Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0012%/8h= +1.3% APRpaid last 24h +0.023%

Price spread now: StandX against OKX−0.140%7-day average +0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$310.311% of the position

Long on OKX Short on StandX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.066%+$7 on $10k

Price spread, last 7 days+0.129%+$13 · spread now −0.140%, 7d avg +0.015%

Together, before fees+0.195%+ Points / potential airdropStandX: Active · farm board+$19 on $10k · with fees, hour by hour

Funding pays, the price is against you. StandX is 0.155% cheaper against OKX than usual: you would sell low and buy high (spread −0.140% now, against its 7-day average of +0.015%). If the spread goes back, that is −$15 on $10k: about 42 days of funding at the current rate ($0 a day). At the pace of the last 7 days (+0.066% in total) that is about 17 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX HYPE-USDT-SWAP	94.452	0.0088	pay 0.0088% / 8h	51m 50s	$117.7M	$324.3M	50x
Short	StandX HYPE-USD	94.320	0.0100	get 0.0013% / 1h	51m 50s	$682K	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

StandX against OKX. 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 OKXbpFee StandXbpOrdersPrice spread, now −0.140%Rate

Funding earned: $2.59
Price spread: −0.140% → +0.015%: −$15.46
Slippage, 4 orders: −$13.05
Fee OKX: 5 bp × 2 orders: −$10
Fee StandX: 4 bp × 2 orders: −$8
Net: −$43.93
Costs to cover: 0.311%
Break-even: 125.9 days

Slippage from OKX: live order book, 2 min ago; StandX: live order book, 2 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 OKX live order book, 2 min ago	0.05 bp	5.6 bp −$6	8.1 bp −$81	18.3 bp −$1,833	doesn't fit
Sell StandX live order book, 2 min ago	3.66 bp	10.7 bp −$11	12.7 bp −$127	36.0 bp −$3,605	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	−0.1120%	1h	94.259	−0.205%	$201K	$234K	7x	as long as short
Bluefin HYPE-PERP	−0.0351%	1h	94.381	−0.075%	$80K	$155K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0209%	1h	94.270	−0.193%	$709K	$1.2M	10x	as long as short
Bullet HYPE-USD	−0.0144%	1h	94.353	−0.105%	$112K	$575K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0124%	1h	94.291	−0.170%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0112%	1h	94.362	−0.095%	$87K	$366K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.298	−0.163%	$3K	$331	25x	as long as short
Arcus HYPE-USD	−0.0045%	1h	94.306	−0.155%	$1.0M	$3.6M	10x	as long as short
Derive HYPE-PERP	−0.0040%	1h	94.307	−0.154%	$16.4M	$7.5M	10x	as long as short
ApeX Omni HYPEUSDT	−0.0034%	1h	94.057	−0.418%	$362K	$1.0M	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	−0.0014%	8h	94.420	−0.034%	$317.8M	$289.5M	75x	as long as short
BingX HYPE-USDT	−0.0012%	4h	94.428	−0.025%	—	$53.5M	—	as long as short
Orderly PERP_HYPE_USDC	−0.0004%	4h	94.337	−0.122%	$146K	$685K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.345	−0.113%	$129K	$60K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.417	−0.037%	$1.8M	$5.5M	2.3x	as long as short
Phoenix HYPE	0.0000%	1h	94.351	−0.107%	$209K	$1.1M	10x	as long as short
Perpl HYPE	0.0000%	43m	94.328	−0.131%	$19K	$287K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.377	−0.079%	$117K	—	150x	as long as short
Bitget HYPEUSDT	+0.0038%	4h	94.434	−0.019%	$227.1M	$100.1M	75x	as long as short
Phemex HYPEUSDT	+0.0049%	8h	94.374	−0.083%	$12.9M	$2.9M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0058%	8h	94.336	−0.122%	$337K	$156K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0064%	1h	94.360	−0.097%	$4.7M	$6.2M	50x	as long as short
OKX HYPE-USDT-SWAPlong	+0.0088%	8h	94.452	long leg	$117.7M	$324.3M	50x
edgeX HYPEUSDC	+0.0089%	4h	94.094	−0.379%	$5.0M	$30.6M	30x	as long as short
Lighter HYPE	+0.0096%	1h	94.393	−0.062%	$16.3M	$63.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.415	−0.039%	$3.2M	$10.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.337	−0.122%	$82K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.310	−0.150%	$17K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.316	−0.143%	$7.1M	$50.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.501	+0.052%	$2.08B	$688.6M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.438	−0.015%	$8.8M	$37.3M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.348	−0.110%	$10.2M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.436	−0.017%	$378.0M	$932.8M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.065	−0.410%	$217K	$12K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.390	−0.066%	$49.4M	$56.2M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.450	−0.002%	$91.4M	$82.0M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.454	+0.002%	$47.1M	$18.6M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.364	−0.093%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.098	−0.375%	$29.2M	$55.2M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.258	−0.206%	$7.6M	$46.0M	10x	as long as short
StandX HYPE-USDshort	+0.0100%	1h	94.320	−0.140%	$682K	$2.7M	20x
Polymarket Perps HYPE-USD	+0.0100%	1h	94.380	−0.076%	$496K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.405	−0.050%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.394	−0.061%	$2.1M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.500	+0.051%	$1.4M	$6.8M	75x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.395	−0.060%	—	$243K	5x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.425	−0.028%	$18.3M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.351	−0.107%	$399K	$159K	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0151% / S +0.0021%	1h	94.395	−0.060%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0174%	1h	94.460	+0.008%	$7.5M	$4.3M	50x	as long as short
Injective HYPE/USDC PERP	+0.0185%	1h	94.240	−0.224%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0223%	1h	94.447	−0.006%	$20.3M	$30.2M	50x	as long as short
RISEx HYPE/USDC	+0.0249%	1h	94.361	−0.097%	$3.2M	$6.4M	20x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.334	−0.125%	$83K	$123K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.219	−0.247%	$17.0M	$12.4M	75x	as long as short