Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0414%/8hpaid last 24h +0.016%

Price spread now: RISEx against Paradex+0.011%7-day average +0.001% · 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−$13as in the Price arb table

costs, in and out, $10k−$140.138% of the position

Long on Paradex Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.090%+$9 on $10k

Price spread, last 3 days (all we have)+0.041%+$4 · spread now +0.011%, 7d avg +0.001%

Together, before fees+0.130%+ Points / potential airdropParadex: Active · farm board+$13 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.001%, so right now this pair is about funding alone: +$12 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.090% in total (about 10.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex HYPE-USD-PERP	93.296	0.0102	pay 0.0102% / 8h	4h 22m	$341K	$173K	20x
Short	RISEx HYPE/USDC	93.307	0.0516	get 0.0064% / 1h	22m 58s	$2.7M	$6.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against Paradex. 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 ParadexbpFee RISExbpOrdersPrice spread, now +0.011%Rate

Funding earned: $86.85
Price spread: +0.011% → +0.001%: $1.04
Slippage, 4 orders: −$3.76
Fee Paradex: 2 bp × 2 orders: −$4
Fee RISEx: 3 bp × 2 orders: −$6
Net: $74.14
Costs to cover: 0.138%
Break-even: 1.0 days

Slippage from Paradex: live order book, 10 min ago; RISEx: 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 Paradex live order book, 10 min ago	1.29 bp	3.3 bp −$3	8.6 bp −$86	doesn't fit	doesn't fit
Sell RISEx live order book, 5 min ago	0.59 bp	3.6 bp −$4	5.4 bp −$54	doesn't fit	doesn't fit

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	−0.1008%	1h	93.236	−0.065%	$196K	$245K	7x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.258	−0.041%	$3K	$331	25x	as long as short
Injective HYPE/USDC PERP	−0.0004%	1h	93.440	+0.154%	$30K	$177K	12x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.286	−0.012%	$127K	$28K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.339	+0.046%	$2.0M	$5.5M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.268	−0.031%	$25K	$396K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0006%	1h	93.339	+0.046%	$43K	—	150x	as long as short
Aftermath Perps HYPEUSD	+0.0026%	1h	93.197	−0.106%	$22K	$22K	10x	as long as short
Aster HYPEUSDT	+0.0029%	4h	93.252	−0.047%	$9.0M	$36.2M	300x	as long as short
01 Exchange HYPEUSD	+0.0048%	1h	93.253	−0.047%	$90K	$322K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus HYPE-USD	+0.0082%	1h	93.238	−0.063%	$1.2M	$4.0M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.333	+0.040%	$18.8M	$58.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.313	+0.018%	$3.2M	$12.2M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.259	−0.040%	$56K	$1.3M	50x	as long as short
Gate HYPE_USDT	+0.0096%	4h	93.222	−0.080%	$44.1M	$55.8M	75x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.260	−0.039%	$21K	$1.8M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.239	−0.062%	$6.3M	$43.7M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.250	−0.050%	$10.0M	$14.3M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.277	−0.021%	$389.9M	$871.7M	75x	as long as short
Bybit HYPEUSDT	+0.0100%	8h	93.250	−0.050%	$325.3M	$288.4M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.259	−0.040%	$114.5M	$313.4M	50x	as long as short
Ondo Perps HYPE-USD.P	+0.0100%	1h	93.260	−0.039%	$700K	$1.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.008	−0.309%	$204K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.293	−0.004%	$90.9M	$82.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.273	−0.025%	$46.4M	$19.8M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.284	−0.013%	$226.2M	$103.8M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.272	−0.026%	—	$54.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.303	+0.007%	$8.0M	$11.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.155	−0.152%	$28.9M	$48.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.334	+0.040%	$7.5M	$46.3M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.263	−0.036%	$459K	$967K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.346	+0.053%	$676K	$2.3M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.282	−0.016%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.264	−0.035%	$468K	$2.6M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	93.297	0.000%	$112K	$572K	20x	as long as short
Orderly PERP_HYPE_USDC	+0.0100%	4h	93.288	−0.009%	$184K	$502K	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.306	+0.010%	$76K	$172K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.285	−0.012%	$16.4M	$7.0M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.294	−0.003%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.278	−0.020%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.283	−0.014%	$12.6M	$2.5M	50x	as long as short
Paradex HYPE-USD-PERPlong	+0.0102%	8h	93.296	long leg	$341K	$173K	20x
Extended HYPE-USD	+0.0104%	1h	93.278	−0.020%	$18.1M	$40.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.308	+0.013%	$397K	$321K	20x	as long as short
edgeX HYPEUSDC	+0.0107%	4h	93.261	−0.038%	$5.1M	$29.0M	30x	as long as short
Hyperliquid HYPE	+0.0138%	1h	93.327	+0.033%	$2.02B	$657.6M	10x	as long as short
Kraken Futures PF_HYPEUSD	+0.0151%	1h	93.345	+0.052%	$16.2M	$21.0M	50x	as long as short
Phoenix HYPE	+0.0172%	1h	93.271	−0.027%	$207K	$954K	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0200%	1h	93.370	+0.079%	$4.9M	$5.6M	50x	as long as short
Reya HYPERUSDPERP	+0.0241%	1h	93.276	−0.022%	$77K	$157K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0165%	1h	93.293	−0.004%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.273	−0.025%	$17.4M	$12.1M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0404%	1h	93.387	+0.097%	$7.4M	$4.6M	50x	as long as short
HTX HYPE-USDT	+0.0415%	4h	93.477	+0.193%	$1.5M	$7.5M	75x	as long as short
RISEx HYPE/USDCshort	+0.0516%	1h	93.307	+0.011%	$2.7M	$6.4M	20x