Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0124%/8h= +13.6% APRpaid last 24h +0.025%

Price spread now: SunX against 01 Exchange+0.020%7-day average +0.034% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$700.701% of the position

Long on 01 Exchange Short on SunX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.031%+$3 on $10k

Price spread, last 3 days (all we have)−0.091%−$9 · spread now +0.020%, 7d avg +0.034%

Together, before fees−0.060%−$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.034%, so right now this pair is about funding alone: +$4 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	93.463	−0.0024	get 0.0003% / 1h	5m 46s	$91K	$358K	20x
Short	SunX HYPE-USDT	93.482	0.0100	get 0.0050% / 4h	1h 05m	$32K	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.020%Rate

Funding earned: $26.04
Price spread: +0.020% → +0.034%: −$1.39
Slippage, 4 orders: −$55.06
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$45.42
Costs to cover: 0.701%
Break-even: 19.2 days

Slippage from 01 Exchange: live order book, 13 min ago; SunX: live order book, 9 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, 13 min ago	0.11 bp	6.3 bp −$6	10.2 bp −$102	doesn't fit	doesn't fit
Sell SunX live order book, 9 min ago	19.34 bp	33.3 bp −$33	doesn't fit	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	−0.0475%	1h	93.295	−0.180%	$22K	$22K	10x	as long as short
Hibachi HYPE/USDT-P	−0.0416%	1h	93.238	−0.241%	$197K	$229K	7x	as long as short
Arcus HYPE-USD	−0.0131%	1h	93.355	−0.116%	$1.2M	$3.9M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0129%	1h	93.160	−0.324%	$699K	$894K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.346	−0.125%	$3K	$331	25x	as long as short
01 Exchange HYPEUSDlong	−0.0024%	1h	93.463	long leg	$91K	$358K	20x
dYdX HYPE-USD	0.0000%	1h	93.390	−0.078%	$127K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.394	−0.073%	$23K	$330K	10x	as long as short
Aster HYPEUSDT	+0.0002%	4h	93.419	−0.047%	$8.9M	$35.7M	300x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.460	−0.003%	$27K	—	150x	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	93.431	−0.034%	$58K	$1.2M	50x	as long as short
Orderly PERP_HYPE_USDC	+0.0016%	4h	93.429	−0.036%	$176K	$524K	20x	as long as short
Bybit HYPEUSDT	+0.0020%	8h	93.410	−0.057%	$323.5M	$281.6M	75x	as long as short
Phoenix HYPE	+0.0034%	1h	93.306	−0.168%	$214K	$1.2M	10x	as long as short
Bullet HYPE-USD	+0.0054%	1h	93.434	−0.031%	$112K	$577K	20x	as long as short
MEXC HYPE_USDT	+0.0060%	4h	93.415	−0.051%	$90.3M	$82.4M	100x	as long as short
Binance HYPEUSDT	+0.0061%	4h	93.428	−0.037%	$383.5M	$886.4M	75x	as long as short
Derive HYPE-PERP	+0.0061%	1h	93.381	−0.087%	$16.3M	$7.0M	10x	as long as short
Gate HYPE_USDT	+0.0062%	4h	93.412	−0.055%	$44.1M	$58.9M	75x	as long as short
edgeX HYPEUSDC	+0.0080%	4h	93.250	−0.228%	$5.1M	$29.6M	30x	as long as short
Lighter HYPE	+0.0096%	1h	93.475	+0.013%	$18.6M	$59.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.459	−0.004%	$3.1M	$12.2M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.434	−0.031%	$397K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.417	−0.049%	$339K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.390	−0.078%	$35K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.430	−0.035%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.445	−0.019%	$2.03B	$661.7M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.431	−0.034%	$10.1M	$14.5M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.414	−0.052%	$114.2M	$312.6M	50x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.428	−0.037%	$47.1M	$18.4M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.425	−0.041%	$226.6M	$102.7M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.408	−0.059%	—	$53.8M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.435	−0.030%	$7.9M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.212	−0.268%	$30.8M	$51.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.317	−0.156%	$7.5M	$45.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.303	−0.171%	$415K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.230	−0.249%	$674K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.422	−0.043%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.448	−0.016%	$494K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.437	−0.028%	$76K	$166K	20x	as long as short
SunX HYPE-USDTshort	+0.0100%	4h	93.482	+0.020%	$32K	$1.6M	20x
SoDEX HYPE-USD	+0.0100%	1h	93.417	−0.049%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.384	−0.085%	$12.7M	$2.6M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.280	−0.196%	$204K	$8K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.390	−0.078%	$18.2M	$41.6M	50x	as long as short
Kalshi KXHYPEPERP	+0.0117%	8h	93.481	+0.019%	$1.9M	$5.2M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.490	+0.029%	$4.9M	$5.7M	50x	as long as short
HTX HYPE-USDT	+0.0220%	4h	93.588	+0.134%	$1.5M	$7.7M	75x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	93.530	+0.072%	$30K	$338K	12x	as long as short
BloFin HYPE-USDT	+0.0243%	4h	93.225	−0.255%	$16.9M	$12.4M	75x	as long as short
Reya HYPERUSDPERP	+0.0248%	1h	93.426	−0.039%	$77K	$159K	15x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.477	+0.015%	$2.7M	$6.8M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0340% / S −0.0165%	1h	93.453	−0.010%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0371%	1h	93.517	+0.058%	$7.4M	$4.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0464%	1h	93.534	+0.076%	$20.9M	$28.9M	50x	as long as short