Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.007%

Price spread now: StandX against Vest−0.619%7-day average +0.014% · you buy dearer than you sell

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

Long on Vest Short on StandX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.124%+$12 on $10k

Price spread, last 4 days (all we have)+0.698%+$70 · spread now −0.619%, 7d avg +0.014%

Together, before fees+0.822%+ Points / potential airdropVest: Active · StandX: Active · farm board+$82 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 0.633% cheaper against Vest than usual: you would sell low and buy high, −$63 on $10k if it goes back to its 7-day average of +0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest HYPE-PERP	94.227	0.0100	pay 0.0013% / 1h	24m 43s	—	$243K	5x
Short	StandX HYPE-USD	93.643	0.0100	get 0.0013% / 1h	24m 43s	$678K	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

StandX against Vest. 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 VestbpFee StandXbpOrdersPrice spread, now −0.619%Rate

Funding earned: $0
Price spread: −0.619% → +0.014%: −$63.32
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee StandX: 4 bp × 2 orders: −$8
Net: −$73.32
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Vest: no order-book sample; StandX: live order book, 4 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 Vest no order-book sample	—	—	—	—	—
Sell StandX live order book, 4 min ago	4.17 bp	9.7 bp −$10	11.8 bp −$118	37.0 bp −$3,696	doesn't fit

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 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	−0.1024%	1h	93.809	−0.443%	$199K	$238K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0211%	1h	93.708	−0.551%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.207	−0.021%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0062%	1h	94.170	−0.060%	$705K	$1.2M	10x	as long as short
Bullet HYPE-USD	−0.0058%	1h	94.228	+0.001%	$112K	$579K	20x	as long as short
01 Exchange HYPEUSD	−0.0032%	1h	94.240	+0.014%	$86K	$368K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0017%	4h	94.155	−0.076%	$146K	$683K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.880	−0.368%	$129K	$26K	5x	as long as short
Perpl HYPE	0.0000%	43m	94.227	0.000%	$20K	$290K	10x	as long as short
Bybit HYPEUSDT	+0.0002%	8h	94.240	+0.014%	$318.3M	$288.3M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	94.048	−0.189%	$83K	—	150x	as long as short
Derive HYPE-PERP	+0.0007%	1h	93.302	−0.981%	$16.2M	$7.5M	10x	as long as short
Bluefin HYPE-PERP	+0.0010%	1h	94.183	−0.046%	$80K	$156K	20x	as long as short
Phoenix HYPE	+0.0017%	1h	93.715	−0.543%	$209K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0052%	4h	94.254	+0.029%	$227.1M	$99.6M	75x	as long as short
Phemex HYPEUSDT	+0.0058%	8h	94.140	−0.092%	$12.8M	$2.8M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0078%	8h	94.266	+0.041%	$337K	$161K	20x	as long as short
edgeX HYPEUSDC	+0.0080%	4h	93.620	−0.644%	$5.0M	$30.5M	30x	as long as short
Arcus HYPE-USD	+0.0084%	1h	94.180	−0.049%	$1.0M	$4.0M	10x	as long as short
Lighter HYPE	+0.0096%	1h	94.253	+0.028%	$16.3M	$64.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.201	−0.027%	$3.2M	$11.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.198	−0.030%	$78K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.210	−0.018%	$21K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.208	−0.019%	$7.5M	$50.6M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.359	+0.141%	$2.07B	$684.6M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.267	+0.043%	$8.9M	$37.1M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.236	+0.010%	$10.2M	$15.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.253	+0.028%	$377.1M	$931.9M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	94.255	+0.030%	$116.3M	$317.3M	50x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.253	+0.028%	$49.0M	$55.9M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.243	+0.018%	$89.5M	$84.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.239	+0.013%	$46.6M	$18.7M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.240	+0.014%	—	$53.6M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.193	−0.036%	$7.2M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.009	−0.231%	$28.9M	$56.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.696	−0.563%	$7.6M	$48.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.663	−0.598%	$357K	$1.0M	50x	as long as short
StandX HYPE-USDshort	+0.0100%	1h	93.643	−0.619%	$678K	$2.7M	20x
Vest HYPE-PERPlong	+0.0100%	1h	94.227	long leg	—	$243K	5x
Polymarket Perps HYPE-USD	+0.0100%	1h	94.242	+0.016%	$473K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.232	+0.006%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.174	−0.056%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.335	+0.115%	$1.4M	$6.7M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.438	−0.836%	$216K	$15K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.219	−0.008%	$18.2M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.245	+0.019%	$398K	$159K	20x	as long as short
Kalshi KXHYPEPERP	+0.0105%	8h	94.251	+0.026%	$1.8M	$5.6M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	94.200	−0.028%	$4.7M	$6.2M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0151% / S +0.0022%	1h	93.681	−0.579%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0185%	1h	94.264	+0.040%	$7.5M	$4.3M	50x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.100	−0.134%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	93.879	−0.369%	$77K	$129K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.202	−0.026%	$17.0M	$12.3M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0413%	1h	94.258	+0.034%	$21.0M	$29.5M	50x	as long as short
RISEx HYPE/USDC	+0.0559%	1h	93.935	−0.309%	$3.2M	$6.3M	20x	as long as short