Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0151%/8h= +16.6% APRpaid last 24h +0.003%

Price spread now: OKX against 01 Exchange−0.017%7-day average −0.050% · 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−$22as in the Price arb table

costs, in and out, $10k−$250.249% of the position

Long on 01 Exchange Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.015%+$2 on $10k

Price spread, last 4 days (all we have)−0.051%−$5 · spread now −0.017%, 7d avg −0.050%

Together, before fees−0.036%−$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and OKX is 0.033% dearer against 01 Exchange than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange HYPEUSD	93.830	−0.0080	get 0.0010% / 1h	5m 04s	$85K	$359K	20x
Short	OKX HYPE-USDT-SWAP	93.814	0.0071	get 0.0071% / 8h	7h 05m	$116.0M	$314.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.017%Rate

Funding earned: $31.77
Price spread: −0.017% → −0.050%: $3.28
Slippage, 4 orders: −$7.9
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: $10.15
Costs to cover: 0.249%
Break-even: 4.8 days

Slippage from 01 Exchange: live order book, 4 min ago; OKX: live order book, 4 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, 4 min ago	0.16 bp	7.0 bp −$7	11.4 bp −$114	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	0.05 bp	5.7 bp −$6	9.4 bp −$94	18.3 bp −$1,833	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	−0.1112%	1h	93.814	−0.017%	$199K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0625%	1h	93.716	−0.121%	$1.2M	$3.9M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0198%	1h	93.898	+0.072%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0097%	1h	93.810	−0.021%	$710K	$958K	10x	as long as short
dYdX HYPE-USD	−0.0082%	1h	93.836	+0.006%	$129K	$31K	5x	as long as short
01 Exchange HYPEUSDlong	−0.0080%	1h	93.830	long leg	$85K	$359K	20x
Hotstuff HYPE-PERP	−0.0080%	1h	93.842	+0.013%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0048%	1h	93.816	−0.015%	$113K	$580K	20x	as long as short
Phemex HYPEUSDT	−0.0047%	8h	93.811	−0.020%	$12.8M	$2.6M	50x	as long as short
Orderly PERP_HYPE_USDC	−0.0034%	4h	93.790	−0.043%	$159K	$643K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate HYPE_USDT	−0.0022%	4h	93.804	−0.028%	$44.4M	$60.4M	75x	as long as short
Perpl HYPE	0.0000%	43m	93.839	+0.009%	$23K	$327K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.852	+0.024%	$27K	—	150x	as long as short
Aster HYPEUSDT	+0.0004%	4h	93.805	−0.027%	$8.9M	$36.0M	300x	as long as short
Derive HYPE-PERP	+0.0016%	1h	93.775	−0.058%	$16.4M	$7.6M	10x	as long as short
Bybit HYPEUSDT	+0.0018%	8h	93.796	−0.036%	$322.7M	$278.8M	75x	as long as short
Phoenix HYPE	+0.0034%	1h	94.045	+0.229%	$214K	$1.2M	10x	as long as short
MEXC HYPE_USDT	+0.0054%	4h	93.806	−0.026%	$88.3M	$83.4M	100x	as long as short
Binance HYPEUSDT	+0.0054%	4h	93.809	−0.023%	$383.1M	$893.0M	75x	as long as short
OKX HYPE-USDT-SWAPshort	+0.0071%	8h	93.814	−0.017%	$116.0M	$314.4M	50x
edgeX HYPEUSDC	+0.0074%	4h	93.859	+0.031%	$5.1M	$29.7M	30x	as long as short
Bluefin HYPE-PERP	+0.0077%	1h	93.786	−0.047%	$76K	$170K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.829	−0.001%	$18.9M	$60.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.821	−0.010%	$3.0M	$12.2M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.830	0.000%	$64K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.805	−0.027%	$399K	$180K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.880	+0.053%	$341K	$165K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.830	0.000%	$31K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.843	+0.013%	$6.6M	$44.6M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.880	+0.053%	$2.05B	$668.7M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.850	+0.021%	$10.1M	$14.7M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.833	+0.003%	$46.6M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.831	+0.001%	$227.2M	$100.2M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.809	−0.022%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.767	−0.067%	$7.9M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.768	−0.066%	$31.3M	$53.6M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.999	+0.180%	$7.6M	$46.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.020	+0.202%	$340K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.866	+0.038%	$670K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.869	+0.042%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.861	+0.033%	$474K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.881	+0.054%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.802	−0.030%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.894	+0.068%	$204K	$10K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.787	−0.046%	$18.4M	$45.1M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.870	+0.043%	$4.9M	$5.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	93.760	−0.075%	$30K	$338K	12x	as long as short
BloFin HYPE-USDT	+0.0216%	4h	93.818	−0.013%	$17.1M	$12.1M	75x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	93.868	+0.041%	$2.7M	$6.7M	20x	as long as short
Kalshi KXHYPEPERP	+0.0245%	8h	93.899	+0.074%	$1.9M	$5.1M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0252%	1h	93.820	−0.011%	$79K	$143K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0333% / S −0.0157%	1h	93.843	+0.013%	$1.4M	—	100x	as long as short
HTX HYPE-USDT	+0.0367%	4h	94.000	+0.181%	$1.5M	$5.9M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0400%	1h	93.903	+0.078%	$7.5M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0673%	1h	93.890	+0.064%	$20.9M	$29.7M	50x	as long as short