Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:31 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.023%

Price spread now: Perpl against Extended+0.057%7-day average +0.056% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Extended Short on Perpl

What this pair did over the last

the charts below follow

Funding, last 7 days−0.170%−$17 on $10k

Price spread, last 4 days (all we have)+0.281%+$28 · spread now +0.057%, 7d avg +0.056%

Together, before fees+0.111%+ Points / potential airdropExtended: Active · Perpl: Active · farm board+$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.056%, so right now this pair is about funding alone: −$3 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	92.815	0.0104	pay 0.0013% / 1h	28m 29s	$18.0M	$43.6M	50x
Short	Perpl HYPE	92.868	0	get 0.0000% / 43m	25m 29s	$22K	$295K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Perpl 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 PerplbpOrdersPrice spread, now +0.057%Rate

Funding earned: −$21.84
Price spread: +0.057% → +0.056%: $0.09
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Net: −$40.55
Costs to cover: 0.188%
Break-even: never at this rate

Slippage unknown: Extended: live order book, 6 min ago; Perpl: no order-book sample. Net counts fees only.

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, 6 min ago	0.05 bp	2.6 bp −$3	5.7 bp −$57	26.3 bp −$2,626	doesn't fit
Sell Perpl no order-book sample	—	—	—	—	—

Perpl: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1568%	1h	92.719	−0.103%	$193K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0304%	1h	92.866	+0.055%	$22K	$21K	10x	as long as short
Arcus HYPE-USD	−0.0194%	1h	92.829	+0.015%	$1.1M	$3.9M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.866	+0.055%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0061%	4h	92.842	+0.029%	$145K	$681K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.906	+0.098%	$127K	$29K	5x	as long as short
Perpl HYPEshort	0.0000%	43m	92.868	+0.057%	$22K	$295K	10x
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.890	+0.081%	$62K	—	150x	as long as short
Bullet HYPE-USD	+0.0016%	1h	92.810	−0.006%	$111K	$577K	20x	as long as short
Phoenix HYPE	+0.0026%	1h	92.857	+0.045%	$210K	$1.2M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps HYPE-USD.P	+0.0030%	1h	92.810	−0.006%	$699K	$1.1M	10x	as long as short
Bybit HYPEUSDT	+0.0032%	8h	92.845	+0.032%	$315.6M	$282.6M	75x	as long as short
01 Exchange HYPEUSD	+0.0040%	1h	92.857	+0.045%	$86K	$363K	20x	as long as short
Phemex HYPEUSDT	+0.0048%	8h	92.901	+0.093%	$12.5M	$2.7M	50x	as long as short
Bitget HYPEUSDT	+0.0054%	4h	92.853	+0.041%	$224.9M	$99.2M	75x	as long as short
Popdex HYPEUSDT	+0.0064%	1h	92.845	+0.032%	$70K	$1.1M	50x	as long as short
Lighter HYPE	+0.0096%	1h	92.876	+0.066%	$16.0M	$62.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.884	+0.074%	$3.1M	$11.6M	20x	as long as short
edgeX HYPEUSDC	+0.0097%	4h	92.935	+0.129%	$4.9M	$29.6M	30x	as long as short
Gate HYPE_USDT	+0.0098%	4h	92.852	+0.040%	$45.0M	$54.3M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	92.881	+0.071%	$339K	$163K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.860	+0.048%	$34K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.858	+0.047%	$7.4M	$46.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.892	+0.083%	$2.02B	$666.6M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	92.861	+0.049%	$8.7M	$36.1M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	92.871	+0.061%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.847	+0.035%	$373.3M	$905.6M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	92.850	+0.038%	$113.9M	$304.1M	50x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.839	+0.026%	$91.4M	$81.0M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.847	+0.034%	$46.1M	$18.4M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	92.857	+0.045%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.879	+0.069%	$7.2M	$11.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.959	+0.155%	$28.6M	$57.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.003	+0.203%	$7.5M	$46.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.975	+0.172%	$341K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.879	+0.069%	$668K	$2.9M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.905	+0.097%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.881	+0.071%	$471K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.864	+0.053%	$79K	$167K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.847	+0.035%	$16.0M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.942	+0.137%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.864	+0.053%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.005	+0.205%	$1.4M	$6.3M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.770	−0.049%	$202K	$13K	10x	as long as short
Extended HYPE-USDlong	+0.0104%	1h	92.815	long leg	$18.0M	$43.6M	50x
Aevo HYPE-PERP	+0.0104%	1h	92.847	+0.034%	$393K	$164K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.040	+0.242%	$4.7M	$5.6M	50x	as long as short
Kalshi KXHYPEPERP	+0.0175%	8h	92.939	+0.133%	$1.8M	$5.4M	2.3x	as long as short
Kraken Futures PF_HYPEUSD	+0.0197%	1h	92.925	+0.118%	$20.6M	$30.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0242%	1h	92.790	−0.027%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0265%	1h	92.837	+0.023%	$79K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.885	+0.075%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.881	+0.071%	$16.8M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0364%	1h	92.948	+0.143%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0598%	1h	92.910	+0.103%	$3.2M	$6.4M	20x	as long as short