Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.008%

Price spread now: MEXC against StandX−0.085%7-day average +0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

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

Long on StandX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.022%−$2 on $10k

Price spread, last 7 days+0.101%+$10 · spread now −0.085%, 7d avg +0.007%

Together, before fees+0.079%+ Points / potential airdropStandX: Active · farm board+$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and MEXC is 0.092% cheaper against StandX than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.007%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	StandX HYPE-USD	93.802	0.0100	pay 0.0013% / 1h	15m 31s	$669K	$2.6M	20x
Short	MEXC HYPE_USDT	93.722	0.0068	get 0.0034% / 4h	2h 15m	$89.0M	$83.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.085%Rate

Funding earned: −$6.72
Price spread: −0.085% → +0.007%: −$9.21
Slippage, 4 orders: −$7.43
Fee StandX: 4 bp × 2 orders: −$8
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$35.36
Costs to cover: 0.194%
Break-even: never at this rate

Slippage from StandX: live order book, 3 min ago; MEXC: live order book, 4 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, 3 min ago	2.72 bp	7.2 bp −$7	10.4 bp −$104	19.3 bp −$1,929	doesn't fit
Sell MEXC live order book, 4 min ago	0.05 bp	3.1 bp −$3	8.2 bp −$82	13.6 bp −$1,365	38.6 bp −$19.3K

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	−0.1056%	1h	93.599	−0.216%	$197K	$229K	7x	as long as short
Arcus HYPE-USD	−0.0786%	1h	93.612	−0.203%	$1.2M	$3.8M	10x	as long as short
Phemex HYPEUSDT	−0.0124%	8h	93.726	−0.081%	$12.7M	$2.7M	50x	as long as short
Aftermath Perps HYPEUSD	−0.0082%	1h	93.779	−0.025%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.733	−0.074%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0071%	1h	93.650	−0.162%	$701K	$921K	10x	as long as short
Orderly PERP_HYPE_USDC	−0.0056%	4h	93.727	−0.080%	$156K	$646K	20x	as long as short
01 Exchange HYPEUSD	−0.0048%	1h	93.708	−0.100%	$85K	$349K	20x	as long as short
Backpack HYPE_USDC_PERP	−0.0028%	1h	93.714	−0.094%	$7.7M	$10.3M	20x	as long as short
Gate HYPE_USDT	−0.0008%	4h	93.726	−0.081%	$44.4M	$55.2M	75x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	−0.0002%	4h	93.747	−0.058%	$8.9M	$35.8M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.751	−0.055%	$129K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.707	−0.101%	$22K	$325K	10x	as long as short
BingX HYPE-USDT	+0.0002%	4h	93.722	−0.085%	—	$53.6M	—	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.770	−0.034%	$26K	—	150x	as long as short
Bybit HYPEUSDT	+0.0010%	8h	93.688	−0.122%	$321.6M	$279.9M	75x	as long as short
Phoenix HYPE	+0.0060%	1h	93.766	−0.038%	$213K	$1.2M	10x	as long as short
MEXC HYPE_USDTshort	+0.0068%	4h	93.722	−0.085%	$89.0M	$83.3M	100x
Binance HYPEUSDT	+0.0070%	4h	93.704	−0.104%	$381.5M	$888.8M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0071%	8h	93.730	−0.077%	$115.3M	$307.6M	50x	as long as short
Bullet HYPE-USD	+0.0073%	1h	93.767	−0.037%	$112K	$577K	20x	as long as short
edgeX HYPEUSDC	+0.0085%	4h	93.690	−0.119%	$5.1M	$30.0M	30x	as long as short
Lighter HYPE	+0.0096%	1h	93.755	−0.050%	$16.4M	$62.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.737	−0.069%	$3.1M	$11.9M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.692	−0.117%	$67K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.752	−0.053%	$399K	$175K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0096%	8h	93.846	+0.046%	$341K	$164K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.710	−0.098%	$21K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.724	−0.083%	$5.7M	$44.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.819	+0.018%	$2.05B	$666.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.750	−0.055%	$10.1M	$14.7M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.760	−0.045%	$204K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.757	−0.048%	$46.4M	$18.0M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.726	−0.081%	$227.0M	$98.2M	75x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.718	−0.090%	$31.2M	$54.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.737	−0.069%	$7.6M	$47.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.706	−0.102%	$339K	$1.0M	50x	as long as short
StandX HYPE-USDlong	+0.0100%	1h	93.802	long leg	$669K	$2.6M	20x
Vest HYPE-PERP	+0.0100%	1h	93.769	−0.036%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.758	−0.047%	$476K	$2.4M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.730	−0.077%	$79K	$170K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.723	−0.084%	$16.3M	$7.7M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.850	+0.051%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.737	−0.069%	$2.0M	$1.9M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.701	−0.108%	$18.3M	$44.0M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0136%	1h	93.870	+0.072%	$4.9M	$5.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0137%	1h	93.610	−0.205%	$30K	$339K	12x	as long as short
HTX HYPE-USDT	+0.0191%	4h	93.900	+0.104%	$1.4M	$5.9M	75x	as long as short
RISEx HYPE/USDC	+0.0210%	1h	93.794	−0.008%	$3.2M	$7.0M	20x	as long as short
Reya HYPERUSDPERP	+0.0255%	1h	93.724	−0.083%	$80K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0280%	8h	93.796	−0.006%	$1.9M	$4.9M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0156%	1h	93.771	−0.033%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0411%	1h	93.844	+0.045%	$7.4M	$4.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0680%	1h	93.825	+0.024%	$21.0M	$29.8M	50x	as long as short