Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0041%/8h= +4.5% APRpaid last 24h +0.006%

Price spread now: Pacifica against edgeX+0.172%52s7-day average +0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$200.202% of the position

Long on edgeX Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.093%−$9 on $10k

Price spread, last 7 days−0.156%−$16 · spread now +0.172%, 7d avg +0.032%

Together, before fees−0.250%+ Points / potential airdropedgeX: Active · Pacifica: Active · farm board−$25 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Pacifica is 0.141% dearer against edgeX than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of +0.032%. Mind the row above: over the last 7 days funding on this pair cost −0.093%, so the current rate has only just turned in your favour. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX HYPEUSDC	93.458	0.0059	pay 0.0029% / 4h	2h 31m	$5.1M	$30.0M	30x
Short	Pacifica HYPE	93.619	0.0100	get 0.0013% / 1h	31m 56s	$10.1M	$14.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against edgeX. 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 edgeXbpFee PacificabpOrdersPrice spread, now +0.172%Rate

Funding earned: $8.69
Price spread: +0.172% → +0.032%: $14.07
Slippage, 4 orders: −$3.24
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Pacifica: 4 bp × 2 orders: −$8
Net: $2.52
Costs to cover: 0.202%
Break-even: 5.0 days

Slippage from edgeX: live order book, 2 min ago; Pacifica: live order book, 2 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 edgeX live order book, 2 min ago	0.32 bp	4.8 bp −$5	5.1 bp −$51	145.0 bp −$14.5K	doesn't fit
Sell Pacifica live order book, 2 min ago	0.43 bp	5.8 bp −$6	doesn't fit	doesn't fit	doesn't fit

HYPE on 54 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	−0.0888%	1h	93.443	−0.015%	$196K	$231K	7x	as long as short
Arcus HYPE-USD	−0.0786%	1h	93.522	+0.069%	$1.2M	$3.9M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0171%	1h	93.413	−0.048%	$22K	$21K	10x	as long as short
Phemex HYPEUSDT	−0.0117%	8h	93.596	+0.148%	$12.7M	$2.7M	50x	as long as short
Ondo Perps HYPE-USD.P	−0.0093%	1h	93.560	+0.109%	$698K	$988K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.482	+0.026%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0064%	1h	93.662	+0.219%	$86K	$351K	20x	as long as short
Backpack HYPE_USDC_PERP	−0.0059%	1h	93.619	+0.173%	$7.8M	$10.4M	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0057%	4h	93.648	+0.204%	$156K	$652K	20x	as long as short
Gate HYPE_USDT	−0.0056%	4h	93.633	+0.188%	$44.4M	$54.6M	75x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	−0.0024%	4h	93.633	+0.188%	$8.9M	$36.2M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.622	+0.176%	$128K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.612	+0.165%	$22K	$331K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.686	+0.245%	$26K	—	150x	as long as short
BingX HYPE-USDT	+0.0006%	4h	93.635	+0.190%	—	$53.8M	—	as long as short
Bybit HYPEUSDT	+0.0006%	8h	93.640	+0.195%	$321.7M	$284.4M	75x	as long as short
MEXC HYPE_USDT	+0.0054%	4h	93.674	+0.231%	$88.1M	$82.7M	100x	as long as short
Binance HYPEUSDT	+0.0054%	4h	93.676	+0.234%	$381.1M	$904.2M	75x	as long as short
edgeX HYPEUSDClong	+0.0059%	4h	93.458	long leg	$5.1M	$30.0M	30x
Phoenix HYPE	+0.0060%	1h	93.170	−0.308%	$210K	$1.2M	10x	as long as short
Bullet HYPE-USD	+0.0060%	1h	93.676	+0.233%	$112K	$578K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0065%	8h	93.670	+0.227%	$115.2M	$315.4M	50x	as long as short
Derive HYPE-PERP	+0.0079%	1h	93.626	+0.180%	$16.2M	$7.7M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0094%	8h	93.646	+0.201%	$340K	$165K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.647	+0.202%	$16.4M	$62.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.650	+0.206%	$3.1M	$11.9M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.655	+0.211%	$66K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.675	+0.233%	$398K	$177K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.590	+0.142%	$21K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.641	+0.196%	$5.7M	$45.2M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.745	+0.307%	$2.05B	$670.4M	10x	as long as short
Pacifica HYPEshort	+0.0100%	1h	93.619	+0.172%	$10.1M	$14.8M	20x
KuCoin HYPEUSDTM	+0.0100%	4h	93.675	+0.233%	$46.2M	$18.4M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.683	+0.241%	$226.6M	$100.3M	75x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.411	−0.050%	$31.0M	$54.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.516	+0.062%	$7.5M	$48.3M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.468	+0.011%	$338K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.477	+0.021%	$667K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.666	+0.223%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.708	+0.268%	$469K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.649	+0.205%	$79K	$172K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.748	+0.311%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.644	+0.199%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.348	−0.118%	$203K	$10K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.648	+0.203%	$18.4M	$44.5M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0136%	1h	93.740	+0.302%	$4.9M	$5.6M	50x	as long as short
Injective HYPE/USDC PERP	+0.0137%	1h	93.490	+0.035%	$30K	$339K	12x	as long as short
RISEx HYPE/USDC	+0.0210%	1h	93.676	+0.234%	$2.7M	$6.7M	20x	as long as short
HTX HYPE-USDT	+0.0218%	4h	93.815	+0.382%	$1.4M	$5.9M	75x	as long as short
Reya HYPERUSDPERP	+0.0254%	1h	93.667	+0.224%	$80K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0266%	8h	93.514	+0.060%	$1.9M	$5.1M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0335% / S −0.0158%	1h	93.691	+0.250%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0519%	1h	93.752	+0.315%	$7.5M	$4.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0680%	1h	93.731	+0.292%	$20.9M	$30.1M	50x	as long as short