Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.008%

Price spread now: KuCoin against Aevo−0.038%57s7-day average −0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$480.481% of the position

Long on Aevo Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.022%−$2 on $10k

Price spread, last 3 days (all we have)+0.069%+$7 · spread now −0.038%, 7d avg −0.010%

Together, before fees+0.048%+$5 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: KuCoin is 0.029% cheaper against Aevo than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.010%. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo HYPE-PERP	94.004	0.0096	pay 0.0012% / 1h	58m 23s	$400K	$190K	20x
Short	KuCoin HYPEUSDTM	93.968	0.0100	get 0.0050% / 4h	3h 58m	$46.5M	$18.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Aevo. 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 AevobpFee KuCoinbpOrdersPrice spread, now −0.038%Rate

Funding earned: $0.84
Price spread: −0.038% → −0.010%: −$2.86
Slippage, 4 orders: −$20.11
Fee Aevo: 8 bp × 2 orders: −$16
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$50.14
Costs to cover: 0.481%
Break-even: 424.8 days

Slippage from Aevo: live order book, 16 min ago; KuCoin: live order book, 11 min ago.

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 Aevo live order book, 16 min ago	2.31 bp	12.0 bp −$12	16.4 bp −$164	20.8 bp −$2,076	doesn't fit
Sell KuCoin live order book, 11 min ago	0.05 bp	6.9 bp −$7	13.0 bp −$130	doesn't fit	doesn't fit

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	−0.1416%	1h	93.956	−0.051%	$199K	$229K	7x	as long as short
dYdX HYPE-USD	−0.0717%	1h	93.909	−0.101%	$128K	$30K	5x	as long as short
Arcus HYPE-USD	−0.0625%	1h	93.855	−0.159%	$1.2M	$3.8M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0330%	1h	93.987	−0.018%	$22K	$22K	10x	as long as short
Bybit HYPEUSDT	−0.0152%	8h	93.940	−0.068%	$323.2M	$283.6M	75x	as long as short
01 Exchange HYPEUSD	−0.0120%	1h	93.967	−0.039%	$86K	$367K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0087%	1h	93.810	−0.207%	$705K	$923K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.955	−0.052%	$3K	$331	25x	as long as short
Derive HYPE-PERP	−0.0015%	1h	93.908	−0.103%	$16.4M	$7.2M	10x	as long as short
Orderly PERP_HYPE_USDC	−0.0007%	4h	93.971	−0.035%	$169K	$594K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	93.955	−0.052%	$23K	$329K	10x	as long as short
Bullet HYPE-USD	+0.0001%	1h	93.982	−0.023%	$112K	$579K	20x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	94.014	+0.011%	$27K	—	150x	as long as short
Phoenix HYPE	+0.0009%	1h	94.114	+0.117%	$218K	$1.2M	10x	as long as short
Aster HYPEUSDT	+0.0015%	4h	93.966	−0.041%	$8.9M	$36.2M	300x	as long as short
Popdex HYPEUSDT	+0.0016%	1h	93.967	−0.039%	$60K	$1.2M	50x	as long as short
Phemex HYPEUSDT	+0.0023%	8h	94.030	+0.028%	$12.8M	$2.6M	50x	as long as short
Binance HYPEUSDT	+0.0044%	4h	93.984	−0.021%	$383.9M	$898.9M	75x	as long as short
SoDEX HYPE-USD	+0.0045%	1h	93.972	−0.034%	$2.0M	$2.0M	10x	as long as short
MEXC HYPE_USDT	+0.0046%	4h	93.971	−0.035%	$88.1M	$81.8M	100x	as long as short
edgeX HYPEUSDC	+0.0053%	4h	93.991	−0.014%	$5.1M	$29.7M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0086%	8h	93.965	−0.042%	$116.0M	$322.6M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.996	−0.009%	$18.9M	$58.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.963	−0.044%	$3.1M	$12.0M	20x	as long as short
Aevo HYPE-PERPlong	+0.0096%	1h	94.004	long leg	$400K	$190K	20x
Paradex HYPE-USD-PERP	+0.0099%	8h	94.001	−0.003%	$341K	$171K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.040	+0.038%	$42K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.969	−0.037%	$6.6M	$44.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.068	+0.068%	$2.05B	$680.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.975	−0.031%	$10.1M	$14.6M	20x	as long as short
Gate HYPE_USDT	+0.0100%	4h	93.950	−0.058%	$44.3M	$58.3M	75x	as long as short
KuCoin HYPEUSDTMshort	+0.0100%	4h	93.968	−0.038%	$46.5M	$18.5M	75x
Bitget HYPEUSDT	+0.0100%	4h	93.979	−0.027%	$227.7M	$101.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.973	−0.033%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.971	−0.035%	$7.7M	$10.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.972	−0.034%	$31.4M	$54.2M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.052	+0.051%	$7.6M	$45.4M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.033	+0.031%	$340K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.016	+0.013%	$680K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.997	−0.008%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.990	−0.015%	$472K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.016	+0.013%	$32K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.146	+0.151%	$1.5M	$7.8M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.944	−0.064%	$205K	$6K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.947	−0.061%	$18.4M	$42.6M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	94.080	+0.081%	$4.9M	$5.7M	50x	as long as short
Kalshi KXHYPEPERP	+0.0162%	8h	94.045	+0.043%	$1.9M	$5.1M	2.3x	as long as short
BloFin HYPE-USDT	+0.0188%	4h	93.972	−0.034%	$17.0M	$12.6M	75x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	93.990	−0.015%	$31K	$338K	12x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	94.006	+0.002%	$2.8M	$6.9M	20x	as long as short
Reya HYPERUSDPERP	+0.0250%	1h	93.957	−0.050%	$77K	$142K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0157%	1h	94.011	+0.007%	$1.5M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0378%	1h	94.079	+0.080%	$7.5M	$4.7M	50x	as long as short
Bluefin HYPE-PERP	+0.0558%	1h	93.999	−0.005%	$76K	$171K	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0671%	1h	94.089	+0.091%	$21.0M	$29.5M	50x	as long as short