HYPE

Alert

Spread before costs (cost unknown: a leg has no order-book sample)−0.050%

7d average+0.016%if it closes, per $10,000$5funding while held, a day−$0.60

Long on Variational Omni Short on Bitget

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni HYPE	94.879	0.0100	pay 0.0100% / 8h	1h 58m	$29.9M	$48.7M	—
Short	Bitget HYPEUSDT	94.831	0.0080	get 0.0040% / 4h	1h 58m	$234.0M	$85.5M	75x

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

Profit calculator

Position, each leg$Hold forhoursFee Variational OmnibpFee BitgetbpOrdersClose when spread is

Spread captured: −$5.05
Funding while held: −$0.6
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$17.65
Spread needed to break even: 0.120%

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Bitget: live order book, 2 min ago. Net counts fees only.

Cost of waiting

funding view

Funding /8h: −0.0020%
Per $10,000 a day: −$0.60
Average in range /8h: —

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 Variational Omni RFQ quote, 2 min ago	0.43 bp	doesn't fit	6.3 bp −$63	21.7 bp −$2,173	doesn't fit
Sell Bitget live order book, 2 min ago	0.58 bp	8.4 bp −$8	10.6 bp −$106	17.8 bp −$1,781	doesn't fit

HYPE price on every exchange

against the cheapest. Click to use as the short leg.

Katana Perps94.720cheapest Arcus94.745+0.026%ApeX Omni94.754+0.036%dYdX94.776+0.059%Extended94.779+0.062%Bybit94.781+0.064%Aster94.792+0.076%Popdex94.792+0.076%KuCoin94.793+0.077%OKX94.796+0.080%Vest94.798+0.082%Hibachi94.802+0.087%SoDEX94.806+0.091%RISEx94.806+0.091%Hotstuff94.813+0.098%01 Exchange94.814+0.099%Lighter RH94.815+0.100%Nado94.816+0.101%Binance94.818+0.103%Ondo Perps94.820+0.106%Gate94.821+0.107%BingX94.821+0.107%Polymarket Perps94.826+0.112%Reya94.827+0.113%

Bitget94.831+0.117%

Hyperliquid94.837+0.124%Paradex94.840+0.126%Pacifica94.841+0.128%Lighter94.847+0.135%Derive94.855+0.143%MEXC94.858+0.146%BloFin94.859+0.147%edgeX94.866+0.154%Perpl94.867+0.155%GMX94.867+0.156%StandX94.869+0.157%Aftermath Perps94.870+0.159%Backpack94.871+0.159%

Variational Omni94.879+0.168%

Bluefin94.880+0.169%gTrade (Gains Network)94.883+0.173%Aevo94.891+0.180%Bullet94.892+0.182%Phemex94.908+0.198%Coinbase International94.910+0.201%Orderly94.913+0.204%Kraken Futures94.918+0.209%Phoenix94.930+0.222%Injective94.940+0.232%Kalshi94.950+0.243%Deribit94.952+0.245%SunX94.974+0.268%HTX95.039+0.337%Bulk95.228+0.536%

HYPE on 54 venues

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Katana Perps HYPE-USD	−0.167%	+0.0099%	8h	$16K	$1.4M	10x	as long as short
Arcus HYPE-USD	−0.141%	−0.0018%	1h	$1.2M	$4.1M	10x	as long as short
ApeX Omni HYPEUSDT	−0.132%	+0.0100%	1h	$417K	$925K	50x	as long as short
dYdX HYPE-USD	−0.108%	0.0000%	1h	$129K	$22K	5x	as long as short
Extended HYPE-USD	−0.105%	+0.0104%	1h	$18.5M	$35.5M	50x	as long as short
Bybit HYPEUSDT	−0.103%	+0.0047%	8h	$329.4M	$265.8M	75x	as long as short
Aster HYPEUSDT	−0.092%	−0.0047%	4h	$8.5M	$31.0M	300x	as long as short
Popdex HYPEUSDT	−0.092%	+0.0096%	1h	$85K	$990K	50x	as long as short
KuCoin HYPEUSDTM	−0.091%	+0.0026%	4h	$45.1M	$19.1M	75x	as long as short
OKX HYPE-USDT-SWAP	−0.087%	−0.0118%	8h	$121.3M	$285.5M	50x	as long as short

