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Price arb /

HYPE

all HYPE markets
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Spread before costs (cost unknown: a leg has no order-book sample)+0.406%
7d average+0.176%if it closes, per $10,000$41funding while held, a day+$9.11
Long on PhemexShort on Injective
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhemex HYPEUSDT93.2610.0052pay 0.0052% / 8h7h 15m$12.6M$2.4M50x
ShortInjective HYPE/USDC PERP93.6400.0356get 0.0044% / 1h15m 08s$24K$256K12x

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
$40.64
Funding while held
$9.11
Slippage, 4 orders
no order book: not counted
Fee Phemex: 6 bp × 2 orders
−$12
Fee Injective: 0.01 bp × 2 orders
−$0.02
Net
$37.72
Spread needed to break even
0.120%
Slippage unknown: Phemex: live order book, 5 min ago; Injective: live order book, 30 min ago. Net counts fees only.

Cost of waiting

funding view
Funding /8h
+0.0304%
Per $10,000 a day
+$9.11
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 ago3.44 bp13.1 bp −$1331.1 bp −$311doesn't fitdoesn't fit
Sell Injective live order book, 30 min ago12.36 bpdoesn't fitdoesn't fitdoesn't fitdoesn't fit

HYPE price on every exchange

against the cheapest. Click to use as the short leg.
edgeX93.057cheapestVariational Omni93.150+0.100%ApeX Omni93.166+0.117%Hotstuff93.169+0.120%Aftermath Perps93.190+0.142%Hibachi93.226+0.181%StandX93.252+0.209%Bybit93.260+0.218%
Phemex93.261+0.219%
Phoenix93.271+0.230%OKX93.277+0.236%Bulk93.279+0.238%BingX93.280+0.239%Gate93.282+0.242%Derive93.291+0.251%Bitget93.292+0.252%Arcus93.294+0.254%Vest93.297+0.257%GMX93.302+0.263%KuCoin93.304+0.265%Extended93.308+0.269%Bluefin93.309+0.271%Aster93.310+0.271%Ondo Perps93.310+0.272%MEXC93.311+0.273%SoDEX93.313+0.275%Nado93.315+0.278%Reya93.318+0.281%gTrade (Gains Network)93.321+0.284%BloFin93.324+0.287%Perpl93.329+0.292%Bullet93.330+0.293%Aevo93.331+0.294%Orderly93.332+0.295%Backpack93.335+0.298%Katana Perps93.340+0.304%Binance93.344+0.308%Lighter RH93.346+0.310%SunX93.349+0.314%Popdex93.351+0.316%Polymarket Perps93.351+0.316%Pacifica93.352+0.317%Kraken Futures93.352+0.317%Lighter93.365+0.331%dYdX93.367+0.333%Paradex93.370+0.336%Deribit93.374+0.340%Kalshi93.377+0.344%01 Exchange93.403+0.372%Hyperliquid93.408+0.377%Coinbase International93.410+0.379%RISEx93.427+0.397%HTX93.544+0.523%
Injective93.640+0.626%

