HYPE

Alert

Spread before costs (cost unknown: a leg has no order-book sample)−0.043%

7d average+0.005%if it closes, per $10,000$4funding while held, a day+$0.00

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_HYPE_USDC	92.767	0.0100	pay 0.0050% / 4h	1h 22m	$189K	$505K	20x
Short	StandX HYPE-USD	92.727	0.0100	get 0.0013% / 1h	22m 44s	$671K	$2.3M	20x

Price spread history

latest

Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Position, each leg$Hold forhoursFee OrderlybpFee StandXbpOrdersClose when spread is

Spread captured: −$4.31
Funding while held: $0
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee StandX: 4 bp × 2 orders: −$8
Net: −$18.31
Spread needed to break even: 0.140%

Slippage unknown: Orderly: no order-book sample; StandX: live order book, 3 min ago. Net counts fees only.

Cost of waiting

funding view

Funding /8h: 0.0000%
Per $10,000 a day: +$0.00
Average in range /8h: —

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 Orderly no order-book sample	—	—	—	—	—
Sell StandX live order book, 3 min ago	1.24 bp	5.2 bp −$5	5.5 bp −$55	13.6 bp −$1,360	doesn't fit

Orderly: 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 price on every exchange

against the cheapest. Click to use as the short leg.

Injective92.470cheapest Bulk92.668+0.214%Nado92.679+0.227%Katana Perps92.680+0.227%Vest92.681+0.229%Coinbase International92.690+0.238%Popdex92.693+0.241%Hotstuff92.694+0.242%Arcus92.699+0.248%Ondo Perps92.710+0.260%OKX92.713+0.263%GMX92.714+0.264%01 Exchange92.717+0.267%Bybit92.720+0.270%Polymarket Perps92.722+0.273%Bullet92.722+0.273%Extended92.724+0.274%Derive92.724+0.275%Hibachi92.726+0.277%

StandX92.727+0.278%

Reya92.727+0.278%Bitget92.730+0.281%Perpl92.732+0.284%BingX92.733+0.284%ApeX Omni92.738+0.290%gTrade (Gains Network)92.740+0.292%SoDEX92.751+0.304%Aevo92.756+0.310%KuCoin92.758+0.311%SunX92.760+0.314%dYdX92.763+0.317%Kalshi92.764+0.318%edgeX92.764+0.318%Gate92.767+0.321%

Orderly92.767+0.321%

BloFin92.772+0.327%Aster92.775+0.330%Binance92.776+0.331%Phemex92.781+0.336%Pacifica92.782+0.338%MEXC92.786+0.342%Bluefin92.786+0.342%Variational Omni92.789+0.345%Kraken Futures92.791+0.347%Aftermath Perps92.804+0.361%RISEx92.808+0.365%Backpack92.816+0.374%Lighter92.818+0.376%Hyperliquid92.821+0.380%Lighter RH92.828+0.387%Deribit92.844+0.404%Paradex92.852+0.414%Phoenix92.919+0.486%HTX92.925+0.492%

HYPE on 54 venues

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Injective HYPE/USDC PERP	−0.320%	+0.1593%	1h	$30K	$177K	12x	as long as short
Bulk HYPE-USD	−0.107%	+0.0100%	1h	$203K	$12K	10x	as long as short
Nado HYPE-PERP	−0.094%	+0.0100%	1h	$6.4M	$43.8M	10x	as long as short
Katana Perps HYPE-USD	−0.094%	+0.0100%	8h	$20K	$1.9M	10x	as long as short
Vest HYPE-PERP	−0.092%	+0.0100%	1h	—	$407K	5x	as long as short
Coinbase International HYPE-PERP-INTX	−0.083%	+0.0200%	1h	$4.9M	$5.6M	50x	as long as short
Popdex HYPEUSDT	−0.080%	+0.0096%	1h	$55K	$1.2M	50x	as long as short
Hotstuff HYPE-PERP	−0.079%	−0.0080%	1h	$3K	$307	25x	as long as short
Arcus HYPE-USD	−0.073%	−0.0121%	1h	$1.2M	$4.1M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.061%	+0.0100%	1h	$697K	$1.0M	10x	as long as short

