Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0144%/8h= +15.8% APRpaid last 24h +0.048%

Price spread now: MEXC against Hotstuff−0.056%7-day average — · you buy dearer than you sell

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

Long on Hotstuff Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Funding pays, the price is against you. MEXC is 0.056% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.056% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 31 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff HYPE-PERP	93.373	−0.0080	get 0.0010% / 1h	13m 22s	$3K	$331	25x
Short	MEXC HYPE_USDT	93.321	0.0064	get 0.0032% / 4h	1h 13m	$90.2M	$82.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Hotstuff. 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 HotstuffbpFee MEXCbpOrdersPrice spread, now −0.056%Rate

Funding earned: $30.24
Price spread: −0.056% → 0.000%: −$5.57
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee MEXC: 2 bp × 2 orders: −$4
Net: $15.67
Costs to cover: 0.090%
Break-even: 3.4 days

Slippage unknown: Hotstuff: no order-book sample; MEXC: live order book, 6 min ago. 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 Hotstuff no order-book sample	—	—	—	—	—
Sell MEXC live order book, 6 min ago	0.05 bp	2.1 bp −$2	6.0 bp −$60	13.1 bp −$1,310	39.3 bp −$19.7K

Hotstuff: 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
Aftermath Perps HYPEUSD	−0.0447%	1h	93.240	−0.143%	$22K	$22K	10x	as long as short
Hibachi HYPE/USDT-P	−0.0352%	1h	93.222	−0.161%	$197K	$230K	7x	as long as short
Arcus HYPE-USD	−0.0131%	1h	93.238	−0.145%	$1.2M	$3.9M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0125%	1h	93.310	−0.067%	$699K	$934K	10x	as long as short
Hotstuff HYPE-PERPlong	−0.0080%	1h	93.373	long leg	$3K	$331	25x
01 Exchange HYPEUSD	−0.0024%	1h	93.321	−0.056%	$90K	$360K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.388	+0.016%	$127K	$32K	5x	as long as short
Popdex HYPEUSDT	0.0000%	1h	93.285	−0.094%	$57K	$1.2M	50x	as long as short
Perpl HYPE	0.0000%	43m	93.303	−0.075%	$23K	$330K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.325	−0.052%	$27K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0003%	4h	93.331	−0.045%	$8.9M	$35.8M	300x	as long as short
Orderly PERP_HYPE_USDC	+0.0019%	4h	93.329	−0.047%	$172K	$519K	20x	as long as short
Bybit HYPEUSDT	+0.0022%	8h	93.290	−0.089%	$323.1M	$283.8M	75x	as long as short
Phoenix HYPE	+0.0034%	1h	93.249	−0.133%	$214K	$1.2M	10x	as long as short
Bullet HYPE-USD	+0.0041%	1h	93.295	−0.083%	$112K	$578K	20x	as long as short
Derive HYPE-PERP	+0.0047%	1h	93.257	−0.124%	$16.3M	$7.0M	10x	as long as short
Gate HYPE_USDT	+0.0060%	4h	93.323	−0.054%	$44.0M	$58.7M	75x	as long as short
MEXC HYPE_USDTshort	+0.0064%	4h	93.321	−0.056%	$90.2M	$82.3M	100x
Binance HYPEUSDT	+0.0067%	4h	93.313	−0.065%	$382.0M	$893.5M	75x	as long as short
edgeX HYPEUSDC	+0.0085%	4h	93.171	−0.216%	$5.1M	$29.7M	30x	as long as short
Lighter HYPE	+0.0096%	1h	93.371	−0.002%	$18.6M	$59.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.388	+0.016%	$3.1M	$12.2M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.315	−0.062%	$397K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.352	−0.022%	$339K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.260	−0.121%	$35K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.347	−0.027%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.316	−0.061%	$2.03B	$669.8M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.344	−0.031%	$10.0M	$14.4M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.291	−0.088%	$114.2M	$313.3M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.232	−0.151%	$204K	$8K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.327	−0.049%	$47.0M	$18.7M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.307	−0.071%	$226.3M	$102.8M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.294	−0.085%	—	$53.7M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.400	+0.029%	$7.9M	$10.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.203	−0.182%	$29.0M	$50.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.199	−0.186%	$7.5M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.153	−0.236%	$414K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.269	−0.111%	$675K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.323	−0.054%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.304	−0.074%	$493K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.298	−0.080%	$76K	$167K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.349	−0.026%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.310	−0.067%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.278	−0.102%	$12.7M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.281	−0.099%	$18.2M	$41.7M	50x	as long as short
Kalshi KXHYPEPERP	+0.0117%	8h	93.425	+0.056%	$1.9M	$5.3M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.440	+0.072%	$4.9M	$5.7M	50x	as long as short
HTX HYPE-USDT	+0.0229%	4h	93.513	+0.150%	$1.5M	$7.7M	75x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	93.420	+0.050%	$30K	$338K	12x	as long as short
Reya HYPERUSDPERP	+0.0247%	1h	93.279	−0.100%	$77K	$159K	15x	as long as short
BloFin HYPE-USDT	+0.0268%	4h	93.316	−0.061%	$16.8M	$12.4M	75x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.341	−0.034%	$2.7M	$6.8M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0165%	1h	93.318	−0.059%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0371%	1h	93.407	+0.036%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0465%	1h	93.439	+0.071%	$20.9M	$29.0M	50x	as long as short