Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against SunX−0.031%7-day average −0.104% · you buy dearer than you sell

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$620.621% of the position

Long on SunX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.015%+$1 on $10k

Price spread, last 3 days (all we have)−0.043%−$4 · spread now −0.031%, 7d avg −0.104%

Together, before fees−0.029%+ Points / potential airdropExtended: Active · farm board−$3 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: Extended is 0.073% dearer against SunX than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.104%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX HYPE-USDT	93.518	0.0100	pay 0.0050% / 4h	24m 30s	$32K	$1.6M	20x
Short	Extended HYPE-USD	93.489	0.0104	get 0.0013% / 1h	24m 30s	$18.3M	$42.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against SunX. 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 SunXbpFee ExtendedbpOrdersPrice spread, now −0.031%Rate

Funding earned: $0.84
Price spread: −0.031% → −0.104%: $7.32
Slippage, 4 orders: −$49.09
Fee SunX: 4 bp × 2 orders: −$8
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$53.93
Costs to cover: 0.621%
Break-even: 456.4 days

Slippage from SunX: live order book, 11 min ago; Extended: 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 SunX live order book, 11 min ago	19.37 bp	24.1 bp −$24	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 5 min ago	0.05 bp	2.6 bp −$3	3.6 bp −$36	23.7 bp −$2,369	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	−0.0928%	1h	93.480	−0.040%	$198K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0375%	1h	93.654	+0.146%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	93.434	−0.090%	$1.2M	$3.8M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.524	+0.006%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0079%	1h	93.470	−0.051%	$703K	$910K	10x	as long as short
01 Exchange HYPEUSD	−0.0056%	1h	93.497	−0.022%	$86K	$366K	20x	as long as short
Derive HYPE-PERP	−0.0002%	1h	93.424	−0.100%	$16.3M	$7.1M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.492	−0.028%	$127K	$30K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.528	+0.011%	$23K	$329K	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0001%	4h	93.473	−0.048%	$166K	$583K	20x	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 −0.0003%	1h	93.515	−0.003%	$26K	—	150x	as long as short
Aster HYPEUSDT	+0.0006%	4h	93.504	−0.015%	$8.9M	$36.0M	300x	as long as short
Phoenix HYPE	+0.0009%	1h	93.618	+0.107%	$214K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0018%	8h	93.501	−0.018%	$321.2M	$283.6M	75x	as long as short
Binance HYPEUSDT	+0.0052%	4h	93.518	0.000%	$382.2M	$896.2M	75x	as long as short
MEXC HYPE_USDT	+0.0054%	4h	93.519	+0.001%	$87.7M	$81.8M	100x	as long as short
edgeX HYPEUSDC	+0.0064%	4h	93.635	+0.126%	$5.1M	$29.7M	30x	as long as short
Phemex HYPEUSDT	+0.0073%	8h	93.530	+0.013%	$12.7M	$2.6M	50x	as long as short
Gate HYPE_USDT	+0.0078%	4h	93.522	+0.004%	$43.9M	$59.6M	75x	as long as short
Popdex HYPEUSDT	+0.0088%	1h	93.509	−0.010%	$59K	$1.2M	50x	as long as short
Bullet HYPE-USD	+0.0091%	1h	93.483	−0.037%	$113K	$576K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.570	+0.056%	$18.8M	$60.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.524	+0.006%	$3.0M	$12.3M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.505	−0.013%	$398K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.551	+0.035%	$340K	$171K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.500	−0.019%	$43K	$1.6M	10x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.492	−0.028%	$115.2M	$320.2M	50x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.527	+0.010%	$5.7M	$44.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.542	+0.026%	$10.1M	$14.5M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.625	+0.114%	$204K	$7K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.537	+0.020%	$46.3M	$18.6M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.524	+0.006%	$226.6M	$102.5M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.532	+0.015%	—	$54.2M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.548	+0.032%	$7.8M	$10.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.574	+0.060%	$31.2M	$54.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.619	+0.108%	$7.6M	$45.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.646	+0.137%	$346K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.611	+0.099%	$677K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.545	+0.029%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.528	+0.011%	$490K	$2.4M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.481	−0.040%	$76K	$171K	20x	as long as short
SunX HYPE-USDTlong	+0.0100%	4h	93.518	long leg	$32K	$1.6M	20x
SoDEX HYPE-USD	+0.0100%	1h	93.514	−0.004%	$2.0M	$2.0M	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.410	+0.954%	$31K	$338K	12x	as long as short
Extended HYPE-USDshort	+0.0104%	1h	93.489	−0.031%	$18.3M	$42.8M	50x
Kalshi KXHYPEPERP	+0.0132%	8h	93.556	+0.041%	$1.9M	$5.0M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	93.560	+0.045%	$4.9M	$5.7M	50x	as long as short
Hyperliquid HYPE	+0.0179%	1h	93.546	+0.030%	$2.03B	$676.9M	10x	as long as short
BloFin HYPE-USDT	+0.0208%	4h	93.521	+0.003%	$17.1M	$12.6M	75x	as long as short
HTX HYPE-USDT	+0.0210%	4h	93.648	+0.139%	$1.5M	$7.8M	75x	as long as short
Reya HYPERUSDPERP	+0.0249%	1h	93.509	−0.009%	$77K	$142K	15x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	93.558	+0.043%	$2.8M	$6.9M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0337% / S −0.0163%	1h	93.509	−0.009%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0424%	1h	93.600	+0.088%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0580%	1h	93.613	+0.102%	$20.9M	$29.5M	50x	as long as short