Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0006%/8h= +0.7% APRpaid last 24h +0.007%

Price spread now: Extended against MEXC−0.016%7-day average −0.034% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$9as in the Price arb table

costs, in and out, $10k−$110.107% of the position

Long on MEXC Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.037%+$4 on $10k

Price spread, last 7 days+0.022%+$2 · spread now −0.016%, 7d avg −0.034%

Together, before fees+0.059%+ Points / potential airdropExtended: Active · farm board+$6 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC HYPE_USDT	92.954	0.0098	pay 0.0049% / 4h	1h 49m	$90.1M	$81.4M	100x
Short	Extended HYPE-USD	92.939	0.0104	get 0.0013% / 1h	49m 34s	$18.3M	$42.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against MEXC. 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 MEXCbpFee ExtendedbpOrdersPrice spread, now −0.016%Rate

Funding earned: $1.26
Price spread: −0.016% → −0.034%: $1.81
Slippage, 4 orders: −$1.67
Fee MEXC: 2 bp × 2 orders: −$4
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$7.6
Costs to cover: 0.107%
Break-even: 49.2 days

Slippage from MEXC: live order book, 4 min ago; Extended: live order book, 5 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 MEXC live order book, 4 min ago	0.05 bp	2.1 bp −$2	2.4 bp −$24	11.0 bp −$1,099	40.6 bp −$20.3K
Sell Extended live order book, 5 min ago	0.05 bp	4.0 bp −$4	5.4 bp −$54	27.0 bp −$2,705	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
Aftermath Perps HYPEUSD	−0.0298%	1h	93.064	+0.118%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0131%	1h	92.927	−0.029%	$1.2M	$4.0M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.961	+0.008%	$3K	$331	25x	as long as short
Hibachi HYPE/USDT-P	−0.0048%	1h	92.969	+0.017%	$196K	$231K	7x	as long as short
01 Exchange HYPEUSD	−0.0016%	1h	92.996	+0.045%	$90K	$365K	20x	as long as short
Derive HYPE-PERP	−0.0002%	1h	92.860	−0.102%	$16.3M	$7.1M	10x	as long as short
Aster HYPEUSDT	0.0000%	4h	92.952	−0.002%	$8.9M	$36.0M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.009	+0.059%	$127K	$32K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.031	+0.083%	$1.9M	$5.3M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	92.956	+0.003%	$23K	$331K	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	92.932	−0.024%	$20K	—	150x	as long as short
Ondo Perps HYPE-USD.P	+0.0009%	1h	92.900	−0.058%	$697K	$921K	10x	as long as short
Popdex HYPEUSDT	+0.0016%	1h	92.971	+0.018%	$57K	$1.2M	50x	as long as short
Bybit HYPEUSDT	+0.0032%	8h	92.946	−0.009%	$323.2M	$286.9M	75x	as long as short
Phoenix HYPE	+0.0034%	1h	93.039	+0.091%	$215K	$1.2M	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0041%	4h	92.916	−0.041%	$165K	$515K	20x	as long as short
Gate HYPE_USDT	+0.0060%	4h	92.955	+0.001%	$44.0M	$57.3M	75x	as long as short
Bullet HYPE-USD	+0.0094%	1h	92.929	−0.027%	$112K	$579K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.013	+0.063%	$18.5M	$58.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.978	+0.026%	$3.0M	$12.1M	20x	as long as short
MEXC HYPE_USDTlong	+0.0098%	4h	92.954	long leg	$90.1M	$81.4M	100x
Binance HYPEUSDT	+0.0098%	4h	92.954	0.000%	$382.5M	$892.1M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	92.961	+0.008%	$338K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	92.960	+0.006%	$40K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.985	+0.033%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.001	+0.051%	$2.02B	$670.7M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.981	+0.029%	$10.0M	$14.3M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	92.958	+0.004%	$113.9M	$313.9M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.884	−0.075%	$203K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.951	−0.003%	$47.1M	$19.1M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.969	+0.016%	$225.3M	$102.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	92.955	+0.001%	—	$54.2M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.936	−0.019%	$7.8M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.887	−0.072%	$28.9M	$50.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.245	+0.313%	$7.5M	$44.9M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.016	+0.067%	$411K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.968	+0.015%	$672K	$2.5M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.010	+0.060%	$492K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.933	−0.023%	$75K	$167K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.019	+0.070%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.913	−0.044%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	92.959	+0.005%	$12.7M	$2.6M	50x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.998	+0.047%	—	$454K	5x	as long as short
Extended HYPE-USDshort	+0.0104%	1h	92.939	−0.016%	$18.3M	$42.2M	50x
Aevo HYPE-PERP	+0.0104%	1h	92.912	−0.045%	$395K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0108%	4h	92.923	−0.033%	$5.0M	$29.5M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	92.950	−0.004%	$4.9M	$5.7M	50x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	92.820	−0.144%	$30K	$338K	12x	as long as short
Reya HYPERUSDPERP	+0.0246%	1h	92.961	+0.008%	$77K	$158K	15x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.029	+0.081%	$2.7M	$6.8M	20x	as long as short
HTX HYPE-USDT	+0.0292%	4h	93.139	+0.199%	$1.5M	$7.6M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0158%	1h	92.955	+0.001%	$1.5M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.975	+0.023%	$17.0M	$12.4M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0385%	1h	93.019	+0.070%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0467%	1h	93.040	+0.092%	$20.7M	$28.5M	50x	as long as short