Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0005%/8h= −0.5% APRpaid last 24h +0.028%

Price spread now: HTX against dYdX+0.174%7-day average +0.052% · you sell dearer than you buy

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$810.809% of the position

Long on dYdX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.201%+$20 on $10k

Price spread, last 4 days (all we have)−0.565%−$57 · spread now +0.174%, 7d avg +0.052%

Together, before fees−0.364%−$36 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: HTX is 0.122% dearer against dYdX than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of +0.052%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX HYPE-USD	96.554	0.0105	pay 0.0013% / 1h	9m 16s	$128K	$93K	5x
Short	HTX HYPE-USDT	96.722	0.0100	get 0.0050% / 4h	3h 09m	$1.5M	$4.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against dYdX. 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 dYdXbpFee HTXbpOrdersPrice spread, now +0.174%Rate

Funding earned: −$1
Price spread: +0.174% → +0.052%: $12.17
Slippage, 4 orders: −$58.89
Fee dYdX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$69.72
Costs to cover: 0.809%
Break-even: never at this rate

Slippage from dYdX: live order book, 53 min ago; HTX: live order book, 3 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 dYdX live order book, 53 min ago	24.99 bp	30.0 bp −$30	37.7 bp −$377	103.5 bp −$10.3K	742.4 bp −$371.2K
Sell HTX live order book, 3 min ago	1.60 bp	10.2 bp −$10	14.8 bp −$148	45.5 bp −$4,551	doesn't fit

HYPE on 55 exchanges

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	−0.0712%	1h	96.434	−0.125%	$201K	$293K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0675%	1h	96.446	−0.112%	$23K	$8K	10x	as long as short
Bluefin HYPE-PERP	−0.0600%	1h	96.584	+0.031%	$85K	$137K	20x	as long as short
BloFin HYPE-USDT	−0.0200%	4h	96.506	−0.050%	$18.6M	$11.7M	75x	as long as short
Kraken Futures PF_HYPEUSD	−0.0143%	1h	96.624	+0.072%	$17.2M	$35.9M	50x	as long as short
Aster HYPEUSDT	−0.0106%	4h	96.538	−0.017%	$9.5M	$30.1M	300x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	96.513	−0.043%	$3K	$89	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0032%	1h	96.460	−0.098%	$726K	$1.3M	10x	as long as short
01 Exchange HYPEUSD	−0.0016%	1h	96.548	−0.006%	$86K	$255K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0012%	4h	96.566	+0.012%	$156K	$592K	20x	as long as short

Show all 55 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	96.536	−0.019%	$25K	$175K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	96.596	+0.043%	$19K	—	150x	as long as short
Lighter HYPE	+0.0032%	1h	96.497	−0.060%	$17.7M	$49.6M	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0040%	1h	96.610	+0.058%	$5.0M	$5.6M	50x	as long as short
Gate HYPE_USDT	+0.0076%	4h	96.556	+0.002%	$69.8M	$56.4M	75x	as long as short
edgeX HYPEUSDC	+0.0081%	4h	96.314	−0.248%	$5.1M	$24.9M	30x	as long as short
Phoenix HYPE	+0.0083%	1h	96.569	+0.015%	$199K	$1.1M	10x	as long as short
Arcus HYPE-USD	+0.0085%	1h	96.479	−0.078%	$1.1M	$2.8M	10x	as long as short
RISEx HYPE/USDC	+0.0095%	1h	96.563	+0.009%	$3.1M	$4.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	96.515	−0.041%	$2.8M	$9.6M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	96.519	−0.036%	$170K	$1.5M	50x	as long as short
Derive HYPE-PERP	+0.0098%	1h	96.551	−0.003%	$16.3M	$4.1M	10x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	96.570	+0.016%	$29K	$1.2M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	96.506	−0.050%	$6.0M	$54.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	96.535	−0.020%	$2.11B	$540.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	96.548	−0.006%	$10.4M	$6.0M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	96.575	+0.022%	$398.3M	$747.1M	75x	as long as short
Bybit HYPEUSDT	+0.0100%	8h	96.550	−0.004%	$318.5M	$264.7M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	96.556	+0.002%	$119.0M	$292.2M	50x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	96.596	+0.043%	$89.3M	$87.5M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	96.581	+0.028%	$46.6M	$17.9M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	96.545	−0.010%	$232.0M	$80.3M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	96.559	+0.005%	—	$46.6M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	96.518	−0.037%	$6.2M	$11.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	96.443	−0.115%	$31.4M	$51.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	96.531	−0.024%	$7.8M	$44.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	96.301	−0.262%	$366K	$837K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	96.510	−0.046%	$699K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	96.585	+0.032%	—	$938	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	96.529	−0.026%	$473K	$3.5M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	96.555	+0.001%	$114K	$516K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	96.569	+0.015%	$33K	$1.1M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	96.565	+0.011%	$2.1M	$271K	10x	as long as short
HTX HYPE-USDTshort	+0.0100%	4h	96.722	+0.174%	$1.5M	$4.8M	75x
Phemex HYPEUSDT	+0.0100%	8h	96.560	+0.006%	$13.2M	$2.0M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	96.360	−0.201%	$217K	$29K	10x	as long as short
Paradex HYPE-USD-PERP	+0.0100%	8h	96.550	−0.005%	$344K	$21K	20x	as long as short
Extended HYPE-USD	+0.0104%	1h	96.557	+0.003%	$18.2M	$29.7M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	96.589	+0.036%	$408K	$184K	20x	as long as short
dYdX HYPE-USDlong	+0.0105%	1h	96.554	long leg	$128K	$93K	5x
Kalshi KXHYPEPERP	+0.0121%	8h	96.600	+0.047%	$1.7M	$4.0M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0148% / S +0.0017%	1h	96.602	+0.049%	$1.4M	—	100x	as long as short
Reya HYPERUSDPERP	+0.0264%	1h	96.557	+0.003%	$84K	$67K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0381%	1h	96.660	+0.110%	$7.6M	$3.2M	50x	as long as short
Injective HYPE/USDC PERP	+0.0697%	1h	96.420	−0.139%	$31K	$284K	12x	as long as short