Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.039%

Price spread now: Extended against HTX−0.074%7-day average −0.090% · you buy dearer than you sell

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$270.268% of the position

Long on HTX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.025%−$2 on $10k

Price spread, last 4 days (all we have)+0.100%+$10 · spread now −0.074%, 7d avg −0.090%

Together, before fees+0.075%+ Points / potential airdropExtended: Active · farm board+$7 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX HYPE-USDT	93.546	0.0100	pay 0.0050% / 4h	1h 30m	$1.4M	$6.7M	75x
Short	Extended HYPE-USD	93.477	0.0104	get 0.0013% / 1h	30m 52s	$18.2M	$43.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against HTX. 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 HTXbpFee ExtendedbpOrdersPrice spread, now −0.074%Rate

Funding earned: $0.84
Price spread: −0.074% → −0.090%: $1.66
Slippage, 4 orders: −$9.82
Fee HTX: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$24.32
Costs to cover: 0.268%
Break-even: 209.6 days

Slippage from HTX: live order book, 3 min ago; Extended: live order book, 3 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 HTX live order book, 3 min ago	2.46 bp	10.2 bp −$10	15.3 bp −$153	44.7 bp −$4,472	doesn't fit
Sell Extended live order book, 3 min ago	0.05 bp	2.6 bp −$3	3.8 bp −$38	23.9 bp −$2,388	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	−0.1008%	1h	93.437	−0.117%	$198K	$240K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0191%	1h	93.489	−0.061%	$22K	$21K	10x	as long as short
Bullet HYPE-USD	−0.0089%	1h	93.482	−0.068%	$111K	$579K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0082%	1h	93.380	−0.177%	$703K	$1.2M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.456	−0.096%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0048%	1h	93.532	−0.015%	$86K	$369K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0021%	4h	93.467	−0.084%	$145K	$685K	20x	as long as short
Bluefin HYPE-PERP	−0.0020%	1h	93.490	−0.060%	$79K	$155K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.437	−0.117%	$128K	$26K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.483	−0.068%	$20K	$290K	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit HYPEUSDT	+0.0002%	8h	93.490	−0.060%	$315.5M	$287.8M	75x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.520	−0.028%	$83K	—	150x	as long as short
BingX HYPE-USDT	+0.0002%	4h	93.494	−0.056%	—	$53.5M	—	as long as short
Derive HYPE-PERP	+0.0007%	1h	93.302	−0.260%	$16.2M	$7.5M	10x	as long as short
Phoenix HYPE	+0.0017%	1h	93.508	−0.041%	$209K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0044%	4h	93.501	−0.048%	$225.3M	$99.5M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0076%	8h	93.459	−0.093%	$334K	$161K	20x	as long as short
Arcus HYPE-USD	+0.0084%	1h	93.477	−0.074%	$1.0M	$4.0M	10x	as long as short
edgeX HYPEUSDC	+0.0084%	4h	93.440	−0.113%	$5.0M	$30.6M	30x	as long as short
Phemex HYPEUSDT	+0.0091%	8h	93.495	−0.055%	$12.8M	$2.8M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.489	−0.061%	$16.1M	$64.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.493	−0.057%	$3.1M	$11.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.499	−0.050%	$78K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.480	−0.071%	$21K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.495	−0.055%	$7.5M	$50.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.579	+0.035%	$2.05B	$682.4M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.511	−0.037%	$8.8M	$37.1M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.486	−0.064%	$10.1M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.518	−0.030%	$374.2M	$929.6M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.485	−0.065%	$115.4M	$314.8M	50x	as long as short
Gate HYPE_USDT	+0.0100%	4h	93.507	−0.042%	$48.6M	$55.3M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.514	−0.034%	$90.4M	$84.2M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.501	−0.048%	$46.3M	$18.7M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.521	−0.027%	$7.2M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.339	−0.222%	$28.7M	$56.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.469	−0.082%	$7.5M	$48.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.494	−0.056%	$354K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.466	−0.086%	$677K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.528	−0.019%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.510	−0.038%	$469K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.564	+0.019%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.489	−0.061%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDTlong	+0.0100%	4h	93.546	long leg	$1.4M	$6.7M	75x
Bulk HYPE-USD	+0.0100%	1h	93.438	−0.115%	$216K	$15K	10x	as long as short
Extended HYPE-USDshort	+0.0104%	1h	93.477	−0.074%	$18.2M	$43.2M	50x
Aevo HYPE-PERP	+0.0104%	1h	93.485	−0.065%	$395K	$159K	20x	as long as short
Kalshi KXHYPEPERP	+0.0105%	8h	93.475	−0.076%	$1.8M	$5.6M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	93.490	−0.060%	$4.7M	$6.1M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0152% / S +0.0022%	1h	93.515	−0.033%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	93.460	−0.092%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0271%	1h	93.476	−0.075%	$77K	$129K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0274%	1h	93.582	+0.038%	$7.5M	$4.2M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.489	−0.061%	$16.9M	$12.2M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0416%	1h	93.566	+0.022%	$20.9M	$29.6M	50x	as long as short
RISEx HYPE/USDC	+0.0559%	1h	93.547	+0.001%	$3.2M	$6.4M	20x	as long as short