Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0107%/8h= +11.7% APRpaid last 24h +0.027%

Price spread now: Paradex against 01 Exchange−0.036%7-day average −0.017% · 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−$52as in the Price arb table

costs, in and out, $10k−$500.496% of the position

Long on 01 Exchange Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.032%+$3 on $10k

Price spread, last 4 days (all we have)−0.136%−$14 · spread now −0.036%, 7d avg −0.017%

Together, before fees−0.104%+ Points / potential airdropParadex: Active · farm board−$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.017%, 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	93.245	−0.0008	get 0.0001% / 1h	47m 23s	$90K	$362K	20x
Short	Paradex HYPE-USD-PERP	93.211	0.0099	get 0.0099% / 8h	1h 47m	$339K	$170K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.036%Rate

Funding earned: $22.47
Price spread: −0.036% → −0.017%: −$1.99
Slippage, 4 orders: −$38.64
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$29.16
Costs to cover: 0.496%
Break-even: 16.1 days

Slippage from 01 Exchange: live order book, 37 min ago; Paradex: live order book, 37 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, 37 min ago	0.05 bp	6.3 bp −$6	11.1 bp −$111	doesn't fit	doesn't fit
Sell Paradex live order book, 37 min ago	16.62 bp	18.6 bp −$19	21.0 bp −$210	doesn't fit	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	−0.0320%	1h	93.105	−0.151%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0131%	1h	93.194	−0.055%	$1.2M	$4.0M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.221	−0.026%	$3K	$331	25x	as long as short
Hibachi HYPE/USDT-P	−0.0080%	1h	93.088	−0.168%	$197K	$231K	7x	as long as short
01 Exchange HYPEUSDlong	−0.0008%	1h	93.245	long leg	$90K	$362K	20x
Ondo Perps HYPE-USD.P	−0.0002%	1h	93.120	−0.134%	$697K	$924K	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.275	+0.032%	$127K	$32K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.244	−0.001%	$1.9M	$5.3M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.203	−0.046%	$23K	$331K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.200	−0.048%	$20K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0005%	4h	93.189	−0.060%	$8.9M	$36.0M	300x	as long as short
Derive HYPE-PERP	+0.0016%	1h	93.141	−0.112%	$16.3M	$7.1M	10x	as long as short
Popdex HYPEUSDT	+0.0016%	1h	93.215	−0.032%	$57K	$1.2M	50x	as long as short
Bybit HYPEUSDT	+0.0031%	8h	93.180	−0.070%	$323.9M	$286.9M	75x	as long as short
Phoenix HYPE	+0.0034%	1h	93.178	−0.072%	$216K	$1.2M	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0039%	4h	93.189	−0.060%	$169K	$520K	20x	as long as short
Gate HYPE_USDT	+0.0066%	4h	93.172	−0.078%	$43.7M	$57.6M	75x	as long as short
Bullet HYPE-USD	+0.0083%	1h	93.144	−0.108%	$112K	$579K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.241	−0.004%	$18.5M	$58.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.234	−0.012%	$3.0M	$12.1M	20x	as long as short
MEXC HYPE_USDT	+0.0096%	4h	93.170	−0.080%	$90.4M	$81.5M	100x	as long as short
Binance HYPEUSDT	+0.0098%	4h	93.192	−0.057%	$383.5M	$892.3M	75x	as long as short
Paradex HYPE-USD-PERPshort	+0.0099%	8h	93.211	−0.036%	$339K	$170K	20x
Katana Perps HYPE-USD	+0.0100%	8h	93.200	−0.048%	$40K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.189	−0.060%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.224	−0.023%	$2.03B	$671.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.242	−0.003%	$10.0M	$14.3M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.180	−0.070%	$114.1M	$314.4M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.884	−0.387%	$203K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.175	−0.075%	$47.2M	$19.1M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.197	−0.051%	$225.9M	$102.8M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.182	−0.068%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.130	−0.123%	$7.8M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.887	−0.384%	$28.9M	$50.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.983	−0.281%	$7.5M	$45.3M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.003	−0.260%	$411K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.000	−0.263%	$673K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.205	−0.043%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.245	0.000%	$493K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.248	+0.003%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.189	−0.060%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.211	−0.036%	$12.7M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.175	−0.075%	$18.3M	$42.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.190	−0.059%	$396K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0108%	4h	92.923	−0.345%	$5.0M	$29.5M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.170	−0.080%	$4.9M	$5.7M	50x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	93.170	−0.080%	$30K	$338K	12x	as long as short
Reya HYPERUSDPERP	+0.0246%	1h	93.183	−0.066%	$78K	$158K	15x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.281	+0.039%	$2.8M	$6.8M	20x	as long as short
HTX HYPE-USDT	+0.0287%	4h	93.238	−0.008%	$1.5M	$7.7M	75x	as long as short
Bluefin HYPE-PERP	+0.0304%	1h	93.207	−0.041%	$76K	$168K	20x	as long as short
BloFin HYPE-USDT	+0.0338%	4h	93.072	−0.186%	$17.0M	$12.4M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0340% / S −0.0159%	1h	93.193	−0.056%	$1.5M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0394%	1h	93.291	+0.049%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0466%	1h	93.304	+0.063%	$20.8M	$28.6M	50x	as long as short