HYPE on 54 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
edgeX HYPEUSDC−0.218%+0.0105%4h$5.1M$29.0M30xas long as short
Variational Omni HYPE−0.119%+0.0100%8h$29.0M$50.4M—as long as short
ApeX Omni HYPEUSDT−0.102%+0.0100%1h$428K$927K50xas long as short
Hotstuff HYPE-PERP−0.099%−0.0080%1h$3K$30725xas long as short
Aftermath Perps HYPEUSD−0.076%+0.0293%1h$22K$34K10xas long as short
Hibachi HYPE/USDT-P−0.038%−0.0112%1h$195K$231K7xas long as short
StandX HYPE-USD−0.010%+0.0100%1h$672K$2.3M20xas long as short
Bybit HYPEUSDT−0.001%+0.0100%8h$326.3M$283.7M75xas long as short
Phemex HYPEUSDTlong0.000%+0.0052%8h$12.6M$2.4M50x
Phoenix HYPE+0.011%+0.0386%1h$294K$1.0M10xas long as short
Show all 54 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
OKX HYPE-USDT-SWAP+0.017%+0.0098%8h$114.9M$312.3M50xas long as short
Bulk HYPE-USD+0.019%+0.0100%1h$204K$17K10xas long as short
BingX HYPE-USDT+0.020%+0.0100%4h—$52.4M—as long as short
Gate HYPE_USDT+0.023%+0.0100%4h$44.1M$54.9M75xas long as short
Derive HYPE-PERP+0.032%+0.0100%1h$16.4M$7.2M10xas long as short
Bitget HYPEUSDT+0.033%+0.0100%4h$228.8M$100.2M75xas long as short
Arcus HYPE-USD+0.035%+0.0100%1h$1.2M$4.0M10xas long as short
Vest HYPE-PERP+0.038%+0.0100%1h—$407K5xas long as short
GMX HYPE/USD [WBTC.b-USDC]+0.044%L +0.0356% / S −0.0176%1h$1.5M—100xas long as short
KuCoin HYPEUSDTM+0.046%+0.0100%4h$45.2M$19.8M75xas long as short
Extended HYPE-USD+0.050%+0.0104%1h$18.2M$41.9M50xas long as short
Bluefin HYPE-PERP+0.051%+0.3157%1h$73K$186K20xas long as short
Aster HYPEUSDT+0.052%+0.0100%4h$8.9M$35.4M300xas long as short
Ondo Perps HYPE-USD.P+0.053%+0.0100%1h$699K$987K10xas long as short
MEXC HYPE_USDT+0.054%+0.0100%4h$88.5M$88.9M100xas long as short
SoDEX HYPE-USD+0.056%+0.0100%1h$2.0M$2.0M10xas long as short
Nado HYPE-PERP+0.058%+0.0100%1h$5.9M$43.2M10xas long as short
Reya HYPERUSDPERP+0.062%+0.0231%1h$73K$153K15xas long as short
gTrade (Gains Network) HYPE/USD+0.065%L +0.0002% / S −0.0001%1h$55K—150xas long as short
BloFin HYPE-USDT+0.068%+0.0340%4h$17.6M$11.7M75xas long as short
Perpl HYPE+0.072%+0.0112%43m$31K$349K10xas long as short
Bullet HYPE-USD+0.074%+0.0100%1h$112K$580K20xas long as short
Aevo HYPE-PERP+0.075%+0.0104%1h$397K$340K20xas long as short
Orderly PERP_HYPE_USDC+0.076%+0.0010%4h$170K$355K20xas long as short
Backpack HYPE_USDC_PERP+0.079%+0.0100%1h$8.5M$10.1M20xas long as short
Katana Perps HYPE-USD+0.085%+0.0100%8h$41K$1.8M10xas long as short
Binance HYPEUSDT+0.089%+0.0100%4h$391.4M$846.9M75xas long as short
Lighter RH HYPE+0.091%+0.0096%1h$3.1M$12.2M20xas long as short
SunX HYPE-USDT+0.094%+0.0100%4h$32K$1.6M20xas long as short
Popdex HYPEUSDT+0.097%+0.0096%1h$135K$1.1M50xas long as short
Polymarket Perps HYPE-USD+0.097%+0.0100%1h$458K$2.4M20xas long as short
Pacifica HYPE+0.098%+0.0100%1h$11.4M$12.4M20xas long as short
Kraken Futures PF_HYPEUSD+0.098%+0.0409%1h$16.3M$20.8M50xas long as short
Lighter HYPE+0.112%+0.0160%1h$18.4M$58.2M20xas long as short
dYdX HYPE-USD+0.114%+0.0045%1h$127K$26K5xas long as short
Paradex HYPE-USD-PERP+0.117%+0.0121%8h$338K$287K20xas long as short
Deribit HYPE_USDC-PERPETUAL+0.121%+0.0146%1h$7.4M$4.3M50xas long as short
Kalshi KXHYPEPERP+0.124%+0.0125%8h$1.7M$4.8M2.3xas long as short
01 Exchange HYPEUSD+0.152%+0.0160%1h$91K$317K20xas long as short
Hyperliquid HYPE+0.158%+0.0347%1h$2.03B$619.9M10xas long as short
Coinbase International HYPE-PERP-INTX+0.160%+0.0152%1h$5.0M$5.3M50xas long as short
RISEx HYPE/USDC+0.177%+0.0620%1h$2.6M$7.3M20xas long as short
HTX HYPE-USDT+0.303%+0.0933%4h$1.5M$7.1M75xas long as short
Injective HYPE/USDC PERPshort+0.406%+0.0356%1h$24K$256K12x