data as of
Settings8H · net · $10k
FundingCostsSizeExchangesMy alerts
Price arb /

HYPE

all HYPE markets
SwapFunding view
Alert
My alerts

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−$4
spread now+0.066%7d average−0.099%fees + slippage, in and out−$21spread needed0.207%
Long on PhoenixShort on Hyperliquid
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhoenix HYPE92.2400.0351pay 0.0044% / 1h59m 07s$219K$845K10x
ShortHyperliquid HYPE92.3010.0100get 0.0013% / 1h59m 07s$1.99B$645.9M10x

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
$6.61
Funding while held
−$7.54
Slippage, 4 orders
−$4.67
Fee Phoenix: 3.5 bp × 2 orders
−$7
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
−$21.6
Spread needed to break even
0.207%
Slippage from Phoenix: live order book, 56 min ago; Hyperliquid: live order book, 6 min ago.

Cost of waiting

funding view
Funding /8h
−0.0251%
Per $10,000 a day
−$7.54
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 Phoenix live order book, 56 min ago1.18 bp5.8 bp −$611.1 bp −$111doesn't fitdoesn't fit
Sell Hyperliquid live order book, 6 min ago0.05 bp4.6 bp −$5doesn't fitdoesn't fitdoesn't fit

HYPE price on every exchange

against the cheapest. Click to use as the short leg.
edgeX92.088cheapestBulk92.088+0.000%Variational Omni92.104+0.018%ApeX Omni92.122+0.037%Ondo Perps92.130+0.046%StandX92.140+0.057%Hibachi92.151+0.069%Nado92.230+0.154%
Phoenix92.240+0.166%
Aftermath Perps92.245+0.171%Bybit92.253+0.180%Aster92.258+0.185%Derive92.260+0.187%Arcus92.260+0.187%dYdX92.270+0.198%Vest92.272+0.200%Extended92.273+0.201%OKX92.273+0.201%Gate92.276+0.205%Pacifica92.278+0.207%Bitget92.284+0.213%BloFin92.287+0.217%GMX92.287+0.217%Reya92.294+0.224%Binance92.300+0.231%SoDEX92.300+0.231%
Hyperliquid92.301+0.232%
gTrade (Gains Network)92.302+0.233%BingX92.304+0.235%MEXC92.306+0.237%Polymarket Perps92.310+0.242%Bullet92.311+0.243%KuCoin92.312+0.244%Aevo92.316+0.248%Hotstuff92.317+0.249%Bluefin92.317+0.249%Popdex92.318+0.250%Phemex92.318+0.250%Orderly92.319+0.251%Katana Perps92.320+0.252%01 Exchange92.320+0.252%Kalshi92.322+0.255%Perpl92.325+0.258%Lighter RH92.333+0.267%Paradex92.334+0.268%Backpack92.355+0.290%Kraken Futures92.355+0.291%Lighter92.371+0.308%SunX92.374+0.311%Coinbase International92.380+0.318%Deribit92.393+0.332%RISEx92.412+0.353%HTX92.446+0.389%Injective93.170+1.175%

