Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0136%/8h= −14.9% APRpaid last 24h −0.013%

Price spread now: OKX against Extended+0.036%7-day average +0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$170.172% of the position

Long on Extended Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.071%−$7 on $10k

Price spread, last 7 days−0.034%−$3 · spread now +0.036%, 7d avg +0.017%

Together, before fees−0.105%+ Points / potential airdropExtended: Active · farm board−$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.017%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended HYPE-USD	95.215	0.0104	pay 0.0013% / 1h	6m 16s	$18.3M	$38.6M	50x
Short	OKX HYPE-USDT-SWAP	95.249	−0.0032	pay 0.0032% / 8h	5h 06m	$119.4M	$304.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.036%Rate

Funding earned: −$28.63
Price spread: +0.036% → +0.017%: $1.9
Slippage, 4 orders: −$2.23
Fee Extended: 2.5 bp × 2 orders: −$5
Fee OKX: 5 bp × 2 orders: −$10
Net: −$43.97
Costs to cover: 0.172%
Break-even: never at this rate

Slippage from Extended: live order book, 6 min ago; OKX: live order book, 6 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, 6 min ago	0.05 bp	2.6 bp −$3	4.4 bp −$44	25.4 bp −$2,541	doesn't fit
Sell OKX live order book, 6 min ago	0.05 bp	6.5 bp −$7	9.1 bp −$91	16.1 bp −$1,614	doesn't fit

HYPE on 55 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
Phemex HYPEUSDT	−0.0292%	8h	95.248	+0.035%	$13.0M	$2.3M	50x	as long as short
Kraken Futures PF_HYPEUSD	−0.0251%	1h	95.271	+0.059%	$18.5M	$34.6M	50x	as long as short
Arcus HYPE-USD	−0.0130%	1h	95.299	+0.089%	$1.1M	$2.7M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0114%	1h	95.170	−0.047%	$22K	$17K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0107%	1h	95.220	+0.006%	$678K	$1.3M	10x	as long as short
Aster HYPEUSDT	−0.0082%	4h	95.246	+0.033%	$9.1M	$34.3M	300x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	95.321	+0.112%	$101K	$349K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	95.055	−0.168%	$3K	$421	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0065%	4h	95.231	+0.017%	$148K	$642K	20x	as long as short
Gate HYPE_USDT	−0.0064%	4h	95.262	+0.050%	$55.8M	$54.1M	75x	as long as short

Show all 55 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bluefin HYPE-PERP	−0.0059%	1h	95.238	+0.025%	$79K	$132K	20x	as long as short
Coinbase International HYPE-PERP-INTX	−0.0056%	1h	95.280	+0.069%	$4.8M	$5.5M	50x	as long as short
Bullet HYPE-USD	−0.0049%	1h	95.269	+0.057%	$113K	$583K	20x	as long as short
OKX HYPE-USDT-SWAPshort	−0.0032%	8h	95.249	+0.036%	$119.4M	$304.1M	50x
Bitget HYPEUSDT	−0.0024%	4h	95.254	+0.041%	$230.7M	$86.3M	75x	as long as short
Phoenix HYPE	−0.0008%	1h	95.181	−0.035%	$198K	$1.1M	10x	as long as short
Perpl HYPE	0.0000%	43m	95.077	−0.144%	$24K	$251K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	95.295	+0.084%	$100K	—	150x	as long as short
Derive HYPE-PERP	+0.0014%	1h	95.000	−0.226%	$16.4M	$7.0M	10x	as long as short
Lighter HYPE	+0.0016%	1h	95.254	+0.042%	$16.7M	$59.0M	20x	as long as short
Bybit HYPEUSDT	+0.0034%	8h	95.270	+0.058%	$321.6M	$263.1M	75x	as long as short
edgeX HYPEUSDC	+0.0035%	4h	94.993	−0.233%	$5.0M	$28.0M	30x	as long as short
MEXC HYPE_USDT	+0.0044%	4h	95.271	+0.059%	$90.6M	$84.9M	100x	as long as short
Binance HYPEUSDT	+0.0046%	4h	95.315	+0.106%	$383.6M	$850.6M	75x	as long as short
BingX HYPE-USDT	+0.0052%	4h	95.256	+0.044%	—	$49.1M	—	as long as short
Popdex HYPEUSDT	+0.0056%	1h	95.300	+0.090%	$275K	$999K	50x	as long as short
dYdX HYPE-USD	+0.0064%	1h	95.285	+0.074%	$128K	$96K	5x	as long as short
ApeX Omni HYPEUSDT	+0.0089%	1h	95.028	−0.196%	$323K	$926K	50x	as long as short
Paradex HYPE-USD-PERP	+0.0090%	8h	95.255	+0.043%	$340K	$30K	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	95.275	+0.064%	$3.2M	$10.4M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	95.246	+0.033%	$403K	$125K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	95.240	+0.027%	$40K	$1.5M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	95.283	+0.072%	$7.3M	$50.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	95.284	+0.073%	$10.3M	$13.0M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	95.233	+0.019%	$229K	$20K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	95.264	+0.052%	$47.7M	$17.7M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	95.242	+0.029%	$6.9M	$12.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.971	−0.256%	$29.7M	$52.8M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	95.044	−0.179%	$7.7M	$40.7M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	95.077	−0.144%	$691K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	95.291	+0.080%	—	$80K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	95.289	+0.078%	$504K	$2.4M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	95.338	+0.130%	$33K	$1.4M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	95.256	+0.044%	$2.1M	$335K	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.394	+0.188%	$1.4M	$5.3M	75x	as long as short
Extended HYPE-USDlong	+0.0104%	1h	95.215	long leg	$18.3M	$38.6M	50x
Kalshi KXHYPEPERP	+0.0121%	8h	95.278	+0.067%	$1.8M	$5.1M	2.3x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	95.312	+0.103%	$3.1M	$5.2M	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0138%	1h	95.341	+0.133%	$7.5M	$4.2M	50x	as long as short
Hyperliquid HYPE	+0.0154%	1h	95.372	+0.165%	$2.11B	$643.9M	10x	as long as short
BloFin HYPE-USDT	+0.0181%	4h	95.018	−0.206%	$17.4M	$11.6M	75x	as long as short
Reya HYPERUSDPERP	+0.0268%	1h	95.226	+0.012%	$85K	$90K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0155%	1h	95.292	+0.081%	$1.4M	—	100x	as long as short
Hibachi HYPE/USDT-P	+0.0768%	1h	95.140	−0.079%	$216K	$278K	7x	as long as short
Injective HYPE/USDC PERP	+0.0969%	1h	95.600	+0.405%	$31K	$334K	12x	as long as short