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Price arb /

HYPE

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Spread before costs (cost unknown: a leg has no order-book sample)−0.908%
7d average−0.205%if it closes, per $10,000$91funding while held, a day+$0.53
Long on InjectiveShort on Variational Omni
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongInjective HYPE/USDC PERP93.6400.0082pay 0.0010% / 1h35m 40s$24K$167K12x
ShortVariational Omni HYPE92.7900.0100get 0.0100% / 8h6h 35m$28.8M$50.0M—

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
−$90.76
Funding while held
$0.53
Slippage, 4 orders
no order book: not counted
Fee Injective: 0.01 bp × 2 orders
−$0.02
Fee Variational Omni: 0 bp × 2 orders
$0
Net
−$90.25
Spread needed to break even
0.000%
Slippage unknown: Injective: live order book, 5 min ago; Variational Omni: RFQ quote, 5 min ago. Net counts fees only.

Cost of waiting

funding view
Funding /8h
+0.0018%
Per $10,000 a day
+$0.53
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, 5 min ago50.44 bpdoesn't fitdoesn't fitdoesn't fitdoesn't fit
Sell Variational Omni RFQ quote, 5 min ago0.43 bpdoesn't fit7.0 bp −$7026.8 bp −$2,678doesn't fit

HYPE price on every exchange

against the cheapest. Click to use as the short leg.
Variational Omni92.790cheapest
ApeX Omni92.848+0.062%edgeX92.871+0.087%Ondo Perps92.900+0.118%Phoenix92.929+0.150%Vest92.945+0.167%Hibachi92.951+0.173%Perpl92.955+0.177%Popdex92.960+0.183%Aftermath Perps92.962+0.185%Hotstuff92.962+0.185%BloFin92.964+0.187%GMX92.970+0.194%Reya92.975+0.200%Kalshi92.976+0.200%Polymarket Perps92.985+0.210%Aevo92.991+0.216%Derive92.997+0.223%Bullet93.001+0.227%Arcus93.010+0.237%StandX93.013+0.240%Nado93.019+0.247%Bulk93.023+0.252%gTrade (Gains Network)93.029+0.257%Orderly93.056+0.287%Bybit93.060+0.291%SoDEX93.060+0.291%Phemex93.065+0.296%Katana Perps93.070+0.302%Aster93.077+0.309%KuCoin93.084+0.317%BingX93.090+0.323%Bluefin93.090+0.323%dYdX93.091+0.324%SunX93.091+0.324%OKX93.094+0.328%Bitget93.095+0.329%Gate93.096+0.330%Coinbase International93.100+0.334%Backpack93.101+0.335%Binance93.103+0.337%Extended93.104+0.339%Pacifica93.105+0.340%Kraken Futures93.108+0.342%MEXC93.117+0.352%Deribit93.126+0.362%Lighter RH93.128+0.364%01 Exchange93.137+0.374%Paradex93.142+0.379%Lighter93.154+0.392%Hyperliquid93.159+0.398%RISEx93.183+0.423%HTX93.250+0.496%
Injective93.640+0.916%

