Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.001%

Price spread now: Bulk against StandX+0.028%7-day average +0.033% · 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−$20as in the Price arb table

costs, in and out, $10k−$190.194% of the position

Long on StandX Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.001%$0 on $10k

Price spread, last 4 days (all we have)+0.179%+$18 · spread now +0.028%, 7d avg +0.033%

Together, before fees+0.181%+ Points / potential airdropStandX: Active · farm board+$18 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	StandX HYPE-USD	93.206	0.0100	pay 0.0013% / 1h	14m 21s	$674K	$2.5M	20x
Short	Bulk HYPE-USD	93.232	0.0100	get 0.0013% / 1h	14m 21s	$204K	$8K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against StandX. 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 StandXbpFee BulkbpOrdersPrice spread, now +0.028%Rate

Funding earned: $0
Price spread: +0.028% → +0.033%: −$0.44
Slippage, 4 orders: −$4.39
Fee StandX: 4 bp × 2 orders: −$8
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$19.83
Costs to cover: 0.194%
Break-even: never at this rate

Slippage from StandX: live order book, 4 min ago; Bulk: 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 StandX live order book, 4 min ago	1.29 bp	5.3 bp −$5	5.5 bp −$55	11.6 bp −$1,159	doesn't fit
Sell Bulk live order book, 5 min ago	0.54 bp	4.0 bp −$4	6.5 bp −$65	14.7 bp −$1,471	41.1 bp −$20.6K

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
Aftermath Perps HYPEUSD	−0.0441%	1h	93.211	+0.006%	$22K	$22K	10x	as long as short
Hibachi HYPE/USDT-P	−0.0352%	1h	93.222	+0.018%	$197K	$230K	7x	as long as short
Arcus HYPE-USD	−0.0131%	1h	93.205	−0.001%	$1.2M	$4.0M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0123%	1h	93.210	+0.004%	$699K	$932K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.272	+0.071%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0032%	1h	93.292	+0.092%	$90K	$361K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.278	+0.077%	$127K	$32K	5x	as long as short
Popdex HYPEUSDT	0.0000%	1h	93.260	+0.058%	$58K	$1.2M	50x	as long as short
Perpl HYPE	0.0000%	43m	93.251	+0.049%	$23K	$330K	10x	as long as short
Aster HYPEUSDT	+0.0001%	4h	93.312	+0.114%	$8.9M	$35.8M	300x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.336	+0.140%	$27K	—	150x	as long as short
Orderly PERP_HYPE_USDC	+0.0020%	4h	93.329	+0.132%	$172K	$517K	20x	as long as short
Bybit HYPEUSDT	+0.0023%	8h	93.306	+0.107%	$323.2M	$285.5M	75x	as long as short
Phoenix HYPE	+0.0034%	1h	93.249	+0.046%	$214K	$1.2M	10x	as long as short
Bullet HYPE-USD	+0.0035%	1h	93.304	+0.105%	$112K	$578K	20x	as long as short
Derive HYPE-PERP	+0.0047%	1h	93.269	+0.067%	$16.3M	$7.0M	10x	as long as short
Gate HYPE_USDT	+0.0064%	4h	93.315	+0.117%	$44.0M	$58.6M	75x	as long as short
MEXC HYPE_USDT	+0.0064%	4h	93.275	+0.074%	$90.2M	$82.3M	100x	as long as short
Binance HYPEUSDT	+0.0065%	4h	93.320	+0.122%	$382.0M	$893.4M	75x	as long as short
edgeX HYPEUSDC	+0.0085%	4h	93.171	−0.037%	$5.1M	$29.7M	30x	as long as short
Lighter HYPE	+0.0096%	1h	93.323	+0.125%	$18.6M	$59.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.317	+0.119%	$3.1M	$12.2M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.331	+0.134%	$397K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.282	+0.081%	$339K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.240	+0.036%	$35K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.255	+0.053%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.294	+0.094%	$2.03B	$669.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.293	+0.093%	$10.0M	$14.4M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.315	+0.117%	$114.2M	$313.9M	50x	as long as short
Bulk HYPE-USDshort	+0.0100%	1h	93.232	+0.028%	$204K	$8K	10x
KuCoin HYPEUSDTM	+0.0100%	4h	93.279	+0.078%	$47.0M	$18.7M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.377	+0.183%	$226.5M	$103.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.295	+0.095%	—	$53.8M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.265	+0.063%	$7.8M	$10.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.203	−0.003%	$29.0M	$50.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.199	−0.008%	$7.5M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.153	−0.057%	$414K	$1.0M	50x	as long as short
StandX HYPE-USDlong	+0.0100%	1h	93.206	long leg	$674K	$2.5M	20x
Vest HYPE-PERP	+0.0100%	1h	93.284	+0.084%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.293	+0.093%	$493K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.336	+0.139%	$76K	$167K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.353	+0.158%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.354	+0.159%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.215	+0.010%	$12.7M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.236	+0.033%	$18.2M	$41.8M	50x	as long as short
Kalshi KXHYPEPERP	+0.0117%	8h	93.294	+0.094%	$1.9M	$5.3M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.310	+0.112%	$4.9M	$5.7M	50x	as long as short
HTX HYPE-USDT	+0.0232%	4h	93.405	+0.214%	$1.5M	$7.7M	75x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	93.140	−0.071%	$30K	$338K	12x	as long as short
Reya HYPERUSDPERP	+0.0247%	1h	93.257	+0.055%	$77K	$159K	15x	as long as short
BloFin HYPE-USDT	+0.0260%	4h	93.211	+0.005%	$16.8M	$12.4M	75x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.325	+0.128%	$2.7M	$6.8M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0165%	1h	93.313	+0.115%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0435%	1h	93.459	+0.271%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0465%	1h	93.364	+0.170%	$20.9M	$29.0M	50x	as long as short