Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0180%/8h= −19.7% APRpaid last 24h −0.031%

Price spread now: Gate against StandX−0.144%49s7-day average −0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$340.339% of the position

Long on StandX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.091%−$9 on $10k

Price spread, last 7 days+0.161%+$16 · spread now −0.144%, 7d avg −0.014%

Together, before fees+0.070%+ Points / potential airdropStandX: Active · farm board+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Gate is 0.131% cheaper against StandX than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.014%). Swap the legs. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	StandX HYPE-USD	93.508	0.0100	pay 0.0013% / 1h	47m 37s	$667K	$2.6M	20x
Short	Gate HYPE_USDT	93.373	−0.0080	pay 0.0040% / 4h	2h 47m	$44.3M	$53.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.144%Rate

Funding earned: −$37.8
Price spread: −0.144% → −0.014%: −$13.06
Slippage, 4 orders: −$10.93
Fee StandX: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$84.79
Costs to cover: 0.339%
Break-even: never at this rate

Slippage from StandX: live order book, 1 min ago; Gate: live order book, 1 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, 1 min ago	1.39 bp	5.4 bp −$5	5.6 bp −$56	21.2 bp −$2,121	doesn't fit
Sell Gate live order book, 1 min ago	0.80 bp	12.9 bp −$13	17.2 bp −$172	32.8 bp −$3,278	52.5 bp −$26.2K

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	−0.1064%	1h	93.383	−0.133%	$197K	$229K	7x	as long as short
Arcus HYPE-USD	−0.0786%	1h	93.276	−0.248%	$1.2M	$3.9M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0180%	1h	93.379	−0.138%	$22K	$21K	10x	as long as short
Backpack HYPE_USDC_PERP	−0.0133%	1h	93.339	−0.181%	$7.8M	$10.6M	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0112%	1h	93.340	−0.180%	$699K	$978K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.377	−0.140%	$3K	$331	25x	as long as short
Gate HYPE_USDTshort	−0.0080%	4h	93.373	−0.144%	$44.3M	$53.8M	75x
01 Exchange HYPEUSD	−0.0072%	1h	93.404	−0.111%	$85K	$361K	20x	as long as short
Phemex HYPEUSDT	−0.0057%	8h	93.340	−0.180%	$12.7M	$2.7M	50x	as long as short
Orderly PERP_HYPE_USDC	−0.0050%	4h	93.324	−0.197%	$158K	$646K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	−0.0025%	4h	93.387	−0.129%	$8.9M	$36.2M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.427	−0.087%	$128K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.368	−0.150%	$22K	$333K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.387	−0.130%	$26K	—	150x	as long as short
BingX HYPE-USDT	+0.0014%	4h	93.384	−0.133%	—	$54.2M	—	as long as short
Bybit HYPEUSDT	+0.0018%	8h	93.372	−0.145%	$319.4M	$283.0M	75x	as long as short
Binance HYPEUSDT	+0.0044%	4h	93.385	−0.132%	$380.7M	$904.9M	75x	as long as short
Bullet HYPE-USD	+0.0045%	1h	93.363	−0.155%	$111K	$579K	20x	as long as short
MEXC HYPE_USDT	+0.0046%	4h	93.386	−0.130%	$88.3M	$82.2M	100x	as long as short
Bluefin HYPE-PERP	+0.0048%	1h	93.343	−0.176%	$79K	$174K	20x	as long as short
Derive HYPE-PERP	+0.0058%	1h	93.336	−0.183%	$16.2M	$7.6M	10x	as long as short
Phoenix HYPE	+0.0060%	1h	93.190	−0.340%	$212K	$1.2M	10x	as long as short
edgeX HYPEUSDC	+0.0062%	4h	93.437	−0.076%	$5.1M	$29.9M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0065%	8h	93.376	−0.141%	$115.1M	$315.6M	50x	as long as short
Aevo HYPE-PERP	+0.0088%	1h	93.354	−0.165%	$397K	$177K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.368	−0.150%	$16.4M	$62.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.391	−0.125%	$3.1M	$11.8M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.407	−0.108%	$64K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.406	−0.110%	$339K	$165K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.420	−0.094%	$37K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.356	−0.163%	$6.6M	$44.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.478	−0.032%	$2.04B	$673.9M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.385	−0.132%	$10.0M	$14.7M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.404	−0.112%	$203K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.359	−0.159%	$46.0M	$18.4M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.391	−0.125%	$226.1M	$100.7M	75x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.281	−0.243%	$30.9M	$55.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.420	−0.094%	$7.5M	$47.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.460	−0.051%	$338K	$1.1M	50x	as long as short
StandX HYPE-USDlong	+0.0100%	1h	93.508	long leg	$667K	$2.6M	20x
Vest HYPE-PERP	+0.0100%	1h	93.410	−0.105%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.362	−0.156%	$467K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.424	−0.090%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.363	−0.155%	$2.0M	$2.0M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.371	−0.146%	$18.4M	$44.4M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0136%	1h	93.410	−0.105%	$4.9M	$5.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0137%	1h	93.440	−0.073%	$30K	$338K	12x	as long as short
BloFin HYPE-USDT	+0.0175%	4h	93.407	−0.108%	$17.0M	$12.1M	75x	as long as short
RISEx HYPE/USDC	+0.0210%	1h	93.452	−0.060%	$2.7M	$6.7M	20x	as long as short
Reya HYPERUSDPERP	+0.0253%	1h	93.298	−0.225%	$79K	$142K	15x	as long as short
Kalshi KXHYPEPERP	+0.0258%	8h	93.427	−0.087%	$1.9M	$5.2M	2.3x	as long as short
HTX HYPE-USDT	+0.0264%	4h	93.500	−0.009%	$1.4M	$6.1M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0334% / S −0.0158%	1h	93.380	−0.137%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0510%	1h	93.476	−0.034%	$7.5M	$4.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0682%	1h	93.456	−0.055%	$20.8M	$29.9M	50x	as long as short