Settings8H · net · $10k
Funding arb · Price arb /

HYPE

all HYPE markets
SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 07:00 UTC+0.0063%/8h= +6.9% APRpaid last 24h +0.004%
Price spread now: Orderly against Hotstuff−0.242%47s7-day average · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)no history yet
Price spread, last 7 daysno price history on both exchanges yet
Together, before fees+ Points / potential airdropHotstuff: Active · farm boardneeds both histories
Funding pays, the price is against you. Orderly is 0.242% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.242% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$24 on $10k: about 13 days of funding at the current rate (+$2 a day). The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongHotstuff HYPE-PERP93.992−0.0080get 0.0010% / 1h55m 32s$3K$33125x
ShortOrderly PERP_HYPE_USDC93.765−0.0017pay 0.0008% / 4h1h 55m$149K$680K20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Orderly against Hotstuff. 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

Funding earned
$13.25
Price spread: −0.242% → 0.000%
−$24.15
Slippage, 4 orders
no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders
−$5
Fee Orderly: 3 bp × 2 orders
−$6
Net
−$21.9
Costs to cover
0.110%
Break-even
18.6 days
Slippage unknown: Hotstuff: no order-book sample; 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
LegHalf-spread$10k$100k$1M$5M
Buy Hotstuff no order-book sample
Sell Orderly no order-book sample
Hotstuff and 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 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-P−0.1224%1h93.798−0.206%$199K$243K7xas long as short
Aftermath Perps HYPEUSD−0.0272%1h94.032+0.042%$22K$21K10xas long as short
Hotstuff HYPE-PERPlong−0.0080%1h93.992long leg$3K$33125x
01 Exchange HYPEUSD−0.0072%1h93.770−0.236%$86K$372K20xas long as short
Ondo Perps HYPE-USD.P−0.0044%1h93.730−0.279%$707K$1.2M10xas long as short
Orderly PERP_HYPE_USDCshort−0.0017%4h93.765−0.242%$149K$680K20x
dYdX HYPE-USD0.0000%1h93.813−0.191%$129K$29K5xas long as short
Perpl HYPE0.0000%43m93.831−0.171%$22K$285K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0002%1h93.823−0.180%$63K150xas long as short
Bluefin HYPE-PERP+0.0003%1h93.785−0.220%$79K$166K20xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX HYPE-USDT+0.0012%4h93.781−0.224%$53.8Mas long as short
Bybit HYPEUSDT+0.0016%8h93.745−0.263%$316.8M$287.3M75xas long as short
Phoenix HYPE+0.0026%1h93.872−0.128%$209K$1.1M10xas long as short
Bitget HYPEUSDT+0.0040%4h93.798−0.206%$226.0M$99.4M75xas long as short
Phemex HYPEUSDT+0.0060%8h93.818−0.185%$12.8M$2.8M50xas long as short
edgeX HYPEUSDC+0.0080%4h93.922−0.074%$5.0M$30.4M30xas long as short
Arcus HYPE-USD+0.0084%1h93.759−0.248%$1.0M$4.0M10xas long as short
ApeX Omni HYPEUSDT+0.0089%1h93.802−0.202%$348K$1.0M50xas long as short
Paradex HYPE-USD-PERP+0.0090%8h93.827−0.175%$341K$158K20xas long as short
Lighter HYPE+0.0096%1h93.785−0.220%$16.2M$63.2M20xas long as short
Lighter RH HYPE+0.0096%1h93.794−0.211%$3.1M$11.1M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.750−0.257%$78K$1.2M50xas long as short
Katana Perps HYPE-USD+0.0100%8h93.750−0.257%$20K$1.7M10xas long as short
Nado HYPE-PERP+0.0100%1h93.794−0.210%$6.3M$50.3M10xas long as short
Hyperliquid HYPE+0.0100%1h93.884−0.115%$2.05B$683.0M10xas long as short
Aster HYPEUSDT+0.0100%4h93.761−0.245%$8.9M$37.3M300xas long as short
Pacifica HYPE+0.0100%1h93.818−0.185%$10.1M$15.4M20xas long as short
Binance HYPEUSDT+0.0100%4h93.763−0.243%$376.0M$929.1M75xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.775−0.231%$115.8M$316.6M50xas long as short
Bulk HYPE-USD+0.0100%1h94.213+0.236%$217K$15K10xas long as short
Gate HYPE_USDT+0.0100%4h93.770−0.236%$48.3M$54.8M75xas long as short
MEXC HYPE_USDT+0.0100%4h93.779−0.227%$89.0M$83.0M100xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.795−0.210%$46.3M$18.9M75xas long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.817−0.186%$7.2M$10.8M20xas long as short
Variational Omni HYPE+0.0100%8h93.759−0.248%$28.7M$56.1Mas long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.839−0.163%$7.7M$47.9M10xas long as short
StandX HYPE-USD+0.0100%1h93.875−0.124%$680K$2.8M20xas long as short
Vest HYPE-PERP+0.0100%1h93.871−0.129%$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.818−0.185%$476K$2.8M20xas long as short
Bullet HYPE-USD+0.0100%1h93.804−0.200%$112K$581K20xas long as short
Derive HYPE-PERP+0.0100%1h93.774−0.232%$16.4M$7.5M10xas long as short
SunX HYPE-USDT+0.0100%4h93.893−0.105%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.779−0.227%$2.0M$1.9M10xas long as short
HTX HYPE-USDT+0.0100%4h93.965−0.029%$1.4M$6.6M75xas long as short
Extended HYPE-USD+0.0104%1h93.739−0.269%$18.3M$43.3M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.797−0.208%$396K$159K20xas long as short
Kalshi KXHYPEPERP+0.0110%8h93.901−0.097%$1.8M$5.6M2.3xas long as short
Coinbase International HYPE-PERP-INTX+0.0120%1h93.870−0.130%$4.7M$6.1M50xas long as short
Injective HYPE/USDC PERP+0.0205%1h93.760−0.247%$30K$339K12xas long as short
Reya HYPERUSDPERP+0.0270%1h93.794−0.211%$77K$130K15xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0315%1h93.888−0.111%$7.4M$4.2M50xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0333% / S −0.0154%1h93.819−0.184%$1.4M100xas long as short
BloFin HYPE-USDT+0.0340%4h93.808−0.196%$17.1M$12.2M75xas long as short
Kraken Futures PF_HYPEUSD+0.0414%1h93.865−0.135%$20.9M$29.6M50xas long as short
RISEx HYPE/USDC+0.0559%1h93.798−0.206%$3.2M$6.4M20xas long as short