Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0072%/8h= +7.8% APRpaid last 24h +0.003%

Price spread now: edgeX against OKX−0.238%7-day average −0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$220.217% of the position

Long on OKX Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.058%+$6 on $10k

Price spread, last 7 days+0.202%+$20 · spread now −0.238%, 7d avg −0.021%

Together, before fees+0.260%+ Points / potential airdropedgeX: Active · farm board+$26 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.217% cheaper against OKX than usual: you would sell low and buy high (spread −0.238% now, against its 7-day average of −0.021%). If the spread goes back, that is −$22 on $10k: about 10 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.058% in total) that is about 26 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX HYPE-USDT-SWAP	94.850	−0.0044	get 0.0044% / 8h	4h 47m	$119.0M	$304.7M	50x
Short	edgeX HYPEUSDC	94.624	0.0027	get 0.0014% / 4h	47m 07s	$5.0M	$28.1M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against OKX. 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 OKXbpFee edgeXbpOrdersPrice spread, now −0.238%Rate

Funding earned: $15.02
Price spread: −0.238% → −0.021%: −$21.73
Slippage, 4 orders: −$2.69
Fee OKX: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$28.39
Costs to cover: 0.217%
Break-even: 20.2 days

Slippage from OKX: live order book, 5 min ago; edgeX: live order book, 5 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 OKX live order book, 5 min ago	0.05 bp	7.0 bp −$7	10.0 bp −$100	19.1 bp −$1,905	doesn't fit
Sell edgeX live order book, 5 min ago	0.32 bp	4.8 bp −$5	5.0 bp −$50	124.8 bp −$12.5K	doesn't fit

HYPE on 55 exchanges

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
Kraken Futures PF_HYPEUSD	−0.0281%	1h	94.962	+0.118%	$18.3M	$32.6M	50x	as long as short
ApeX Omni HYPEUSDT	−0.0262%	1h	94.636	−0.226%	$322K	$924K	50x	as long as short
Phemex HYPEUSDT	−0.0251%	8h	94.933	+0.088%	$13.0M	$2.2M	50x	as long as short
Bluefin HYPE-PERP	−0.0231%	1h	94.923	+0.077%	$79K	$131K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0209%	1h	94.770	−0.084%	$677K	$1.3M	10x	as long as short
Aster HYPEUSDT	−0.0101%	4h	94.908	+0.061%	$9.0M	$34.6M	300x	as long as short
01 Exchange HYPEUSD	−0.0096%	1h	94.969	+0.125%	$102K	$352K	20x	as long as short
Lighter HYPE	−0.0096%	1h	94.926	+0.080%	$16.5M	$55.4M	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.894	+0.046%	$3K	$421	25x	as long as short
Gate HYPE_USDT	−0.0076%	4h	94.963	+0.119%	$56.0M	$52.7M	75x	as long as short

Show all 55 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_HYPE_USDC	−0.0076%	4h	94.907	+0.060%	$147K	$643K	20x	as long as short
Coinbase International HYPE-PERP-INTX	−0.0064%	1h	94.990	+0.148%	$4.8M	$5.4M	50x	as long as short
Aftermath Perps HYPEUSD	−0.0045%	1h	94.918	+0.071%	$22K	$17K	10x	as long as short
OKX HYPE-USDT-SWAPlong	−0.0044%	8h	94.850	long leg	$119.0M	$304.7M	50x
Bitget HYPEUSDT	−0.0028%	4h	94.868	+0.019%	$229.8M	$86.1M	75x	as long as short
Phoenix HYPE	−0.0017%	1h	94.778	−0.076%	$199K	$1.1M	10x	as long as short
Derive HYPE-PERP	−0.0011%	1h	94.880	+0.032%	$16.4M	$7.0M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.871	+0.022%	$128K	$96K	5x	as long as short
Perpl HYPE	0.0000%	43m	94.966	+0.123%	$24K	$249K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	94.968	+0.124%	$99K	—	150x	as long as short
Bullet HYPE-USD	+0.0016%	1h	94.980	+0.138%	$114K	$585K	20x	as long as short
MEXC HYPE_USDT	+0.0024%	4h	94.940	+0.095%	$88.7M	$82.7M	100x	as long as short
edgeX HYPEUSDCshort	+0.0027%	4h	94.624	−0.238%	$5.0M	$28.1M	30x
Bybit HYPEUSDT	+0.0027%	8h	94.897	+0.050%	$320.5M	$263.3M	75x	as long as short
Binance HYPEUSDT	+0.0029%	4h	94.953	+0.109%	$382.9M	$851.4M	75x	as long as short
BingX HYPE-USDT	+0.0034%	4h	94.863	+0.014%	—	$50.2M	—	as long as short
Lighter RH HYPE	+0.0040%	1h	94.948	+0.103%	$3.2M	$9.9M	20x	as long as short
Backpack HYPE_USDC_PERP	+0.0047%	1h	94.860	+0.011%	$6.8M	$12.3M	20x	as long as short
Popdex HYPEUSDT	+0.0056%	1h	94.952	+0.108%	$273K	$1.0M	50x	as long as short
SoDEX HYPE-USD	+0.0071%	1h	94.943	+0.098%	$2.1M	$335K	10x	as long as short
KuCoin HYPEUSDTM	+0.0084%	4h	94.953	+0.109%	$47.4M	$17.8M	75x	as long as short
Aevo HYPE-PERP	+0.0088%	1h	94.932	+0.087%	$401K	$125K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0092%	8h	94.881	+0.033%	$339K	$31K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	94.860	+0.011%	$39K	$1.5M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.921	+0.075%	$7.2M	$50.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	95.067	+0.229%	$2.11B	$643.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.903	+0.056%	$10.2M	$12.8M	20x	as long as short
Arcus HYPE-USD	+0.0100%	1h	94.923	+0.077%	$1.0M	$2.8M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	95.036	+0.196%	$228K	$20K	10x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.740	−0.116%	$30.0M	$52.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.605	−0.259%	$7.7M	$41.1M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.833	−0.018%	$690K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.978	+0.135%	—	$80K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.979	+0.136%	$491K	$2.4M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	95.030	+0.190%	$33K	$1.4M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.000	+0.158%	$1.4M	$5.3M	75x	as long as short
BloFin HYPE-USDT	+0.0104%	4h	94.920	+0.074%	$17.5M	$11.6M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.912	+0.066%	$18.1M	$37.6M	50x	as long as short
Kalshi KXHYPEPERP	+0.0119%	8h	94.948	+0.103%	$1.8M	$5.1M	2.3x	as long as short
RISEx HYPE/USDC	+0.0138%	1h	94.953	+0.108%	$3.1M	$5.2M	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0182%	1h	95.034	+0.194%	$7.5M	$4.2M	50x	as long as short
Reya HYPERUSDPERP	+0.0268%	1h	94.937	+0.092%	$85K	$90K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0155%	1h	94.972	+0.129%	$1.4M	—	100x	as long as short
Hibachi HYPE/USDT-P	+0.1008%	1h	94.925	+0.079%	$219K	$287K	7x	as long as short
Injective HYPE/USDC PERP	+0.1234%	1h	95.420	+0.601%	$31K	$334K	12x	as long as short