Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0072%/8h= +7.9% APRpaid last 24h +0.021%

Price spread now: Pacifica against Bybit+0.139%7-day average +0.017% · you sell dearer than you buy

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

Long on Bybit Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.029%−$3 on $10k

Price spread, last 7 days−0.133%−$13 · spread now +0.139%, 7d avg +0.017%

Together, before fees−0.163%+ Points / potential airdropPacifica: Active · farm board−$16 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Pacifica is 0.122% dearer against Bybit than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of +0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit HYPEUSDT	93.011	0.0028	pay 0.0028% / 8h	6h 54m	$319.1M	$281.2M	75x
Short	Pacifica HYPE	93.141	0.0100	get 0.0013% / 1h	54m 26s	$10.0M	$14.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Bybit. 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 BybitbpFee PacificabpOrdersPrice spread, now +0.139%Rate

Funding earned: $15.16
Price spread: +0.139% → +0.017%: $12.23
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Pacifica: 4 bp × 2 orders: −$8
Net: $8.39
Costs to cover: 0.190%
Break-even: 3.1 days

Slippage unknown: Bybit: live order book, 5 min ago; Pacifica: live order book, 5 min ago. 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 Bybit live order book, 5 min ago	0.54 bp	6.0 bp −$6	7.8 bp −$78	15.7 bp −$1,569	58.0 bp −$29.0K
Sell Pacifica live order book, 5 min ago	0.32 bp	doesn't fit	doesn't fit	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	−0.1080%	1h	93.025	+0.015%	$196K	$229K	7x	as long as short
Arcus HYPE-USD	−0.0786%	1h	92.955	−0.060%	$1.2M	$3.9M	10x	as long as short
ApeX Omni HYPEUSDT	−0.0434%	1h	93.179	+0.181%	$337K	$1.1M	50x	as long as short
Backpack HYPE_USDC_PERP	−0.0222%	1h	93.049	+0.041%	$7.8M	$10.6M	20x	as long as short
Aftermath Perps HYPEUSD	−0.0185%	1h	93.379	+0.396%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0096%	1h	93.022	+0.012%	$84K	$360K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0086%	1h	93.040	+0.031%	$702K	$963K	10x	as long as short
Gate HYPE_USDT	−0.0082%	4h	93.074	+0.068%	$44.0M	$53.5M	75x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.065	+0.058%	$3K	$331	25x	as long as short
Bluefin HYPE-PERP	−0.0058%	1h	93.034	+0.025%	$79K	$173K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_HYPE_USDC	−0.0045%	4h	93.018	+0.008%	$158K	$648K	20x	as long as short
Aster HYPEUSDT	−0.0036%	4h	93.047	+0.039%	$8.9M	$36.2M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.099	+0.094%	$128K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.098	+0.094%	$23K	$330K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.080	+0.074%	$25K	—	150x	as long as short
BingX HYPE-USDT	+0.0016%	4h	93.079	+0.073%	—	$54.1M	—	as long as short
Bybit HYPEUSDTlong	+0.0028%	8h	93.011	long leg	$319.1M	$281.2M	75x
Derive HYPE-PERP	+0.0029%	1h	93.024	+0.014%	$16.2M	$7.6M	10x	as long as short
Phoenix HYPE	+0.0034%	1h	93.318	+0.330%	$212K	$1.2M	10x	as long as short
Binance HYPEUSDT	+0.0035%	4h	93.061	+0.053%	$378.4M	$901.8M	75x	as long as short
MEXC HYPE_USDT	+0.0036%	4h	93.107	+0.103%	$85.8M	$81.4M	100x	as long as short
Bullet HYPE-USD	+0.0040%	1h	93.057	+0.049%	$112K	$579K	20x	as long as short
edgeX HYPEUSDC	+0.0059%	4h	93.202	+0.205%	$5.0M	$29.7M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0066%	8h	93.072	+0.066%	$114.9M	$313.6M	50x	as long as short
Aevo HYPE-PERP	+0.0088%	1h	93.073	+0.067%	$396K	$177K	20x	as long as short
Phemex HYPEUSDT	+0.0092%	8h	93.146	+0.145%	$12.6M	$2.7M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.150	+0.149%	$18.6M	$58.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.131	+0.129%	$3.0M	$11.6M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.022	+0.012%	$64K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0098%	8h	93.150	+0.150%	$338K	$165K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.020	+0.010%	$37K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.048	+0.040%	$6.5M	$44.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.113	+0.110%	$2.03B	$668.9M	10x	as long as short
Pacifica HYPEshort	+0.0100%	1h	93.141	+0.139%	$10.0M	$14.7M	20x
KuCoin HYPEUSDTM	+0.0100%	4h	93.108	+0.104%	$45.8M	$18.4M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.059	+0.052%	$225.2M	$100.7M	75x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.991	−0.022%	$30.4M	$54.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.196	+0.199%	$7.5M	$46.3M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.076	+0.070%	$664K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.113	+0.109%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.090	+0.085%	$473K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.110	+0.106%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.087	+0.082%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.250	+0.257%	$203K	$10K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.053	+0.045%	$18.3M	$44.5M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0136%	1h	93.090	+0.085%	$4.9M	$5.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0137%	1h	92.930	−0.087%	$30K	$338K	12x	as long as short
BloFin HYPE-USDT	+0.0145%	4h	93.121	+0.118%	$17.0M	$12.1M	75x	as long as short
RISEx HYPE/USDC	+0.0210%	1h	93.079	+0.074%	$2.7M	$6.7M	20x	as long as short
Kalshi KXHYPEPERP	+0.0252%	8h	93.071	+0.065%	$1.9M	$5.2M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0253%	1h	93.067	+0.060%	$79K	$142K	15x	as long as short
HTX HYPE-USDT	+0.0313%	4h	93.271	+0.280%	$1.5M	$6.1M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0334% / S −0.0158%	1h	93.065	+0.058%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0620%	1h	93.192	+0.195%	$7.4M	$4.7M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0684%	1h	93.172	+0.173%	$20.8M	$29.9M	50x	as long as short