Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0118%/8h= +13.0% APRpaid last 24h +0.042%

Price spread now: Vest against Orderly+0.081%7-day average −0.003% · you sell dearer than you buy

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

Long on Orderly Short on Vest

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.060%−$6 on $10k

Price spread, last 4 days (all we have)−0.142%−$14 · spread now +0.081%, 7d avg −0.003%

Together, before fees−0.202%+ Points / potential airdropVest: Active · farm board−$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Vest is 0.085% dearer against Orderly than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.003%. Mind the row above: over the last 3 days funding on this pair cost −0.060%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_HYPE_USDC	93.755	−0.0018	get 0.0009% / 4h	1h 49m	$149K	$681K	20x
Short	Vest HYPE-PERP	93.831	0.0100	get 0.0013% / 1h	49m 32s	—	$243K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest against Orderly. 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 OrderlybpFee VestbpOrdersPrice spread, now +0.081%Rate

Funding earned: $24.87
Price spread: +0.081% → −0.003%: $8.49
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Vest: 1 bp × 2 orders: −$2
Net: $25.36
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Orderly: no order-book sample; 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 Orderly no order-book sample	—	—	—	—	—
Sell Vest no order-book sample	—	—	—	—	—

Orderly and 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	−0.1160%	1h	93.719	−0.039%	$199K	$242K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0262%	1h	93.860	+0.112%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0106%	1h	93.760	+0.005%	$706K	$1.2M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.712	−0.046%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0064%	1h	93.687	−0.073%	$86K	$372K	20x	as long as short
Bullet HYPE-USD	−0.0049%	1h	93.791	+0.038%	$111K	$581K	20x	as long as short
Orderly PERP_HYPE_USDClong	−0.0018%	4h	93.755	long leg	$149K	$681K	20x
Bluefin HYPE-PERP	−0.0015%	1h	93.786	+0.033%	$79K	$156K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.743	−0.013%	$129K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.784	+0.031%	$22K	$285K	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.823	+0.073%	$63K	—	150x	as long as short
Bybit HYPEUSDT	+0.0010%	8h	93.580	−0.187%	$316.2M	$287.9M	75x	as long as short
BingX HYPE-USDT	+0.0010%	4h	93.666	−0.095%	—	$53.9M	—	as long as short
Phoenix HYPE	+0.0017%	1h	93.780	+0.027%	$210K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0040%	4h	93.683	−0.077%	$225.7M	$99.6M	75x	as long as short
Phemex HYPEUSDT	+0.0066%	8h	93.811	+0.060%	$12.8M	$2.8M	50x	as long as short
ApeX Omni HYPEUSDT	+0.0074%	1h	93.801	+0.049%	$348K	$1.0M	50x	as long as short
Arcus HYPE-USD	+0.0084%	1h	93.754	−0.001%	$1.0M	$4.0M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0085%	8h	93.690	−0.069%	$335K	$161K	20x	as long as short
edgeX HYPEUSDC	+0.0091%	4h	93.758	+0.003%	$5.0M	$30.5M	30x	as long as short
Derive HYPE-PERP	+0.0092%	1h	93.753	−0.002%	$16.4M	$7.4M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.673	−0.088%	$16.2M	$63.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.676	−0.084%	$3.1M	$11.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.670	−0.091%	$78K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.680	−0.080%	$23K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.698	−0.060%	$7.4M	$50.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.792	+0.039%	$2.05B	$681.4M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.694	−0.065%	$8.9M	$37.4M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.697	−0.062%	$10.1M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.656	−0.105%	$375.3M	$930.1M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.586	−0.180%	$115.7M	$315.9M	50x	as long as short
Gate HYPE_USDT	+0.0100%	4h	93.665	−0.096%	$48.4M	$54.9M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.668	−0.093%	$88.9M	$83.2M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.662	−0.099%	$46.2M	$18.8M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.788	+0.035%	$7.2M	$10.8M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.670	−0.091%	$28.6M	$56.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.726	−0.031%	$7.6M	$48.1M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.812	+0.061%	$679K	$2.8M	20x	as long as short
Vest HYPE-PERPshort	+0.0100%	1h	93.831	+0.081%	—	$243K	5x
Polymarket Perps HYPE-USD	+0.0100%	1h	93.814	+0.063%	$471K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.858	+0.110%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.794	+0.042%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.920	+0.176%	$1.4M	$6.7M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.731	−0.026%	$216K	$15K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.643	−0.119%	$18.2M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.795	+0.042%	$396K	$159K	20x	as long as short
Kalshi KXHYPEPERP	+0.0106%	8h	93.858	+0.110%	$1.8M	$5.6M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	93.820	+0.069%	$4.7M	$6.1M	50x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.610	+0.912%	$31K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0271%	1h	93.780	+0.027%	$77K	$130K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0294%	1h	93.888	+0.142%	$7.4M	$4.2M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0333% / S −0.0154%	1h	93.813	+0.062%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.701	−0.058%	$17.0M	$12.2M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0414%	1h	93.854	+0.105%	$20.9M	$29.6M	50x	as long as short
RISEx HYPE/USDC	+0.0559%	1h	93.716	−0.042%	$3.2M	$6.4M	20x	as long as short