Show all 54 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Vest HYPE-PERP	−0.085%	+0.0011%	1h	—	$407K	5x	as long as short
Hibachi HYPE/USDT-P	−0.081%	−0.0224%	1h	$204K	$170K	7x	as long as short
SoDEX HYPE-USD	−0.077%	+0.0100%	1h	$2.0M	$1.9M	10x	as long as short
RISEx HYPE/USDC	−0.076%	+0.0120%	1h	$2.5M	$7.1M	20x	as long as short
Hotstuff HYPE-PERP	−0.069%	−0.0080%	1h	$3K	$307	25x	as long as short
01 Exchange HYPEUSD	−0.068%	+0.0064%	1h	$83K	$284K	20x	as long as short
Lighter RH HYPE	−0.067%	+0.0096%	1h	$2.9M	$10.4M	20x	as long as short
Nado HYPE-PERP	−0.066%	+0.0100%	1h	$5.6M	$41.5M	10x	as long as short
Binance HYPEUSDT	−0.064%	+0.0023%	4h	$400.9M	$730.0M	75x	as long as short
Ondo Perps HYPE-USD.P	−0.062%	+0.0100%	1h	$713K	$895K	10x	as long as short
Gate HYPE_USDT	−0.061%	−0.0066%	4h	$45.1M	$52.6M	75x	as long as short
BingX HYPE-USDT	−0.061%	−0.0118%	4h	—	$46.4M	—	as long as short
Polymarket Perps HYPE-USD	−0.056%	+0.0100%	1h	$486K	$2.4M	20x	as long as short
Reya HYPERUSDPERP	−0.055%	+0.0212%	1h	$74K	$282K	15x	as long as short
Bitget HYPEUSDTshort	−0.050%	+0.0080%	4h	$234.0M	$85.5M	75x
Hyperliquid HYPE	−0.044%	+0.0100%	1h	$2.07B	$510.2M	10x	as long as short
Paradex HYPE-USD-PERP	−0.041%	+0.0091%	8h	$339K	$286K	20x	as long as short
Pacifica HYPE	−0.040%	+0.0100%	1h	$11.5M	$11.7M	20x	as long as short
Lighter HYPE	−0.033%	+0.0096%	1h	$18.6M	$48.8M	20x	as long as short
Derive HYPE-PERP	−0.025%	+0.0100%	1h	$16.9M	$6.7M	10x	as long as short
MEXC HYPE_USDT	−0.022%	+0.0020%	4h	$92.5M	$78.2M	100x	as long as short
BloFin HYPE-USDT	−0.021%	+0.0082%	4h	$17.9M	$11.3M	75x	as long as short
edgeX HYPEUSDC	−0.014%	+0.0022%	4h	$5.1M	$24.4M	30x	as long as short
Perpl HYPE	−0.013%	0.0000%	43m	$30K	$320K	10x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	−0.012%	L +0.0352% / S −0.0163%	1h	$1.6M	—	100x	as long as short
StandX HYPE-USD	−0.010%	+0.0100%	1h	$730K	$2.1M	20x	as long as short
Aftermath Perps HYPEUSD	−0.009%	−0.0048%	1h	$20K	$31K	10x	as long as short
Backpack HYPE_USDC_PERP	−0.008%	+0.0100%	1h	$8.1M	$8.3M	20x	as long as short
Variational Omni HYPElong	0.000%	+0.0100%	8h	$29.9M	$48.7M	—
Bluefin HYPE-PERP	+0.001%	+0.0100%	1h	$70K	$196K	20x	as long as short
gTrade (Gains Network) HYPE/USD	+0.005%	L +0.0002% / S −0.0001%	1h	$19K	—	150x	as long as short
Aevo HYPE-PERP	+0.013%	+0.0080%	1h	$404K	$347K	20x	as long as short
Bullet HYPE-USD	+0.014%	+0.0100%	1h	$113K	$579K	20x	as long as short
Phemex HYPEUSDT	+0.031%	−0.0044%	8h	$12.9M	$2.1M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.033%	+0.0032%	1h	$5.0M	$5.2M	50x	as long as short
Orderly PERP_HYPE_USDC	+0.036%	−0.0341%	4h	$167K	$465K	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.042%	−0.0291%	1h	$16.6M	$18.6M	50x	as long as short
Phoenix HYPE	+0.054%	+0.0050%	1h	$297K	$989K	10x	as long as short
Injective HYPE/USDC PERP	+0.064%	+0.0375%	1h	$24K	$259K	12x	as long as short
Kalshi KXHYPEPERP	+0.075%	0.0000%	8h	$1.6M	$3.5M	2.3x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.077%	0.0000%	1h	$7.3M	$3.8M	50x	as long as short
SunX HYPE-USDT	+0.100%	+0.0100%	4h	$29K	$1.4M	20x	as long as short
HTX HYPE-USDT	+0.169%	+0.0142%	4h	$1.6M	$6.0M	75x	as long as short
Bulk HYPE-USD	+0.368%	+0.0100%	1h	$216K	$10K	10x	as long as short