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Price arb /

HYPE

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Spread before costs (cost unknown: a leg has no order-book sample)−0.379%
7d average−0.185%if it closes, per $10,000$38funding while held, a day−$9.38
Long on InjectiveShort on dYdX
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongInjective HYPE/USDC PERP93.6400.0356pay 0.0044% / 1h13m 19s$24K$257K12x
ShortdYdX HYPE-USD93.2850.0043get 0.0005% / 1h13m 19s$127K$26K5x

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
−$37.93
Funding while held
−$9.38
Slippage, 4 orders
no order book: not counted
Fee Injective: 0.01 bp × 2 orders
−$0.02
Fee dYdX: 5 bp × 2 orders
−$10
Net
−$57.33
Spread needed to break even
0.100%
Slippage unknown: Injective: live order book, 32 min ago; dYdX: live order book, 32 min ago. Net counts fees only.

Cost of waiting

funding view
Funding /8h
−0.0313%
Per $10,000 a day
−$9.38
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 Injective live order book, 32 min ago12.36 bpdoesn't fitdoesn't fitdoesn't fitdoesn't fit
Sell dYdX live order book, 32 min ago25.45 bp30.5 bp −$3073.1 bp −$731151.2 bp −$15.1K668.8 bp −$334.4K

HYPE price on every exchange

against the cheapest. Click to use as the short leg.
Variational Omni93.150cheapestBybit93.180+0.032%Hibachi93.181+0.033%Arcus93.186+0.039%Katana Perps93.200+0.054%Gate93.207+0.061%BingX93.207+0.061%Bitget93.212+0.066%OKX93.213+0.068%Derive93.213+0.068%GMX93.221+0.076%Nado93.222+0.078%KuCoin93.228+0.084%Bullet93.232+0.088%Bluefin93.235+0.091%MEXC93.237+0.093%Binance93.240+0.096%gTrade (Gains Network)93.240+0.096%Vest93.244+0.101%Orderly93.248+0.105%Reya93.248+0.105%Popdex93.250+0.107%SoDEX93.250+0.107%Extended93.251+0.109%Aster93.258+0.116%Polymarket Perps93.260+0.118%Phemex93.261+0.119%Aevo93.266+0.124%Aftermath Perps93.267+0.125%Phoenix93.271+0.130%Pacifica93.278+0.137%
dYdX93.285+0.145%
01 Exchange93.288+0.148%Kraken Futures93.288+0.148%Lighter RH93.289+0.149%Perpl93.289+0.149%Ondo Perps93.290+0.150%StandX93.292+0.152%RISEx93.295+0.156%Backpack93.299+0.160%Hotstuff93.302+0.163%SunX93.308+0.169%Paradex93.316+0.178%BloFin93.324+0.187%Deribit93.328+0.191%Lighter93.337+0.200%Hyperliquid93.341+0.204%ApeX Omni93.342+0.206%edgeX93.347+0.211%Bulk93.350+0.215%Kalshi93.367+0.233%Coinbase International93.370+0.236%HTX93.450+0.322%
Injective93.640+0.526%

