Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0051%/8h= −5.6% APRpaid last 24h −0.025%

Price spread now: 01 Exchange against OKX+0.020%7-day average +0.044% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$280.284% of the position

Long on OKX Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.030%−$3 on $10k

Price spread, last 4 days (all we have)+0.061%+$6 · spread now +0.020%, 7d avg +0.044%

Together, before fees+0.032%+$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and 01 Exchange is 0.024% cheaper against OKX than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.044%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX HYPE-USDT-SWAP	94.938	−0.0045	get 0.0045% / 8h	4h 45m	$118.9M	$304.9M	50x
Short	01 Exchange HYPEUSD	94.957	−0.0096	pay 0.0012% / 1h	45m 30s	$102K	$352K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now +0.020%Rate

Funding earned: −$10.68
Price spread: +0.020% → +0.044%: −$2.37
Slippage, 4 orders: −$11.36
Fee OKX: 5 bp × 2 orders: −$10
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$41.41
Costs to cover: 0.284%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; 01 Exchange: live order book, 62 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, 2 min ago	0.05 bp	6.3 bp −$6	9.1 bp −$91	18.6 bp −$1,857	doesn't fit
Sell 01 Exchange live order book, 62 min ago	0.05 bp	6.9 bp −$7	12.7 bp −$127	doesn't fit	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	−0.0282%	1h	94.812	−0.133%	$18.2M	$32.3M	50x	as long as short
ApeX Omni HYPEUSDT	−0.0262%	1h	94.636	−0.318%	$322K	$924K	50x	as long as short
Phemex HYPEUSDT	−0.0243%	8h	94.762	−0.185%	$12.9M	$2.2M	50x	as long as short
Bluefin HYPE-PERP	−0.0231%	1h	94.750	−0.198%	$79K	$131K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0196%	1h	94.750	−0.198%	$676K	$1.3M	10x	as long as short
Aster HYPEUSDT	−0.0103%	4h	94.933	−0.005%	$9.0M	$34.6M	300x	as long as short
01 Exchange HYPEUSDshort	−0.0096%	1h	94.957	+0.020%	$102K	$352K	20x
Lighter HYPE	−0.0080%	1h	94.851	−0.092%	$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
Orderly PERP_HYPE_USDC	−0.0077%	4h	94.747	−0.201%	$147K	$643K	20x	as long as short

Show all 55 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate HYPE_USDT	−0.0072%	4h	94.868	−0.074%	$56.0M	$52.7M	75x	as long as short
Coinbase International HYPE-PERP-INTX	−0.0064%	1h	94.790	−0.156%	$4.7M	$5.4M	50x	as long as short
OKX HYPE-USDT-SWAPlong	−0.0045%	8h	94.938	long leg	$118.9M	$304.9M	50x
Aftermath Perps HYPEUSD	−0.0033%	1h	94.912	−0.027%	$22K	$17K	10x	as long as short
Bitget HYPEUSDT	−0.0030%	4h	94.961	+0.024%	$230.0M	$86.0M	75x	as long as short
Phoenix HYPE	−0.0017%	1h	95.001	+0.066%	$200K	$1.1M	10x	as long as short
Derive HYPE-PERP	−0.0011%	1h	94.713	−0.237%	$16.3M	$7.0M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.846	−0.097%	$128K	$96K	5x	as long as short
Perpl HYPE	0.0000%	43m	94.846	−0.097%	$24K	$249K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	94.809	−0.136%	$99K	—	150x	as long as short
Bullet HYPE-USD	+0.0007%	1h	94.805	−0.140%	$113K	$585K	20x	as long as short
edgeX HYPEUSDC	+0.0027%	4h	94.624	−0.331%	$5.0M	$28.1M	30x	as long as short
MEXC HYPE_USDT	+0.0028%	4h	94.868	−0.074%	$88.4M	$82.8M	100x	as long as short
Binance HYPEUSDT	+0.0029%	4h	94.940	+0.002%	$382.3M	$852.5M	75x	as long as short
Bybit HYPEUSDT	+0.0029%	8h	94.950	+0.013%	$320.6M	$263.2M	75x	as long as short
BingX HYPE-USDT	+0.0034%	4h	94.861	−0.081%	—	$50.3M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0037%	1h	94.784	−0.162%	$6.8M	$12.3M	20x	as long as short
Lighter RH HYPE	+0.0040%	1h	94.857	−0.085%	$3.2M	$9.9M	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0056%	1h	94.857	−0.085%	$7.5M	$4.2M	50x	as long as short
SoDEX HYPE-USD	+0.0063%	1h	94.793	−0.153%	$2.1M	$335K	10x	as long as short
Popdex HYPEUSDT	+0.0072%	1h	94.937	−0.001%	$273K	$1.0M	50x	as long as short
KuCoin HYPEUSDTM	+0.0082%	4h	94.847	−0.096%	$47.4M	$17.8M	75x	as long as short
Aevo HYPE-PERP	+0.0088%	1h	94.772	−0.175%	$401K	$125K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0092%	8h	94.881	−0.060%	$339K	$31K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	94.850	−0.093%	$39K	$1.5M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.945	+0.007%	$7.2M	$50.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.957	+0.020%	$2.10B	$643.7M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.906	−0.034%	$10.2M	$12.8M	20x	as long as short
Arcus HYPE-USD	+0.0100%	1h	94.880	−0.061%	$1.0M	$2.8M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	95.036	+0.103%	$228K	$20K	10x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.751	−0.197%	$30.0M	$52.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.952	+0.015%	$7.7M	$41.3M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.936	−0.002%	$690K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.976	+0.040%	—	$80K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.976	+0.040%	$491K	$2.4M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.904	−0.036%	$33K	$1.4M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.898	−0.042%	$1.4M	$5.3M	75x	as long as short
BloFin HYPE-USDT	+0.0104%	4h	94.920	−0.019%	$17.5M	$11.6M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.836	−0.108%	$18.1M	$37.6M	50x	as long as short
Kalshi KXHYPEPERP	+0.0119%	8h	94.855	−0.087%	$1.8M	$5.1M	2.3x	as long as short
RISEx HYPE/USDC	+0.0138%	1h	94.906	−0.034%	$3.1M	$5.2M	20x	as long as short
Reya HYPERUSDPERP	+0.0268%	1h	94.937	−0.001%	$85K	$90K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0155%	1h	94.828	−0.116%	$1.4M	—	100x	as long as short
Hibachi HYPE/USDT-P	+0.1032%	1h	95.107	+0.178%	$218K	$288K	7x	as long as short
Injective HYPE/USDC PERP	+0.1234%	1h	95.420	+0.508%	$31K	$334K	12x	as long as short