Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0099%/8h= −10.9% APRpaid last 24h −0.015%

Price spread now: gTrade (Gains Network) against Bitget−0.004%7-day average — · you buy dearer than you sell

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

Long on Bitget Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget HYPEUSDT	93.424	0.0100	pay 0.0050% / 4h	2h 48m	$226.9M	$102.1M	75x
Short	gTrade (Gains Network) HYPE/USD	93.420	L +0.0002% / S −0.0001%	get 0.0000% / 1h	48m 59s	$19K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Bitget. 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 BitgetbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.004%Rate

Funding earned: −$20.84
Price spread: −0.004% → 0.000%: −$0.43
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$43.27
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 5 min ago; gTrade (Gains Network): no order-book sample. 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 Bitget live order book, 5 min ago	0.05 bp	6.9 bp −$7	11.6 bp −$116	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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	−0.1280%	1h	93.248	−0.188%	$197K	$233K	7x	as long as short
Ondo Perps HYPE-USD.P	−0.0186%	1h	93.210	−0.229%	$700K	$943K	10x	as long as short
Aftermath Perps HYPEUSD	−0.0146%	1h	93.371	−0.057%	$22K	$22K	10x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	93.419	−0.005%	$89K	$344K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.380	−0.047%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0025%	1h	93.376	−0.052%	$113K	$583K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.407	−0.018%	$127K	$33K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.497	+0.078%	$1.9M	$5.4M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.441	+0.018%	$23K	$343K	10x	as long as short
gTrade (Gains Network) HYPE/USDshort	L +0.0002% / S −0.0001%	1h	93.420	−0.004%	$19K	—	150x

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0010%	4h	93.415	−0.010%	$8.9M	$36.3M	300x	as long as short
Derive HYPE-PERP	+0.0017%	1h	93.339	−0.091%	$16.4M	$7.1M	10x	as long as short
Gate HYPE_USDT	+0.0018%	4h	93.446	+0.024%	$44.2M	$56.2M	75x	as long as short
Bybit HYPEUSDT	+0.0041%	8h	93.430	+0.006%	$325.8M	$288.3M	75x	as long as short
Phoenix HYPE	+0.0068%	1h	93.408	−0.017%	$216K	$1.2M	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0076%	4h	93.408	−0.017%	$180K	$536K	20x	as long as short
ApeX Omni HYPEUSDT	+0.0092%	1h	93.318	−0.113%	$405K	$1.1M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.440	+0.017%	$18.5M	$59.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.413	−0.012%	$3.1M	$12.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.399	−0.027%	$56K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.420	−0.004%	$40K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.398	−0.027%	$6.0M	$44.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.444	+0.021%	$2.03B	$668.9M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.432	+0.008%	$10.0M	$14.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.445	+0.022%	$385.9M	$890.3M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.439	+0.016%	$114.8M	$316.6M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.383	−0.044%	$1.2M	$4.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.335	−0.095%	$204K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.440	+0.017%	$92.8M	$81.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.440	+0.017%	$46.3M	$19.4M	75x	as long as short
Bitget HYPEUSDTlong	+0.0100%	4h	93.424	long leg	$226.9M	$102.1M	75x
BingX HYPE-USDT	+0.0100%	4h	93.439	+0.016%	—	$54.5M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.418	−0.006%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.295	−0.138%	$28.8M	$49.8M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.336	−0.094%	$7.5M	$46.2M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.344	−0.086%	$675K	$2.4M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.438	+0.015%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.428	+0.004%	$493K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.391	−0.035%	$76K	$169K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.424	0.000%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.378	−0.049%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.381	−0.046%	$12.7M	$2.6M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0100%	8h	93.427	+0.003%	$339K	$171K	20x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.416	−0.009%	$18.4M	$41.0M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.400	−0.026%	$397K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0113%	4h	93.276	−0.158%	$5.1M	$29.5M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.460	+0.039%	$4.9M	$5.7M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0242%	1h	93.484	+0.064%	$7.4M	$4.6M	50x	as long as short
Reya HYPERUSDPERP	+0.0245%	1h	93.392	−0.034%	$77K	$157K	15x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.290	−0.143%	$30K	$231K	12x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0165%	1h	93.425	+0.001%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.376	−0.051%	$17.1M	$12.5M	75x	as long as short
HTX HYPE-USDT	+0.0398%	4h	93.581	+0.168%	$1.5M	$7.6M	75x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.466	+0.045%	$2.7M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0574%	1h	93.479	+0.059%	$19.2M	$25.9M	50x	as long as short