Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%

Price spread now: StandX against Variational Omni+0.154%7-day average +0.028% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on StandX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 7 days−0.157%−$16 · spread now +0.154%, 7d avg +0.028%

Together, before fees−0.157%+ Points / potential airdropVariational Omni: Active · StandX: Active · farm board−$16 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: StandX is 0.126% dearer against Variational Omni than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of +0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni HYPE	93.219	0.0100	pay 0.0100% / 8h	6h 01m	$31.1M	$54.3M	—
Short	StandX HYPE-USD	93.362	0.0100	get 0.0013% / 1h	1m 00s	$666K	$2.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

StandX against Variational Omni. 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 Variational OmnibpFee StandXbpOrdersPrice spread, now +0.154%Rate

Funding earned: $0
Price spread: +0.154% → +0.028%: $12.62
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee StandX: 4 bp × 2 orders: −$8
Net: $4.62
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; StandX: live order book, 3 min ago. Net counts fees only.

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, 3 min ago	0.42 bp	doesn't fit	6.4 bp −$64	18.8 bp −$1,883	doesn't fit
Sell StandX live order book, 3 min ago	1.34 bp	5.3 bp −$5	5.6 bp −$56	14.0 bp −$1,399	doesn't fit

HYPE on 54 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	−0.1128%	1h	93.234	+0.016%	$196K	$226K	7x	as long as short
Arcus HYPE-USD	−0.0786%	1h	93.152	−0.072%	$1.2M	$3.8M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.296	+0.083%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0063%	1h	93.220	+0.001%	$698K	$904K	10x	as long as short
Phemex HYPEUSDT	−0.0052%	8h	93.290	+0.077%	$12.6M	$2.7M	50x	as long as short
Orderly PERP_HYPE_USDC	−0.0051%	4h	93.258	+0.042%	$156K	$640K	20x	as long as short
01 Exchange HYPEUSD	−0.0040%	1h	93.279	+0.065%	$85K	$346K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0012%	1h	93.422	+0.218%	$22K	$21K	10x	as long as short
Aster HYPEUSDT	−0.0001%	4h	93.246	+0.029%	$8.8M	$35.7M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.294	+0.081%	$128K	$31K	5x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	93.260	+0.044%	$22K	$321K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.273	+0.059%	$25K	—	150x	as long as short
BingX HYPE-USDT	+0.0012%	4h	93.228	+0.010%	—	$53.2M	—	as long as short
Gate HYPE_USDT	+0.0014%	4h	93.227	+0.009%	$44.4M	$55.9M	75x	as long as short
Bybit HYPEUSDT	+0.0015%	8h	93.210	−0.009%	$319.8M	$275.9M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0021%	1h	93.223	+0.005%	$7.4M	$10.4M	20x	as long as short
Phoenix HYPE	+0.0060%	1h	93.424	+0.220%	$210K	$1.2M	10x	as long as short
OKX HYPE-USDT-SWAP	+0.0076%	8h	93.227	+0.009%	$114.5M	$301.0M	50x	as long as short
Bullet HYPE-USD	+0.0077%	1h	93.253	+0.037%	$111K	$578K	20x	as long as short
Binance HYPEUSDT	+0.0080%	4h	93.221	+0.003%	$379.2M	$878.4M	75x	as long as short
MEXC HYPE_USDT	+0.0080%	4h	93.233	+0.015%	$88.0M	$83.5M	100x	as long as short
edgeX HYPEUSDC	+0.0083%	4h	93.380	+0.173%	$5.0M	$30.0M	30x	as long as short
Bluefin HYPE-PERP	+0.0094%	1h	93.201	−0.019%	$79K	$170K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.272	+0.057%	$16.3M	$62.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.264	+0.049%	$3.1M	$11.9M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.261	+0.045%	$67K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.331	+0.121%	$339K	$163K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.280	+0.066%	$12K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.293	+0.079%	$5.7M	$43.6M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.355	+0.146%	$2.04B	$657.9M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.297	+0.084%	$10.0M	$14.7M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.335	+0.125%	$203K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.263	+0.048%	$46.2M	$18.0M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.228	+0.010%	$225.6M	$96.9M	75x	as long as short
Variational Omni HYPElong	+0.0100%	8h	93.219	long leg	$31.1M	$54.3M	—
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.419	+0.215%	$7.5M	$46.9M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.390	+0.184%	$337K	$1.0M	50x	as long as short
StandX HYPE-USDshort	+0.0100%	1h	93.362	+0.154%	$666K	$2.6M	20x
Vest HYPE-PERP	+0.0100%	1h	93.335	+0.124%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.286	+0.072%	$474K	$2.4M	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.233	+0.015%	$16.2M	$7.6M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.358	+0.149%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.237	+0.020%	$2.0M	$1.9M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.218	0.000%	$18.3M	$43.6M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.254	+0.037%	$397K	$172K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0136%	1h	93.350	+0.141%	$4.9M	$5.4M	50x	as long as short
Injective HYPE/USDC PERP	+0.0137%	1h	94.180	+1.031%	$31K	$339K	12x	as long as short
HTX HYPE-USDT	+0.0201%	4h	93.450	+0.248%	$1.4M	$5.9M	75x	as long as short
RISEx HYPE/USDC	+0.0210%	1h	93.355	+0.146%	$3.2M	$6.7M	20x	as long as short
Reya HYPERUSDPERP	+0.0256%	1h	93.234	+0.017%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0278%	8h	93.306	+0.094%	$1.9M	$4.9M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0156%	1h	93.270	+0.055%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0415%	1h	93.349	+0.140%	$7.4M	$4.4M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0683%	1h	93.331	+0.120%	$20.8M	$30.0M	50x	as long as short