381.0M	$889.1M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0071%	8h	93.705	+0.013%	$115.2M	$307.5M	50x	as long as short
Bullet HYPE-USD	+0.0073%	1h	93.711	+0.019%	$111K	$577K	20x	as long as short
edgeX HYPEUSDC	+0.0085%	4h	93.690	−0.003%	$5.1M	$30.0M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0096%	8h	93.720	+0.029%	$340K	$164K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.747	+0.058%	$16.4M	$62.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.737	+0.047%	$3.1M	$11.9M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.662	−0.033%	$67K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.713	+0.021%	$399K	$175K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.660	−0.035%	$21K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.638	−0.058%	$5.7M	$44.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.826	+0.142%	$2.05B	$666.0M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.703	+0.010%	$10.1M	$14.7M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.731	+0.041%	$46.4M	$18.0M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.719	+0.028%	$227.0M	$98.3M	75x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.748	+0.058%	$31.1M	$54.6M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.737	+0.047%	$7.6M	$47.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.706	+0.014%	$339K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.758	+0.069%	$669K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.723	+0.032%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.730	+0.040%	$473K	$2.4M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.682	−0.012%	$79K	$170K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.688	−0.005%	$16.3M	$7.7M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.728	+0.037%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.718	+0.027%	$2.0M	$1.9M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.880	+0.200%	$204K	$10K	10x	as long as short
Extended HYPE-USDlong	+0.0104%	1h	93.693	long leg	$18.3M	$44.0M	50x
Coinbase International HYPE-PERP-INTX	+0.0136%	1h	93.730	+0.040%	$4.9M	$5.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0137%	1h	93.610	−0.088%	$30K	$339K	12x	as long as short
HTX HYPE-USDTshort	+0.0195%	4h	93.862	+0.180%	$1.4M	$5.9M	75x
RISEx HYPE/USDC	+0.0210%	1h	93.734	+0.044%	$3.2M	$7.0M	20x	as long as short
Reya HYPERUSDPERP	+0.0255%	1h	93.658	−0.038%	$80K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0280%	8h	93.777	+0.090%	$1.9M	$4.9M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0156%	1h	93.730	+0.040%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0401%	1h	93.812	+0.127%	$7.4M	$4.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0680%	1h	93.821	+0.137%	$21.0M	$29.8M	50x	as long as short