data as of
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Price arb /

HYPE

all HYPE markets
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

After costs, if the gap returns to its 7d average, $10k−$53
spread now−0.086%7d average+0.119%fees + slippage, in and out−$33spread needed0.327%
Long on GateShort on Phoenix
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongGate HYPE_USDT93.2280.0100pay 0.0050% / 4h3h 28m$44.1M$54.5M75x
ShortPhoenix HYPE93.1480.0386get 0.0048% / 1h28m 07s$294K$1.0M10x

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
−$8.58
Funding while held
$8.58
Slippage, 4 orders
−$10.74
Fee Gate: 7.5 bp × 2 orders
−$15
Fee Phoenix: 3.5 bp × 2 orders
−$7
Net
−$32.74
Spread needed to break even
0.327%
Slippage from Gate: live order book, 2 min ago; Phoenix: live order book, 2 min ago.

Cost of waiting

funding view
Funding /8h
+0.0286%
Per $10,000 a day
+$8.58
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Gate live order book, 2 min ago1.02 bp10.9 bp −$1117.1 bp −$17131.0 bp −$3,09660.1 bp −$30.1K
Sell Phoenix live order book, 2 min ago1.18 bp5.7 bp −$610.9 bp −$109136.1 bp −$13.6Kdoesn't fit

HYPE price on every exchange

against the cheapest. Click to use as the short leg.
Variational Omni92.740cheapestBulk92.844+0.112%edgeX92.856+0.125%ApeX Omni92.901+0.173%Aftermath Perps92.977+0.256%Hibachi93.025+0.307%Nado93.037+0.320%StandX93.046+0.330%Hotstuff93.137+0.428%BloFin93.143+0.434%
Phoenix93.148+0.440%
Arcus93.175+0.469%dYdX93.177+0.471%Kalshi93.178+0.472%Vest93.186+0.481%Aevo93.199+0.495%Ondo Perps93.200+0.496%Derive93.206+0.503%Pacifica93.212+0.509%Katana Perps93.220+0.517%
Gate93.228+0.526%
GMX93.230+0.528%Bybit93.232+0.530%BingX93.236+0.535%Bluefin93.238+0.537%KuCoin93.239+0.538%Perpl93.244+0.543%Popdex93.246+0.546%Aster93.253+0.553%Paradex93.253+0.554%gTrade (Gains Network)93.255+0.555%Bullet93.255+0.556%Phemex93.258+0.558%SoDEX93.260+0.561%Orderly93.261+0.562%MEXC93.262+0.563%Reya93.264+0.565%Polymarket Perps93.270+0.571%Coinbase International93.280+0.582%Binance93.282+0.584%OKX93.292+0.595%01 Exchange93.300+0.604%Lighter RH93.301+0.605%Backpack93.302+0.606%Hyperliquid93.307+0.611%RISEx93.308+0.612%Extended93.315+0.620%Kraken Futures93.316+0.621%Bitget93.316+0.621%Deribit93.317+0.622%Lighter93.324+0.629%SunX93.327+0.633%Injective93.380+0.690%HTX93.449+0.764%