HYPE on 54 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Variational Omni HYPEshort−0.908%+0.0100%8h$28.8M$50.0M—
ApeX Omni HYPEUSDT−0.846%+0.0100%1h$427K$927K50xas long as short
edgeX HYPEUSDC−0.822%+0.0101%4h$5.1M$28.4M30xas long as short
Ondo Perps HYPE-USD.P−0.790%+0.0100%1h$698K$973K10xas long as short
Phoenix HYPE−0.759%+0.0351%1h$293K$984K10xas long as short
Vest HYPE-PERP−0.742%+0.0100%1h—$407K5xas long as short
Hibachi HYPE/USDT-P−0.736%−0.1152%1h$194K$227K7xas long as short
Perpl HYPE−0.732%+0.0112%43m$28K$345K10xas long as short
Popdex HYPEUSDT−0.726%+0.0096%1h$65K$1.2M50xas long as short
Aftermath Perps HYPEUSD−0.725%+0.0315%1h$22K$33K10xas long as short
Show all 54 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Hotstuff HYPE-PERP−0.724%−0.0080%1h$3K$30725xas long as short
BloFin HYPE-USDT−0.722%+0.0340%4h$17.4M$11.6M75xas long as short
GMX HYPE/USD [WBTC.b-USDC]−0.716%L +0.0359% / S −0.0182%1h$1.5M—100xas long as short
Reya HYPERUSDPERP−0.710%+0.0235%1h$73K$149K15xas long as short
Kalshi KXHYPEPERP−0.709%+0.0105%8h$1.7M$4.9M2.3xas long as short
Polymarket Perps HYPE-USD−0.699%+0.0100%1h$469K$2.4M20xas long as short
Aevo HYPE-PERP−0.694%+0.0104%1h$396K$335K20xas long as short
Derive HYPE-PERP−0.686%+0.0100%1h$16.4M$7.2M10xas long as short
Bullet HYPE-USD−0.682%+0.0100%1h$112K$562K20xas long as short
Arcus HYPE-USD−0.673%+0.0100%1h$1.2M$4.0M10xas long as short
StandX HYPE-USD−0.670%+0.0100%1h$670K$2.3M20xas long as short
Nado HYPE-PERP−0.663%+0.0100%1h$6.4M$43.3M10xas long as short
Bulk HYPE-USD−0.658%+0.0100%1h$203K$8K10xas long as short
gTrade (Gains Network) HYPE/USD−0.652%L +0.0002% / S −0.0001%1h$55K—150xas long as short
Orderly PERP_HYPE_USDC−0.624%+0.0079%4h$194K$456K20xas long as short
Bybit HYPEUSDT−0.619%+0.0100%8h$327.1M$281.7M75xas long as short
SoDEX HYPE-USD−0.619%+0.0100%1h$2.0M$2.0M10xas long as short
Phemex HYPEUSDT−0.614%+0.0100%8h$12.6M$2.4M50xas long as short
Katana Perps HYPE-USD−0.609%+0.0100%8h$30K$1.8M10xas long as short
Aster HYPEUSDT−0.602%+0.0100%4h$8.8M$35.3M300xas long as short
KuCoin HYPEUSDTM−0.594%+0.0100%4h$46.0M$19.7M75xas long as short
BingX HYPE-USDT−0.587%+0.0040%4h—$52.1M—as long as short
Bluefin HYPE-PERP−0.587%+0.0375%1h$74K$182K20xas long as short
dYdX HYPE-USD−0.587%+0.0010%1h$127K$26K5xas long as short
SunX HYPE-USDT−0.586%+0.0100%4h$32K$1.6M20xas long as short
OKX HYPE-USDT-SWAP−0.583%+0.0100%8h$114.5M$310.2M50xas long as short
Bitget HYPEUSDT−0.582%+0.0100%4h$227.7M$100.3M75xas long as short
Gate HYPE_USDT−0.581%+0.0100%4h$44.1M$53.8M75xas long as short
Coinbase International HYPE-PERP-INTX−0.577%+0.0200%1h$4.9M$5.3M50xas long as short
Backpack HYPE_USDC_PERP−0.576%+0.0100%1h$8.6M$10.7M20xas long as short
Binance HYPEUSDT−0.573%+0.0100%4h$389.6M$844.7M75xas long as short
Extended HYPE-USD−0.572%+0.0104%1h$18.1M$41.5M50xas long as short
Pacifica HYPE−0.571%+0.0100%1h$11.3M$12.3M20xas long as short
Kraken Futures PF_HYPEUSD−0.569%+0.0257%1h$16.2M$20.4M50xas long as short
MEXC HYPE_USDT−0.559%+0.0100%4h$91.8M$82.4M100xas long as short
Deribit HYPE_USDC-PERPETUAL−0.549%+0.0298%1h$7.4M$4.3M50xas long as short
Lighter RH HYPE−0.547%+0.0096%1h$3.1M$12.0M20xas long as short
01 Exchange HYPEUSD−0.537%+0.0096%1h$91K$314K20xas long as short
Paradex HYPE-USD-PERP−0.532%+0.0113%8h$337K$287K20xas long as short
Lighter HYPE−0.519%+0.0096%1h$18.4M$56.8M20xas long as short
Hyperliquid HYPE−0.514%+0.1003%1h$2.02B$619.5M10xas long as short
RISEx HYPE/USDC−0.488%+0.0611%1h$2.5M$6.8M20xas long as short
HTX HYPE-USDT−0.416%+0.0874%4h$1.5M$7.2M75xas long as short
Injective HYPE/USDC PERPlong0.000%+0.0082%1h$24K$167K12x