Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0009%/8h= −1.0% APRpaid last 24h +0.008%

Price spread now: StandX against MEXC+0.131%7-day average −0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$3as in the Price arb table

costs, in and out, $10k−$170.167% of the position

Long on MEXC Short on StandX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.013%+$1 on $10k

Price spread, last 7 days−0.129%−$13 · spread now +0.131%, 7d avg −0.005%

Together, before fees−0.116%+ Points / potential airdropStandX: Active · farm board−$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. StandX is 0.135% dearer against MEXC than usual: you sell high and buy low (spread +0.131% now, against its 7-day average of −0.005%): +$14 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 49 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC HYPE_USDT	94.933	0.0076	pay 0.0038% / 4h	1h 48m	$89.9M	$83.5M	100x
Short	StandX HYPE-USD	95.057	0.0067	get 0.0008% / 1h	48m 12s	$691K	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

StandX 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 StandXbpOrdersPrice spread, now +0.131%Rate

Funding earned: −$1.93
Price spread: +0.131% → −0.005%: $13.54
Slippage, 4 orders: −$4.68
Fee MEXC: 2 bp × 2 orders: −$4
Fee StandX: 4 bp × 2 orders: −$8
Net: −$5.07
Costs to cover: 0.167%
Break-even: never at this rate

Slippage from MEXC: 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 MEXC live order book, 4 min ago	0.05 bp	2.3 bp −$2	4.4 bp −$44	16.1 bp −$1,610	36.6 bp −$18.3K
Sell StandX live order book, 4 min ago	1.26 bp	6.8 bp −$7	6.8 bp −$68	12.9 bp −$1,291	doesn't fit

HYPE on 54 exchanges

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	−0.1008%	1h	95.093	+0.168%	$220K	$269K	7x	as long as short
Kraken Futures PF_HYPEUSD	−0.0252%	1h	94.957	+0.025%	$18.5M	$35.2M	50x	as long as short
Phemex HYPEUSDT	−0.0248%	8h	94.981	+0.051%	$12.9M	$2.5M	50x	as long as short
Ondo Perps HYPE-USD.P	−0.0200%	1h	94.910	−0.024%	$689K	$1.2M	10x	as long as short
Lighter HYPE	−0.0192%	1h	94.930	−0.003%	$16.3M	$57.6M	20x	as long as short
01 Exchange HYPEUSD	−0.0136%	1h	94.855	−0.082%	$99K	$342K	20x	as long as short
Arcus HYPE-USD	−0.0130%	1h	94.894	−0.041%	$1.1M	$2.4M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0115%	1h	95.145	+0.223%	$22K	$17K	10x	as long as short
Gate HYPE_USDT	−0.0098%	4h	94.927	−0.006%	$54.7M	$53.2M	75x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	95.191	+0.272%	$3K	$331	25x	as long as short

Show all 54 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni HYPEUSDT	−0.0068%	1h	95.141	+0.219%	$342K	$887K	50x	as long as short
Coinbase International HYPE-PERP-INTX	−0.0056%	1h	94.910	−0.024%	$4.7M	$5.5M	50x	as long as short
Bullet HYPE-USD	−0.0049%	1h	94.919	−0.015%	$113K	$581K	20x	as long as short
Aster HYPEUSDT	−0.0049%	4h	94.920	−0.014%	$8.9M	$32.7M	300x	as long as short
Popdex HYPEUSDT	−0.0048%	1h	94.899	−0.036%	$273K	$1.0M	50x	as long as short
Orderly PERP_HYPE_USDC	−0.0046%	4h	94.895	−0.040%	$147K	$643K	20x	as long as short
OKX HYPE-USDT-SWAP	−0.0015%	8h	94.933	0.000%	$118.9M	$302.7M	50x	as long as short
SoDEX HYPE-USD	−0.0013%	1h	94.933	0.000%	$2.1M	$340K	10x	as long as short
Phoenix HYPE	−0.0008%	1h	95.326	+0.414%	$199K	$1.1M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.991	+0.061%	$129K	$94K	5x	as long as short
Perpl HYPE	0.0000%	43m	94.949	+0.017%	$24K	$250K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	94.940	+0.007%	$99K	—	150x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0013%	1h	95.017	+0.088%	$7.5M	$4.3M	50x	as long as short
Bitget HYPEUSDT	+0.0014%	4h	94.949	+0.017%	$228.2M	$86.8M	75x	as long as short
Bybit HYPEUSDT	+0.0018%	8h	94.940	+0.007%	$319.7M	$265.2M	75x	as long as short
StandX HYPE-USDshort	+0.0067%	1h	95.057	+0.131%	$691K	$2.7M	20x
Bluefin HYPE-PERP	+0.0069%	1h	94.916	−0.018%	$79K	$135K	20x	as long as short
edgeX HYPEUSDC	+0.0072%	4h	95.113	+0.189%	$5.1M	$29.2M	30x	as long as short
Bulk HYPE-USD	+0.0074%	1h	95.269	+0.354%	$232K	$12K	10x	as long as short
MEXC HYPE_USDTlong	+0.0076%	4h	94.933	long leg	$89.9M	$83.5M	100x
Paradex HYPE-USD-PERP	+0.0076%	8h	94.910	−0.025%	$339K	$30K	20x	as long as short
Binance HYPEUSDT	+0.0077%	4h	94.933	0.000%	$381.6M	$851.2M	75x	as long as short
BingX HYPE-USDT	+0.0092%	4h	94.936	+0.003%	—	$49.0M	—	as long as short
Lighter RH HYPE	+0.0096%	1h	94.945	+0.013%	$3.4M	$10.1M	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	94.860	−0.077%	$39K	$1.5M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.915	−0.019%	$7.3M	$51.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	95.054	+0.127%	$2.11B	$646.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.932	−0.001%	$10.2M	$13.2M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.929	−0.004%	$47.2M	$17.7M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.967	+0.036%	$7.3M	$10.8M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	95.111	+0.187%	$30.0M	$53.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	95.192	+0.273%	$7.7M	$39.2M	10x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.976	+0.045%	—	$80K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.934	+0.001%	$504K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	95.011	+0.082%	$32K	$1.4M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.995	+0.065%	$1.4M	$5.3M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.904	−0.031%	$18.4M	$39.8M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.921	−0.012%	$401K	$130K	20x	as long as short
Kalshi KXHYPEPERP	+0.0126%	8h	95.005	+0.076%	$1.8M	$5.1M	2.3x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	94.932	−0.001%	$3.2M	$5.5M	20x	as long as short
Reya HYPERUSDPERP	+0.0270%	1h	95.108	+0.184%	$85K	$96K	15x	as long as short
BloFin HYPE-USDT	+0.0322%	4h	94.950	+0.018%	$17.4M	$11.4M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0155%	1h	94.973	+0.042%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0969%	1h	95.500	+0.597%	$31K	$334K	12x	as long as short