Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0068%/8h= −7.4% APRpaid last 24h +0.030%

Price spread now: Gate against Arcus−0.003%7-day average +0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$240.243% of the position

Long on Arcus Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.032%+$3 on $10k

Price spread, last 7 days−0.026%−$3 · spread now −0.003%, 7d avg +0.001%

Together, before fees+0.005%+$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.001%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus HYPE-USD	93.569	0.0100	pay 0.0013% / 1h	16m 06s	$1.2M	$4.0M	10x
Short	Gate HYPE_USDT	93.566	0.0032	get 0.0016% / 4h	2h 16m	$43.9M	$57.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Arcus. 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 ArcusbpFee GatebpOrdersPrice spread, now −0.003%Rate

Funding earned: −$14.28
Price spread: −0.003% → +0.001%: −$0.43
Slippage, 4 orders: −$4.77
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$38.98
Costs to cover: 0.243%
Break-even: never at this rate

Slippage from Arcus: live order book, 3 min ago; Gate: live order book, 3 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 Arcus live order book, 3 min ago	0.27 bp	3.2 bp −$3	4.2 bp −$42	21.0 bp −$2,099	doesn't fit
Sell Gate live order book, 3 min ago	0.05 bp	7.7 bp −$8	13.5 bp −$135	29.0 bp −$2,896	51.6 bp −$25.8K

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	−0.0960%	1h	93.583	+0.015%	$198K	$233K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0274%	1h	93.648	+0.084%	$22K	$22K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0235%	1h	93.590	+0.022%	$702K	$934K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.588	+0.020%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0064%	1h	93.592	+0.025%	$90K	$347K	20x	as long as short
Bullet HYPE-USD	−0.0027%	1h	93.569	0.000%	$111K	$582K	20x	as long as short
Derive HYPE-PERP	−0.0021%	1h	93.524	−0.049%	$16.4M	$7.0M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.645	+0.081%	$127K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.628	+0.063%	$23K	$337K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.609	+0.042%	$20K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0021%	4h	93.575	+0.006%	$8.9M	$35.8M	300x	as long as short
Gate HYPE_USDTshort	+0.0032%	4h	93.566	−0.003%	$43.9M	$57.3M	75x
Bybit HYPEUSDT	+0.0035%	8h	93.570	+0.001%	$325.9M	$287.0M	75x	as long as short
Popdex HYPEUSDT	+0.0048%	1h	93.574	+0.005%	$59K	$1.2M	50x	as long as short
Orderly PERP_HYPE_USDC	+0.0059%	4h	93.602	+0.035%	$177K	$520K	20x	as long as short
Phoenix HYPE	+0.0068%	1h	93.603	+0.036%	$216K	$1.2M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.617	+0.051%	$18.6M	$59.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.603	+0.036%	$3.1M	$12.4M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0100%	8h	93.613	+0.047%	$340K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.590	+0.022%	$37K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.567	−0.002%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.679	+0.118%	$2.04B	$670.6M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.620	+0.055%	$10.0M	$14.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.564	−0.005%	$386.1M	$888.9M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.556	−0.014%	$114.9M	$315.9M	50x	as long as short
Arcus HYPE-USDlong	+0.0100%	1h	93.569	long leg	$1.2M	$4.0M	10x
Bulk HYPE-USD	+0.0100%	1h	93.690	+0.129%	$205K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.564	−0.005%	$93.6M	$82.3M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.575	+0.006%	$46.4M	$18.8M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.580	+0.012%	$227.3M	$102.4M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.572	+0.003%	—	$54.3M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.606	+0.040%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.660	+0.097%	$29.2M	$50.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.579	+0.011%	$7.5M	$45.3M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.678	+0.116%	$407K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.594	+0.027%	$677K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.615	+0.049%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.616	+0.050%	$494K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.590	+0.022%	$76K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.656	+0.093%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.565	−0.004%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.622	+0.057%	$12.8M	$2.6M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0102%	1h	93.672	+0.110%	$7.4M	$4.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.553	−0.017%	$18.3M	$41.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.580	+0.012%	$398K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0107%	4h	93.571	+0.002%	$5.1M	$29.7M	30x	as long as short
Kalshi KXHYPEPERP	+0.0119%	8h	93.666	+0.104%	$1.9M	$5.3M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.680	+0.119%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0246%	1h	93.567	−0.002%	$78K	$158K	15x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.910	+0.364%	$31K	$291K	12x	as long as short
HTX HYPE-USDT	+0.0298%	4h	93.778	+0.223%	$1.5M	$7.6M	75x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.599	+0.032%	$17.0M	$12.4M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0346% / S −0.0171%	1h	93.612	+0.046%	$1.5M	—	100x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.648	+0.084%	$2.8M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0572%	1h	93.677	+0.115%	$19.2M	$26.1M	50x	as long as short