Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.015%

Price spread now: Vest against OKX+0.073%48s7-day average +0.020% · you sell dearer than you buy

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

Long on OKX Short on Vest

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.097%−$10 on $10k

Price spread, last 4 days (all we have)+0.164%+$16 · spread now +0.073%, 7d avg +0.020%

Together, before fees+0.068%+ Points / potential airdropVest: Active · farm board+$7 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 0.053% dearer against OKX than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.020%. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX HYPE-USDT-SWAP	92.904	0.0100	pay 0.0100% / 8h	3h 18m	$113.9M	$304.5M	50x
Short	Vest HYPE-PERP	92.972	0.0100	get 0.0013% / 1h	18m 37s	—	$243K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest 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 VestbpOrdersPrice spread, now +0.073%Rate

Funding earned: $0
Price spread: +0.073% → +0.020%: $5.34
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Vest: 1 bp × 2 orders: −$2
Net: −$6.66
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 5 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 OKX live order book, 5 min ago	0.05 bp	5.4 bp −$5	7.9 bp −$79	18.9 bp −$1,887	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 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	−0.1720%	1h	92.759	−0.156%	$194K	$232K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0301%	1h	92.851	−0.057%	$22K	$21K	10x	as long as short
Arcus HYPE-USD	−0.0194%	1h	92.882	−0.024%	$1.0M	$3.9M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.882	−0.024%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0055%	4h	92.919	+0.016%	$145K	$674K	20x	as long as short
Bullet HYPE-USD	−0.0007%	1h	92.906	+0.002%	$112K	$577K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.925	+0.023%	$127K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.935	+0.033%	$22K	$292K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.949	+0.048%	$62K	—	150x	as long as short
Ondo Perps HYPE-USD.P	+0.0014%	1h	92.840	−0.069%	$697K	$1.1M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange HYPEUSD	+0.0024%	1h	92.976	+0.077%	$87K	$364K	20x	as long as short
Phoenix HYPE	+0.0026%	1h	92.923	+0.020%	$208K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0031%	8h	92.893	−0.012%	$316.0M	$283.0M	75x	as long as short
Bitget HYPEUSDT	+0.0042%	4h	92.900	−0.004%	$224.9M	$99.0M	75x	as long as short
Phemex HYPEUSDT	+0.0045%	8h	92.942	+0.041%	$12.6M	$2.7M	50x	as long as short
Popdex HYPEUSDT	+0.0048%	1h	92.944	+0.043%	$76K	$1.1M	50x	as long as short
Gate HYPE_USDT	+0.0078%	4h	92.903	−0.001%	$45.2M	$54.5M	75x	as long as short
edgeX HYPEUSDC	+0.0093%	4h	92.807	−0.104%	$4.9M	$29.6M	30x	as long as short
Lighter HYPE	+0.0096%	1h	92.936	+0.035%	$16.0M	$62.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.943	+0.042%	$3.1M	$11.6M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0098%	8h	92.944	+0.043%	$339K	$162K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.900	−0.004%	$39K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.951	+0.051%	$7.4M	$46.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.962	+0.062%	$2.02B	$667.8M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	92.921	+0.018%	$8.7M	$36.2M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	92.958	+0.058%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.920	+0.017%	$373.9M	$906.8M	75x	as long as short
OKX HYPE-USDT-SWAPlong	+0.0100%	8h	92.904	long leg	$113.9M	$304.5M	50x
Bulk HYPE-USD	+0.0100%	1h	92.709	−0.210%	$202K	$13K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.921	+0.018%	$91.3M	$81.2M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.918	+0.015%	$46.2M	$18.5M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	92.903	−0.001%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.983	+0.085%	$7.3M	$11.2M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.839	−0.070%	$28.5M	$57.2M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.866	−0.041%	$7.5M	$46.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.884	−0.022%	$341K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.846	−0.062%	$668K	$2.9M	20x	as long as short
Vest HYPE-PERPshort	+0.0100%	1h	92.972	+0.073%	—	$243K	5x
Polymarket Perps HYPE-USD	+0.0100%	1h	92.962	+0.062%	$487K	$2.7M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.925	+0.023%	$79K	$166K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.908	+0.004%	$16.0M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.940	+0.039%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.944	+0.043%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.092	+0.202%	$1.4M	$6.3M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.875	−0.032%	$18.0M	$43.6M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.931	+0.029%	$393K	$164K	20x	as long as short
Kalshi KXHYPEPERP	+0.0128%	8h	92.988	+0.090%	$1.8M	$5.4M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.060	+0.168%	$4.7M	$5.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0197%	1h	93.019	+0.124%	$20.7M	$29.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0242%	1h	93.150	+0.265%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0266%	1h	92.922	+0.019%	$79K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.936	+0.035%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.937	+0.036%	$16.8M	$11.8M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0417%	1h	93.021	+0.126%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0598%	1h	92.975	+0.076%	$3.2M	$6.3M	20x	as long as short