Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.049%

Price spread now: HTX against MEXC+0.028%7-day average +0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$250.246% of the position

Long on MEXC Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.055%+$5 on $10k

Price spread, last 4 days (all we have)−0.172%−$17 · spread now +0.028%, 7d avg +0.045%

Together, before fees−0.117%−$12 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC HYPE_USDT	95.063	0.0100	pay 0.0050% / 4h	3h 20m	$96.8M	$88.1M	100x
Short	HTX HYPE-USDT	95.090	0.0100	get 0.0050% / 4h	3h 20m	$1.4M	$6.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against MEXC. 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 MEXCbpFee HTXbpOrdersPrice spread, now +0.028%Rate

Funding earned: $0
Price spread: +0.028% → +0.045%: −$1.65
Slippage, 4 orders: −$8.56
Fee MEXC: 2 bp × 2 orders: −$4
Fee HTX: 6 bp × 2 orders: −$12
Net: −$26.21
Costs to cover: 0.246%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; HTX: 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 MEXC live order book, 3 min ago	0.05 bp	2.1 bp −$2	2.3 bp −$23	3.7 bp −$369	22.6 bp −$11.3K
Sell HTX live order book, 3 min ago	0.37 bp	9.5 bp −$10	14.6 bp −$146	71.2 bp −$7,124	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	−0.0816%	1h	94.834	−0.241%	$211K	$268K	7x	as long as short
Bluefin HYPE-PERP	−0.0556%	1h	95.007	−0.059%	$79K	$150K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0295%	1h	94.654	−0.430%	$22K	$20K	10x	as long as short
Phemex HYPEUSDT	−0.0286%	8h	94.968	−0.100%	$13.0M	$2.8M	50x	as long as short
Bullet HYPE-USD	−0.0237%	1h	95.015	−0.051%	$113K	$577K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0150%	1h	94.920	−0.150%	$705K	$1.3M	10x	as long as short
01 Exchange HYPEUSD	−0.0120%	1h	95.009	−0.057%	$90K	$355K	20x	as long as short
Arcus HYPE-USD	−0.0112%	1h	94.985	−0.082%	$1.0M	$3.3M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.963	−0.105%	$3K	$331	25x	as long as short
Kraken Futures PF_HYPEUSD	−0.0047%	1h	95.019	−0.047%	$18.9M	$35.6M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit HYPEUSDT	−0.0010%	8h	95.032	−0.033%	$319.6M	$292.0M	75x	as long as short
dYdX HYPE-USD	−0.0008%	1h	95.006	−0.060%	$130K	$92K	5x	as long as short
Orderly PERP_HYPE_USDC	−0.0006%	4h	95.002	−0.064%	$147K	$676K	20x	as long as short
Gate HYPE_USDT	−0.0004%	4h	95.043	−0.021%	$52.1M	$55.6M	75x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	95.108	+0.047%	$1.8M	$5.5M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.996	−0.070%	$19K	$275K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	94.947	−0.122%	$85K	—	150x	as long as short
Phoenix HYPE	+0.0008%	1h	94.372	−0.727%	$209K	$1.2M	10x	as long as short
Derive HYPE-PERP	+0.0010%	1h	94.160	−0.950%	$16.3M	$7.5M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0016%	1h	95.070	+0.007%	$4.7M	$5.8M	50x	as long as short
Bitget HYPEUSDT	+0.0034%	4h	95.052	−0.012%	$228.4M	$96.7M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0040%	8h	95.047	−0.017%	$118.6M	$326.8M	50x	as long as short
Backpack HYPE_USDC_PERP	+0.0041%	1h	95.015	−0.050%	$7.6M	$10.3M	20x	as long as short
Vest HYPE-PERP	+0.0043%	1h	95.048	−0.015%	—	$190K	5x	as long as short
Paradex HYPE-USD-PERP	+0.0044%	8h	95.000	−0.066%	$339K	$39K	20x	as long as short
SoDEX HYPE-USD	+0.0065%	1h	95.031	−0.034%	$2.1M	$1.9M	10x	as long as short
edgeX HYPEUSDC	+0.0088%	4h	94.719	−0.362%	$5.0M	$30.9M	30x	as long as short
Lighter HYPE	+0.0096%	1h	95.011	−0.055%	$16.3M	$63.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	95.018	−0.047%	$3.2M	$10.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.985	−0.082%	$150K	$1.2M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0097%	1h	95.110	+0.049%	$7.5M	$4.4M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.970	−0.098%	$40K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.965	−0.103%	$7.3M	$51.6M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	95.181	+0.124%	$2.09B	$674.7M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	95.048	−0.016%	$9.0M	$38.4M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.990	−0.077%	$10.2M	$14.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	95.065	+0.002%	$382.2M	$932.5M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.213	−0.894%	$219K	$14K	10x	as long as short
MEXC HYPE_USDTlong	+0.0100%	4h	95.063	long leg	$96.8M	$88.1M	100x
KuCoin HYPEUSDTM	+0.0100%	4h	95.032	−0.033%	$47.4M	$18.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	95.044	−0.020%	—	$52.8M	—	as long as short
Variational Omni HYPE	+0.0100%	8h	95.031	−0.033%	$29.8M	$56.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.860	−0.213%	$7.7M	$44.3M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.780	−0.298%	$355K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.917	−0.154%	$696K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	95.055	−0.008%	$500K	$2.7M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	95.034	−0.031%	$33K	$1.6M	20x	as long as short
HTX HYPE-USDTshort	+0.0100%	4h	95.090	+0.028%	$1.4M	$6.8M	75x
Extended HYPE-USD	+0.0104%	1h	95.003	−0.063%	$18.3M	$42.6M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	95.051	−0.013%	$402K	$148K	20x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	94.927	−0.143%	$3.2M	$6.3M	20x	as long as short
Injective HYPE/USDC PERP	+0.0153%	1h	95.170	+0.113%	$31K	$340K	12x	as long as short
Reya HYPERUSDPERP	+0.0271%	1h	94.979	−0.088%	$83K	$105K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0155%	1h	95.069	+0.006%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	95.000	−0.066%	$17.3M	$12.4M	75x	as long as short