Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0145%/8h= +15.9% APRpaid last 24h +0.100%

Price spread now: GRVT against Arcus−0.051%54s7-day average +0.029% · 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—prices read too far apart to compare

costs, in and out, $10k−$160.155% of the position

Long on Arcus Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.130%+$13 on $10k

Price spread, last 7 days+0.085%+$9 · spread now −0.051%, 7d avg +0.029%

Together, before fees+0.215%+ Points / potential airdropGRVT: Active · farm board+$22 on $10k · with fees, hour by hour

Funding pays, the price is against you. GRVT is 0.080% cheaper against Arcus than usual: you would sell low and buy high (spread −0.051% now, against its 7-day average of +0.029%). If the spread goes back, that is −$8 on $10k: about 44 hours of funding at the current rate (+$4 a day). The two prices were read 54 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	Arcus HYPE-USD	94.306	−0.0045	get 0.0006% / 1h	52m 46s	$1.0M	$3.6M	10x
Short	GRVT HYPE_USDT_Perp	94.258	0.0100	get 0.0050% / 4h	52m 46s	$7.6M	$46.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.051%Rate

Funding earned: $30.46
Price spread: −0.051% → +0.029%: −$8.04
Slippage, 4 orders: −$2.04
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $6.88
Costs to cover: 0.155%
Break-even: 5.4 days

Slippage from Arcus: live order book, 1 min ago; GRVT: live order book, 1 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, 1 min ago	0.64 bp	3.3 bp −$3	5.6 bp −$56	22.0 bp −$2,203	doesn't fit
Sell GRVT live order book, 1 min ago	0.05 bp	4.6 bp −$5	5.5 bp −$55	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	−0.1120%	1h	94.259	−0.050%	$201K	$234K	7x	as long as short
Bluefin HYPE-PERP	−0.0390%	1h	94.195	−0.118%	$80K	$155K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0209%	1h	94.270	−0.038%	$709K	$1.2M	10x	as long as short
Bullet HYPE-USD	−0.0187%	1h	94.221	−0.090%	$112K	$575K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0132%	1h	94.294	−0.013%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0112%	1h	94.272	−0.036%	$87K	$366K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.250	−0.059%	$3K	$331	25x	as long as short
Arcus HYPE-USDlong	−0.0045%	1h	94.306	long leg	$1.0M	$3.6M	10x
Derive HYPE-PERP	−0.0040%	1h	94.156	−0.159%	$16.4M	$7.5M	10x	as long as short
ApeX Omni HYPEUSDT	−0.0034%	1h	94.057	−0.264%	$362K	$1.0M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit HYPEUSDT	−0.0013%	8h	94.298	−0.008%	$317.3M	$289.5M	75x	as long as short
BingX HYPE-USDT	−0.0012%	4h	94.313	+0.007%	—	$53.5M	—	as long as short
Orderly PERP_HYPE_USDC	−0.0006%	4h	94.190	−0.123%	$146K	$685K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.353	+0.049%	$129K	$60K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.322	+0.017%	$1.8M	$5.5M	2.3x	as long as short
Phoenix HYPE	0.0000%	1h	94.351	+0.048%	$209K	$1.1M	10x	as long as short
Perpl HYPE	0.0000%	43m	94.230	−0.081%	$19K	$287K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.260	−0.049%	$117K	—	150x	as long as short
Bitget HYPEUSDT	+0.0038%	4h	94.309	+0.003%	$226.8M	$100.1M	75x	as long as short
Phemex HYPEUSDT	+0.0051%	8h	94.242	−0.068%	$12.9M	$2.9M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0058%	8h	94.336	+0.032%	$337K	$156K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0064%	1h	94.340	+0.036%	$4.7M	$6.2M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0088%	8h	94.303	−0.003%	$117.5M	$323.6M	50x	as long as short
edgeX HYPEUSDC	+0.0089%	4h	94.094	−0.225%	$5.0M	$30.6M	30x	as long as short
Lighter HYPE	+0.0096%	1h	94.323	+0.019%	$16.3M	$63.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.336	+0.032%	$3.2M	$10.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.255	−0.054%	$82K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.310	+0.004%	$17K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.266	−0.042%	$7.3M	$50.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.428	+0.129%	$2.08B	$688.6M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.321	+0.016%	$8.8M	$37.3M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.348	+0.045%	$10.2M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.300	−0.007%	$377.4M	$932.5M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.065	−0.256%	$217K	$12K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.326	+0.021%	$49.4M	$56.2M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.312	+0.006%	$91.3M	$82.0M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.312	+0.006%	$47.0M	$18.6M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.269	−0.039%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.098	−0.221%	$29.2M	$55.2M	—	as long as short
GRVT HYPE_USDT_Perpshort	+0.0100%	4h	94.258	−0.051%	$7.6M	$46.0M	10x
StandX HYPE-USD	+0.0100%	1h	94.227	−0.084%	$681K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.272	−0.036%	$495K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.254	−0.055%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.214	−0.098%	$2.1M	$1.9M	10x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0100%	1h	94.295	−0.012%	$7.4M	$4.3M	50x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.350	+0.047%	$1.4M	$6.8M	75x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.337	+0.033%	—	$243K	5x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.307	+0.002%	$18.3M	$43.4M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.215	−0.096%	$398K	$159K	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0151% / S +0.0021%	1h	94.270	−0.038%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0185%	1h	94.240	−0.070%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0223%	1h	94.281	−0.027%	$20.2M	$30.3M	50x	as long as short
RISEx HYPE/USDC	+0.0249%	1h	94.361	+0.058%	$3.2M	$6.4M	20x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.187	−0.126%	$82K	$123K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.219	−0.092%	$17.0M	$12.4M	75x	as long as short