Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0031%/8h= −3.4% APRpaid last 24h −0.025%

Price spread now: OKX against Extended−0.004%7-day average +0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$180.178% of the position

Long on Extended Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.082%−$8 on $10k

Price spread, last 7 days+0.011%+$1 · spread now −0.004%, 7d avg +0.016%

Together, before fees−0.071%+ Points / potential airdropExtended: Active · farm board−$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.016%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended HYPE-USD	92.960	0.0104	pay 0.0013% / 1h	7m 30s	$18.3M	$42.8M	50x
Short	OKX HYPE-USDT-SWAP	92.956	0.0073	get 0.0073% / 8h	5h 07m	$113.4M	$298.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Extended. 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 ExtendedbpFee OKXbpOrdersPrice spread, now −0.004%Rate

Funding earned: −$6.47
Price spread: −0.004% → +0.016%: −$2
Slippage, 4 orders: −$2.84
Fee Extended: 2.5 bp × 2 orders: −$5
Fee OKX: 5 bp × 2 orders: −$10
Net: −$26.31
Costs to cover: 0.178%
Break-even: never at this rate

Slippage from Extended: live order book, 2 min ago; OKX: live order book, 2 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 Extended live order book, 2 min ago	0.05 bp	3.0 bp −$3	6.8 bp −$68	23.7 bp −$2,367	doesn't fit
Sell OKX live order book, 2 min ago	0.05 bp	5.2 bp −$5	8.9 bp −$89	18.0 bp −$1,800	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	−0.0944%	1h	93.076	+0.124%	$197K	$226K	7x	as long as short
Arcus HYPE-USD	−0.0899%	1h	92.875	−0.091%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0132%	1h	93.080	+0.129%	$698K	$1.0M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.031	+0.076%	$3K	$331	25x	as long as short
Aftermath Perps HYPEUSD	−0.0078%	1h	93.224	+0.284%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0056%	1h	92.973	+0.014%	$86K	$346K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0049%	4h	93.042	+0.088%	$154K	$654K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.069	+0.117%	$128K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.064	+0.112%	$23K	$316K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.093	+0.143%	$62K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet HYPE-USD	+0.0004%	1h	93.050	+0.097%	$111K	$579K	20x	as long as short
Phemex HYPEUSDT	+0.0007%	8h	93.097	+0.147%	$12.6M	$2.7M	50x	as long as short
Aster HYPEUSDT	+0.0016%	4h	93.022	+0.067%	$8.8M	$35.8M	300x	as long as short
Phoenix HYPE	+0.0026%	1h	93.210	+0.269%	$213K	$1.2M	10x	as long as short
BingX HYPE-USDT	+0.0038%	4h	92.997	+0.040%	—	$52.9M	—	as long as short
Gate HYPE_USDT	+0.0042%	4h	92.998	+0.041%	$44.4M	$55.6M	75x	as long as short
Bybit HYPEUSDT	+0.0047%	8h	92.960	0.000%	$319.8M	$276.6M	75x	as long as short
OKX HYPE-USDT-SWAPshort	+0.0073%	8h	92.956	−0.004%	$113.4M	$298.2M	50x
Derive HYPE-PERP	+0.0087%	1h	93.019	+0.063%	$16.1M	$7.5M	10x	as long as short
MEXC HYPE_USDT	+0.0094%	4h	92.988	+0.030%	$89.3M	$81.2M	100x	as long as short
Binance HYPEUSDT	+0.0095%	4h	92.982	+0.023%	$376.1M	$879.5M	75x	as long as short
Lighter HYPE	+0.0096%	1h	93.008	+0.052%	$16.2M	$62.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.023	+0.068%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.965	+0.005%	$67K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0096%	8h	93.045	+0.092%	$339K	$162K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	92.990	+0.032%	$24K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.985	+0.028%	$5.8M	$43.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.083	+0.132%	$2.03B	$653.8M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.020	+0.065%	$10.0M	$14.8M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.028	+0.073%	$45.7M	$18.2M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.961	+0.001%	$224.8M	$96.3M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.016	+0.060%	$7.3M	$10.0M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.197	+0.255%	$31.4M	$53.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.172	+0.228%	$7.5M	$46.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.081	+0.130%	$338K	$998K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.112	+0.164%	$666K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.035	+0.081%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.012	+0.056%	$470K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.017	+0.061%	$79K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.048	+0.095%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.042	+0.088%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.155	+0.210%	$203K	$10K	10x	as long as short
Extended HYPE-USDlong	+0.0104%	1h	92.960	long leg	$18.3M	$42.8M	50x
Aevo HYPE-PERP	+0.0104%	1h	93.026	+0.071%	$396K	$162K	20x	as long as short
edgeX HYPEUSDC	+0.0114%	4h	93.123	+0.176%	$5.0M	$28.9M	30x	as long as short
HTX HYPE-USDT	+0.0124%	4h	93.200	+0.258%	$1.4M	$6.0M	75x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.120	+0.172%	$4.8M	$5.5M	50x	as long as short
Reya HYPERUSDPERP	+0.0259%	1h	92.961	+0.002%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0271%	8h	93.109	+0.160%	$1.9M	$5.2M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0156%	1h	93.078	+0.127%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.118	+0.170%	$16.9M	$11.5M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0416%	1h	93.152	+0.207%	$7.4M	$4.3M	50x	as long as short
RISEx HYPE/USDC	+0.0510%	1h	93.078	+0.127%	$3.2M	$6.3M	20x	as long as short
Injective HYPE/USDC PERP	+0.0519%	1h	93.390	+0.463%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0687%	1h	93.109	+0.160%	$20.7M	$29.8M	50x	as long as short