Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0132%/8h= +14.5% APRpaid last 24h +0.008%

Price spread now: HTX against RISEx+0.168%7-day average +0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$300.298% of the position

Long on RISEx Short on HTX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.070%−$7 on $10k

Price spread, last 3 days (all we have)−0.216%−$22 · spread now +0.168%, 7d avg +0.027%

Together, before fees−0.286%−$29 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 HTX is 0.142% dearer against RISEx than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of +0.027%. Mind the row above: over the last 3 days funding on this pair cost −0.070%, 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	RISEx HYPE/USDC	93.346	0.0210	pay 0.0026% / 1h	58m 31s	$2.7M	$6.7M	20x
Short	HTX HYPE-USDT	93.503	0.0342	get 0.0171% / 4h	2h 58m	$1.5M	$6.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against RISEx. 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 RISExbpFee HTXbpOrdersPrice spread, now +0.168%Rate

Funding earned: $27.78
Price spread: +0.168% → +0.027%: $14.19
Slippage, 4 orders: −$11.79
Fee RISEx: 3 bp × 2 orders: −$6
Fee HTX: 6 bp × 2 orders: −$12
Net: $12.18
Costs to cover: 0.298%
Break-even: 3.9 days

Slippage from RISEx: live order book, 1 min ago; HTX: live order book, 1 min ago.

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 RISEx live order book, 1 min ago	1.82 bp	4.8 bp −$5	6.8 bp −$68	doesn't fit	doesn't fit
Sell HTX live order book, 1 min ago	0.75 bp	9.3 bp −$9	15.6 bp −$156	72.2 bp −$7,215	doesn't fit

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	−0.1088%	1h	93.283	−0.067%	$197K	$229K	7x	as long as short
Arcus HYPE-USD	−0.0786%	1h	93.161	−0.198%	$1.2M	$3.9M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0176%	1h	93.591	+0.263%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0160%	1h	93.340	−0.006%	$705K	$961K	10x	as long as short
Backpack HYPE_USDC_PERP	−0.0124%	1h	93.305	−0.044%	$7.9M	$10.6M	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.255	−0.097%	$3K	$331	25x	as long as short
Gate HYPE_USDT	−0.0074%	4h	93.301	−0.048%	$44.2M	$53.3M	75x	as long as short
01 Exchange HYPEUSD	−0.0056%	1h	93.369	+0.025%	$85K	$360K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0043%	4h	93.267	−0.084%	$158K	$647K	20x	as long as short
Bluefin HYPE-PERP	−0.0041%	1h	93.296	−0.053%	$79K	$170K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	−0.0021%	4h	93.234	−0.120%	$8.9M	$36.1M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.297	−0.053%	$128K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.363	+0.018%	$23K	$330K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.286	−0.064%	$26K	—	150x	as long as short
Derive HYPE-PERP	+0.0020%	1h	93.287	−0.063%	$16.3M	$7.5M	10x	as long as short
Bybit HYPEUSDT	+0.0024%	8h	93.250	−0.103%	$320.4M	$279.9M	75x	as long as short
Phemex HYPEUSDT	+0.0032%	8h	93.355	+0.010%	$12.7M	$2.6M	50x	as long as short
Phoenix HYPE	+0.0034%	1h	93.488	+0.152%	$212K	$1.2M	10x	as long as short
MEXC HYPE_USDT	+0.0042%	4h	93.346	0.000%	$86.9M	$81.1M	100x	as long as short
Binance HYPEUSDT	+0.0043%	4h	93.294	−0.056%	$380.3M	$900.1M	75x	as long as short
BingX HYPE-USDT	+0.0051%	4h	93.250	−0.103%	—	$54.0M	—	as long as short
edgeX HYPEUSDC	+0.0060%	4h	93.655	+0.331%	$5.1M	$29.7M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0069%	8h	93.265	−0.086%	$115.2M	$313.8M	50x	as long as short
Bullet HYPE-USD	+0.0074%	1h	93.307	−0.041%	$112K	$579K	20x	as long as short
Popdex HYPEUSDT	+0.0088%	1h	93.353	+0.008%	$64K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0088%	1h	93.297	−0.052%	$397K	$177K	20x	as long as short
Lighter HYPE	+0.0088%	1h	93.232	−0.122%	$18.6M	$58.3M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.298	−0.051%	$3.0M	$11.6M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0098%	8h	93.283	−0.067%	$339K	$165K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.330	−0.017%	$34K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.365	+0.021%	$6.6M	$44.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.386	+0.043%	$2.03B	$671.7M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.273	−0.077%	$10.0M	$14.7M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.357	+0.012%	$46.3M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.363	+0.019%	$225.9M	$100.5M	75x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.379	+0.035%	$30.9M	$53.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.426	+0.086%	$7.5M	$46.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.599	+0.271%	$339K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.373	+0.029%	$666K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.391	+0.049%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.385	+0.042%	$476K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.378	+0.035%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.360	+0.015%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.894	+0.587%	$204K	$10K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.234	−0.119%	$18.3M	$44.7M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0136%	1h	93.380	+0.037%	$4.9M	$5.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0137%	1h	93.270	−0.081%	$30K	$338K	12x	as long as short
BloFin HYPE-USDT	+0.0170%	4h	93.394	+0.052%	$17.0M	$12.1M	75x	as long as short
RISEx HYPE/USDClong	+0.0210%	1h	93.346	long leg	$2.7M	$6.7M	20x
Kalshi KXHYPEPERP	+0.0249%	8h	93.427	+0.087%	$1.9M	$5.2M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0253%	1h	93.345	0.000%	$79K	$143K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0334% / S −0.0158%	1h	93.312	−0.036%	$1.4M	—	100x	as long as short
HTX HYPE-USDTshort	+0.0342%	4h	93.503	+0.168%	$1.5M	$6.0M	75x
Deribit HYPE_USDC-PERPETUAL	+0.0543%	1h	93.431	+0.091%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0682%	1h	93.445	+0.107%	$20.8M	$29.8M	50x	as long as short