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 +0.003%

Price spread now: MEXC against Nado−0.002%7-day average +0.003% · 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−$13as in the Price arb table

costs, in and out, $10k−$120.121% of the position

Long on Nado Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.009%+$1 on $10k

Price spread, last 7 days−0.016%−$2 · spread now −0.002%, 7d avg +0.003%

Together, before fees−0.007%+ Points / potential airdropNado: Active · farm board−$1 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado HYPE-PERP	94.254	0.0100	pay 0.0012% / 1h	16m 19s	$7.5M	$50.5M	10x
Short	MEXC HYPE_USDT	94.253	0.0100	get 0.0050% / 4h	1h 16m	$90.1M	$85.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.002%Rate

Funding earned: $0
Price spread: −0.002% → +0.003%: −$0.45
Slippage, 4 orders: −$1.1
Fee Nado: 3.5 bp × 2 orders: −$7
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$12.56
Costs to cover: 0.121%
Break-even: 1289954409296397.3 days

Slippage from Nado: live order book, 3 min ago; MEXC: 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	4.0 bp −$4	6.3 bp −$63	27.1 bp −$2,710	doesn't fit
Sell MEXC live order book, 3 min ago	0.05 bp	2.1 bp −$2	3.0 bp −$30	17.7 bp −$1,770	42.3 bp −$21.1K

HYPE on 54 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	−0.1096%	1h	94.167	−0.092%	$200K	$236K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0181%	1h	94.224	−0.032%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.286	+0.033%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0060%	1h	94.253	−0.002%	$111K	$579K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0054%	1h	94.200	−0.058%	$709K	$1.2M	10x	as long as short
01 Exchange HYPEUSD	−0.0032%	1h	94.261	+0.007%	$86K	$368K	20x	as long as short
Bluefin HYPE-PERP	−0.0017%	1h	94.234	−0.022%	$80K	$155K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0012%	4h	94.222	−0.034%	$146K	$685K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.284	+0.031%	$129K	$26K	5x	as long as short
Bybit HYPEUSDT	0.0000%	8h	94.227	−0.029%	$316.9M	$289.4M	75x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXHYPEPERP	0.0000%	8h	94.308	+0.057%	$1.8M	$5.6M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.266	+0.012%	$19K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	94.279	+0.026%	$84K	—	150x	as long as short
Phoenix HYPE	+0.0017%	1h	94.307	+0.056%	$207K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0054%	4h	94.248	−0.007%	$227.2M	$99.3M	75x	as long as short
Phemex HYPEUSDT	+0.0057%	8h	94.184	−0.075%	$12.8M	$2.9M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0078%	8h	94.314	+0.063%	$337K	$156K	20x	as long as short
edgeX HYPEUSDC	+0.0084%	4h	94.244	−0.011%	$5.0M	$30.7M	30x	as long as short
Arcus HYPE-USD	+0.0084%	1h	94.230	−0.026%	$1.0M	$3.5M	10x	as long as short
Lighter HYPE	+0.0096%	1h	94.254	−0.001%	$16.3M	$64.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.262	+0.008%	$3.2M	$11.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.241	−0.014%	$78K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.260	+0.006%	$17K	$1.7M	10x	as long as short
Nado HYPE-PERPlong	+0.0100%	1h	94.254	long leg	$7.5M	$50.5M	10x
Hyperliquid HYPE	+0.0100%	1h	94.352	+0.103%	$2.07B	$687.6M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.259	+0.004%	$8.8M	$37.1M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.279	+0.026%	$10.2M	$15.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.255	+0.001%	$377.0M	$932.0M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	94.236	−0.020%	$116.0M	$318.8M	50x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.234	−0.022%	$49.2M	$56.5M	75x	as long as short
MEXC HYPE_USDTshort	+0.0100%	4h	94.253	−0.002%	$90.1M	$85.1M	100x
KuCoin HYPEUSDTM	+0.0100%	4h	94.254	−0.001%	$46.9M	$18.6M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.232	−0.024%	—	$53.6M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.269	+0.015%	$7.2M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.229	−0.028%	$29.0M	$56.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.298	+0.046%	$7.6M	$47.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.205	−0.053%	$362K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.297	+0.045%	$682K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.326	+0.076%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.260	+0.006%	$495K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.332	+0.082%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.255	+0.001%	$2.1M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.411	+0.166%	$1.4M	$6.8M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.275	+0.022%	$218K	$15K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.219	−0.038%	$18.2M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.264	+0.010%	$398K	$159K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	94.270	+0.016%	$4.7M	$6.2M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0151% / S +0.0022%	1h	94.295	+0.043%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.610	+0.377%	$31K	$339K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0259%	1h	94.334	+0.084%	$7.5M	$4.3M	50x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.246	−0.009%	$77K	$129K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.245	−0.010%	$16.9M	$12.3M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0412%	1h	94.315	+0.064%	$20.2M	$30.4M	50x	as long as short
RISEx HYPE/USDC	+0.0559%	1h	94.275	+0.022%	$3.2M	$6.4M	20x	as long as short