data as of
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Price arb /

HYPE

all HYPE markets
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

After costs, if the gap returns to its 7d average, $10k−$96
spread now+0.009%7d average−0.009%fees + slippage, in and out−$98spread needed0.980%
Long on PhemexShort on dYdX
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhemex HYPEUSDT93.0450.0100pay 0.0100% / 8h7h 45m$12.6M$2.3M50x
ShortdYdX HYPE-USD93.0530.0029get 0.0004% / 1h45m 18s$127K$26K5x

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 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
$0.91
Funding while held
−$2.14
Slippage, 4 orders
−$75.96
Fee Phemex: 6 bp × 2 orders
−$12
Fee dYdX: 5 bp × 2 orders
−$10
Net
−$99.18
Spread needed to break even
0.980%
Slippage from Phemex: live order book, 5 min ago; dYdX: live order book, 65 min ago.

Cost of waiting

funding view
Funding /8h
−0.0071%
Per $10,000 a day
−$2.14
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Phemex live order book, 5 min ago6.24 bp21.0 bp −$2139.4 bp −$394doesn't fitdoesn't fit
Sell dYdX live order book, 65 min ago24.71 bp29.7 bp −$3073.5 bp −$735168.3 bp −$16.8K407.8 bp −$203.9K

HYPE price on every exchange

against the cheapest. Click to use as the short leg.
Arcus92.944cheapestVariational Omni92.979+0.038%KuCoin92.984+0.043%Nado92.995+0.054%Katana Perps93.000+0.060%Bybit93.004+0.065%Popdex93.004+0.065%Vest93.005+0.066%Perpl93.011+0.072%GMX93.011+0.072%Gate93.014+0.075%Derive93.015+0.076%BingX93.015+0.076%ApeX Omni93.017+0.079%Reya93.020+0.082%Pacifica93.022+0.084%Bulk93.022+0.084%MEXC93.023+0.085%SoDEX93.024+0.086%Polymarket Perps93.026+0.088%Aster93.027+0.089%gTrade (Gains Network)93.033+0.096%01 Exchange93.034+0.097%Bullet93.036+0.099%StandX93.036+0.099%Bitget93.038+0.101%Hyperliquid93.040+0.103%Ondo Perps93.040+0.103%Extended93.045+0.109%
Phemex93.045+0.109%
Hibachi93.045+0.109%Aftermath Perps93.045+0.109%Hotstuff93.047+0.111%Binance93.047+0.111%Kalshi93.048+0.112%BloFin93.049+0.113%OKX93.051+0.115%Backpack93.053+0.117%
dYdX93.053+0.118%
RISEx93.055+0.119%edgeX93.066+0.131%Orderly93.070+0.136%Lighter RH93.073+0.139%SunX93.076+0.142%Aevo93.083+0.149%Paradex93.084+0.150%Lighter93.085+0.151%Coinbase International93.090+0.157%Kraken Futures93.096+0.164%Injective93.110+0.179%Deribit93.119+0.188%Phoenix93.140+0.211%HTX93.218+0.295%Bluefin93.963+1.096%

