Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.067%

Price spread now: BloFin against Vest−0.047%7-day average +0.016% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Vest Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.366%+$37 on $10k

Price spread, last 4 days (all we have)+0.058%+$6 · spread now −0.047%, 7d avg +0.016%

Together, before fees+0.424%+ Points / potential airdropVest: Active · farm board+$42 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.063% cheaper against Vest than usual: you would sell low and buy high (spread −0.047% now, against its 7-day average of +0.016%). If the spread goes back, that is −$6 on $10k: about 21 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest HYPE-PERP	94.379	0.0100	pay 0.0013% / 1h	4m 02s	—	$243K	5x
Short	BloFin HYPE-USDT	94.335	0.0340	get 0.0170% / 4h	2h 04m	$16.8M	$12.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Vest. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 VestbpFee BloFinbpOrdersPrice spread, now −0.047%Rate

Funding earned: $50.4
Price spread: −0.047% → +0.016%: −$6.25
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee BloFin: 6 bp × 2 orders: −$12
Net: $30.15
Costs to cover: 0.140%
Break-even: 2.8 days

Slippage unknown: Vest: no order-book sample; BloFin: live order book, 5 min ago. Net counts fees only.

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 Vest no order-book sample	—	—	—	—	—
Sell BloFin live order book, 5 min ago	0.69 bp	6.7 bp −$7	9.6 bp −$96	14.4 bp −$1,435	doesn't fit

Vest: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1296%	1h	94.290	−0.094%	$201K	$241K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0328%	1h	94.318	−0.064%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.328	−0.054%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0014%	4h	94.276	−0.109%	$150K	$681K	20x	as long as short
Bullet HYPE-USD	−0.0001%	1h	94.308	−0.075%	$112K	$580K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.351	−0.029%	$129K	$29K	5x	as long as short
01 Exchange HYPEUSD	0.0000%	1h	94.342	−0.039%	$87K	$372K	20x	as long as short
Perpl HYPE	0.0000%	43m	94.315	−0.068%	$22K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	94.310	−0.073%	$63K	—	150x	as long as short
Arcus HYPE-USD	+0.0011%	1h	94.285	−0.099%	$1.0M	$4.0M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit HYPEUSDT	+0.0021%	8h	94.230	−0.158%	$318.4M	$287.1M	75x	as long as short
Phoenix HYPE	+0.0026%	1h	94.438	+0.063%	$211K	$1.2M	10x	as long as short
Phemex HYPEUSDT	+0.0032%	8h	94.287	−0.097%	$12.8M	$2.8M	50x	as long as short
Bitget HYPEUSDT	+0.0036%	4h	94.275	−0.110%	$227.4M	$99.4M	75x	as long as short
Ondo Perps HYPE-USD.P	+0.0066%	1h	94.300	−0.084%	$711K	$1.2M	10x	as long as short
edgeX HYPEUSDC	+0.0092%	4h	94.364	−0.015%	$5.0M	$30.4M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	94.352	−0.028%	$343K	$158K	20x	as long as short
Lighter HYPE	+0.0096%	1h	94.287	−0.098%	$16.4M	$63.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.279	−0.106%	$3.2M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.322	−0.060%	$78K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.290	−0.094%	$30K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.314	−0.069%	$7.2M	$49.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.371	−0.008%	$2.07B	$679.8M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.272	−0.114%	$8.8M	$36.8M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.344	−0.037%	$10.2M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.257	−0.130%	$378.8M	$925.3M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	94.247	−0.140%	$116.4M	$317.7M	50x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.250	−0.137%	$48.2M	$55.8M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.257	−0.129%	$91.0M	$82.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.296	−0.088%	$46.6M	$18.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.247	−0.140%	—	$53.8M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.293	−0.091%	$7.2M	$10.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.388	+0.010%	$28.9M	$56.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.427	+0.051%	$7.7M	$48.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.375	−0.004%	$345K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.333	−0.049%	$675K	$2.8M	20x	as long as short
Vest HYPE-PERPlong	+0.0100%	1h	94.379	long leg	—	$243K	5x
Polymarket Perps HYPE-USD	+0.0100%	1h	94.316	−0.067%	$479K	$2.8M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	94.285	−0.099%	$80K	$167K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	94.265	−0.120%	$16.3M	$7.4M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.414	+0.037%	$33K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.255	−0.131%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.450	+0.075%	$1.4M	$6.6M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.197	−0.192%	$217K	$15K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.239	−0.149%	$18.2M	$43.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.294	−0.090%	$399K	$159K	20x	as long as short
Kalshi KXHYPEPERP	+0.0121%	8h	94.363	−0.017%	$1.8M	$5.6M	2.3x	as long as short
Injective HYPE/USDC PERP	+0.0122%	1h	94.610	+0.245%	$31K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	94.460	+0.086%	$4.7M	$6.1M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0185%	1h	94.350	−0.031%	$7.5M	$4.1M	50x	as long as short
Reya HYPERUSDPERP	+0.0270%	1h	94.277	−0.108%	$78K	$130K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0333% / S −0.0154%	1h	94.308	−0.075%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0338%	1h	94.331	−0.050%	$21.0M	$29.6M	50x	as long as short
BloFin HYPE-USDTshort	+0.0340%	4h	94.335	−0.047%	$16.8M	$12.3M	75x
RISEx HYPE/USDC	+0.0527%	1h	94.365	−0.014%	$3.2M	$6.3M	20x	as long as short