Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0160%/8h= +17.6% APRpaid last 24h +0.001%

Price spread now: KuCoin against Bluefin+0.001%7-day average +0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$550.547% of the position

Long on Bluefin Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.132%+$13 on $10k

Price spread, last 4 days (all we have)+0.053%+$5 · spread now +0.001%, 7d avg +0.003%

Together, before fees+0.185%+$19 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.003%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bluefin HYPE-PERP	95.195	−0.0060	get 0.0008% / 1h	28m 05s	$79K	$134K	20x
Short	KuCoin HYPEUSDTM	95.196	0.0100	get 0.0050% / 4h	1h 28m	$47.6M	$17.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Bluefin. 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 BluefinbpFee KuCoinbpOrdersPrice spread, now +0.001%Rate

Funding earned: $33.69
Price spread: +0.001% → +0.003%: −$0.2
Slippage, 4 orders: −$35.74
Fee Bluefin: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$21.25
Costs to cover: 0.547%
Break-even: 11.4 days

Slippage from Bluefin: live order book, 19 min ago; KuCoin: live order book, 4 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 Bluefin live order book, 19 min ago	3.58 bp	15.9 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	0.42 bp	11.5 bp −$11	16.5 bp −$165	doesn't fit	doesn't fit

HYPE on 54 exchanges

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
Phemex HYPEUSDT	−0.0271%	8h	95.157	−0.040%	$13.0M	$2.3M	50x	as long as short
Kraken Futures PF_HYPEUSD	−0.0251%	1h	95.224	+0.030%	$18.5M	$35.0M	50x	as long as short
Aftermath Perps HYPEUSD	−0.0192%	1h	95.189	−0.006%	$22K	$17K	10x	as long as short
Hibachi HYPE/USDT-P	−0.0144%	1h	95.345	+0.158%	$218K	$275K	7x	as long as short
Ondo Perps HYPE-USD.P	−0.0139%	1h	95.150	−0.047%	$687K	$1.3M	10x	as long as short
Arcus HYPE-USD	−0.0130%	1h	95.205	+0.011%	$1.0M	$2.4M	10x	as long as short
01 Exchange HYPEUSD	−0.0112%	1h	95.199	+0.004%	$102K	$344K	20x	as long as short
Bullet HYPE-USD	−0.0086%	1h	95.182	−0.014%	$113K	$580K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	95.197	+0.002%	$3K	$331	25x	as long as short
Gate HYPE_USDT	−0.0078%	4h	95.180	−0.016%	$55.3M	$53.6M	75x	as long as short

Show all 54 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bluefin HYPE-PERPlong	−0.0060%	1h	95.195	long leg	$79K	$134K	20x
Aster HYPEUSDT	−0.0060%	4h	95.184	−0.012%	$9.0M	$32.7M	300x	as long as short
Coinbase International HYPE-PERP-INTX	−0.0056%	1h	95.220	+0.026%	$4.7M	$5.5M	50x	as long as short
Orderly PERP_HYPE_USDC	−0.0056%	4h	95.176	−0.020%	$148K	$642K	20x	as long as short
Lighter HYPE	−0.0040%	1h	95.212	+0.018%	$16.5M	$58.1M	20x	as long as short
OKX HYPE-USDT-SWAP	−0.0023%	8h	95.171	−0.025%	$119.0M	$303.6M	50x	as long as short
ApeX Omni HYPEUSDT	−0.0017%	1h	95.150	−0.047%	$342K	$901K	50x	as long as short
Phoenix HYPE	−0.0008%	1h	95.062	−0.140%	$202K	$1.1M	10x	as long as short
Bitget HYPEUSDT	−0.0004%	4h	95.183	−0.013%	$228.8M	$85.7M	75x	as long as short
Perpl HYPE	0.0000%	43m	95.245	+0.052%	$24K	$250K	10x	as long as short
Deribit HYPE_USDC-PERPETUAL	0.0000%	1h	95.275	+0.084%	$7.5M	$4.3M	50x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	95.220	+0.026%	$114K	—	150x	as long as short
Popdex HYPEUSDT	+0.0016%	1h	95.206	+0.012%	$275K	$1.0M	50x	as long as short
Bybit HYPEUSDT	+0.0024%	8h	95.200	+0.005%	$321.8M	$263.6M	75x	as long as short
dYdX HYPE-USD	+0.0036%	1h	95.223	+0.030%	$128K	$94K	5x	as long as short
edgeX HYPEUSDC	+0.0048%	4h	95.101	−0.099%	$5.1M	$28.8M	30x	as long as short
MEXC HYPE_USDT	+0.0056%	4h	95.216	+0.022%	$90.1M	$84.0M	100x	as long as short
BingX HYPE-USDT	+0.0058%	4h	95.186	−0.009%	—	$48.9M	—	as long as short
Binance HYPEUSDT	+0.0058%	4h	95.184	−0.011%	$382.8M	$849.8M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0084%	8h	95.208	+0.014%	$340K	$30K	20x	as long as short
StandX HYPE-USD	+0.0090%	1h	95.176	−0.020%	$692K	$2.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	95.216	+0.022%	$3.4M	$10.1M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	95.204	+0.010%	$402K	$125K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	95.220	+0.026%	$40K	$1.5M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	95.175	−0.021%	$7.3M	$50.9M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	95.244	+0.051%	$10.3M	$13.1M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	95.174	−0.022%	$230K	$17K	10x	as long as short
KuCoin HYPEUSDTMshort	+0.0100%	4h	95.196	+0.001%	$47.6M	$17.7M	75x
Backpack HYPE_USDC_PERP	+0.0100%	1h	95.149	−0.048%	$7.0M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	95.093	−0.108%	$29.6M	$52.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	95.129	−0.069%	$7.7M	$40.5M	10x	as long as short
Vest HYPE-PERP	+0.0100%	1h	95.254	+0.062%	—	$80K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	95.219	+0.025%	$504K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	95.246	+0.054%	$33K	$1.4M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	95.207	+0.013%	$2.1M	$334K	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.298	+0.108%	$1.4M	$5.2M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	95.174	−0.022%	$18.3M	$39.1M	50x	as long as short
Kalshi KXHYPEPERP	+0.0128%	8h	95.279	+0.088%	$1.8M	$5.1M	2.3x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	95.254	+0.062%	$3.1M	$5.2M	20x	as long as short
Hyperliquid HYPE	+0.0200%	1h	95.300	+0.110%	$2.11B	$646.1M	10x	as long as short
BloFin HYPE-USDT	+0.0230%	4h	95.206	+0.012%	$17.4M	$11.4M	75x	as long as short
Reya HYPERUSDPERP	+0.0269%	1h	95.141	−0.056%	$85K	$90K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0155%	1h	95.255	+0.063%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0969%	1h	95.500	+0.320%	$31K	$334K	12x	as long as short