HYPE on 54 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Variational Omni HYPE−0.523%+0.0100%8h$29.0M$50.4M—as long as short
Bybit HYPEUSDT−0.491%+0.0100%8h$326.0M$282.9M75xas long as short
Hibachi HYPE/USDT-P−0.490%−0.0200%1h$195K$231K7xas long as short
Arcus HYPE-USD−0.485%+0.0100%1h$1.2M$4.0M10xas long as short
Katana Perps HYPE-USD−0.470%+0.0100%8h$40K$1.8M10xas long as short
Gate HYPE_USDT−0.462%+0.0100%4h$44.1M$54.9M75xas long as short
BingX HYPE-USDT−0.462%+0.0100%4h—$51.8M—as long as short
Bitget HYPEUSDT−0.457%+0.0100%4h$228.7M$99.9M75xas long as short
OKX HYPE-USDT-SWAP−0.456%+0.0100%8h$114.9M$311.7M50xas long as short
Derive HYPE-PERP−0.456%+0.0100%1h$16.4M$7.2M10xas long as short
Show all 54 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
GMX HYPE/USD [WBTC.b-USDC]−0.448%L +0.0356% / S −0.0177%1h$1.5M—100xas long as short
Nado HYPE-PERP−0.446%+0.0100%1h$6.1M$43.3M10xas long as short
KuCoin HYPEUSDTM−0.440%+0.0100%4h$45.2M$19.8M75xas long as short
Bullet HYPE-USD−0.435%+0.0100%1h$112K$581K20xas long as short
Bluefin HYPE-PERP−0.433%+0.3019%1h$73K$186K20xas long as short
MEXC HYPE_USDT−0.430%+0.0100%4h$89.3M$89.1M100xas long as short
Binance HYPEUSDT−0.427%+0.0100%4h$391.0M$845.4M75xas long as short
gTrade (Gains Network) HYPE/USD−0.427%L +0.0002% / S −0.0001%1h$55K—150xas long as short
Vest HYPE-PERP−0.423%+0.0100%1h—$407K5xas long as short
Orderly PERP_HYPE_USDC−0.419%+0.0014%4h$170K$355K20xas long as short
Reya HYPERUSDPERP−0.418%+0.0231%1h$73K$153K15xas long as short
Popdex HYPEUSDT−0.416%+0.0096%1h$134K$1.1M50xas long as short
SoDEX HYPE-USD−0.416%+0.0100%1h$2.0M$2.0M10xas long as short
Extended HYPE-USD−0.415%+0.0104%1h$18.2M$41.9M50xas long as short
Aster HYPEUSDT−0.408%+0.0100%4h$8.9M$35.2M300xas long as short
Polymarket Perps HYPE-USD−0.406%+0.0100%1h$458K$2.4M20xas long as short
Phemex HYPEUSDT−0.405%+0.0091%8h$12.6M$2.4M50xas long as short
Aevo HYPE-PERP−0.400%+0.0104%1h$397K$340K20xas long as short
Aftermath Perps HYPEUSD−0.398%+0.0300%1h$22K$34K10xas long as short
Phoenix HYPE−0.394%+0.0386%1h$294K$1.0M10xas long as short
Pacifica HYPE−0.387%+0.0100%1h$11.4M$12.4M20xas long as short
dYdX HYPE-USDshort−0.379%+0.0043%1h$127K$26K5x
01 Exchange HYPEUSD−0.376%+0.0160%1h$91K$317K20xas long as short
Kraken Futures PF_HYPEUSD−0.376%+0.0409%1h$16.3M$20.8M50xas long as short
Lighter RH HYPE−0.375%+0.0096%1h$3.1M$12.3M20xas long as short
Perpl HYPE−0.375%+0.0112%43m$31K$347K10xas long as short
Ondo Perps HYPE-USD.P−0.374%+0.0100%1h$699K$986K10xas long as short
StandX HYPE-USD−0.372%+0.0100%1h$672K$2.3M20xas long as short
RISEx HYPE/USDC−0.368%+0.0620%1h$2.6M$7.1M20xas long as short
Backpack HYPE_USDC_PERP−0.364%+0.0100%1h$8.5M$10.1M20xas long as short
Hotstuff HYPE-PERP−0.361%−0.0080%1h$3K$30725xas long as short
SunX HYPE-USDT−0.355%+0.0100%4h$32K$1.6M20xas long as short
Paradex HYPE-USD-PERP−0.346%+0.0120%8h$338K$287K20xas long as short
BloFin HYPE-USDT−0.337%+0.0340%4h$17.6M$11.7M75xas long as short
Deribit HYPE_USDC-PERPETUAL−0.333%+0.0147%1h$7.4M$4.3M50xas long as short
Lighter HYPE−0.324%+0.0160%1h$18.3M$58.2M20xas long as short
Hyperliquid HYPE−0.320%+0.0362%1h$2.03B$620.1M10xas long as short
ApeX Omni HYPEUSDT−0.318%+0.0100%1h$429K$926K50xas long as short
edgeX HYPEUSDC−0.313%+0.0102%4h$5.1M$29.1M30xas long as short
Bulk HYPE-USD−0.310%+0.0100%1h$204K$8K10xas long as short
Kalshi KXHYPEPERP−0.292%+0.0125%8h$1.7M$4.8M2.3xas long as short
Coinbase International HYPE-PERP-INTX−0.288%+0.0152%1h$5.0M$5.3M50xas long as short
HTX HYPE-USDT−0.203%+0.0935%4h$1.5M$7.1M75xas long as short
Injective HYPE/USDC PERPlong0.000%+0.0356%1h$24K$257K12x