Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0089%/8h= −9.7% APRpaid last 24h −0.019%

Price spread now: Bybit against StandX−0.133%7-day average −0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$260.261% of the position

Long on StandX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.069%−$7 on $10k

Price spread, last 7 days+0.151%+$15 · spread now −0.133%, 7d avg −0.018%

Together, before fees+0.083%+ Points / potential airdropStandX: Active · farm board+$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Bybit is 0.115% cheaper against StandX than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.018%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	StandX HYPE-USD	93.114	0.0100	pay 0.0013% / 1h	57m 15s	$664K	$2.6M	20x
Short	Bybit HYPEUSDT	92.990	0.0011	get 0.0011% / 8h	5h 57m	$319.1M	$275.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.133%Rate

Funding earned: −$18.64
Price spread: −0.133% → −0.018%: −$11.47
Slippage, 4 orders: −$7.11
Fee StandX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$56.21
Costs to cover: 0.261%
Break-even: never at this rate

Slippage from StandX: live order book, 2 min ago; Bybit: live order book, 2 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, 2 min ago	1.67 bp	7.3 bp −$7	9.7 bp −$97	15.9 bp −$1,588	doesn't fit
Sell Bybit live order book, 2 min ago	0.54 bp	6.0 bp −$6	10.0 bp −$100	16.7 bp −$1,665	33.9 bp −$17.0K

HYPE on 54 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	−0.1136%	1h	93.001	−0.121%	$195K	$226K	7x	as long as short
Arcus HYPE-USD	−0.0899%	1h	92.871	−0.261%	$1.2M	$3.8M	10x	as long as short
Bluefin HYPE-PERP	−0.0443%	1h	92.909	−0.220%	$79K	$170K	20x	as long as short
Bullet HYPE-USD	−0.0165%	1h	92.952	−0.174%	$111K	$578K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0158%	1h	92.970	−0.155%	$698K	$905K	10x	as long as short
01 Exchange HYPEUSD	−0.0112%	1h	93.002	−0.120%	$84K	$346K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.198	+0.090%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0051%	4h	92.922	−0.206%	$155K	$639K	20x	as long as short
Phemex HYPEUSDT	−0.0015%	8h	93.013	−0.108%	$12.6M	$2.7M	50x	as long as short
Aster HYPEUSDT	−0.0005%	4h	92.992	−0.131%	$8.8M	$35.4M	300x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX HYPE-USD	0.0000%	1h	93.017	−0.105%	$128K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.994	−0.128%	$22K	$321K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	92.969	−0.155%	$25K	—	150x	as long as short
BingX HYPE-USDT	+0.0011%	4h	93.014	−0.107%	—	$53.2M	—	as long as short
Bybit HYPEUSDTshort	+0.0011%	8h	92.990	−0.133%	$319.1M	$275.1M	75x
Aftermath Perps HYPEUSD	+0.0013%	1h	93.273	+0.171%	$22K	$21K	10x	as long as short
Gate HYPE_USDT	+0.0018%	4h	92.996	−0.127%	$44.3M	$54.1M	75x	as long as short
Phoenix HYPE	+0.0060%	1h	93.056	−0.062%	$210K	$1.2M	10x	as long as short
OKX HYPE-USDT-SWAP	+0.0077%	8h	93.008	−0.114%	$114.0M	$300.0M	50x	as long as short
Binance HYPEUSDT	+0.0077%	4h	93.013	−0.108%	$378.2M	$873.7M	75x	as long as short
MEXC HYPE_USDT	+0.0078%	4h	93.001	−0.121%	$87.6M	$79.8M	100x	as long as short
edgeX HYPEUSDC	+0.0083%	4h	93.256	+0.152%	$5.0M	$30.1M	30x	as long as short
Lighter HYPE	+0.0096%	1h	92.996	−0.126%	$16.3M	$61.3M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.005	−0.117%	$3.1M	$11.5M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.997	−0.126%	$67K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.036	−0.084%	$338K	$162K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.030	−0.090%	$12K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.987	−0.137%	$5.7M	$43.5M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.091	−0.025%	$2.03B	$659.0M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.011	−0.111%	$10.0M	$14.6M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.335	+0.237%	$203K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.976	−0.148%	$46.0M	$18.0M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.013	−0.108%	$225.1M	$96.8M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.982	−0.142%	$7.3M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.219	+0.112%	$31.1M	$54.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.215	+0.109%	$7.5M	$46.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.222	+0.116%	$337K	$1.0M	50x	as long as short
StandX HYPE-USDlong	+0.0100%	1h	93.114	long leg	$664K	$2.6M	20x
Vest HYPE-PERP	+0.0100%	1h	93.057	−0.061%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.001	−0.121%	$473K	$2.4M	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.929	−0.198%	$16.1M	$7.6M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.050	−0.069%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.956	−0.170%	$2.0M	$1.9M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.924	−0.204%	$18.3M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.939	−0.188%	$395K	$170K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.070	−0.047%	$4.9M	$5.4M	50x	as long as short
HTX HYPE-USDT	+0.0210%	4h	93.150	+0.039%	$1.4M	$5.9M	75x	as long as short
Reya HYPERUSDPERP	+0.0256%	1h	92.952	−0.174%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0276%	8h	93.031	−0.089%	$1.9M	$4.8M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0156%	1h	92.978	−0.146%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0352%	1h	93.043	−0.076%	$7.4M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0510%	1h	93.079	−0.038%	$3.2M	$6.7M	20x	as long as short
Injective HYPE/USDC PERP	+0.0519%	1h	92.900	−0.230%	$30K	$338K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0688%	1h	93.030	−0.090%	$20.7M	$29.9M	50x	as long as short