Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0108%/8h= −11.8% APRpaid last 24h −0.023%

Price spread now: 01 Exchange against MEXC−0.011%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−$22as in the Price arb table

costs, in and out, $10k−$190.194% of the position

Long on MEXC Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.031%−$3 on $10k

Price spread, last 4 days (all we have)+0.030%+$3 · spread now −0.011%, 7d avg +0.018%

Together, before fees−0.001%$0 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and 01 Exchange is 0.029% cheaper against MEXC than usual: you would sell low and buy high (−$3 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	MEXC HYPE_USDT	92.835	0.0100	pay 0.0050% / 4h	13m 17s	$88.1M	$81.0M	100x
Short	01 Exchange HYPEUSD	92.825	−0.0008	pay 0.0001% / 1h	13m 17s	$87K	$361K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −0.011%Rate

Funding earned: −$22.68
Price spread: −0.011% → +0.018%: −$2.88
Slippage, 4 orders: −$8.41
Fee MEXC: 2 bp × 2 orders: −$4
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$44.97
Costs to cover: 0.194%
Break-even: never at this rate

Slippage from MEXC: live order book, 6 min ago; 01 Exchange: live order book, 46 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, 6 min ago	0.16 bp	2.2 bp −$2	5.9 bp −$59	12.9 bp −$1,294	43.6 bp −$21.8K
Sell 01 Exchange live order book, 46 min ago	0.05 bp	7.1 bp −$7	11.1 bp −$111	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
Arcus HYPE-USD	−0.0948%	1h	92.755	−0.086%	$1.1M	$3.8M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0256%	1h	92.720	−0.124%	$194K	$227K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0251%	1h	92.744	−0.098%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.792	−0.046%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0064%	4h	92.771	−0.069%	$157K	$666K	20x	as long as short
01 Exchange HYPEUSDshort	−0.0008%	1h	92.825	−0.011%	$87K	$361K	20x
dYdX HYPE-USD	0.0000%	1h	92.780	−0.059%	$127K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.795	−0.043%	$22K	$302K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.820	−0.016%	$62K	—	150x	as long as short
Phemex HYPEUSDT	+0.0023%	8h	92.764	−0.076%	$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
Bullet HYPE-USD	+0.0030%	1h	92.771	−0.069%	$111K	$579K	20x	as long as short
Ondo Perps HYPE-USD.P	+0.0037%	1h	92.720	−0.124%	$697K	$1.1M	10x	as long as short
BingX HYPE-USDT	+0.0038%	4h	92.812	−0.025%	—	$53.4M	—	as long as short
Phoenix HYPE	+0.0043%	1h	92.820	−0.016%	$210K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0046%	8h	92.770	−0.070%	$316.8M	$281.0M	75x	as long as short
Aster HYPEUSDT	+0.0051%	4h	92.798	−0.040%	$8.7M	$36.2M	300x	as long as short
OKX HYPE-USDT-SWAP	+0.0092%	8h	92.781	−0.058%	$113.7M	$303.6M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0094%	8h	92.817	−0.019%	$339K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.799	−0.038%	$16.0M	$62.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.802	−0.036%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.806	−0.031%	$69K	$1.1M	50x	as long as short
Gate HYPE_USDT	+0.0096%	4h	92.793	−0.045%	$44.5M	$55.3M	75x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.780	−0.059%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.803	−0.034%	$7.1M	$45.3M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.850	+0.016%	$2.02B	$663.8M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.832	−0.003%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.795	−0.043%	$372.8M	$902.2M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.760	−0.081%	$202K	$13K	10x	as long as short
MEXC HYPE_USDTlong	+0.0100%	4h	92.835	long leg	$88.1M	$81.0M	100x
KuCoin HYPEUSDTM	+0.0100%	4h	92.821	−0.015%	$46.1M	$18.4M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.788	−0.051%	$224.6M	$98.7M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.770	−0.070%	$7.3M	$11.1M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.669	−0.179%	$28.7M	$57.2M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.765	−0.076%	$7.5M	$46.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.732	−0.111%	$350K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.785	−0.054%	$666K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.838	+0.003%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.822	−0.014%	$469K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.810	−0.027%	$79K	$170K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.782	−0.057%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.823	−0.013%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.792	−0.046%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.950	+0.124%	$1.4M	$6.2M	75x	as long as short
edgeX HYPEUSDC	+0.0102%	4h	92.706	−0.139%	$5.0M	$29.6M	30x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.776	−0.064%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.795	−0.043%	$392K	$164K	20x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	93.000	+0.178%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.840	+0.005%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0235%	8h	92.850	+0.016%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0263%	1h	92.791	−0.048%	$79K	$131K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0267%	1h	92.878	+0.046%	$7.5M	$4.5M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.806	−0.032%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0331%	1h	92.850	+0.016%	$20.6M	$30.4M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.775	−0.065%	$16.7M	$11.6M	75x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.870	+0.038%	$3.2M	$6.4M	20x	as long as short