Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0022%/8h= +2.4% APRpaid last 24h −0.012%

Price spread now: Vest against Paradex+0.028%7-day average −0.018% · you sell dearer than you buy

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

Long on Paradex Short on Vest

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.123%−$12 on $10k

Price spread, last 4 days (all we have)+0.078%+$8 · spread now +0.028%, 7d avg −0.018%

Together, before fees−0.045%+ Points / potential airdropParadex: Active · Vest: Active · farm board−$5 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 0.046% dearer against Paradex than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.018%. Mind the row above: over the last 3 days funding on this pair cost −0.123%, 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	Paradex HYPE-USD-PERP	94.318	0.0078	pay 0.0078% / 8h	1h 19m	$337K	$157K	20x
Short	Vest HYPE-PERP	94.344	0.0100	get 0.0013% / 1h	19m 01s	—	$243K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest against Paradex. 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 ParadexbpFee VestbpOrdersPrice spread, now +0.028%Rate

Funding earned: $4.6
Price spread: +0.028% → −0.018%: $4.59
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Vest: 1 bp × 2 orders: −$2
Net: $3.19
Costs to cover: 0.060%
Break-even: 2.2 days

Slippage unknown: Paradex: live order book, 25 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 Paradex live order book, 25 min ago	1.66 bp	3.7 bp −$4	9.5 bp −$95	doesn't fit	doesn't fit
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 54 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	−0.1072%	1h	94.168	−0.159%	$200K	$237K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0186%	1h	94.134	−0.196%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.264	−0.058%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0063%	1h	94.140	−0.189%	$709K	$1.2M	10x	as long as short
Bullet HYPE-USD	−0.0059%	1h	94.278	−0.043%	$112K	$579K	20x	as long as short
01 Exchange HYPEUSD	−0.0032%	1h	94.314	−0.005%	$86K	$367K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0014%	4h	94.259	−0.063%	$146K	$686K	20x	as long as short
Bluefin HYPE-PERP	−0.0004%	1h	94.282	−0.039%	$80K	$155K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.292	−0.028%	$129K	$26K	5x	as long as short
Bybit HYPEUSDT	0.0000%	8h	94.280	−0.041%	$317.4M	$289.2M	75x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	94.265	−0.056%	$19K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	94.290	−0.030%	$84K	—	150x	as long as short
Phoenix HYPE	+0.0017%	1h	94.378	+0.063%	$207K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0052%	4h	94.293	−0.027%	$227.3M	$99.3M	75x	as long as short
Phemex HYPEUSDT	+0.0058%	8h	94.228	−0.096%	$12.9M	$2.9M	50x	as long as short
Paradex HYPE-USD-PERPlong	+0.0078%	8h	94.318	long leg	$337K	$157K	20x
Arcus HYPE-USD	+0.0084%	1h	94.249	−0.074%	$1.0M	$4.0M	10x	as long as short
edgeX HYPEUSDC	+0.0095%	4h	94.344	+0.027%	$5.0M	$30.6M	30x	as long as short
Lighter HYPE	+0.0096%	1h	94.285	−0.035%	$16.3M	$64.3M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.298	−0.022%	$3.2M	$11.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.259	−0.063%	$78K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.270	−0.051%	$17K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.258	−0.064%	$7.5M	$50.5M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.386	+0.072%	$2.08B	$687.0M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.297	−0.023%	$8.8M	$37.1M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.297	−0.022%	$10.2M	$15.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.319	0.000%	$377.4M	$932.8M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	94.285	−0.035%	$116.3M	$317.0M	50x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.283	−0.038%	$48.9M	$56.5M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.340	+0.023%	$89.9M	$85.1M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.285	−0.035%	$46.9M	$18.8M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.280	−0.041%	—	$53.6M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.308	−0.011%	$7.2M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.229	−0.095%	$29.0M	$56.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.424	+0.112%	$7.6M	$48.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.205	−0.120%	$362K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.221	−0.103%	$682K	$2.7M	20x	as long as short
Vest HYPE-PERPshort	+0.0100%	1h	94.344	+0.028%	—	$243K	5x
Polymarket Perps HYPE-USD	+0.0100%	1h	94.287	−0.033%	$498K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.311	−0.008%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.291	−0.029%	$2.1M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.409	+0.096%	$1.4M	$6.7M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.275	−0.046%	$218K	$15K	10x	as long as short
Kalshi KXHYPEPERP	+0.0101%	8h	94.333	+0.015%	$1.8M	$5.6M	2.3x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.282	−0.038%	$18.2M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.306	−0.013%	$399K	$159K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	94.330	+0.012%	$4.7M	$6.2M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0151% / S +0.0022%	1h	94.326	+0.009%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.610	+0.309%	$31K	$339K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0227%	1h	94.370	+0.055%	$7.5M	$4.3M	50x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.249	−0.074%	$78K	$129K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.278	−0.043%	$16.9M	$12.3M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0412%	1h	94.354	+0.038%	$20.2M	$30.4M	50x	as long as short
RISEx HYPE/USDC	+0.0559%	1h	94.310	−0.009%	$3.2M	$6.4M	20x	as long as short