Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0111%/8h= −12.2% APRpaid last 24h −0.021%

Price spread now: 01 Exchange against edgeX+0.017%7-day average +0.039% · 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−$24as in the Price arb table

costs, in and out, $10k−$220.220% of the position

Long on edgeX Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.034%−$3 on $10k

Price spread, last 4 days (all we have)+0.276%+$28 · spread now +0.017%, 7d avg +0.039%

Together, before fees+0.241%+ Points / potential airdropedgeX: Active · farm board+$24 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and 01 Exchange is 0.021% cheaper against edgeX than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.039%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX HYPEUSDC	93.275	0.0111	pay 0.0056% / 4h	1h 58m	$5.1M	$29.5M	30x
Short	01 Exchange HYPEUSD	93.291	0	get 0.0000% / 1h	58m 46s	$90K	$360K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange against edgeX. 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 edgeXbpFee 01 ExchangebpOrdersPrice spread, now +0.017%Rate

Funding earned: −$23.36
Price spread: +0.017% → +0.039%: −$2.11
Slippage, 4 orders: −$6.04
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$47.51
Costs to cover: 0.220%
Break-even: never at this rate

Slippage from edgeX: live order book, 5 min ago; 01 Exchange: live order book, 25 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 edgeX live order book, 5 min ago	0.32 bp	4.8 bp −$5	5.0 bp −$50	129.4 bp −$12.9K	doesn't fit
Sell 01 Exchange live order book, 25 min ago	0.05 bp	6.1 bp −$6	10.1 bp −$101	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	−0.0768%	1h	93.294	+0.020%	$197K	$232K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0276%	1h	93.283	+0.009%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0131%	1h	93.131	−0.154%	$1.2M	$4.1M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.214	−0.065%	$3K	$331	25x	as long as short
Derive HYPE-PERP	−0.0037%	1h	93.209	−0.070%	$16.4M	$7.1M	10x	as long as short
Bullet HYPE-USD	−0.0033%	1h	93.243	−0.034%	$111K	$580K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.181	−0.100%	$127K	$32K	5x	as long as short
01 Exchange HYPEUSDshort	0.0000%	1h	93.291	+0.017%	$90K	$360K	20x
Kalshi KXHYPEPERP	0.0000%	8h	93.335	+0.065%	$1.9M	$5.3M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.251	−0.026%	$23K	$334K	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.299	+0.026%	$20K	—	150x	as long as short
Aster HYPEUSDT	+0.0008%	4h	93.178	−0.104%	$8.9M	$35.8M	300x	as long as short
Bybit HYPEUSDT	+0.0028%	8h	93.150	−0.134%	$324.4M	$286.3M	75x	as long as short
Ondo Perps HYPE-USD.P	+0.0034%	1h	93.120	−0.166%	$701K	$932K	10x	as long as short
Gate HYPE_USDT	+0.0036%	4h	93.215	−0.064%	$44.0M	$56.3M	75x	as long as short
Orderly PERP_HYPE_USDC	+0.0049%	4h	93.281	+0.007%	$167K	$512K	20x	as long as short
Phoenix HYPE	+0.0068%	1h	93.358	+0.089%	$216K	$1.2M	10x	as long as short
Vest HYPE-PERP	+0.0078%	1h	93.279	+0.004%	—	$454K	5x	as long as short
Lighter HYPE	+0.0096%	1h	93.208	−0.072%	$18.6M	$58.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.185	−0.096%	$3.1M	$12.0M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.263	−0.013%	$57K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.160	−0.123%	$338K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.260	−0.016%	$36K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.254	−0.022%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.238	−0.039%	$2.03B	$672.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.181	−0.101%	$10.0M	$14.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.175	−0.107%	$384.4M	$890.1M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.152	−0.132%	$114.7M	$314.2M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.271	−0.004%	$204K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.170	−0.112%	$92.6M	$80.9M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.204	−0.076%	$46.1M	$18.8M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.173	−0.109%	$226.2M	$102.7M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.152	−0.132%	—	$54.1M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.290	+0.016%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.252	−0.025%	$29.1M	$50.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.313	+0.041%	$7.5M	$44.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.276	+0.001%	$405K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.324	+0.053%	$675K	$2.5M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.297	+0.024%	$493K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.278	+0.003%	$76K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.299	+0.026%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.265	−0.010%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.263	−0.013%	$12.7M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.193	−0.088%	$18.3M	$41.8M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.291	+0.018%	$397K	$318K	20x	as long as short
edgeX HYPEUSDClong	+0.0111%	4h	93.275	long leg	$5.1M	$29.5M	30x
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.360	+0.091%	$4.9M	$5.7M	50x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	93.160	−0.123%	$30K	$291K	12x	as long as short
Reya HYPERUSDPERP	+0.0246%	1h	93.268	−0.007%	$78K	$158K	15x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.221	−0.058%	$2.8M	$6.8M	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0296%	1h	93.375	+0.107%	$7.4M	$4.6M	50x	as long as short
HTX HYPE-USDT	+0.0301%	4h	93.485	+0.225%	$1.5M	$7.6M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0165%	1h	93.291	+0.017%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.267	−0.008%	$17.0M	$12.4M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0465%	1h	93.432	+0.169%	$19.8M	$27.0M	50x	as long as short