Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.020%

Price spread now: Bluefin against Vest−0.111%7-day average +0.007% · you buy dearer than you sell

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

Long on Vest Short on Bluefin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.078%+$8 on $10k

Price spread, last 4 days (all we have)−0.059%−$6 · spread now −0.111%, 7d avg +0.007%

Together, before fees+0.019%+ Points / potential airdropVest: Active · farm board+$2 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: Bluefin is 0.118% cheaper against Vest than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of +0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest HYPE-PERP	92.713	0.0100	pay 0.0013% / 1h	3m 04s	—	$243K	5x
Short	Bluefin HYPE-PERP	92.610	0.0100	get 0.0013% / 1h	3m 04s	$78K	$169K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bluefin against Vest. 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 VestbpFee BluefinbpOrdersPrice spread, now −0.111%Rate

Funding earned: $0
Price spread: −0.111% → +0.007%: −$11.84
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: −$20.84
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Vest: no order-book sample; Bluefin: live order book, 61 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 Bluefin live order book, 61 min ago	4.82 bp	12.5 bp −$13	doesn't fit	doesn't fit	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
Arcus HYPE-USD	−0.0899%	1h	92.466	−0.267%	$1.2M	$3.8M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0872%	1h	92.840	+0.137%	$195K	$227K	7x	as long as short
Ondo Perps HYPE-USD.P	−0.0128%	1h	92.530	−0.198%	$698K	$1.1M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.572	−0.152%	$3K	$331	25x	as long as short
Aftermath Perps HYPEUSD	−0.0070%	1h	92.996	+0.305%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0064%	1h	92.607	−0.115%	$86K	$349K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0056%	4h	92.606	−0.116%	$158K	$663K	20x	as long as short
Bullet HYPE-USD	−0.0006%	1h	92.622	−0.099%	$111K	$579K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.610	−0.111%	$127K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.618	−0.102%	$23K	$310K	10x	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 −0.0002%	1h	92.662	−0.056%	$61K	—	150x	as long as short
Aster HYPEUSDT	+0.0003%	4h	92.571	−0.153%	$8.7M	$36.1M	300x	as long as short
Phoenix HYPE	+0.0026%	1h	93.003	+0.312%	$211K	$1.2M	10x	as long as short
BingX HYPE-USDT	+0.0037%	4h	92.609	−0.112%	—	$53.1M	—	as long as short
Bybit HYPEUSDT	+0.0044%	8h	92.590	−0.133%	$318.0M	$278.5M	75x	as long as short
Gate HYPE_USDT	+0.0044%	4h	92.600	−0.122%	$44.5M	$56.2M	75x	as long as short
Phemex HYPEUSDT	+0.0057%	8h	92.660	−0.057%	$12.5M	$2.7M	50x	as long as short
Derive HYPE-PERP	+0.0066%	1h	92.597	−0.125%	$16.1M	$7.5M	10x	as long as short
OKX HYPE-USDT-SWAP	+0.0073%	8h	92.583	−0.141%	$113.2M	$299.7M	50x	as long as short
Binance HYPEUSDT	+0.0085%	4h	92.590	−0.133%	$374.5M	$889.1M	75x	as long as short
MEXC HYPE_USDT	+0.0086%	4h	92.630	−0.090%	$87.9M	$81.7M	100x	as long as short
Paradex HYPE-USD-PERP	+0.0094%	8h	92.559	−0.167%	$338K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.632	−0.088%	$16.1M	$62.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.625	−0.095%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.627	−0.093%	$68K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	92.600	−0.122%	$29K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.589	−0.134%	$5.8M	$43.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.671	−0.046%	$2.02B	$656.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.584	−0.139%	$10.0M	$14.8M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.640	−0.079%	$45.8M	$18.2M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.603	−0.119%	$223.7M	$97.2M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.580	−0.144%	$7.4M	$10.1M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.797	+0.090%	$31.2M	$53.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.816	+0.111%	$7.5M	$46.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.850	+0.147%	$337K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.861	+0.159%	$664K	$2.7M	20x	as long as short
Vest HYPE-PERPlong	+0.0100%	1h	92.713	long leg	—	$243K	5x
Polymarket Perps HYPE-USD	+0.0100%	1h	92.654	−0.064%	$468K	$2.5M	20x	as long as short
Bluefin HYPE-PERPshort	+0.0100%	1h	92.610	−0.111%	$78K	$169K	20x
SunX HYPE-USDT	+0.0100%	4h	92.647	−0.072%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.639	−0.080%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.810	+0.104%	$202K	$13K	10x	as long as short
edgeX HYPEUSDC	+0.0102%	4h	92.791	+0.084%	$5.0M	$29.0M	30x	as long as short
HTX HYPE-USDT	+0.0103%	4h	92.744	+0.033%	$1.4M	$6.1M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.617	−0.104%	$18.3M	$43.0M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.615	−0.106%	$394K	$162K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	92.640	−0.079%	$4.7M	$5.5M	50x	as long as short
Reya HYPERUSDPERP	+0.0260%	1h	92.624	−0.096%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0267%	8h	92.841	+0.138%	$1.8M	$5.4M	2.3x	as long as short
BloFin HYPE-USDT	+0.0325%	4h	92.618	−0.103%	$16.8M	$11.5M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0156%	1h	92.666	−0.051%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0451%	1h	92.740	+0.029%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0510%	1h	92.689	−0.026%	$3.2M	$6.3M	20x	as long as short
Injective HYPE/USDC PERP	+0.0519%	1h	93.390	+0.730%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0690%	1h	92.698	−0.017%	$20.6M	$30.2M	50x	as long as short