HYPE on 54 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Variational Omni HYPE−0.523%+0.0100%8h$28.8M$51.1M—as long as short
Bulk HYPE-USD−0.412%+0.0100%1h$210K$10K10xas long as short
edgeX HYPEUSDC−0.399%+0.0104%4h$5.1M$28.8M30xas long as short
ApeX Omni HYPEUSDT−0.351%+0.0100%1h$427K$933K50xas long as short
Aftermath Perps HYPEUSD−0.269%+0.0295%1h$22K$34K10xas long as short
Hibachi HYPE/USDT-P−0.218%+0.0336%1h$194K$231K7xas long as short
Nado HYPE-PERP−0.205%+0.0100%1h$5.5M$43.0M10xas long as short
StandX HYPE-USD−0.195%+0.0100%1h$670K$2.2M20xas long as short
Hotstuff HYPE-PERP−0.098%−0.0080%1h$3K$30725xas long as short
BloFin HYPE-USDT−0.091%+0.0340%4h$17.4M$12.2M75xas long as short
Show all 54 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Phoenix HYPEshort−0.086%+0.0386%1h$294K$1.0M10x
Arcus HYPE-USD−0.057%+0.0100%1h$1.2M$4.2M10xas long as short
dYdX HYPE-USD−0.055%+0.0041%1h$127K$26K5xas long as short
Kalshi KXHYPEPERP−0.054%+0.0122%8h$1.7M$4.8M2.3xas long as short
Vest HYPE-PERP−0.045%+0.0100%1h—$407K5xas long as short
Aevo HYPE-PERP−0.031%+0.0104%1h$396K$340K20xas long as short
Ondo Perps HYPE-USD.P−0.030%+0.0100%1h$697K$987K10xas long as short
Derive HYPE-PERP−0.023%+0.0100%1h$16.4M$7.3M10xas long as short
Pacifica HYPE−0.017%+0.0100%1h$11.3M$12.4M20xas long as short
Katana Perps HYPE-USD−0.009%+0.0100%8h$40K$1.8M10xas long as short
Gate HYPE_USDTlong0.000%+0.0100%4h$44.1M$54.5M75x
GMX HYPE/USD [WBTC.b-USDC]+0.002%L +0.0354% / S −0.0174%1h$1.5M—100xas long as short
Bybit HYPEUSDT+0.004%+0.0100%8h$325.6M$286.2M75xas long as short
BingX HYPE-USDT+0.009%+0.0100%4h—$52.8M—as long as short
Bluefin HYPE-PERP+0.011%+0.4663%1h$73K$188K20xas long as short
KuCoin HYPEUSDTM+0.012%+0.0100%4h$44.9M$19.9M75xas long as short
Perpl HYPE+0.017%+0.0112%43m$31K$350K10xas long as short
Popdex HYPEUSDT+0.019%+0.0096%1h$134K$1.2M50xas long as short
Aster HYPEUSDT+0.027%+0.0100%4h$8.9M$35.6M300xas long as short
Paradex HYPE-USD-PERP+0.027%+0.0125%8h$338K$288K20xas long as short
gTrade (Gains Network) HYPE/USD+0.029%L +0.0002% / S −0.0001%1h$55K—150xas long as short
Bullet HYPE-USD+0.029%+0.0100%1h$112K$579K20xas long as short
Phemex HYPEUSDT+0.032%+0.0061%8h$12.6M$2.4M50xas long as short
SoDEX HYPE-USD+0.034%+0.0100%1h$2.0M$2.0M10xas long as short
Orderly PERP_HYPE_USDC+0.035%−0.0012%4h$170K$381K20xas long as short
MEXC HYPE_USDT+0.036%+0.0100%4h$90.8M$87.7M100xas long as short
Reya HYPERUSDPERP+0.038%+0.0229%1h$73K$159K15xas long as short
Polymarket Perps HYPE-USD+0.045%+0.0100%1h$460K$2.4M20xas long as short
Coinbase International HYPE-PERP-INTX+0.056%+0.0152%1h$5.0M$5.5M50xas long as short
Binance HYPEUSDT+0.058%+0.0100%4h$392.9M$850.3M75xas long as short
OKX HYPE-USDT-SWAP+0.069%+0.0079%8h$114.6M$315.0M50xas long as short
01 Exchange HYPEUSD+0.077%+0.0160%1h$91K$321K20xas long as short
Lighter RH HYPE+0.078%+0.0096%1h$3.2M$12.1M20xas long as short
Backpack HYPE_USDC_PERP+0.079%+0.0100%1h$8.2M$10.1M20xas long as short
Hyperliquid HYPE+0.085%+0.0152%1h$2.02B$625.5M10xas long as short
RISEx HYPE/USDC+0.086%+0.0620%1h$2.5M$7.3M20xas long as short
Extended HYPE-USD+0.093%+0.0104%1h$18.2M$42.2M50xas long as short
Kraken Futures PF_HYPEUSD+0.094%+0.0409%1h$16.4M$20.8M50xas long as short
Bitget HYPEUSDT+0.094%+0.0100%4h$228.8M$101.9M75xas long as short
Deribit HYPE_USDC-PERPETUAL+0.095%+0.0200%1h$7.4M$4.7M50xas long as short
Lighter HYPE+0.103%+0.0176%1h$18.4M$57.4M20xas long as short
SunX HYPE-USDT+0.106%+0.0100%4h$32K$1.6M20xas long as short
Injective HYPE/USDC PERP+0.163%+0.0356%1h$23K$256K12xas long as short
HTX HYPE-USDT+0.237%+0.0786%4h$1.5M$7.0M75xas long as short