Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.012%

Price spread now: Vest against Nado+0.090%7-day average −0.007% · you sell dearer than you buy

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

Long on Nado Short on Vest

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.108%−$11 on $10k

Price spread, last 4 days (all we have)−0.244%−$24 · spread now +0.090%, 7d avg −0.007%

Together, before fees−0.353%+ Points / potential airdropNado: Active · Vest: Active · farm board−$35 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: Vest is 0.097% dearer against Nado than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of −0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado HYPE-PERP	93.638	0.0100	pay 0.0012% / 1h	17m 26s	$5.7M	$44.7M	10x
Short	Vest HYPE-PERP	93.723	0.0100	get 0.0013% / 1h	17m 26s	—	$243K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest against Nado. 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 NadobpFee VestbpOrdersPrice spread, now +0.090%Rate

Funding earned: $0
Price spread: +0.090% → −0.007%: $9.74
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Vest: 1 bp × 2 orders: −$2
Net: $0.74
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Nado: live order book, 2 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 Nado live order book, 2 min ago	0.05 bp	3.8 bp −$4	6.6 bp −$66	24.6 bp −$2,458	doesn't fit
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 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	−0.1040%	1h	93.615	−0.025%	$197K	$229K	7x	as long as short
Arcus HYPE-USD	−0.0786%	1h	93.537	−0.108%	$1.2M	$3.8M	10x	as long as short
Phemex HYPEUSDT	−0.0129%	8h	93.687	+0.052%	$12.7M	$2.7M	50x	as long as short
Aftermath Perps HYPEUSD	−0.0084%	1h	93.779	+0.150%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.666	+0.029%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0066%	1h	93.710	+0.076%	$702K	$922K	10x	as long as short
Orderly PERP_HYPE_USDC	−0.0056%	4h	93.728	+0.096%	$156K	$646K	20x	as long as short
01 Exchange HYPEUSD	−0.0048%	1h	93.654	+0.017%	$85K	$349K	20x	as long as short
Backpack HYPE_USDC_PERP	−0.0030%	1h	93.650	+0.012%	$7.8M	$10.3M	20x	as long as short
Gate HYPE_USDT	−0.0010%	4h	93.647	+0.009%	$44.4M	$55.2M	75x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	−0.0004%	4h	93.655	+0.018%	$8.8M	$35.8M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.671	+0.034%	$128K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.707	+0.073%	$22K	$325K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.726	+0.093%	$26K	—	150x	as long as short
BingX HYPE-USDT	+0.0002%	4h	93.658	+0.021%	—	$53.6M	—	as long as short
Bybit HYPEUSDT	+0.0013%	8h	93.647	+0.009%	$321.5M	$280.8M	75x	as long as short
Phoenix HYPE	+0.0060%	1h	93.766	+0.136%	$213K	$1.2M	10x	as long as short
MEXC HYPE_USDT	+0.0066%	4h	93.715	+0.082%	$88.9M	$83.3M	100x	as long as short
Binance HYPEUSDT	+0.0068%	4h	93.637	−0.001%	$380.7M	$888.9M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0070%	8h	93.664	+0.027%	$115.2M	$307.4M	50x	as long as short
Bullet HYPE-USD	+0.0073%	1h	93.711	+0.077%	$111K	$577K	20x	as long as short
edgeX HYPEUSDC	+0.0085%	4h	93.690	+0.055%	$5.1M	$30.0M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0096%	8h	93.720	+0.087%	$340K	$164K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.700	+0.066%	$16.4M	$62.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.689	+0.054%	$3.1M	$11.9M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.662	+0.025%	$67K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.777	+0.148%	$399K	$175K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.660	+0.023%	$21K	$1.6M	10x	as long as short
Nado HYPE-PERPlong	+0.0100%	1h	93.638	long leg	$5.7M	$44.7M	10x
Hyperliquid HYPE	+0.0100%	1h	93.782	+0.153%	$2.05B	$666.0M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.703	+0.068%	$10.1M	$14.7M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.696	+0.061%	$46.4M	$18.0M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.668	+0.032%	$226.9M	$98.3M	75x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.748	+0.117%	$31.1M	$54.6M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.737	+0.105%	$7.6M	$47.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.706	+0.072%	$339K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.758	+0.128%	$669K	$2.6M	20x	as long as short
Vest HYPE-PERPshort	+0.0100%	1h	93.723	+0.090%	—	$243K	5x
Polymarket Perps HYPE-USD	+0.0100%	1h	93.730	+0.098%	$473K	$2.4M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.701	+0.067%	$79K	$170K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.727	+0.094%	$16.3M	$7.7M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.849	+0.225%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.776	+0.147%	$2.0M	$1.9M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.880	+0.258%	$204K	$10K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.619	−0.021%	$18.3M	$44.0M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0136%	1h	93.810	+0.183%	$4.9M	$5.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0137%	1h	94.180	+0.578%	$31K	$339K	12x	as long as short
HTX HYPE-USDT	+0.0199%	4h	93.899	+0.278%	$1.4M	$5.9M	75x	as long as short
RISEx HYPE/USDC	+0.0210%	1h	93.734	+0.102%	$3.2M	$7.0M	20x	as long as short
Reya HYPERUSDPERP	+0.0255%	1h	93.658	+0.020%	$80K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0279%	8h	93.787	+0.159%	$1.9M	$4.9M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0156%	1h	93.772	+0.142%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0443%	1h	93.859	+0.235%	$7.4M	$4.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0680%	1h	93.842	+0.217%	$21.0M	$29.8M	50x	as long as short