Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.041%

Price spread now: HTX against StandX+0.159%7-day average +0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$290.293% of the position

Long on StandX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.041%+$4 on $10k

Price spread, last 4 days (all we have)−0.225%−$22 · spread now +0.159%, 7d avg +0.048%

Together, before fees−0.183%+ Points / potential airdropStandX: Active · farm board−$18 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: HTX is 0.111% dearer against StandX than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of +0.048%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	StandX HYPE-USD	94.157	0.0100	pay 0.0013% / 1h	57m 40s	$681K	$2.7M	20x
Short	HTX HYPE-USDT	94.307	0.0100	get 0.0050% / 4h	57m 40s	$1.4M	$6.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.159%Rate

Funding earned: $0
Price spread: +0.159% → +0.048%: $11.1
Slippage, 4 orders: −$9.27
Fee StandX: 4 bp × 2 orders: −$8
Fee HTX: 6 bp × 2 orders: −$12
Net: −$18.17
Costs to cover: 0.293%
Break-even: never at this rate

Slippage from StandX: live order book, 1 min ago; HTX: 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	1.33 bp	5.3 bp −$5	5.6 bp −$56	13.0 bp −$1,298	doesn't fit
Sell HTX live order book, 1 min ago	0.58 bp	9.4 bp −$9	15.1 bp −$151	62.4 bp −$6,240	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	−0.1096%	1h	94.080	−0.081%	$201K	$235K	7x	as long as short
Bluefin HYPE-PERP	−0.0467%	1h	94.128	−0.031%	$79K	$155K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0331%	1h	94.050	−0.114%	$709K	$1.2M	10x	as long as short
Bullet HYPE-USD	−0.0326%	1h	94.152	−0.005%	$111K	$576K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0169%	1h	94.212	+0.059%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0152%	1h	94.089	−0.072%	$86K	$366K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.131	−0.028%	$3K	$331	25x	as long as short
Arcus HYPE-USD	−0.0045%	1h	94.099	−0.062%	$1.0M	$3.6M	10x	as long as short
Derive HYPE-PERP	−0.0039%	1h	94.084	−0.077%	$16.4M	$7.5M	10x	as long as short
Bybit HYPEUSDT	−0.0011%	8h	94.070	−0.092%	$316.9M	$289.7M	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	−0.0008%	4h	94.131	−0.028%	$146K	$685K	20x	as long as short
BingX HYPE-USDT	−0.0006%	4h	94.076	−0.086%	—	$53.5M	—	as long as short
dYdX HYPE-USD	0.0000%	1h	94.176	+0.020%	$129K	$26K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.212	+0.058%	$1.8M	$5.6M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.157	0.000%	$19K	$287K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.195	+0.040%	$117K	—	150x	as long as short
Phoenix HYPE	+0.0017%	1h	94.254	+0.103%	$208K	$1.1M	10x	as long as short
Lighter HYPE	+0.0032%	1h	94.143	−0.015%	$16.3M	$63.8M	20x	as long as short
Bitget HYPEUSDT	+0.0040%	4h	94.080	−0.082%	$226.3M	$100.0M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0059%	8h	94.122	−0.037%	$336K	$156K	20x	as long as short
Phemex HYPEUSDT	+0.0060%	8h	94.143	−0.015%	$12.8M	$2.9M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0064%	1h	94.210	+0.056%	$4.7M	$6.2M	50x	as long as short
edgeX HYPEUSDC	+0.0087%	4h	94.094	−0.067%	$5.0M	$30.6M	30x	as long as short
Polymarket Perps HYPE-USD	+0.0088%	1h	94.156	−0.001%	$495K	$2.8M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0089%	8h	94.089	−0.072%	$117.4M	$322.2M	50x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.105	−0.055%	$3.2M	$10.6M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.078	−0.084%	$79K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.120	−0.039%	$17K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.139	−0.019%	$7.3M	$50.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.243	+0.092%	$2.07B	$689.2M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.093	−0.068%	$8.8M	$37.2M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.135	−0.023%	$10.1M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.077	−0.085%	$376.4M	$933.2M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.065	−0.098%	$217K	$12K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.101	−0.059%	$49.5M	$55.9M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.101	−0.059%	$90.9M	$81.7M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.094	−0.067%	$46.8M	$18.6M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.143	−0.015%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.059	−0.105%	$29.1M	$55.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.167	+0.011%	$7.6M	$46.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.120	−0.039%	$362K	$1.0M	50x	as long as short
StandX HYPE-USDlong	+0.0100%	1h	94.157	long leg	$681K	$2.7M	20x
Vest HYPE-PERP	+0.0100%	1h	94.182	+0.027%	—	$243K	5x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.216	+0.063%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.164	+0.007%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDTshort	+0.0100%	4h	94.307	+0.159%	$1.4M	$6.8M	75x
Extended HYPE-USD	+0.0104%	1h	94.050	−0.113%	$18.3M	$43.4M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.158	+0.001%	$398K	$159K	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0151% / S +0.0021%	1h	94.194	+0.039%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0185%	1h	94.550	+0.417%	$31K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0223%	1h	94.224	+0.071%	$20.2M	$30.3M	50x	as long as short
RISEx HYPE/USDC	+0.0249%	1h	94.174	+0.018%	$3.2M	$6.4M	20x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.125	−0.034%	$82K	$134K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0281%	1h	94.260	+0.109%	$7.4M	$4.3M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.136	−0.022%	$17.0M	$12.4M	75x	as long as short