Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.063%

Price spread now: Arcus against Bulk−0.071%7-day average −0.068% · 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−$15as in the Price arb table

costs, in and out, $10k−$150.150% of the position

Long on Bulk Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.072%−$7 on $10k

Price spread, last 4 days (all we have)−0.030%−$3 · spread now −0.071%, 7d avg −0.068%

Together, before fees−0.103%−$10 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk HYPE-USD	93.386	0.0100	pay 0.0013% / 1h	57m 53s	$204K	$12K	10x
Short	Arcus HYPE-USD	93.320	0.0100	get 0.0013% / 1h	57m 53s	$1.2M	$4.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Bulk. 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 BulkbpFee ArcusbpOrdersPrice spread, now −0.071%Rate

Funding earned: $0
Price spread: −0.071% → −0.068%: −$0.29
Slippage, 4 orders: −$3.49
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$15.28
Costs to cover: 0.150%
Break-even: never at this rate

Slippage from Bulk: live order book, 31 min ago; Arcus: 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 Bulk live order book, 31 min ago	0.53 bp	4.0 bp −$4	6.7 bp −$67	14.0 bp −$1,405	44.7 bp −$22.4K
Sell Arcus live order book, 1 min ago	0.05 bp	4.2 bp −$4	11.2 bp −$112	30.5 bp −$3,048	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	−0.1368%	1h	93.352	−0.037%	$197K	$240K	7x	as long as short
Ondo Perps HYPE-USD.P	−0.0154%	1h	93.290	−0.103%	$700K	$952K	10x	as long as short
01 Exchange HYPEUSD	−0.0104%	1h	93.310	−0.082%	$89K	$342K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.371	−0.016%	$3K	$331	25x	as long as short
Aftermath Perps HYPEUSD	−0.0068%	1h	93.398	+0.013%	$22K	$22K	10x	as long as short
Popdex HYPEUSDT	−0.0008%	1h	93.301	−0.091%	$56K	$1.2M	50x	as long as short
Bullet HYPE-USD	−0.0006%	1h	93.292	−0.101%	$112K	$583K	20x	as long as short
Gate HYPE_USDT	−0.0006%	4h	93.282	−0.112%	$44.1M	$56.1M	75x	as long as short
SoDEX HYPE-USD	−0.0003%	1h	93.247	−0.149%	$2.0M	$2.0M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.425	+0.042%	$127K	$33K	5x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXHYPEPERP	0.0000%	8h	93.452	+0.070%	$1.9M	$5.4M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.356	−0.032%	$24K	$343K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.311	−0.081%	$20K	—	150x	as long as short
Aster HYPEUSDT	+0.0008%	4h	93.275	−0.119%	$8.9M	$36.6M	300x	as long as short
Bybit HYPEUSDT	+0.0041%	8h	93.256	−0.139%	$325.1M	$289.5M	75x	as long as short
Bluefin HYPE-PERP	+0.0057%	1h	93.273	−0.121%	$76K	$168K	20x	as long as short
Derive HYPE-PERP	+0.0058%	1h	93.225	−0.173%	$16.4M	$7.1M	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0078%	4h	93.298	−0.094%	$180K	$537K	20x	as long as short
Phoenix HYPE	+0.0094%	1h	93.444	+0.062%	$216K	$1.1M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.315	−0.076%	$18.6M	$58.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.281	−0.113%	$3.1M	$12.3M	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.360	−0.028%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.332	−0.059%	$6.0M	$44.6M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.343	−0.046%	$2.03B	$673.9M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.360	−0.028%	$10.0M	$14.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.277	−0.117%	$386.1M	$893.6M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.271	−0.123%	$114.6M	$317.4M	50x	as long as short
Arcus HYPE-USDshort	+0.0100%	1h	93.320	−0.071%	$1.2M	$4.0M	10x
Bulk HYPE-USDlong	+0.0100%	1h	93.386	long leg	$204K	$12K	10x
MEXC HYPE_USDT	+0.0100%	4h	93.276	−0.118%	$92.3M	$81.3M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.269	−0.125%	$46.2M	$19.6M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.293	−0.100%	$226.7M	$103.1M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.270	−0.124%	—	$54.5M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.286	−0.107%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.466	+0.086%	$28.9M	$50.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.411	+0.027%	$7.5M	$46.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.411	+0.027%	$406K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.419	+0.035%	$675K	$2.4M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.365	−0.023%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.330	−0.060%	$503K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.337	−0.053%	$32K	$1.6M	20x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.290	−0.103%	$12.7M	$2.6M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0101%	8h	93.361	−0.027%	$339K	$171K	20x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.269	−0.126%	$18.4M	$41.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.282	−0.111%	$397K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0113%	4h	93.404	+0.019%	$5.1M	$29.5M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.380	−0.007%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0244%	1h	93.293	−0.099%	$77K	$157K	15x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.340	−0.049%	$30K	$231K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0286%	1h	93.359	−0.029%	$7.4M	$4.6M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0165%	1h	93.317	−0.074%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.363	−0.025%	$17.2M	$12.7M	75x	as long as short
HTX HYPE-USDT	+0.0441%	4h	93.450	+0.068%	$1.5M	$7.6M	75x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.370	−0.017%	$2.7M	$6.9M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0574%	1h	93.388	+0.001%	$18.7M	$24.8M	50x	as long as short