Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.045%

Price spread now: Vest against Hyperliquid+0.014%7-day average −0.049% · you sell dearer than you buy

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

Long on Hyperliquid Short on Vest

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.179%−$18 on $10k

Price spread, last 4 days (all we have)+0.192%+$19 · spread now +0.014%, 7d avg −0.049%

Together, before fees+0.013%+ Points / potential airdropHyperliquid: Season 2 · Vest: Active · farm board+$1 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Vest is 0.063% dearer against Hyperliquid than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid HYPE	93.474	0.0100	pay 0.0013% / 1h	54m 08s	$2.04B	$665.2M	10x
Short	Vest HYPE-PERP	93.487	0.0100	get 0.0013% / 1h	54m 08s	—	$243K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest against Hyperliquid. 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 HyperliquidbpFee VestbpOrdersPrice spread, now +0.014%Rate

Funding earned: $0
Price spread: +0.014% → −0.049%: $6.29
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Vest: 1 bp × 2 orders: −$2
Net: −$4.71
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 10 min ago; Vest: 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 Hyperliquid live order book, 10 min ago	0.05 bp	4.7 bp −$5	5.7 bp −$57	doesn't fit	doesn't fit
Sell Vest no order-book sample	—	—	—	—	—

Vest: 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	−0.1904%	1h	93.390	−0.090%	$196K	$232K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0363%	1h	93.429	−0.049%	$22K	$21K	10x	as long as short
Bullet HYPE-USD	−0.0165%	1h	93.384	−0.097%	$112K	$578K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.434	−0.043%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0040%	1h	93.407	−0.072%	$87K	$365K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0035%	4h	93.401	−0.078%	$146K	$663K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0022%	1h	93.540	+0.071%	$705K	$1.2M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.453	−0.023%	$128K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.423	−0.054%	$22K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.436	−0.041%	$62K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus HYPE-USD	+0.0011%	1h	93.366	−0.116%	$1.0M	$3.9M	10x	as long as short
Bitget HYPEUSDT	+0.0022%	4h	93.424	−0.053%	$226.1M	$99.1M	75x	as long as short
Bybit HYPEUSDT	+0.0024%	8h	93.420	−0.058%	$317.7M	$283.6M	75x	as long as short
Phemex HYPEUSDT	+0.0025%	8h	93.449	−0.027%	$12.6M	$2.7M	50x	as long as short
Phoenix HYPE	+0.0026%	1h	93.546	+0.077%	$209K	$1.2M	10x	as long as short
Bluefin HYPE-PERP	+0.0058%	1h	93.409	−0.070%	$79K	$167K	20x	as long as short
Gate HYPE_USDT	+0.0092%	4h	93.396	−0.083%	$46.3M	$53.8M	75x	as long as short
edgeX HYPEUSDC	+0.0092%	4h	93.577	+0.111%	$5.0M	$29.9M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	93.444	−0.032%	$340K	$162K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.446	−0.030%	$16.1M	$62.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.451	−0.025%	$3.1M	$11.4M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.393	−0.087%	$77K	$1.1M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.420	−0.058%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.405	−0.074%	$7.0M	$47.8M	10x	as long as short
Hyperliquid HYPElong	+0.0100%	1h	93.474	long leg	$2.04B	$665.2M	10x
Aster HYPEUSDT	+0.0100%	4h	93.429	−0.048%	$8.7M	$36.4M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.433	−0.044%	$10.1M	$15.3M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.433	−0.044%	$374.7M	$910.7M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.427	−0.050%	$114.8M	$308.1M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.328	−0.156%	$203K	$3K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.450	−0.026%	$92.0M	$80.1M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.421	−0.057%	$46.6M	$18.5M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.425	−0.052%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.440	−0.036%	$7.3M	$11.1M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.529	+0.058%	$28.7M	$56.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.637	+0.174%	$7.6M	$47.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.532	+0.062%	$343K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.573	+0.106%	$669K	$2.9M	20x	as long as short
Vest HYPE-PERPshort	+0.0100%	1h	93.487	+0.014%	—	$243K	5x
Polymarket Perps HYPE-USD	+0.0100%	1h	93.443	−0.033%	$490K	$2.7M	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.399	−0.080%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.382	−0.098%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.435	−0.042%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.580	+0.113%	$1.4M	$6.4M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.399	−0.080%	$18.1M	$43.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.409	−0.069%	$395K	$161K	20x	as long as short
Injective HYPE/USDC PERP	+0.0122%	1h	93.470	−0.004%	$30K	$339K	12x	as long as short
Kalshi KXHYPEPERP	+0.0133%	8h	93.420	−0.058%	$1.8M	$5.6M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.470	−0.004%	$4.8M	$5.6M	50x	as long as short
Reya HYPERUSDPERP	+0.0267%	1h	93.391	−0.089%	$80K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0154%	1h	93.431	−0.046%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.441	−0.035%	$16.9M	$11.9M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0341%	1h	93.508	+0.036%	$20.8M	$29.6M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0392%	1h	93.518	+0.047%	$7.5M	$4.0M	50x	as long as short
RISEx HYPE/USDC	+0.0527%	1h	93.450	−0.026%	$3.2M	$6.3M	20x	as long as short