Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.009%

Price spread now: SunX against Vest+0.019%7-day average +0.070% · you sell dearer than you buy

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

Long on Vest Short on SunX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.125%+$13 on $10k

Price spread, last 4 days (all we have)+0.098%+$10 · spread now +0.019%, 7d avg +0.070%

Together, before fees+0.223%+ Points / potential airdropVest: Active · farm board+$22 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: SunX is 0.050% cheaper against Vest than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.070%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest HYPE-PERP	94.214	0.0100	pay 0.0013% / 1h	35m 57s	—	$190K	5x
Short	SunX HYPE-USDT	94.232	0.0100	get 0.0050% / 4h	35m 57s	$32K	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.019%Rate

Funding earned: $0
Price spread: +0.019% → +0.070%: −$5.04
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee SunX: 4 bp × 2 orders: −$8
Net: −$15.04
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Vest: no order-book sample; SunX: live order book, 9 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 SunX live order book, 9 min ago	19.36 bp	33.0 bp −$33	doesn't fit	doesn't fit	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	−0.1592%	1h	94.119	−0.100%	$201K	$251K	7x	as long as short
Bluefin HYPE-PERP	−0.0389%	1h	94.150	−0.068%	$80K	$154K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0214%	1h	94.100	−0.121%	$710K	$1.2M	10x	as long as short
Bullet HYPE-USD	−0.0205%	1h	94.170	−0.047%	$111K	$576K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0133%	1h	94.372	+0.168%	$22K	$20K	10x	as long as short
01 Exchange HYPEUSD	−0.0120%	1h	94.137	−0.082%	$86K	$367K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.164	−0.053%	$3K	$331	25x	as long as short
Derive HYPE-PERP	−0.0054%	1h	94.092	−0.129%	$16.4M	$7.5M	10x	as long as short
Arcus HYPE-USD	−0.0045%	1h	94.098	−0.123%	$1.0M	$3.6M	10x	as long as short
Bybit HYPEUSDT	−0.0016%	8h	94.111	−0.109%	$316.4M	$289.6M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX HYPE-USDT	−0.0016%	4h	94.127	−0.092%	—	$53.2M	—	as long as short
Orderly PERP_HYPE_USDC	−0.0002%	4h	94.159	−0.058%	$146K	$684K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.232	+0.019%	$129K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.221	+0.007%	$1.8M	$5.6M	2.3x	as long as short
Phoenix HYPE	0.0000%	1h	94.440	+0.240%	$209K	$1.1M	10x	as long as short
Perpl HYPE	0.0000%	43m	94.183	−0.032%	$19K	$288K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.195	−0.021%	$122K	—	150x	as long as short
Lighter HYPE	+0.0016%	1h	94.129	−0.090%	$16.3M	$64.2M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0036%	1h	94.166	−0.051%	$494K	$2.8M	20x	as long as short
Bitget HYPEUSDT	+0.0038%	4h	94.124	−0.096%	$226.3M	$99.8M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0044%	8h	94.147	−0.071%	$336K	$156K	20x	as long as short
Phemex HYPEUSDT	+0.0052%	8h	94.162	−0.055%	$12.8M	$2.9M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0064%	1h	94.180	−0.036%	$4.7M	$6.2M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0079%	8h	94.121	−0.099%	$117.4M	$324.1M	50x	as long as short
edgeX HYPEUSDC	+0.0080%	4h	94.322	+0.114%	$5.0M	$30.7M	30x	as long as short
SoDEX HYPE-USD	+0.0082%	1h	94.134	−0.085%	$2.0M	$1.9M	10x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.136	−0.083%	$3.2M	$10.8M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.106	−0.115%	$81K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.120	−0.100%	$30K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.136	−0.083%	$7.3M	$52.6M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.248	+0.036%	$2.07B	$688.3M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.132	−0.087%	$8.8M	$37.2M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.167	−0.050%	$10.1M	$15.3M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.138	−0.081%	$377.0M	$934.8M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.280	+0.070%	$218K	$12K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.114	−0.106%	$49.7M	$56.5M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.143	−0.075%	$89.4M	$83.4M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.139	−0.080%	$46.7M	$18.9M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.126	−0.093%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.087	−0.135%	$29.4M	$54.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.380	+0.176%	$7.6M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.340	+0.134%	$369K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.207	−0.007%	$681K	$2.7M	20x	as long as short
Vest HYPE-PERPlong	+0.0100%	1h	94.214	long leg	—	$190K	5x
SunX HYPE-USDTshort	+0.0100%	4h	94.232	+0.019%	$32K	$1.6M	20x
HTX HYPE-USDT	+0.0100%	4h	94.250	+0.038%	$1.4M	$6.8M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.096	−0.126%	$18.3M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.175	−0.041%	$398K	$159K	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0150% / S +0.0021%	1h	94.212	−0.003%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0185%	1h	94.250	+0.038%	$7.4M	$4.3M	50x	as long as short
Injective HYPE/USDC PERP	+0.0185%	1h	94.130	−0.089%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0223%	1h	94.200	−0.014%	$20.2M	$30.3M	50x	as long as short
RISEx HYPE/USDC	+0.0249%	1h	94.133	−0.086%	$3.2M	$6.4M	20x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.130	−0.089%	$84K	$125K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.143	−0.075%	$17.0M	$12.3M	75x	as long as short