Show all 54 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
OKX HYPE-USDT-SWAP	−0.058%	+0.0100%	8h	$113.9M	$318.8M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	−0.057%	L +0.0339% / S −0.0164%	1h	$1.4M	—	100x	as long as short
01 Exchange HYPEUSD	−0.054%	+0.0112%	1h	$90K	$323K	20x	as long as short
Bybit HYPEUSDT	−0.051%	+0.0100%	8h	$324.7M	$291.5M	75x	as long as short
Polymarket Perps HYPE-USD	−0.049%	+0.0100%	1h	$463K	$2.6M	20x	as long as short
Bullet HYPE-USD	−0.049%	+0.0100%	1h	$112K	$568K	20x	as long as short
Extended HYPE-USD	−0.047%	+0.0104%	1h	$18.1M	$41.0M	50x	as long as short
Derive HYPE-PERP	−0.046%	+0.0100%	1h	$16.3M	$7.1M	10x	as long as short
Hibachi HYPE/USDT-P	−0.044%	−0.0840%	1h	$194K	$238K	7x	as long as short
StandX HYPE-USDshort	−0.043%	+0.0100%	1h	$671K	$2.3M	20x
Reya HYPERUSDPERP	−0.043%	+0.0239%	1h	$76K	$157K	15x	as long as short
Bitget HYPEUSDT	−0.040%	+0.0100%	4h	$225.2M	$104.6M	75x	as long as short
Perpl HYPE	−0.037%	0.0000%	43m	$26K	$393K	10x	as long as short
BingX HYPE-USDT	−0.037%	+0.0040%	4h	—	$55.4M	—	as long as short
ApeX Omni HYPEUSDT	−0.031%	+0.0100%	1h	$426K	$949K	50x	as long as short
gTrade (Gains Network) HYPE/USD	−0.029%	L +0.0002% / S −0.0005%	1h	$43K	—	150x	as long as short
SoDEX HYPE-USD	−0.017%	+0.0100%	1h	$2.0M	$2.0M	10x	as long as short
Aevo HYPE-PERP	−0.012%	+0.0104%	1h	$395K	$330K	20x	as long as short
KuCoin HYPEUSDTM	−0.010%	+0.0100%	4h	$46.1M	$20.3M	75x	as long as short
SunX HYPE-USDT	−0.008%	+0.0100%	4h	$32K	$1.6M	20x	as long as short
dYdX HYPE-USD	−0.005%	+0.0018%	1h	$126K	$28K	5x	as long as short
Kalshi KXHYPEPERP	−0.003%	+0.0106%	8h	$1.9M	$5.5M	2.3x	as long as short
edgeX HYPEUSDC	−0.003%	+0.0113%	4h	$5.1M	$28.8M	30x	as long as short
Gate HYPE_USDT	0.000%	+0.0100%	4h	$43.7M	$56.9M	75x	as long as short
Orderly PERP_HYPE_USDClong	0.000%	+0.0100%	4h	$189K	$505K	20x
BloFin HYPE-USDT	+0.005%	+0.0340%	4h	$17.4M	$12.2M	75x	as long as short
Aster HYPEUSDT	+0.009%	+0.0066%	4h	$8.9M	$36.4M	300x	as long as short
Binance HYPEUSDT	+0.010%	+0.0100%	4h	$386.7M	$872.2M	75x	as long as short
Phemex HYPEUSDT	+0.015%	+0.0100%	8h	$12.5M	$2.4M	50x	as long as short
Pacifica HYPE	+0.017%	+0.0100%	1h	$10.1M	$14.4M	20x	as long as short
MEXC HYPE_USDT	+0.020%	+0.0100%	4h	$90.3M	$83.2M	100x	as long as short
Bluefin HYPE-PERP	+0.020%	+0.0100%	1h	$75K	$179K	20x	as long as short
Variational Omni HYPE	+0.024%	+0.0100%	8h	$28.5M	$49.8M	—	as long as short
Kraken Futures PF_HYPEUSD	+0.026%	+0.0086%	1h	$16.1M	$21.1M	50x	as long as short
Aftermath Perps HYPEUSD	+0.040%	+0.0143%	1h	$22K	$29K	10x	as long as short
RISEx HYPE/USDC	+0.044%	+0.0569%	1h	$2.6M	$6.4M	20x	as long as short
Backpack HYPE_USDC_PERP	+0.053%	+0.0100%	1h	$7.9M	$11.6M	20x	as long as short
Lighter HYPE	+0.055%	+0.0096%	1h	$18.6M	$58.8M	20x	as long as short
Hyperliquid HYPE	+0.058%	+0.0598%	1h	$2.00B	$667.8M	10x	as long as short
Lighter RH HYPE	+0.066%	+0.0096%	1h	$3.1M	$12.6M	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.083%	+0.0526%	1h	$7.3M	$4.7M	50x	as long as short
Paradex HYPE-USD-PERP	+0.092%	+0.0107%	8h	$339K	$288K	20x	as long as short
Phoenix HYPE	+0.164%	+0.0338%	1h	$222K	$977K	10x	as long as short
HTX HYPE-USDT	+0.170%	+0.0566%	4h	$1.5M	$7.4M	75x	as long as short