Settings8H · net · $10k
FundingCostsSizeExchangesMy alerts
Funding arb · Price arb /

HYPE

all HYPE markets
SwapBacktest
Alert: funding
Measured
My alerts

Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
My alerts

Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.011%
Price spread now: KuCoin against Backpack−0.004%7-day average −0.234% · you buy dearer than you sell
Net, funding: paid 7d − costs−$37as in the Funding arb table
Net, price: spread back to 7d avg − costs−$7as in the Price arb table
costs, in and out, $10k−$300.304% of the position
Long on BackpackShort on KuCoin
What this pair did over the last
the charts below follow
Funding, last 7 days−0.061%−$6 on $10k
Price spread, last 7 days+0.465%+$46 · spread now −0.004%, 7d avg −0.234%
Together, before fees+0.404%+$40 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 0.230% dearer against Backpack than usual: you sell high and buy low, +$23 on $10k if it goes back to its 7-day average of −0.234%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBackpack HYPE_USDC_PERP93.4150.0100pay 0.0013% / 1h44m 15s$7.9M$11.7M20x
ShortKuCoin HYPEUSDTM93.4110.0100get 0.0050% / 4h2h 44m$46.3M$19.3M75x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

KuCoin against Backpack. 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

Funding earned
$0
Price spread: −0.004% → −0.234%
$23
Slippage, 4 orders
−$8.43
Fee Backpack: 5 bp × 2 orders
−$10
Fee KuCoin: 6 bp × 2 orders
−$12
Net
−$7.44
Costs to cover
0.304%
Break-even
never at this rate
Slippage from Backpack: live order book, 5 min ago; KuCoin: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Backpack live order book, 5 min ago0.05 bp5.8 bp −$67.6 bp −$76129.8 bp −$13.0Kdoesn't fit
Sell KuCoin live order book, 5 min ago0.91 bp10.5 bp −$1013.9 bp −$139doesn't fitdoesn't fit

HYPE on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-P−0.1240%1h93.370−0.048%$197K$233K7xas long as short
Ondo Perps HYPE-USD.P−0.0218%1h93.330−0.091%$701K$943K10xas long as short
Aftermath Perps HYPEUSD−0.0193%1h93.399−0.017%$22K$22K10xas long as short
01 Exchange HYPEUSD−0.0080%1h93.4150.000%$89K$346K20xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.388−0.029%$3K$33125xas long as short
dYdX HYPE-USD0.0000%1h93.427+0.013%$127K$33K5xas long as short
Kalshi KXHYPEPERP0.0000%8h93.484+0.074%$1.9M$5.4M2.3xas long as short
Perpl HYPE0.0000%43m93.394−0.022%$23K$343K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0001%1h93.430+0.016%$19K—150xas long as short
Aster HYPEUSDT+0.0013%4h93.390−0.027%$8.9M$36.0M300xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Gate HYPE_USDT+0.0016%4h93.389−0.028%$44.2M$56.3M75xas long as short
Derive HYPE-PERP+0.0017%1h93.355−0.064%$16.4M$7.1M10xas long as short
Bullet HYPE-USD+0.0030%1h93.411−0.005%$112K$583K20xas long as short
Bybit HYPEUSDT+0.0039%8h93.390−0.027%$325.3M$287.9M75xas long as short
Phoenix HYPE+0.0068%1h93.408−0.007%$216K$1.2M10xas long as short
Orderly PERP_HYPE_USDC+0.0074%4h93.412−0.003%$180K$536K20xas long as short
Lighter HYPE+0.0096%1h93.460+0.049%$18.5M$59.4M20xas long as short
Lighter RH HYPE+0.0096%1h93.430+0.016%$3.1M$12.3M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.390−0.027%$56K$1.2M50xas long as short
Katana Perps HYPE-USD+0.0100%8h93.520+0.112%$40K$1.7M10xas long as short
Nado HYPE-PERP+0.0100%1h93.397−0.019%$6.0M$44.3M10xas long as short
Hyperliquid HYPE+0.0100%1h93.469+0.058%$2.04B$669.3M10xas long as short
Pacifica HYPE+0.0100%1h93.391−0.026%$10.0M$14.5M20xas long as short
Binance HYPEUSDT+0.0100%4h93.395−0.021%$385.7M$888.3M75xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.391−0.026%$114.8M$315.5M50xas long as short
Arcus HYPE-USD+0.0100%1h93.374−0.044%$1.2M$4.0M10xas long as short
Bulk HYPE-USD+0.0100%1h93.335−0.085%$204K$12K10xas long as short
MEXC HYPE_USDT+0.0100%4h93.397−0.019%$93.0M$81.9M100xas long as short
KuCoin HYPEUSDTMshort+0.0100%4h93.411−0.004%$46.3M$19.3M75x
Bitget HYPEUSDT+0.0100%4h93.413−0.002%$226.9M$102.0M75xas long as short
BingX HYPE-USDT+0.0100%4h93.392−0.025%—$54.3M—as long as short
Backpack HYPE_USDC_PERPlong+0.0100%1h93.415long leg$7.9M$11.7M20x
Variational Omni HYPE+0.0100%8h93.375−0.042%$28.8M$49.9M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.445+0.032%$7.5M$45.8M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.456+0.044%$406K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.481+0.071%$676K$2.4M20xas long as short
Vest HYPE-PERP+0.0100%1h93.440+0.026%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.423+0.009%$493K$2.6M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.402−0.014%$76K$169K20xas long as short
SunX HYPE-USDT+0.0100%4h93.439+0.026%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.389−0.028%$2.0M$2.0M10xas long as short
Phemex HYPEUSDT+0.0100%8h93.407−0.009%$12.7M$2.6M50xas long as short
Paradex HYPE-USD-PERP+0.0100%8h93.411−0.004%$339K$171K20xas long as short
Extended HYPE-USD+0.0104%1h93.378−0.040%$18.4M$41.1M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.405−0.010%$397K$318K20xas long as short
edgeX HYPEUSDC+0.0107%4h93.435+0.021%$5.1M$29.5M30xas long as short
Coinbase International HYPE-PERP-INTX+0.0208%1h93.500+0.091%$4.9M$5.7M50xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0232%1h93.499+0.090%$7.4M$4.6M50xas long as short
Reya HYPERUSDPERP+0.0245%1h93.400−0.016%$77K$157K15xas long as short
Injective HYPE/USDC PERP+0.0285%1h93.330−0.091%$30K$231K12xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0339% / S −0.0165%1h93.443+0.030%$1.4M—100xas long as short
BloFin HYPE-USDT+0.0340%4h93.405−0.011%$17.1M$12.5M75xas long as short
HTX HYPE-USDT+0.0373%4h93.536+0.130%$1.5M$7.6M75xas long as short
RISEx HYPE/USDC+0.0467%1h93.462+0.050%$2.7M$6.8M20xas long as short
Kraken Futures PF_HYPEUSD+0.0573%1h93.491+0.082%$19.2M$25.9M50xas long as short