HYPE on 54 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Arcus HYPE-USD−0.109%+0.0100%1h$1.2M$4.2M10xas long as short
Variational Omni HYPE−0.071%+0.0100%8h$29.4M$51.0M—as long as short
KuCoin HYPEUSDTM−0.066%+0.0100%4h$44.9M$19.8M75xas long as short
Nado HYPE-PERP−0.054%+0.0100%1h$5.5M$42.8M10xas long as short
Katana Perps HYPE-USD−0.048%+0.0100%8h$38K$1.8M10xas long as short
Bybit HYPEUSDT−0.044%+0.0100%8h$325.4M$285.5M75xas long as short
Popdex HYPEUSDT−0.044%+0.0096%1h$155K$1.1M50xas long as short
Vest HYPE-PERP−0.043%+0.0100%1h—$407K5xas long as short
Perpl HYPE−0.037%+0.0223%43m$31K$349K10xas long as short
GMX HYPE/USD [WBTC.b-USDC]−0.036%L +0.0351% / S −0.0169%1h$1.5M—100xas long as short
Show all 54 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Gate HYPE_USDT−0.033%+0.0100%4h$44.4M$53.4M75xas long as short
Derive HYPE-PERP−0.033%+0.0100%1h$16.4M$7.2M10xas long as short
BingX HYPE-USDT−0.032%+0.0040%4h—$52.3M—as long as short
ApeX Omni HYPEUSDT−0.030%+0.0100%1h$427K$959K50xas long as short
Reya HYPERUSDPERP−0.027%+0.0227%1h$73K$166K15xas long as short
Pacifica HYPE−0.025%+0.0100%1h$11.3M$12.3M20xas long as short
Bulk HYPE-USD−0.025%+0.0100%1h$211K$10K10xas long as short
MEXC HYPE_USDT−0.024%+0.0100%4h$97.2M$84.9M100xas long as short
SoDEX HYPE-USD−0.023%+0.0100%1h$2.0M$1.9M10xas long as short
Polymarket Perps HYPE-USD−0.020%+0.0100%1h$451K$2.3M20xas long as short
Aster HYPEUSDT−0.020%+0.0100%4h$8.8M$35.7M300xas long as short
gTrade (Gains Network) HYPE/USD−0.013%L +0.0002% / S −0.0001%1h$18K—150xas long as short
01 Exchange HYPEUSD−0.012%+0.0144%1h$90K$323K20xas long as short
Bullet HYPE-USD−0.010%+0.0100%1h$111K$577K20xas long as short
StandX HYPE-USD−0.010%+0.0100%1h$666K$2.1M20xas long as short
Bitget HYPEUSDT−0.008%+0.0100%4h$228.2M$100.5M75xas long as short
Hyperliquid HYPE−0.005%+0.0100%1h$2.00B$615.1M10xas long as short
Ondo Perps HYPE-USD.P−0.005%+0.0100%1h$697K$974K10xas long as short
Extended HYPE-USD0.000%+0.0104%1h$18.2M$42.0M50xas long as short
Phemex HYPEUSDTlong0.000%+0.0100%8h$12.6M$2.3M50x
Hibachi HYPE/USDT-P0.000%+0.0720%1h$195K$226K7xas long as short
Aftermath Perps HYPEUSD0.000%+0.0310%1h$22K$35K10xas long as short
Hotstuff HYPE-PERP+0.002%−0.0080%1h$3K$30725xas long as short
Binance HYPEUSDT+0.003%+0.0100%4h$393.6M$838.4M75xas long as short
Kalshi KXHYPEPERP+0.003%+0.0124%8h$1.7M$4.8M2.3xas long as short
BloFin HYPE-USDT+0.004%+0.0340%4h$17.6M$12.5M75xas long as short
OKX HYPE-USDT-SWAP+0.006%+0.0057%8h$115.2M$313.5M50xas long as short
Backpack HYPE_USDC_PERP+0.009%+0.0100%1h$8.4M$9.4M20xas long as short
dYdX HYPE-USDshort+0.009%+0.0029%1h$127K$26K5x
RISEx HYPE/USDC+0.010%+0.0620%1h$2.5M$7.3M20xas long as short
edgeX HYPEUSDC+0.022%+0.0112%4h$5.1M$28.5M30xas long as short
Orderly PERP_HYPE_USDC+0.027%−0.0047%4h$169K$378K20xas long as short
Lighter RH HYPE+0.030%+0.0096%1h$3.2M$11.9M20xas long as short
SunX HYPE-USDT+0.033%+0.0100%4h$32K$1.6M20xas long as short
Aevo HYPE-PERP+0.040%+0.0104%1h$396K$340K20xas long as short
Paradex HYPE-USD-PERP+0.041%+0.0130%8h$337K$287K20xas long as short
Lighter HYPE+0.043%+0.0280%1h$18.4M$56.3M20xas long as short
Coinbase International HYPE-PERP-INTX+0.048%+0.0152%1h$5.0M$5.4M50xas long as short
Kraken Futures PF_HYPEUSD+0.055%+0.0410%1h$16.4M$20.8M50xas long as short
Injective HYPE/USDC PERP+0.070%+0.0356%1h$23K$256K12xas long as short
Deribit HYPE_USDC-PERPETUAL+0.080%+0.0384%1h$7.4M$4.7M50xas long as short
Phoenix HYPE+0.102%+0.0386%1h$294K$1.0M10xas long as short
HTX HYPE-USDT+0.186%+0.0730%4h$1.5M$7.0M75xas long as short
Bluefin HYPE-PERP+0.987%+0.3369%1h$74K$191K20xas long as short