Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0171%/8h= −18.7% APRpaid last 24h −0.071%

Price spread now: 01 Exchange against HTX−0.180%7-day average −0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$310.310% of the position

Long on HTX Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.079%−$8 on $10k

Price spread, last 4 days (all we have)+0.482%+$48 · spread now −0.180%, 7d avg −0.018%

Together, before fees+0.403%+$40 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and 01 Exchange is 0.161% cheaper against HTX than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of −0.018%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX HYPE-USDT	92.965	0.0115	pay 0.0057% / 4h	1h 06m	$1.4M	$6.1M	75x
Short	01 Exchange HYPEUSD	92.798	−0.0056	pay 0.0007% / 1h	6m 16s	$86K	$346K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −0.180%Rate

Funding earned: −$35.9
Price spread: −0.180% → −0.018%: −$16.12
Slippage, 4 orders: −$12.05
Fee HTX: 6 bp × 2 orders: −$12
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$83.07
Costs to cover: 0.310%
Break-even: never at this rate

Slippage from HTX: live order book, 3 min ago; 01 Exchange: live order book, 58 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 HTX live order book, 3 min ago	1.82 bp	8.7 bp −$9	14.8 bp −$148	49.3 bp −$4,926	doesn't fit
Sell 01 Exchange live order book, 58 min ago	0.80 bp	6.0 bp −$6	9.7 bp −$97	doesn't fit	doesn't fit

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
Hibachi HYPE/USDT-P	−0.0928%	1h	92.977	+0.013%	$196K	$226K	7x	as long as short
Arcus HYPE-USD	−0.0899%	1h	92.764	−0.216%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0134%	1h	92.830	−0.145%	$698K	$1.0M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.889	−0.082%	$3K	$331	25x	as long as short
Aftermath Perps HYPEUSD	−0.0080%	1h	93.147	+0.196%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSDshort	−0.0056%	1h	92.798	−0.180%	$86K	$346K	20x
Orderly PERP_HYPE_USDC	−0.0052%	4h	92.823	−0.153%	$154K	$655K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.900	−0.069%	$127K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.862	−0.111%	$23K	$316K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.868	−0.105%	$62K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet HYPE-USD	+0.0004%	1h	92.820	−0.156%	$111K	$579K	20x	as long as short
Aster HYPEUSDT	+0.0011%	4h	92.834	−0.141%	$8.8M	$35.9M	300x	as long as short
Phemex HYPEUSDT	+0.0018%	8h	92.888	−0.083%	$12.5M	$2.7M	50x	as long as short
Phoenix HYPE	+0.0026%	1h	93.210	+0.264%	$213K	$1.2M	10x	as long as short
BingX HYPE-USDT	+0.0038%	4h	92.824	−0.152%	—	$53.0M	—	as long as short
Gate HYPE_USDT	+0.0042%	4h	92.820	−0.156%	$44.4M	$55.6M	75x	as long as short
Bybit HYPEUSDT	+0.0046%	8h	92.830	−0.145%	$319.2M	$276.9M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0072%	8h	92.811	−0.166%	$113.2M	$298.1M	50x	as long as short
Derive HYPE-PERP	+0.0087%	1h	92.806	−0.171%	$16.1M	$7.5M	10x	as long as short
Binance HYPEUSDT	+0.0091%	4h	92.824	−0.152%	$375.5M	$880.4M	75x	as long as short
MEXC HYPE_USDT	+0.0094%	4h	92.829	−0.146%	$88.9M	$81.4M	100x	as long as short
Paradex HYPE-USD-PERP	+0.0096%	8h	92.913	−0.056%	$339K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.861	−0.112%	$16.1M	$62.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.852	−0.122%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.824	−0.152%	$67K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	92.860	−0.113%	$24K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.856	−0.118%	$5.8M	$43.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.918	−0.051%	$2.03B	$654.1M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.898	−0.072%	$10.0M	$14.8M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.856	−0.117%	$45.7M	$18.2M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.814	−0.162%	$224.4M	$96.4M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.959	−0.006%	$7.4M	$10.0M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.197	+0.249%	$31.4M	$53.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.172	+0.223%	$7.5M	$46.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.081	+0.125%	$338K	$998K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.040	+0.081%	$665K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.930	−0.037%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.887	−0.084%	$469K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.802	−0.175%	$79K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.852	−0.122%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.825	−0.151%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.155	+0.204%	$203K	$10K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.789	−0.189%	$18.3M	$42.8M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.816	−0.160%	$395K	$162K	20x	as long as short
edgeX HYPEUSDC	+0.0114%	4h	93.123	+0.170%	$5.0M	$28.9M	30x	as long as short
HTX HYPE-USDTlong	+0.0115%	4h	92.965	long leg	$1.4M	$6.1M	75x
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	92.850	−0.124%	$4.8M	$5.5M	50x	as long as short
Reya HYPERUSDPERP	+0.0259%	1h	92.826	−0.150%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0269%	8h	92.920	−0.048%	$1.9M	$5.2M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0156%	1h	92.855	−0.118%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0331%	1h	92.928	−0.040%	$7.4M	$4.4M	50x	as long as short
BloFin HYPE-USDT	+0.0335%	4h	92.971	+0.006%	$16.9M	$11.5M	75x	as long as short
RISEx HYPE/USDC	+0.0510%	1h	92.930	−0.038%	$3.2M	$6.3M	20x	as long as short
Injective HYPE/USDC PERP	+0.0519%	1h	93.390	+0.457%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0689%	1h	92.914	−0.055%	$20.6M	$29.9M	50x	as long as short