Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.009%

Price spread now: SunX against MEXC−0.024%53s7-day average +0.053% · you buy dearer than you sell

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$610.614% of the position

Long on MEXC Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.019%+$2 on $10k

Price spread, last 4 days (all we have)+0.046%+$5 · spread now −0.024%, 7d avg +0.053%

Together, before fees+0.065%+$6 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: SunX is 0.076% cheaper against MEXC than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.053%. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC HYPE_USDT	92.885	0.0100	pay 0.0050% / 4h	3h 46m	$87.3M	$80.1M	100x
Short	SunX HYPE-USDT	92.863	0.0100	get 0.0050% / 4h	3h 46m	$32K	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.024%Rate

Funding earned: $0
Price spread: −0.024% → +0.053%: −$7.64
Slippage, 4 orders: −$49.36
Fee MEXC: 2 bp × 2 orders: −$4
Fee SunX: 4 bp × 2 orders: −$8
Net: −$69
Costs to cover: 0.614%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; SunX: live order book, 9 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	0.22 bp	2.4 bp −$2	3.9 bp −$39	10.9 bp −$1,095	41.3 bp −$20.7K
Sell SunX live order book, 9 min ago	18.88 bp	32.9 bp −$33	doesn't fit	doesn't fit	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	−0.0824%	1h	92.732	−0.165%	$193K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0263%	1h	92.889	+0.005%	$22K	$21K	10x	as long as short
Arcus HYPE-USD	−0.0194%	1h	92.814	−0.076%	$1.1M	$3.9M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.848	−0.040%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0062%	4h	92.892	+0.008%	$158K	$661K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.854	−0.033%	$127K	$29K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	92.965	+0.086%	$1.8M	$5.4M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	92.876	−0.010%	$22K	$301K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.916	+0.033%	$62K	—	150x	as long as short
Bullet HYPE-USD	+0.0023%	1h	92.866	−0.020%	$112K	$578K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix HYPE	+0.0026%	1h	93.017	+0.142%	$210K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0034%	8h	92.900	+0.016%	$316.2M	$282.4M	75x	as long as short
Ondo Perps HYPE-USD.P	+0.0039%	1h	92.800	−0.092%	$698K	$1.1M	10x	as long as short
Phemex HYPEUSDT	+0.0045%	8h	92.892	+0.008%	$12.5M	$2.7M	50x	as long as short
01 Exchange HYPEUSD	+0.0056%	1h	92.898	+0.014%	$87K	$362K	20x	as long as short
Gate HYPE_USDT	+0.0074%	4h	92.900	+0.016%	$44.7M	$53.8M	75x	as long as short
Bitget HYPEUSDT	+0.0076%	4h	92.877	−0.009%	$225.0M	$99.1M	75x	as long as short
Popdex HYPEUSDT	+0.0080%	1h	92.844	−0.044%	$69K	$1.1M	50x	as long as short
Aster HYPEUSDT	+0.0090%	4h	92.881	−0.004%	$8.7M	$36.1M	300x	as long as short
edgeX HYPEUSDC	+0.0093%	4h	92.897	+0.013%	$4.9M	$29.6M	30x	as long as short
Lighter HYPE	+0.0096%	1h	92.866	−0.020%	$16.1M	$62.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.858	−0.029%	$3.1M	$11.6M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	92.869	−0.018%	$339K	$163K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.840	−0.048%	$39K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.840	−0.049%	$7.4M	$45.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.939	+0.058%	$2.03B	$665.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.869	−0.017%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.904	+0.020%	$373.6M	$904.1M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	92.913	+0.030%	$113.9M	$304.6M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.942	+0.061%	$202K	$13K	10x	as long as short
MEXC HYPE_USDTlong	+0.0100%	4h	92.885	long leg	$87.3M	$80.1M	100x
KuCoin HYPEUSDTM	+0.0100%	4h	92.881	−0.004%	$46.1M	$18.4M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	92.900	+0.016%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.874	−0.012%	$7.3M	$11.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.989	+0.112%	$28.6M	$57.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.944	+0.063%	$7.5M	$46.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.890	+0.005%	$350K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.889	+0.004%	$667K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.925	+0.044%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.910	+0.027%	$468K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.891	+0.006%	$79K	$167K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.850	−0.037%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDTshort	+0.0100%	4h	92.863	−0.024%	$32K	$1.6M	20x
SoDEX HYPE-USD	+0.0100%	1h	92.863	−0.024%	$2.0M	$2.0M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.807	−0.084%	$18.0M	$43.6M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.886	+0.001%	$393K	$164K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	92.970	+0.092%	$4.7M	$5.6M	50x	as long as short
HTX HYPE-USDT	+0.0186%	4h	93.050	+0.178%	$1.4M	$6.3M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0197%	1h	92.917	+0.034%	$20.6M	$30.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0242%	1h	93.150	+0.285%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0264%	1h	92.879	−0.007%	$79K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.879	−0.007%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0331%	1h	92.959	+0.080%	$7.5M	$4.5M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.867	−0.019%	$16.7M	$11.6M	75x	as long as short
RISEx HYPE/USDC	+0.0598%	1h	92.907	+0.024%	$3.1M	$6.4M	20x	as long as short