Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.060%

Price spread now: BloFin against StandX−0.089%104s7-day average +0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs+$23as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$240.241% of the position

Long on StandX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.470%+$47 on $10k

Price spread, last 4 days (all we have)−0.018%−$2 · spread now −0.089%, 7d avg +0.006%

Together, before fees+0.452%+ Points / potential airdropStandX: Active · farm board+$45 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.095% cheaper against StandX than usual: you would sell low and buy high (spread −0.089% now, against its 7-day average of +0.006%). If the spread goes back, that is −$10 on $10k: about 32 hours of funding at the current rate (+$7 a day). The two prices were read 104 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	StandX HYPE-USD	92.765	0.0100	pay 0.0013% / 1h	21m 34s	$667K	$2.9M	20x
Short	BloFin HYPE-USDT	92.682	0.0340	get 0.0170% / 4h	3h 21m	$16.7M	$11.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against StandX. 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 StandXbpFee BloFinbpOrdersPrice spread, now −0.089%Rate

Funding earned: $50.4
Price spread: −0.089% → +0.006%: −$9.52
Slippage, 4 orders: −$4.07
Fee StandX: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: $16.81
Costs to cover: 0.241%
Break-even: 4.7 days

Slippage from StandX: live order book, 2 min ago; BloFin: live order book, 2 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 StandX live order book, 2 min ago	1.13 bp	5.1 bp −$5	5.4 bp −$54	11.9 bp −$1,188	doesn't fit
Sell BloFin live order book, 2 min ago	0.65 bp	6.7 bp −$7	8.8 bp −$88	12.6 bp −$1,259	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	−0.1712%	1h	92.605	−0.173%	$193K	$232K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0303%	1h	92.786	+0.023%	$22K	$21K	10x	as long as short
Arcus HYPE-USD	−0.0194%	1h	92.841	+0.082%	$1.1M	$3.9M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.866	+0.109%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0060%	4h	92.697	−0.073%	$145K	$681K	20x	as long as short
Bullet HYPE-USD	−0.0003%	1h	92.702	−0.068%	$112K	$577K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.850	+0.091%	$127K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.870	+0.113%	$22K	$293K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.735	−0.033%	$62K	—	150x	as long as short
Ondo Perps HYPE-USD.P	+0.0018%	1h	92.830	+0.070%	$697K	$1.1M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange HYPEUSD	+0.0024%	1h	92.908	+0.154%	$87K	$364K	20x	as long as short
Phoenix HYPE	+0.0026%	1h	92.921	+0.168%	$208K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0032%	8h	92.880	+0.124%	$316.0M	$283.3M	75x	as long as short
Popdex HYPEUSDT	+0.0040%	1h	92.890	+0.135%	$81K	$1.1M	50x	as long as short
Bitget HYPEUSDT	+0.0044%	4h	92.891	+0.136%	$224.9M	$99.0M	75x	as long as short
Phemex HYPEUSDT	+0.0060%	8h	92.700	−0.070%	$12.5M	$2.7M	50x	as long as short
Gate HYPE_USDT	+0.0092%	4h	92.858	+0.100%	$45.1M	$54.5M	75x	as long as short
Lighter HYPE	+0.0096%	1h	92.820	+0.059%	$16.0M	$62.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.800	+0.038%	$3.1M	$11.6M	20x	as long as short
edgeX HYPEUSDC	+0.0098%	4h	92.694	−0.077%	$4.9M	$29.6M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	92.874	+0.117%	$339K	$163K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.870	+0.113%	$34K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.805	+0.043%	$7.4M	$46.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.906	+0.152%	$2.02B	$666.6M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	92.867	+0.110%	$8.7M	$36.2M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	92.854	+0.096%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.880	+0.124%	$373.5M	$906.5M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	92.885	+0.129%	$114.1M	$304.0M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.709	−0.061%	$202K	$13K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.855	+0.097%	$91.3M	$81.2M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.831	+0.071%	$46.2M	$18.4M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	92.860	+0.102%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.693	−0.078%	$7.2M	$11.2M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.768	+0.003%	$28.5M	$57.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.808	+0.046%	$7.5M	$46.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.725	−0.043%	$340K	$1.0M	50x	as long as short
StandX HYPE-USDlong	+0.0100%	1h	92.765	long leg	$667K	$2.9M	20x
Vest HYPE-PERP	+0.0100%	1h	92.877	+0.121%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.908	+0.154%	$487K	$2.7M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.702	−0.068%	$78K	$166K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.690	−0.080%	$16.0M	$7.6M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.670	−0.102%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.702	−0.068%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.812	+0.051%	$1.4M	$6.3M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.834	+0.074%	$18.0M	$43.6M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.691	−0.080%	$392K	$164K	20x	as long as short
Kalshi KXHYPEPERP	+0.0132%	8h	92.718	−0.051%	$1.8M	$5.4M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	92.770	+0.005%	$4.7M	$5.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0197%	1h	92.768	+0.003%	$20.6M	$29.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0242%	1h	92.640	−0.135%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0266%	1h	92.873	+0.116%	$79K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.738	−0.029%	$1.4M	—	100x	as long as short
BloFin HYPE-USDTshort	+0.0340%	4h	92.682	−0.089%	$16.7M	$11.6M	75x
Deribit HYPE_USDC-PERPETUAL	+0.0343%	1h	92.797	+0.034%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0598%	1h	92.924	+0.171%	$3.2M	$6.4M	20x	as long as short