Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0060%/8h= +6.6% APRpaid last 24h +0.004%

Price spread now: Vest against MEXC+0.030%49s7-day average −0.008% · you sell dearer than you buy

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

Long on MEXC Short on Vest

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.119%−$12 on $10k

Price spread, last 4 days (all we have)+0.969%+$97 · spread now +0.030%, 7d avg −0.008%

Together, before fees+0.850%+ Points / potential airdropVest: Active · farm board+$85 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Vest is 0.038% dearer against MEXC than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.008%. Mind the row above: over the last 3 days funding on this pair cost −0.119%, so the current rate has only just turned in your favour. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC HYPE_USDT	93.214	0.0040	pay 0.0020% / 4h	2h 38m	$87.5M	$82.5M	100x
Short	Vest HYPE-PERP	93.242	0.0100	get 0.0013% / 1h	38m 39s	—	$243K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest against MEXC. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 VestbpOrdersPrice spread, now +0.030%Rate

Funding earned: $12.6
Price spread: +0.030% → −0.008%: $3.78
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Vest: 1 bp × 2 orders: −$2
Net: $10.38
Costs to cover: 0.060%
Break-even: 1.2 days

Slippage unknown: MEXC: live order book, 5 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 MEXC live order book, 5 min ago	0.05 bp	2.5 bp −$2	6.2 bp −$62	13.4 bp −$1,341	49.3 bp −$24.6K
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
Hibachi HYPE/USDT-P	−0.0944%	1h	92.980	−0.251%	$196K	$229K	7x	as long as short
Arcus HYPE-USD	−0.0786%	1h	93.081	−0.143%	$1.2M	$3.9M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0167%	1h	93.221	+0.008%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0147%	1h	93.140	−0.079%	$696K	$983K	10x	as long as short
Gate HYPE_USDT	−0.0092%	4h	93.207	−0.008%	$44.2M	$54.3M	75x	as long as short
Backpack HYPE_USDC_PERP	−0.0090%	1h	93.247	+0.035%	$7.8M	$10.4M	20x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	93.184	−0.032%	$85K	$357K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.216	+0.002%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0057%	4h	93.228	+0.015%	$156K	$652K	20x	as long as short
Aster HYPEUSDT	−0.0034%	4h	93.223	+0.010%	$8.8M	$36.3M	300x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bluefin HYPE-PERP	−0.0028%	1h	93.257	+0.046%	$79K	$174K	20x	as long as short
Phemex HYPEUSDT	−0.0025%	8h	93.199	−0.016%	$12.6M	$2.7M	50x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.245	+0.033%	$128K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.255	+0.044%	$22K	$333K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.286	+0.078%	$25K	—	150x	as long as short
Bybit HYPEUSDT	+0.0003%	8h	93.189	−0.027%	$320.5M	$286.1M	75x	as long as short
BingX HYPE-USDT	+0.0006%	4h	93.202	−0.013%	—	$54.2M	—	as long as short
Bullet HYPE-USD	+0.0030%	1h	93.263	+0.053%	$111K	$579K	20x	as long as short
Binance HYPEUSDT	+0.0039%	4h	93.234	+0.021%	$379.2M	$907.1M	75x	as long as short
MEXC HYPE_USDTlong	+0.0040%	4h	93.214	long leg	$87.5M	$82.5M	100x
edgeX HYPEUSDC	+0.0056%	4h	93.325	+0.119%	$5.1M	$29.8M	30x	as long as short
Phoenix HYPE	+0.0060%	1h	93.233	+0.020%	$212K	$1.2M	10x	as long as short
OKX HYPE-USDT-SWAP	+0.0067%	8h	93.200	−0.015%	$114.7M	$315.0M	50x	as long as short
Derive HYPE-PERP	+0.0067%	1h	93.215	+0.001%	$16.2M	$7.6M	10x	as long as short
Aevo HYPE-PERP	+0.0088%	1h	93.277	+0.068%	$397K	$177K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	93.291	+0.082%	$339K	$165K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.251	+0.039%	$16.4M	$62.3M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.250	+0.039%	$3.1M	$11.9M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.169	−0.048%	$65K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.210	−0.004%	$21K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.215	+0.001%	$5.6M	$45.3M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.316	+0.109%	$2.04B	$668.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.238	+0.025%	$10.0M	$14.8M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.404	+0.203%	$203K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.252	+0.041%	$46.0M	$18.4M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.206	−0.009%	$225.5M	$100.8M	75x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.151	−0.068%	$30.9M	$55.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.195	−0.020%	$7.5M	$48.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.355	+0.151%	$337K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.050	−0.176%	$664K	$2.6M	20x	as long as short
Vest HYPE-PERPshort	+0.0100%	1h	93.242	+0.030%	—	$243K	5x
Polymarket Perps HYPE-USD	+0.0100%	1h	93.208	−0.006%	$466K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.322	+0.116%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.260	+0.049%	$2.0M	$2.0M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.162	−0.056%	$18.3M	$44.5M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0136%	1h	93.310	+0.103%	$4.9M	$5.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0137%	1h	93.050	−0.176%	$30K	$338K	12x	as long as short
BloFin HYPE-USDT	+0.0175%	4h	93.407	+0.207%	$17.0M	$12.1M	75x	as long as short
RISEx HYPE/USDC	+0.0210%	1h	93.230	+0.018%	$2.7M	$6.7M	20x	as long as short
HTX HYPE-USDT	+0.0237%	4h	93.400	+0.200%	$1.4M	$6.1M	75x	as long as short
Reya HYPERUSDPERP	+0.0254%	1h	93.254	+0.043%	$79K	$142K	15x	as long as short
Kalshi KXHYPEPERP	+0.0260%	8h	93.286	+0.077%	$1.9M	$5.2M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0334% / S −0.0158%	1h	93.279	+0.070%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0672%	1h	93.369	+0.166%	$7.4M	$4.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0683%	1h	93.363	+0.160%	$20.8M	$30.2M	50x	as long as short