HYPE on 54 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
edgeX HYPEUSDC−0.165%+0.0107%4h$5.0M$28.6M30xas long as short
Bulk HYPE-USD−0.165%+0.0100%1h$201K$8K10xas long as short
Variational Omni HYPE−0.148%+0.0100%8h$28.2M$49.6M—as long as short
ApeX Omni HYPEUSDT−0.128%+0.0100%1h$427K$937K50xas long as short
Ondo Perps HYPE-USD.P−0.119%+0.0100%1h$692K$974K10xas long as short
StandX HYPE-USD−0.108%+0.0100%1h$666K$2.3M20xas long as short
Hibachi HYPE/USDT-P−0.096%−0.0872%1h$192K$228K7xas long as short
Nado HYPE-PERP−0.011%+0.0100%1h$6.4M$43.6M10xas long as short
Phoenix HYPElong0.000%+0.0351%1h$219K$845K10x
Aftermath Perps HYPEUSD+0.005%+0.0182%1h$22K$30K10xas long as short
Show all 54 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Bybit HYPEUSDT+0.014%+0.0100%8h$323.4M$287.3M75xas long as short
Aster HYPEUSDT+0.019%+0.0100%4h$8.8M$35.6M300xas long as short
Derive HYPE-PERP+0.021%+0.0100%1h$16.2M$7.2M10xas long as short
Arcus HYPE-USD+0.022%+0.0100%1h$1.2M$4.0M10xas long as short
dYdX HYPE-USD+0.032%+0.0006%1h$126K$26K5xas long as short
Vest HYPE-PERP+0.034%+0.0100%1h—$407K5xas long as short
Extended HYPE-USD+0.036%+0.0104%1h$18.0M$41.0M50xas long as short
OKX HYPE-USDT-SWAP+0.036%+0.0100%8h$113.8M$311.7M50xas long as short
Gate HYPE_USDT+0.039%+0.0100%4h$43.7M$55.1M75xas long as short
Pacifica HYPE+0.041%+0.0100%1h$10.1M$14.4M20xas long as short
Bitget HYPEUSDT+0.048%+0.0100%4h$224.3M$101.6M75xas long as short
BloFin HYPE-USDT+0.051%+0.0340%4h$17.4M$11.9M75xas long as short
GMX HYPE/USD [WBTC.b-USDC]+0.051%L +0.0341% / S −0.0166%1h$1.4M—100xas long as short
Reya HYPERUSDPERP+0.058%+0.0238%1h$76K$157K15xas long as short
Binance HYPEUSDT+0.065%+0.0100%4h$386.4M$855.9M75xas long as short
SoDEX HYPE-USD+0.065%+0.0100%1h$2.0M$2.0M10xas long as short
Hyperliquid HYPEshort+0.066%+0.0100%1h$1.99B$645.9M10x
gTrade (Gains Network) HYPE/USD+0.068%L +0.0002% / S −0.0001%1h$54K—150xas long as short
BingX HYPE-USDT+0.069%+0.0100%4h—$54.2M—as long as short
MEXC HYPE_USDT+0.072%+0.0100%4h$89.9M$81.2M100xas long as short
Polymarket Perps HYPE-USD+0.076%+0.0100%1h$478K$2.5M20xas long as short
Bullet HYPE-USD+0.077%+0.0100%1h$110K$569K20xas long as short
KuCoin HYPEUSDTM+0.078%+0.0100%4h$45.7M$19.9M75xas long as short
Aevo HYPE-PERP+0.083%+0.0104%1h$393K$335K20xas long as short
Hotstuff HYPE-PERP+0.083%−0.0080%1h$3K$30725xas long as short
Bluefin HYPE-PERP+0.083%+0.0100%1h$75K$180K20xas long as short
Popdex HYPEUSDT+0.085%+0.0096%1h$49K$1.2M50xas long as short
Phemex HYPEUSDT+0.085%+0.0100%8h$12.5M$2.4M50xas long as short
Orderly PERP_HYPE_USDC+0.086%+0.0099%4h$190K$484K20xas long as short
Katana Perps HYPE-USD+0.087%+0.0100%8h$29K$1.9M10xas long as short
01 Exchange HYPEUSD+0.087%+0.0152%1h$89K$319K20xas long as short
Kalshi KXHYPEPERP+0.089%0.0000%8h$1.7M$5.0M2.3xas long as short
Perpl HYPE+0.092%+0.0447%43m$27K$373K10xas long as short
Lighter RH HYPE+0.101%+0.0096%1h$3.2M$12.3M20xas long as short
Paradex HYPE-USD-PERP+0.102%+0.0110%8h$338K$288K20xas long as short
Backpack HYPE_USDC_PERP+0.125%+0.0100%1h$8.4M$11.1M20xas long as short
Kraken Futures PF_HYPEUSD+0.125%+0.0086%1h$16.1M$20.7M50xas long as short
Lighter HYPE+0.142%+0.0096%1h$18.4M$57.1M20xas long as short
SunX HYPE-USDT+0.145%+0.0100%4h$31K$1.6M20xas long as short
Coinbase International HYPE-PERP-INTX+0.152%+0.0200%1h$4.9M$5.2M50xas long as short
Deribit HYPE_USDC-PERPETUAL+0.166%+0.0693%1h$7.3M$4.7M50xas long as short
RISEx HYPE/USDC+0.187%+0.0569%1h$2.6M$6.6M20xas long as short
HTX HYPE-USDT+0.223%+0.0706%4h$1.5M$7.3M75xas long as short
Injective HYPE/USDC PERP+1.008%+0.1593%1h$21K$167K12xas long as short