Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0046%/8h= +5.0% APRpaid last 24h +0.005%

Price spread now: Vest against MEXC+0.207%49s7-day average −0.008% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on MEXC Short on Vest

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.120%−$12 on $10k

Price spread, last 3 days (all we have)−0.087%−$9 · spread now +0.207%, 7d avg −0.008%

Together, before fees−0.207%+ Points / potential airdropVest: Active · farm board−$21 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Vest is 0.215% dearer against MEXC than usual: you sell high and buy low: +$22 more if the spread goes back to its 7-day average of −0.008%. Mind the row above: over the last 3 days funding on this pair cost −0.120%, so the current rate has only just turned in your favour. The two prices were read 49 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	93.529	0.0054	pay 0.0027% / 4h	3h 02m	$87.8M	$83.5M	100x
Short	Vest HYPE-PERP	93.723	0.0100	get 0.0013% / 1h	2m 46s	—	$243K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest against MEXC. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 VestbpOrdersPrice spread, now +0.207%Rate

Funding earned: $9.68
Price spread: +0.207% → −0.008%: $21.51
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Vest: 1 bp × 2 orders: −$2
Net: $25.19
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: MEXC: live order book, 1 min ago; Vest: no order-book sample. Net counts fees only.

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, 1 min ago	0.05 bp	2.1 bp −$2	6.2 bp −$62	13.4 bp −$1,344	49.7 bp −$24.8K
Sell Vest no order-book sample	—	—	—	—	—

Vest: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1120%	1h	93.805	+0.295%	$199K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0625%	1h	93.372	−0.168%	$1.2M	$3.9M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0194%	1h	93.890	+0.386%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0104%	1h	93.580	+0.055%	$710K	$963K	10x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	93.646	+0.125%	$85K	$359K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.669	+0.150%	$3K	$331	25x	as long as short
dYdX HYPE-USD	−0.0078%	1h	93.595	+0.070%	$128K	$31K	5x	as long as short
Gate HYPE_USDT	−0.0060%	4h	93.462	−0.072%	$44.3M	$60.5M	75x	as long as short
Bullet HYPE-USD	−0.0045%	1h	93.633	+0.111%	$113K	$579K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0037%	4h	93.616	+0.093%	$159K	$643K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	−0.0006%	4h	93.679	+0.160%	$8.9M	$36.0M	300x	as long as short
Phemex HYPEUSDT	−0.0005%	8h	93.643	+0.122%	$12.8M	$2.6M	50x	as long as short
Perpl HYPE	0.0000%	43m	93.663	+0.144%	$23K	$327K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.659	+0.139%	$27K	—	150x	as long as short
Bybit HYPEUSDT	+0.0019%	8h	93.479	−0.053%	$321.4M	$279.4M	75x	as long as short
Derive HYPE-PERP	+0.0021%	1h	93.593	+0.069%	$16.3M	$7.6M	10x	as long as short
Phoenix HYPE	+0.0034%	1h	93.887	+0.383%	$213K	$1.2M	10x	as long as short
Binance HYPEUSDT	+0.0052%	4h	93.523	−0.007%	$381.9M	$897.0M	75x	as long as short
MEXC HYPE_USDTlong	+0.0054%	4h	93.529	long leg	$87.8M	$83.5M	100x
OKX HYPE-USDT-SWAP	+0.0071%	8h	93.467	−0.066%	$115.6M	$313.6M	50x	as long as short
Bluefin HYPE-PERP	+0.0072%	1h	93.609	+0.086%	$76K	$171K	20x	as long as short
edgeX HYPEUSDC	+0.0074%	4h	93.859	+0.353%	$5.1M	$29.7M	30x	as long as short
Lighter HYPE	+0.0096%	1h	93.563	+0.036%	$18.8M	$60.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.557	+0.030%	$3.0M	$12.2M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.643	+0.122%	$64K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.628	+0.106%	$398K	$180K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.556	+0.028%	$340K	$165K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.480	−0.052%	$34K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.675	+0.156%	$6.6M	$44.6M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.611	+0.088%	$2.04B	$669.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.547	+0.019%	$10.1M	$14.7M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.536	+0.007%	$46.4M	$18.2M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.468	−0.065%	$226.3M	$100.2M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.458	−0.076%	—	$53.8M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.594	+0.069%	$7.9M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.768	+0.255%	$31.3M	$53.6M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.861	+0.355%	$7.6M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.820	+0.311%	$340K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.880	+0.375%	$670K	$2.6M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.658	+0.138%	$473K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.697	+0.180%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.625	+0.103%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.894	+0.390%	$204K	$10K	10x	as long as short
Vest HYPE-PERPshort	+0.0100%	1h	93.723	+0.207%	—	$243K	5x
Extended HYPE-USD	+0.0104%	1h	93.431	−0.104%	$18.3M	$44.9M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.740	+0.226%	$4.9M	$5.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	93.570	+0.044%	$30K	$338K	12x	as long as short
BloFin HYPE-USDT	+0.0217%	4h	93.624	+0.102%	$17.0M	$12.0M	75x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	93.510	−0.021%	$2.7M	$6.7M	20x	as long as short
Kalshi KXHYPEPERP	+0.0246%	8h	93.839	+0.331%	$1.9M	$5.1M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0253%	1h	93.624	+0.102%	$79K	$143K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0333% / S −0.0157%	1h	93.654	+0.134%	$1.4M	—	100x	as long as short
HTX HYPE-USDT	+0.0358%	4h	93.800	+0.290%	$1.5M	$6.0M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0551%	1h	93.736	+0.221%	$7.5M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0674%	1h	93.695	+0.177%	$20.9M	$29.7M	50x	as long as short