Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.045%

Price spread now: Hyperliquid against Vest−0.014%7-day average +0.049% · you buy dearer than you sell

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

Long on Vest Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.179%+$18 on $10k

Price spread, last 4 days (all we have)−0.191%−$19 · spread now −0.014%, 7d avg +0.049%

Together, before fees−0.013%+ Points / potential airdropVest: Active · Hyperliquid: Season 2 · farm board−$1 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: Hyperliquid is 0.063% cheaper against Vest than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest HYPE-PERP	92.905	0.0100	pay 0.0013% / 1h	28m 27s	—	$243K	5x
Short	Hyperliquid HYPE	92.892	0.0100	get 0.0013% / 1h	28m 27s	$2.02B	$666.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now −0.014%Rate

Funding earned: $0
Price spread: −0.014% → +0.049%: −$6.33
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$17.33
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Vest: no order-book sample; Hyperliquid: live order book, 6 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 Hyperliquid live order book, 6 min ago	0.05 bp	5.4 bp −$5	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
Hibachi HYPE/USDT-P	−0.1568%	1h	92.719	−0.200%	$193K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0304%	1h	92.866	−0.042%	$22K	$21K	10x	as long as short
Arcus HYPE-USD	−0.0194%	1h	92.829	−0.082%	$1.1M	$3.9M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.866	−0.042%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0061%	4h	92.842	−0.068%	$145K	$681K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.906	+0.001%	$127K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.868	−0.040%	$22K	$295K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.890	−0.016%	$62K	—	150x	as long as short
Bullet HYPE-USD	+0.0016%	1h	92.810	−0.102%	$111K	$577K	20x	as long as short
Phoenix HYPE	+0.0026%	1h	92.857	−0.052%	$210K	$1.2M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps HYPE-USD.P	+0.0030%	1h	92.810	−0.102%	$699K	$1.1M	10x	as long as short
Bybit HYPEUSDT	+0.0032%	8h	92.845	−0.065%	$315.6M	$282.6M	75x	as long as short
01 Exchange HYPEUSD	+0.0040%	1h	92.857	−0.052%	$86K	$363K	20x	as long as short
Phemex HYPEUSDT	+0.0048%	8h	92.901	−0.004%	$12.5M	$2.7M	50x	as long as short
Bitget HYPEUSDT	+0.0054%	4h	92.853	−0.056%	$224.9M	$99.2M	75x	as long as short
Popdex HYPEUSDT	+0.0064%	1h	92.845	−0.065%	$70K	$1.1M	50x	as long as short
Lighter HYPE	+0.0096%	1h	92.876	−0.031%	$16.0M	$62.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.884	−0.023%	$3.1M	$11.6M	20x	as long as short
edgeX HYPEUSDC	+0.0097%	4h	92.935	+0.032%	$4.9M	$29.6M	30x	as long as short
Gate HYPE_USDT	+0.0098%	4h	92.852	−0.057%	$45.0M	$54.3M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	92.881	−0.026%	$339K	$163K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.860	−0.048%	$34K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.858	−0.050%	$7.4M	$46.1M	10x	as long as short
Hyperliquid HYPEshort	+0.0100%	1h	92.892	−0.014%	$2.02B	$666.6M	10x
Aster HYPEUSDT	+0.0100%	4h	92.861	−0.047%	$8.7M	$36.1M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	92.871	−0.036%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.847	−0.062%	$373.3M	$905.6M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	92.850	−0.059%	$113.9M	$304.1M	50x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.839	−0.071%	$91.4M	$81.0M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.847	−0.062%	$46.1M	$18.4M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	92.857	−0.052%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.879	−0.028%	$7.2M	$11.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.959	+0.058%	$28.6M	$57.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.003	+0.106%	$7.5M	$46.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.975	+0.075%	$341K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.879	−0.028%	$668K	$2.9M	20x	as long as short
Vest HYPE-PERPlong	+0.0100%	1h	92.905	long leg	—	$243K	5x
Polymarket Perps HYPE-USD	+0.0100%	1h	92.881	−0.026%	$471K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.864	−0.044%	$79K	$167K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.847	−0.062%	$16.0M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.942	+0.040%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.864	−0.044%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.005	+0.108%	$1.4M	$6.3M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.770	−0.145%	$202K	$13K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.815	−0.097%	$18.0M	$43.6M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.847	−0.063%	$393K	$164K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.040	+0.145%	$4.7M	$5.6M	50x	as long as short
Kalshi KXHYPEPERP	+0.0175%	8h	92.939	+0.037%	$1.8M	$5.4M	2.3x	as long as short
Kraken Futures PF_HYPEUSD	+0.0197%	1h	92.925	+0.021%	$20.6M	$30.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0242%	1h	92.790	−0.124%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0265%	1h	92.837	−0.074%	$79K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.885	−0.022%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.881	−0.026%	$16.8M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0364%	1h	92.948	+0.046%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0598%	1h	92.910	+0.006%	$3.2M	$6.4M	20x	as long as short