Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0168%/8h= −18.4% APRpaid last 24h −0.051%

Price spread now: Orderly against Extended+0.037%7-day average +0.030% · you sell dearer than you buy

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

Long on Extended Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.184%−$18 on $10k

Price spread, last 4 days (all we have)−0.038%−$4 · spread now +0.037%, 7d avg +0.030%

Together, before fees−0.222%+ Points / potential airdropExtended: Active · farm board−$22 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.030%, so right now this pair is about funding alone: −$5 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	95.017	0.0104	pay 0.0013% / 1h	8m 03s	$18.3M	$38.6M	50x
Short	Orderly PERP_HYPE_USDC	95.052	−0.0064	pay 0.0032% / 4h	1h 08m	$148K	$642K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.037%Rate

Funding earned: −$35.38
Price spread: +0.037% → +0.030%: $0.69
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$45.68
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Extended: live order book, 4 min ago; Orderly: 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 Extended live order book, 4 min ago	0.05 bp	2.6 bp −$3	4.4 bp −$44	25.4 bp −$2,541	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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
Phemex HYPEUSDT	−0.0274%	8h	95.130	+0.119%	$13.0M	$2.3M	50x	as long as short
Kraken Futures PF_HYPEUSD	−0.0252%	1h	95.072	+0.058%	$18.4M	$34.9M	50x	as long as short
Arcus HYPE-USD	−0.0130%	1h	95.142	+0.131%	$1.1M	$2.7M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0126%	1h	95.172	+0.163%	$22K	$17K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0106%	1h	94.950	−0.071%	$680K	$1.3M	10x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	95.104	+0.091%	$100K	$349K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	95.054	+0.039%	$3K	$421	25x	as long as short
Aster HYPEUSDT	−0.0079%	4h	95.066	+0.051%	$9.7M	$34.3M	300x	as long as short
Orderly PERP_HYPE_USDCshort	−0.0064%	4h	95.052	+0.037%	$148K	$642K	20x
Gate HYPE_USDT	−0.0062%	4h	95.068	+0.054%	$55.6M	$54.0M	75x	as long as short

Show all 54 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bluefin HYPE-PERP	−0.0060%	1h	95.070	+0.056%	$79K	$132K	20x	as long as short
Bullet HYPE-USD	−0.0058%	1h	95.079	+0.066%	$113K	$583K	20x	as long as short
Coinbase International HYPE-PERP-INTX	−0.0056%	1h	95.110	+0.098%	$4.8M	$5.5M	50x	as long as short
OKX HYPE-USDT-SWAP	−0.0031%	8h	95.045	+0.029%	$119.1M	$303.2M	50x	as long as short
Bitget HYPEUSDT	−0.0024%	4h	95.087	+0.074%	$230.3M	$86.2M	75x	as long as short
Phoenix HYPE	−0.0008%	1h	95.181	+0.173%	$198K	$1.1M	10x	as long as short
Perpl HYPE	0.0000%	43m	95.022	+0.005%	$24K	$251K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	95.100	+0.087%	$99K	—	150x	as long as short
Lighter HYPE	+0.0016%	1h	95.060	+0.045%	$16.6M	$58.9M	20x	as long as short
Bybit HYPEUSDT	+0.0033%	8h	95.060	+0.045%	$320.8M	$262.9M	75x	as long as short
Binance HYPEUSDT	+0.0045%	4h	95.085	+0.072%	$382.7M	$848.7M	75x	as long as short
MEXC HYPE_USDT	+0.0046%	4h	95.067	+0.053%	$90.5M	$84.8M	100x	as long as short
edgeX HYPEUSDC	+0.0046%	4h	95.146	+0.135%	$5.1M	$27.9M	30x	as long as short
BingX HYPE-USDT	+0.0052%	4h	95.066	+0.051%	—	$49.1M	—	as long as short
Popdex HYPEUSDT	+0.0056%	1h	95.081	+0.067%	$274K	$999K	50x	as long as short
dYdX HYPE-USD	+0.0066%	1h	95.118	+0.106%	$128K	$96K	5x	as long as short
Paradex HYPE-USD-PERP	+0.0089%	8h	95.129	+0.118%	$339K	$30K	20x	as long as short
ApeX Omni HYPEUSDT	+0.0092%	1h	95.188	+0.180%	$324K	$926K	50x	as long as short
Lighter RH HYPE	+0.0096%	1h	95.087	+0.074%	$3.2M	$10.4M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	95.066	+0.052%	$402K	$125K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	95.100	+0.087%	$40K	$1.5M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	95.115	+0.103%	$7.3M	$50.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	95.142	+0.131%	$10.3M	$13.0M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	95.233	+0.227%	$229K	$20K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	95.063	+0.048%	$47.6M	$17.7M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	95.029	+0.013%	$6.9M	$12.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.971	−0.049%	$29.7M	$52.8M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	95.037	+0.021%	$7.7M	$40.4M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	95.079	+0.065%	$692K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	95.148	+0.137%	—	$80K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	95.120	+0.108%	$504K	$2.4M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	95.147	+0.137%	$32K	$1.4M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	95.058	+0.043%	$2.1M	$335K	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.184	+0.176%	$1.4M	$5.3M	75x	as long as short
Extended HYPE-USDlong	+0.0104%	1h	95.017	long leg	$18.3M	$38.6M	50x
Kalshi KXHYPEPERP	+0.0121%	8h	95.202	+0.195%	$1.8M	$5.0M	2.3x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	95.103	+0.090%	$3.1M	$5.2M	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0139%	1h	95.151	+0.141%	$7.5M	$4.2M	50x	as long as short
Hyperliquid HYPE	+0.0151%	1h	95.171	+0.162%	$2.11B	$643.8M	10x	as long as short
BloFin HYPE-USDT	+0.0194%	4h	95.035	+0.019%	$17.5M	$11.6M	75x	as long as short
Reya HYPERUSDPERP	+0.0268%	1h	95.028	+0.012%	$85K	$90K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0155%	1h	95.052	+0.037%	$1.4M	—	100x	as long as short
Hibachi HYPE/USDT-P	+0.0704%	1h	95.101	+0.089%	$216K	$278K	7x	as long as short
Injective HYPE/USDC PERP	+0.0969%	1h	95.600	+0.613%	$31K	$334K	12x	as long as short