Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.048%

Price spread now: Vest against HTX−0.114%7-day average −0.060% · you buy dearer than you sell

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

Long on HTX Short on Vest

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.165%−$17 on $10k

Price spread, last 4 days (all we have)+0.208%+$21 · spread now −0.114%, 7d avg −0.060%

Together, before fees+0.042%+ Points / potential airdropVest: Active · farm board+$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Vest is 0.053% cheaper against HTX than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.060%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX HYPE-USDT	92.875	0.0100	pay 0.0050% / 4h	15m 32s	$1.4M	$6.2M	75x
Short	Vest HYPE-PERP	92.769	0.0100	get 0.0013% / 1h	15m 32s	—	$243K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest against HTX. 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 HTXbpFee VestbpOrdersPrice spread, now −0.114%Rate

Funding earned: $0
Price spread: −0.114% → −0.060%: −$5.34
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Vest: 1 bp × 2 orders: −$2
Net: −$19.34
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: HTX: live order book, 3 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 HTX live order book, 3 min ago	1.35 bp	9.2 bp −$9	17.3 bp −$173	51.5 bp −$5,148	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 55 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
Arcus HYPE-USD	−0.0948%	1h	92.676	−0.214%	$1.1M	$3.9M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0256%	1h	92.657	−0.235%	$194K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0246%	1h	92.707	−0.181%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.690	−0.199%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0065%	4h	92.678	−0.212%	$157K	$666K	20x	as long as short
01 Exchange HYPEUSD	−0.0016%	1h	92.782	−0.100%	$87K	$361K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.692	−0.197%	$127K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.707	−0.180%	$22K	$304K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.725	−0.162%	$62K	—	150x	as long as short
Phemex HYPEUSDT	+0.0028%	8h	92.728	−0.158%	$12.5M	$2.7M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps HYPE-USD.P	+0.0034%	1h	92.670	−0.221%	$697K	$1.1M	10x	as long as short
BingX HYPE-USDT	+0.0038%	4h	92.709	−0.179%	—	$53.4M	—	as long as short
Bullet HYPE-USD	+0.0041%	1h	92.678	−0.212%	$110K	$578K	20x	as long as short
Phoenix HYPE	+0.0043%	1h	92.817	−0.062%	$210K	$1.2M	10x	as long as short
Aster HYPEUSDT	+0.0045%	4h	92.728	−0.158%	$8.7M	$36.2M	300x	as long as short
Bybit HYPEUSDT	+0.0045%	8h	92.730	−0.156%	$316.6M	$281.3M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0090%	8h	92.735	−0.151%	$113.6M	$303.8M	50x	as long as short
Gate HYPE_USDT	+0.0094%	4h	92.707	−0.181%	$44.5M	$55.3M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0094%	8h	92.728	−0.158%	$338K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.727	−0.160%	$16.0M	$62.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.727	−0.159%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.750	−0.135%	$69K	$1.1M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.730	−0.156%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.713	−0.175%	$7.1M	$45.3M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.759	−0.125%	$2.02B	$663.7M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.742	−0.143%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.748	−0.137%	$372.6M	$902.6M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.713	−0.174%	$87.4M	$80.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.710	−0.178%	$46.1M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.708	−0.180%	$224.4M	$98.7M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.681	−0.209%	$7.3M	$11.1M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.669	−0.222%	$28.7M	$57.2M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.760	−0.124%	$7.5M	$46.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.717	−0.170%	$350K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.715	−0.172%	$666K	$2.7M	20x	as long as short
Vest HYPE-PERPshort	+0.0100%	1h	92.769	−0.114%	—	$243K	5x
Polymarket Perps HYPE-USD	+0.0100%	1h	92.729	−0.157%	$469K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.677	−0.213%	$78K	$170K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.691	−0.198%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.702	−0.186%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.704	−0.184%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDTlong	+0.0100%	4h	92.875	long leg	$1.4M	$6.2M	75x
Bulk HYPE-USD	+0.0100%	1h	92.701	−0.187%	$202K	$13K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.687	−0.202%	$18.1M	$43.4M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.707	−0.180%	$392K	$164K	20x	as long as short
edgeX HYPEUSDC	+0.0106%	4h	92.709	−0.179%	$5.0M	$29.6M	30x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	93.000	+0.135%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.750	−0.135%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0236%	8h	92.830	−0.048%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0262%	1h	92.703	−0.186%	$79K	$132K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.706	−0.182%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0332%	1h	92.771	−0.112%	$20.6M	$30.5M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.733	−0.153%	$16.7M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0354%	1h	92.793	−0.088%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.811	−0.069%	$3.2M	$6.4M	20x	as long as short