Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0185%/8h= −20.3% APRpaid last 24h −0.011%

Price spread now: Vest against Variational Omni+0.172%7-day average +0.023% · you sell dearer than you buy

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

Long on Variational Omni Short on Vest

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.129%−$13 on $10k

Price spread, last 4 days (all we have)+0.020%+$2 · spread now +0.172%, 7d avg +0.023%

Together, before fees−0.110%+ Points / potential airdropVariational Omni: Active · Vest: Active · farm board−$11 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Vest is 0.149% dearer against Variational Omni than usual: you sell high and buy low (spread +0.172% now, against its 7-day average of +0.023%): +$15 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 2.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni HYPE	94.906	0.0100	pay 0.0100% / 8h	6h 17m	$29.8M	$54.5M	—
Short	Vest HYPE-PERP	95.069	−0.0085	pay 0.0011% / 1h	17m 52s	—	$80K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 VestbpOrdersPrice spread, now +0.172%Rate

Funding earned: −$38.89
Price spread: +0.172% → +0.023%: $14.93
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Vest: 1 bp × 2 orders: −$2
Net: −$25.96
Costs to cover: 0.020%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Vest: no order-book sample. 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, 4 min ago	0.44 bp	doesn't fit	4.7 bp −$47	13.6 bp −$1,365	doesn't fit
Sell Vest no order-book sample	—	—	—	—	—

Vest: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

HYPE on 54 exchanges

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	−0.1416%	1h	94.863	−0.045%	$211K	$262K	7x	as long as short
Bluefin HYPE-PERP	−0.0553%	1h	95.071	+0.174%	$79K	$138K	20x	as long as short
Kraken Futures PF_HYPEUSD	−0.0376%	1h	95.063	+0.165%	$18.6M	$35.5M	50x	as long as short
Bullet HYPE-USD	−0.0338%	1h	95.043	+0.145%	$114K	$581K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0243%	1h	94.930	+0.026%	$691K	$1.3M	10x	as long as short
Phemex HYPEUSDT	−0.0205%	8h	95.011	+0.111%	$13.0M	$2.8M	50x	as long as short
Arcus HYPE-USD	−0.0159%	1h	95.022	+0.123%	$1.1M	$2.5M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0154%	1h	94.975	+0.074%	$22K	$17K	10x	as long as short
01 Exchange HYPEUSD	−0.0144%	1h	95.044	+0.146%	$92K	$348K	20x	as long as short
Vest HYPE-PERPshort	−0.0085%	1h	95.069	+0.172%	—	$80K	5x

Show all 54 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hotstuff HYPE-PERP	−0.0080%	1h	94.955	+0.052%	$3K	$331	25x	as long as short
Gate HYPE_USDT	−0.0068%	4h	95.024	+0.125%	$54.2M	$54.6M	75x	as long as short
Orderly PERP_HYPE_USDC	−0.0024%	4h	95.025	+0.126%	$148K	$646K	20x	as long as short
Coinbase International HYPE-PERP-INTX	−0.0024%	1h	95.090	+0.194%	$4.7M	$5.6M	50x	as long as short
SoDEX HYPE-USD	−0.0009%	1h	95.051	+0.153%	$2.1M	$378K	10x	as long as short
Aster HYPEUSDT	−0.0002%	4h	95.024	+0.125%	$9.0M	$34.2M	300x	as long as short
OKX HYPE-USDT-SWAP	−0.0001%	8h	94.986	+0.085%	$118.9M	$312.4M	50x	as long as short
dYdX HYPE-USD	0.0000%	1h	95.014	+0.114%	$130K	$92K	5x	as long as short
Perpl HYPE	0.0000%	43m	95.052	+0.154%	$24K	$263K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	94.990	+0.089%	$99K	—	150x	as long as short
BingX HYPE-USDT	+0.0002%	4h	95.019	+0.120%	—	$49.1M	—	as long as short
Phoenix HYPE	+0.0017%	1h	94.881	−0.026%	$200K	$1.0M	10x	as long as short
Lighter HYPE	+0.0024%	1h	95.038	+0.140%	$16.2M	$61.1M	20x	as long as short
Bulk HYPE-USD	+0.0031%	1h	95.069	+0.172%	$231K	$12K	10x	as long as short
Bitget HYPEUSDT	+0.0032%	4h	95.020	+0.121%	$228.3M	$89.6M	75x	as long as short
Bybit HYPEUSDT	+0.0036%	8h	95.020	+0.121%	$320.4M	$272.5M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0062%	8h	95.005	+0.105%	$339K	$36K	20x	as long as short
edgeX HYPEUSDC	+0.0093%	4h	94.934	+0.030%	$5.0M	$29.9M	30x	as long as short
Lighter RH HYPE	+0.0096%	1h	95.053	+0.155%	$3.2M	$10.0M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	95.024	+0.125%	$270K	$1.1M	50x	as long as short
Polymarket Perps HYPE-USD	+0.0097%	1h	95.064	+0.167%	$499K	$2.5M	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	94.970	+0.068%	$39K	$1.5M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.978	+0.077%	$7.3M	$53.2M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	95.141	+0.248%	$2.11B	$657.1M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	95.039	+0.141%	$10.2M	$13.6M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	95.014	+0.115%	$381.8M	$876.8M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	95.019	+0.120%	$89.2M	$87.6M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	95.035	+0.136%	$47.2M	$17.8M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	95.123	+0.229%	$7.8M	$10.2M	20x	as long as short
Variational Omni HYPElong	+0.0100%	8h	94.906	long leg	$29.8M	$54.5M	—
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.825	−0.085%	$7.7M	$41.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.974	+0.072%	$348K	$965K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.957	+0.054%	$691K	$2.7M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	95.089	+0.193%	$32K	$1.4M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.114	+0.220%	$1.4M	$6.4M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.981	+0.080%	$18.2M	$40.6M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	95.040	+0.141%	$402K	$130K	20x	as long as short
Kalshi KXHYPEPERP	+0.0108%	8h	95.108	+0.213%	$1.8M	$5.2M	2.3x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0129%	1h	95.138	+0.245%	$7.5M	$4.3M	50x	as long as short
RISEx HYPE/USDC	+0.0166%	1h	95.083	+0.187%	$3.2M	$5.5M	20x	as long as short
Reya HYPERUSDPERP	+0.0270%	1h	95.016	+0.116%	$85K	$99K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0155%	1h	95.011	+0.112%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.975	+0.073%	$17.3M	$11.8M	75x	as long as short
Injective HYPE/USDC PERP	+0.0850%	1h	95.480	+0.605%	$31K	$335K	12x	as long as short