Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.008%

Price spread now: MEXC against SoDEX0.000%7-day average +0.008% · 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−$19as in the Price arb table

costs, in and out, $10k−$180.182% of the position

Long on SoDEX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.008%−$1 on $10k

Price spread, last 3 days (all we have)+0.016%+$2 · spread now 0.000%, 7d avg +0.008%

Together, before fees+0.007%+$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.008%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX HYPE-USD	94.088	0.0100	pay 0.0013% / 1h	24m 06s	$2.0M	$2.0M	10x
Short	MEXC HYPE_USDT	94.088	0.0050	get 0.0025% / 4h	3h 24m	$89.2M	$82.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against SoDEX. 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 SoDEXbpFee MEXCbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$10.5
Price spread: 0.000% → +0.008%: −$0.84
Slippage, 4 orders: −$6.23
Fee SoDEX: 4 bp × 2 orders: −$8
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$29.57
Costs to cover: 0.182%
Break-even: never at this rate

Slippage from SoDEX: live order book, 5 min ago; MEXC: 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 SoDEX live order book, 5 min ago	0.05 bp	7.6 bp −$8	11.8 bp −$118	102.5 bp −$10.3K	doesn't fit
Sell MEXC live order book, 5 min ago	0.05 bp	2.1 bp −$2	2.3 bp −$23	12.1 bp −$1,213	35.4 bp −$17.7K

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	−0.1360%	1h	94.084	−0.005%	$199K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0625%	1h	94.026	−0.066%	$1.2M	$3.8M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0220%	1h	94.161	+0.078%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0146%	1h	94.090	+0.002%	$711K	$959K	10x	as long as short
dYdX HYPE-USD	−0.0127%	1h	94.123	+0.038%	$129K	$31K	5x	as long as short
Bullet HYPE-USD	−0.0111%	1h	94.097	+0.010%	$113K	$580K	20x	as long as short
Phemex HYPEUSDT	−0.0105%	8h	94.095	+0.007%	$12.8M	$2.6M	50x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	94.104	+0.017%	$86K	$360K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.136	+0.051%	$3K	$331	25x	as long as short
Bybit HYPEUSDT	−0.0023%	8h	94.070	−0.019%	$323.1M	$280.4M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_HYPE_USDC	−0.0019%	4h	94.077	−0.012%	$160K	$645K	20x	as long as short
Gate HYPE_USDT	−0.0002%	4h	94.108	+0.021%	$44.5M	$59.8M	75x	as long as short
Perpl HYPE	0.0000%	43m	94.152	+0.068%	$23K	$327K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	94.129	+0.044%	$27K	—	150x	as long as short
Aster HYPEUSDT	+0.0021%	4h	94.132	+0.047%	$8.9M	$36.1M	300x	as long as short
Phoenix HYPE	+0.0034%	1h	94.222	+0.142%	$219K	$1.2M	10x	as long as short
Derive HYPE-PERP	+0.0040%	1h	94.058	−0.032%	$16.4M	$7.3M	10x	as long as short
MEXC HYPE_USDTshort	+0.0050%	4h	94.088	0.000%	$89.2M	$82.7M	100x
Binance HYPEUSDT	+0.0053%	4h	94.096	+0.009%	$383.8M	$893.3M	75x	as long as short
edgeX HYPEUSDC	+0.0057%	4h	94.108	+0.021%	$5.1M	$29.9M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0078%	8h	94.075	−0.014%	$116.1M	$318.4M	50x	as long as short
Lighter HYPE	+0.0096%	1h	94.123	+0.037%	$19.2M	$59.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.107	+0.020%	$3.0M	$12.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.098	+0.011%	$66K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	94.093	+0.005%	$400K	$180K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	94.153	+0.069%	$342K	$165K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.100	+0.013%	$24K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.097	+0.010%	$6.6M	$44.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.212	+0.132%	$2.05B	$671.7M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.144	+0.060%	$10.2M	$14.6M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.125	+0.039%	$46.6M	$18.1M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	94.087	−0.001%	$228.1M	$100.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.078	−0.011%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.096	+0.009%	$7.7M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.149	+0.065%	$31.5M	$54.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.151	+0.067%	$7.6M	$46.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.088	0.000%	$340K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.161	+0.078%	$681K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.162	+0.079%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.135	+0.050%	$480K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	94.096	+0.009%	$76K	$171K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.182	+0.100%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USDlong	+0.0100%	1h	94.088	long leg	$2.0M	$2.0M	10x
Bulk HYPE-USD	+0.0100%	1h	94.151	+0.067%	$205K	$2K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.077	−0.011%	$18.8M	$44.4M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	94.190	+0.108%	$4.9M	$5.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.490	+0.427%	$31K	$338K	12x	as long as short
BloFin HYPE-USDT	+0.0206%	4h	94.153	+0.069%	$17.1M	$12.2M	75x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	94.146	+0.062%	$2.8M	$6.8M	20x	as long as short
Kalshi KXHYPEPERP	+0.0228%	8h	94.196	+0.115%	$1.9M	$5.1M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0251%	1h	94.101	+0.013%	$79K	$142K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0324%	1h	94.189	+0.107%	$7.5M	$4.6M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0333% / S −0.0155%	1h	94.130	+0.044%	$1.4M	—	100x	as long as short
HTX HYPE-USDT	+0.0401%	4h	94.293	+0.218%	$1.5M	$6.2M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0670%	1h	94.177	+0.094%	$21.0M	$29.7M	50x	as long as short