Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.052%

Price spread now: HTX against Nado−0.081%7-day average +0.058% · 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−$40as in the Price arb table

costs, in and out, $10k−$260.258% of the position

Long on Nado Short on HTX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.058%+$6 on $10k

Price spread, last 4 days (all we have)+0.045%+$4 · spread now −0.081%, 7d avg +0.058%

Together, before fees+0.102%+ Points / potential airdropNado: Active · farm board+$10 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: HTX is 0.139% cheaper against Nado than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of +0.058%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado HYPE-PERP	93.855	0.0100	pay 0.0012% / 1h	26m 25s	$7.5M	$50.6M	10x
Short	HTX HYPE-USDT	93.779	0.0100	get 0.0050% / 4h	1h 26m	$1.4M	$6.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Nado. 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 NadobpFee HTXbpOrdersPrice spread, now −0.081%Rate

Funding earned: $0
Price spread: −0.081% → +0.058%: −$13.95
Slippage, 4 orders: −$6.77
Fee Nado: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$39.72
Costs to cover: 0.258%
Break-even: 4080278014050652.5 days

Slippage from Nado: live order book, 3 min ago; HTX: live order book, 3 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 Nado live order book, 3 min ago	0.05 bp	3.9 bp −$4	6.3 bp −$63	28.1 bp −$2,813	doesn't fit
Sell HTX live order book, 3 min ago	2.35 bp	9.7 bp −$10	14.4 bp −$144	45.0 bp −$4,495	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	−0.0992%	1h	93.495	−0.383%	$198K	$238K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0191%	1h	93.590	−0.282%	$22K	$21K	10x	as long as short
BingX HYPE-USDT	−0.0100%	4h	93.955	+0.107%	—	$53.5M	—	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.665	−0.202%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0066%	1h	93.879	+0.026%	$111K	$579K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0062%	1h	93.650	−0.218%	$705K	$1.2M	10x	as long as short
01 Exchange HYPEUSD	−0.0040%	1h	93.899	+0.047%	$86K	$368K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0018%	4h	93.634	−0.235%	$145K	$683K	20x	as long as short
Bluefin HYPE-PERP	−0.0003%	1h	93.644	−0.225%	$79K	$155K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.880	+0.026%	$129K	$26K	5x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	93.907	+0.056%	$20K	$290K	10x	as long as short
Bybit HYPEUSDT	+0.0002%	8h	93.860	+0.005%	$316.7M	$287.3M	75x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	94.048	+0.206%	$83K	—	150x	as long as short
Derive HYPE-PERP	+0.0007%	1h	93.302	−0.589%	$16.2M	$7.5M	10x	as long as short
Phoenix HYPE	+0.0017%	1h	93.623	−0.247%	$208K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0050%	4h	93.898	+0.046%	$226.3M	$99.5M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0078%	8h	93.823	−0.034%	$335K	$161K	20x	as long as short
Arcus HYPE-USD	+0.0084%	1h	93.785	−0.075%	$1.0M	$4.0M	10x	as long as short
Phemex HYPEUSDT	+0.0086%	8h	93.649	−0.219%	$12.8M	$2.8M	50x	as long as short
edgeX HYPEUSDC	+0.0093%	4h	93.551	−0.324%	$5.0M	$30.5M	30x	as long as short
Lighter HYPE	+0.0096%	1h	93.742	−0.121%	$16.2M	$64.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.758	−0.103%	$3.2M	$11.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.865	+0.011%	$78K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.770	−0.091%	$21K	$1.7M	10x	as long as short
Nado HYPE-PERPlong	+0.0100%	1h	93.855	long leg	$7.5M	$50.6M	10x
Hyperliquid HYPE	+0.0100%	1h	93.975	+0.128%	$2.06B	$684.0M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.901	+0.049%	$8.8M	$37.0M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.773	−0.088%	$10.1M	$15.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.927	+0.077%	$375.8M	$929.2M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.879	+0.026%	$115.7M	$315.6M	50x	as long as short
Gate HYPE_USDT	+0.0100%	4h	93.779	−0.081%	$48.7M	$55.7M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.903	+0.051%	$90.5M	$84.3M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.892	+0.039%	$46.5M	$18.7M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.685	−0.181%	$7.2M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.449	−0.433%	$28.7M	$56.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.492	−0.386%	$7.5M	$48.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.566	−0.308%	$354K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.643	−0.226%	$678K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.879	+0.025%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.895	+0.043%	$471K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.725	−0.139%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.666	−0.201%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDTshort	+0.0100%	4h	93.779	−0.081%	$1.4M	$6.7M	75x
Bulk HYPE-USD	+0.0100%	1h	93.438	−0.444%	$216K	$15K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.752	−0.110%	$18.2M	$43.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.670	−0.197%	$396K	$159K	20x	as long as short
Kalshi KXHYPEPERP	+0.0105%	8h	93.720	−0.144%	$1.8M	$5.6M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	93.660	−0.208%	$4.7M	$6.1M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0151% / S +0.0022%	1h	93.681	−0.185%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	93.540	−0.336%	$30K	$339K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0230%	1h	93.754	−0.108%	$7.4M	$4.2M	50x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	93.879	+0.026%	$77K	$129K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.642	−0.227%	$16.9M	$12.2M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0415%	1h	93.742	−0.121%	$20.9M	$29.5M	50x	as long as short
RISEx HYPE/USDC	+0.0559%	1h	93.935	+0.086%	$3.2M	$6.3M	20x	as long as short