Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h −0.041%

Price spread now: StandX against HTX−0.180%7-day average −0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$300.298% of the position

Long on HTX Short on StandX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.041%−$4 on $10k

Price spread, last 4 days (all we have)+0.575%+$57 · spread now −0.180%, 7d avg −0.046%

Together, before fees+0.534%+ Points / potential airdropStandX: Active · farm board+$53 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and StandX is 0.134% cheaper against HTX than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.046%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX HYPE-USDT	93.433	0.0133	pay 0.0067% / 4h	1h 09m	$1.4M	$6.0M	75x
Short	StandX HYPE-USD	93.265	0.0100	get 0.0013% / 1h	9m 59s	$666K	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

StandX 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 StandXbpOrdersPrice spread, now −0.180%Rate

Funding earned: −$6.97
Price spread: −0.180% → −0.046%: −$13.37
Slippage, 4 orders: −$9.77
Fee HTX: 6 bp × 2 orders: −$12
Fee StandX: 4 bp × 2 orders: −$8
Net: −$50.12
Costs to cover: 0.298%
Break-even: never at this rate

Slippage from HTX: live order book, 4 min ago; StandX: live order book, 4 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, 4 min ago	2.63 bp	9.6 bp −$10	13.6 bp −$136	50.2 bp −$5,016	doesn't fit
Sell StandX live order book, 4 min ago	1.29 bp	5.4 bp −$5	5.6 bp −$56	13.3 bp −$1,334	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	−0.0984%	1h	93.267	−0.177%	$197K	$226K	7x	as long as short
Arcus HYPE-USD	−0.0899%	1h	93.182	−0.269%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0129%	1h	93.170	−0.281%	$698K	$1.0M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.300	−0.142%	$3K	$331	25x	as long as short
Aftermath Perps HYPEUSD	−0.0074%	1h	93.238	−0.208%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0048%	1h	93.309	−0.133%	$85K	$345K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0048%	4h	93.217	−0.231%	$155K	$654K	20x	as long as short
Phemex HYPEUSDT	−0.0011%	8h	93.219	−0.229%	$12.6M	$2.7M	50x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.319	−0.122%	$128K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.259	−0.186%	$23K	$319K	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.252	−0.194%	$63K	—	150x	as long as short
Bullet HYPE-USD	+0.0005%	1h	93.217	−0.231%	$111K	$579K	20x	as long as short
Aster HYPEUSDT	+0.0024%	4h	93.261	−0.184%	$8.8M	$35.9M	300x	as long as short
Phoenix HYPE	+0.0026%	1h	93.156	−0.296%	$212K	$1.2M	10x	as long as short
BingX HYPE-USDT	+0.0036%	4h	93.207	−0.242%	—	$53.0M	—	as long as short
Gate HYPE_USDT	+0.0046%	4h	93.217	−0.231%	$44.5M	$55.5M	75x	as long as short
Bybit HYPEUSDT	+0.0047%	8h	93.178	−0.273%	$320.5M	$277.0M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0074%	8h	93.171	−0.280%	$113.7M	$299.2M	50x	as long as short
Derive HYPE-PERP	+0.0086%	1h	93.202	−0.247%	$16.2M	$7.5M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.246	−0.200%	$16.2M	$62.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.243	−0.203%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.290	−0.153%	$67K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.336	−0.104%	$340K	$162K	20x	as long as short
MEXC HYPE_USDT	+0.0098%	4h	93.147	−0.306%	$89.4M	$81.2M	100x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.199	−0.251%	$376.8M	$880.4M	75x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.230	−0.217%	$24K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.290	−0.154%	$5.8M	$43.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.252	−0.194%	$2.03B	$657.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.337	−0.103%	$10.0M	$14.8M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.231	−0.216%	$45.8M	$18.2M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.152	−0.301%	$225.3M	$96.4M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.186	−0.264%	$7.4M	$10.2M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.197	−0.253%	$31.4M	$53.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.122	−0.333%	$7.5M	$46.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.125	−0.330%	$338K	$998K	50x	as long as short
StandX HYPE-USDshort	+0.0100%	1h	93.265	−0.180%	$666K	$2.7M	20x
Vest HYPE-PERP	+0.0100%	1h	93.325	−0.116%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.299	−0.143%	$473K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.197	−0.253%	$79K	$167K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.323	−0.118%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.238	−0.209%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.155	−0.298%	$203K	$10K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.117	−0.338%	$18.3M	$42.8M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.233	−0.214%	$397K	$162K	20x	as long as short
edgeX HYPEUSDC	+0.0112%	4h	93.083	−0.375%	$5.0M	$28.9M	30x	as long as short
HTX HYPE-USDTlong	+0.0133%	4h	93.433	long leg	$1.4M	$6.0M	75x
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.300	−0.142%	$4.8M	$5.5M	50x	as long as short
Reya HYPERUSDPERP	+0.0259%	1h	93.213	−0.236%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0269%	8h	93.302	−0.140%	$1.9M	$5.2M	2.3x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0308%	1h	93.304	−0.138%	$7.4M	$4.3M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0156%	1h	93.251	−0.194%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0338%	4h	93.247	−0.199%	$17.0M	$11.5M	75x	as long as short
RISEx HYPE/USDC	+0.0510%	1h	93.387	−0.049%	$3.2M	$6.3M	20x	as long as short
Injective HYPE/USDC PERP	+0.0519%	1h	93.160	−0.292%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0686%	1h	93.312	−0.130%	$20.7M	$29.8M	50x	as long as short