Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0001%/8h= +0.1% APRpaid last 24h −0.036%

Price spread now: RISEx against BloFin+0.053%7-day average +0.011% · 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−$19as in the Price arb table

costs, in and out, $10k−$230.229% of the position

Long on BloFin Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.122%−$12 on $10k

Price spread, last 3 days (all we have)−0.005%$0 · spread now +0.053%, 7d avg +0.011%

Together, before fees−0.127%−$13 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: RISEx is 0.042% dearer against BloFin than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin HYPE-USDT	94.068	0.0283	pay 0.0142% / 4h	39m 11s	$17.0M	$12.6M	75x
Short	RISEx HYPE/USDC	94.118	0.0284	get 0.0036% / 1h	39m 11s	$2.8M	$6.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against BloFin. 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 BloFinbpFee RISExbpOrdersPrice spread, now +0.053%Rate

Funding earned: $0.21
Price spread: +0.053% → +0.011%: $4.19
Slippage, 4 orders: −$4.91
Fee BloFin: 6 bp × 2 orders: −$12
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$18.52
Costs to cover: 0.229%
Break-even: 624.8 days

Slippage from BloFin: live order book, 5 min ago; RISEx: live order book, 5 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 BloFin live order book, 5 min ago	1.12 bp	8.1 bp −$8	10.8 bp −$108	12.5 bp −$1,251	doesn't fit
Sell RISEx live order book, 5 min ago	0.85 bp	3.8 bp −$4	5.6 bp −$56	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
Hibachi HYPE/USDT-P	−0.0632%	1h	94.113	+0.048%	$199K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0410%	1h	94.095	+0.029%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	93.976	−0.098%	$1.2M	$3.8M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.098	+0.032%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0010%	1h	94.020	−0.051%	$704K	$909K	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.120	+0.056%	$128K	$30K	5x	as long as short
Perpl HYPE	0.0000%	43m	94.061	−0.008%	$23K	$329K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	94.100	+0.034%	$27K	—	150x	as long as short
01 Exchange HYPEUSD	+0.0008%	1h	94.057	−0.012%	$87K	$365K	20x	as long as short
Orderly PERP_HYPE_USDC	+0.0008%	4h	94.079	+0.012%	$164K	$579K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix HYPE	+0.0009%	1h	94.116	+0.051%	$215K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0021%	8h	94.060	−0.009%	$323.9M	$282.7M	75x	as long as short
Aster HYPEUSDT	+0.0037%	4h	94.063	−0.005%	$8.9M	$35.9M	300x	as long as short
Derive HYPE-PERP	+0.0052%	1h	94.024	−0.047%	$16.5M	$7.1M	10x	as long as short
Phemex HYPEUSDT	+0.0059%	8h	94.071	+0.003%	$12.8M	$2.6M	50x	as long as short
MEXC HYPE_USDT	+0.0070%	4h	94.075	+0.007%	$88.8M	$81.2M	100x	as long as short
Binance HYPEUSDT	+0.0071%	4h	94.062	−0.006%	$385.1M	$891.4M	75x	as long as short
edgeX HYPEUSDC	+0.0076%	4h	94.051	−0.018%	$5.1M	$29.8M	30x	as long as short
Gate HYPE_USDT	+0.0078%	4h	94.065	−0.003%	$44.6M	$58.7M	75x	as long as short
Lighter HYPE	+0.0096%	1h	94.108	+0.043%	$19.0M	$59.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.100	+0.034%	$3.1M	$12.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.062	−0.006%	$63K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	94.089	+0.022%	$400K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	94.087	+0.020%	$342K	$171K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.090	+0.023%	$29K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.064	−0.005%	$5.7M	$44.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.099	+0.033%	$10.1M	$14.5M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	94.064	−0.004%	$116.0M	$319.9M	50x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.085	+0.018%	$47.2M	$18.4M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	94.079	+0.012%	$227.9M	$102.7M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.079	+0.012%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.075	+0.007%	$7.9M	$10.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.033	−0.037%	$31.4M	$53.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.098	+0.032%	$7.6M	$45.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.049	−0.020%	$335K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.077	+0.010%	$680K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.118	+0.054%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.106	+0.040%	$492K	$2.5M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	94.061	−0.007%	$112K	$579K	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	94.084	+0.017%	$76K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.093	+0.027%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.076	+0.009%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.120	+0.055%	$205K	$7K	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.000	−0.072%	$31K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.059	−0.010%	$18.4M	$42.6M	50x	as long as short
Kalshi KXHYPEPERP	+0.0134%	8h	94.120	+0.055%	$1.9M	$5.0M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	94.150	+0.087%	$4.9M	$5.7M	50x	as long as short
HTX HYPE-USDT	+0.0225%	4h	94.257	+0.201%	$1.5M	$7.8M	75x	as long as short
Reya HYPERUSDPERP	+0.0248%	1h	94.089	+0.022%	$77K	$142K	15x	as long as short
BloFin HYPE-USDTlong	+0.0283%	4h	94.068	long leg	$17.0M	$12.6M	75x
RISEx HYPE/USDCshort	+0.0284%	1h	94.118	+0.053%	$2.8M	$6.9M	20x
GMX HYPE/USD [WBTC.b-USDC]	L +0.0340% / S −0.0165%	1h	94.094	+0.027%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0345%	1h	94.179	+0.118%	$7.4M	$4.6M	50x	as long as short
Hyperliquid HYPE	+0.0435%	1h	94.161	+0.099%	$2.05B	$667.0M	10x	as long as short
Kraken Futures PF_HYPEUSD	+0.0576%	1h	94.192	+0.132%	$21.1M	$29.2M	50x	as long as short