Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h +0.021%

Price spread now: edgeX against 01 Exchange−0.020%7-day average −0.038% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$220.223% of the position

Long on 01 Exchange Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.035%+$4 on $10k

Price spread, last 4 days (all we have)−0.419%−$42 · spread now −0.020%, 7d avg −0.038%

Together, before fees−0.384%+ Points / potential airdropedgeX: Active · farm board−$38 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.038%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange HYPEUSD	93.269	−0.0024	get 0.0003% / 1h	6m 58s	$90K	$358K	20x
Short	edgeX HYPEUSDC	93.250	0.0080	get 0.0040% / 4h	1h 06m	$5.1M	$29.6M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against 01 Exchange. 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 01 ExchangebpFee edgeXbpOrdersPrice spread, now −0.020%Rate

Funding earned: $21.85
Price spread: −0.020% → −0.038%: $1.8
Slippage, 4 orders: −$6.34
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $1.32
Costs to cover: 0.223%
Break-even: 6.6 days

Slippage from 01 Exchange: live order book, 12 min ago; edgeX: live order book, 2 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 01 Exchange live order book, 12 min ago	0.11 bp	6.3 bp −$6	10.2 bp −$102	doesn't fit	doesn't fit
Sell edgeX live order book, 2 min ago	0.32 bp	4.8 bp −$5	5.0 bp −$50	144.8 bp −$14.5K	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
Aftermath Perps HYPEUSD	−0.0476%	1h	93.219	−0.053%	$22K	$22K	10x	as long as short
Hibachi HYPE/USDT-P	−0.0408%	1h	93.255	−0.015%	$197K	$229K	7x	as long as short
Arcus HYPE-USD	−0.0131%	1h	93.134	−0.145%	$1.2M	$3.9M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0130%	1h	93.160	−0.117%	$699K	$895K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.192	−0.083%	$3K	$331	25x	as long as short
01 Exchange HYPEUSDlong	−0.0024%	1h	93.269	long leg	$90K	$358K	20x
dYdX HYPE-USD	0.0000%	1h	93.227	−0.045%	$127K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.246	−0.025%	$23K	$330K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.272	+0.003%	$27K	—	150x	as long as short
Aster HYPEUSDT	+0.0003%	4h	93.316	+0.050%	$8.9M	$35.7M	300x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex HYPEUSDT	+0.0008%	1h	93.241	−0.030%	$58K	$1.2M	50x	as long as short
Orderly PERP_HYPE_USDC	+0.0016%	4h	93.253	−0.017%	$176K	$524K	20x	as long as short
Bybit HYPEUSDT	+0.0020%	8h	93.360	+0.098%	$323.5M	$282.2M	75x	as long as short
Phoenix HYPE	+0.0034%	1h	93.306	+0.040%	$214K	$1.2M	10x	as long as short
Bullet HYPE-USD	+0.0047%	1h	93.248	−0.022%	$111K	$577K	20x	as long as short
Gate HYPE_USDT	+0.0058%	4h	93.356	+0.093%	$44.1M	$58.8M	75x	as long as short
MEXC HYPE_USDT	+0.0060%	4h	93.354	+0.091%	$90.2M	$82.3M	100x	as long as short
Binance HYPEUSDT	+0.0061%	4h	93.344	+0.081%	$383.2M	$887.1M	75x	as long as short
Derive HYPE-PERP	+0.0061%	1h	93.213	−0.060%	$16.3M	$7.0M	10x	as long as short
edgeX HYPEUSDCshort	+0.0080%	4h	93.250	−0.020%	$5.1M	$29.6M	30x
Lighter HYPE	+0.0096%	1h	93.331	+0.066%	$18.6M	$59.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.305	+0.039%	$3.1M	$12.2M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.250	−0.020%	$397K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.192	−0.083%	$338K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.260	−0.010%	$35K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.193	−0.081%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.306	+0.040%	$2.03B	$661.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.221	−0.051%	$10.1M	$14.5M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.370	+0.108%	$114.1M	$312.7M	50x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.352	+0.089%	$47.0M	$18.4M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.401	+0.142%	$226.6M	$102.7M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.358	+0.095%	—	$53.8M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.331	+0.066%	$7.8M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.212	−0.061%	$30.8M	$51.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.317	+0.052%	$7.5M	$45.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.303	+0.036%	$415K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.252	−0.018%	$674K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.276	+0.007%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.261	−0.009%	$493K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.255	−0.015%	$76K	$167K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.270	+0.001%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.255	−0.015%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.234	−0.038%	$12.7M	$2.6M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.280	+0.012%	$204K	$8K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.336	+0.072%	$18.2M	$41.6M	50x	as long as short
Kalshi KXHYPEPERP	+0.0118%	8h	93.272	+0.003%	$1.9M	$5.2M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.280	+0.012%	$4.9M	$5.7M	50x	as long as short
HTX HYPE-USDT	+0.0220%	4h	93.369	+0.107%	$1.5M	$7.7M	75x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	93.530	+0.280%	$30K	$338K	12x	as long as short
BloFin HYPE-USDT	+0.0243%	4h	93.225	−0.047%	$16.9M	$12.4M	75x	as long as short
Reya HYPERUSDPERP	+0.0247%	1h	93.245	−0.025%	$77K	$159K	15x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.288	+0.020%	$2.7M	$6.8M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0165%	1h	93.271	+0.002%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0372%	1h	93.352	+0.089%	$7.4M	$4.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0465%	1h	93.387	+0.126%	$20.9M	$28.9M	50x	as long as short