Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0042%/8h= −4.6% APRpaid last 24h −0.032%

Price spread now: Gate against Extended+0.031%7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$260.262% of the position

Long on Extended Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.107%−$11 on $10k

Price spread, last 7 days−0.041%−$4 · spread now +0.031%, 7d avg +0.014%

Together, before fees−0.147%+ Points / potential airdropExtended: Active · farm board−$15 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.014%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended HYPE-USD	93.757	0.0104	pay 0.0013% / 1h	59m 43s	$18.3M	$41.6M	50x
Short	Gate HYPE_USDT	93.786	0.0062	get 0.0031% / 4h	59m 43s	$44.3M	$59.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Extended. 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 ExtendedbpFee GatebpOrdersPrice spread, now +0.031%Rate

Funding earned: −$8.82
Price spread: +0.031% → +0.014%: $1.72
Slippage, 4 orders: −$6.16
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$33.26
Costs to cover: 0.262%
Break-even: never at this rate

Slippage from Extended: live order book, 4 min ago; Gate: 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 Extended live order book, 4 min ago	0.05 bp	2.7 bp −$3	5.4 bp −$54	24.4 bp −$2,436	doesn't fit
Sell Gate live order book, 4 min ago	0.05 bp	9.1 bp −$9	14.0 bp −$140	27.3 bp −$2,728	48.6 bp −$24.3K

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
Aftermath Perps HYPEUSD	−0.0489%	1h	93.506	−0.267%	$22K	$22K	10x	as long as short
Hibachi HYPE/USDT-P	−0.0464%	1h	93.565	−0.205%	$198K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0131%	1h	93.619	−0.147%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0130%	1h	93.490	−0.285%	$701K	$897K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.683	−0.079%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0016%	1h	93.734	−0.025%	$91K	$356K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.721	−0.038%	$128K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.747	−0.010%	$23K	$330K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.764	+0.008%	$28K	—	150x	as long as short
Popdex HYPEUSDT	+0.0008%	1h	93.703	−0.058%	$62K	$1.2M	50x	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	+0.0015%	4h	93.791	+0.036%	$177K	$524K	20x	as long as short
Bybit HYPEUSDT	+0.0019%	8h	93.741	−0.017%	$324.3M	$280.9M	75x	as long as short
Aster HYPEUSDT	+0.0020%	4h	93.771	+0.015%	$8.9M	$35.7M	300x	as long as short
Phoenix HYPE	+0.0034%	1h	93.456	−0.321%	$214K	$1.2M	10x	as long as short
Derive HYPE-PERP	+0.0061%	1h	93.713	−0.046%	$16.3M	$6.9M	10x	as long as short
Gate HYPE_USDTshort	+0.0062%	4h	93.786	+0.031%	$44.3M	$59.1M	75x
Binance HYPEUSDT	+0.0064%	4h	93.779	+0.024%	$385.0M	$885.1M	75x	as long as short
MEXC HYPE_USDT	+0.0064%	4h	93.780	+0.025%	$90.8M	$82.5M	100x	as long as short
Bullet HYPE-USD	+0.0067%	1h	93.738	−0.020%	$112K	$577K	20x	as long as short
edgeX HYPEUSDC	+0.0071%	4h	93.562	−0.208%	$5.1M	$29.7M	30x	as long as short
Phemex HYPEUSDT	+0.0083%	8h	93.708	−0.052%	$12.8M	$2.6M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.841	+0.090%	$18.7M	$58.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.787	+0.032%	$3.0M	$12.1M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.750	−0.007%	$399K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.686	−0.076%	$340K	$169K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.700	−0.061%	$29K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.653	−0.110%	$5.9M	$44.0M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.711	−0.049%	$10.1M	$14.5M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.792	+0.037%	$114.6M	$313.5M	50x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.792	+0.037%	$47.2M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.800	+0.046%	$227.5M	$102.3M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.774	+0.018%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.805	+0.051%	$7.9M	$10.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.552	−0.218%	$30.9M	$51.8M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.460	−0.317%	$7.5M	$45.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.565	−0.205%	$416K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.557	−0.213%	$677K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.714	−0.046%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.744	−0.014%	$496K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.778	+0.022%	$76K	$166K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.794	+0.039%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.765	+0.009%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.680	−0.082%	$205K	$7K	10x	as long as short
Extended HYPE-USDlong	+0.0104%	1h	93.757	long leg	$18.3M	$41.6M	50x
Kalshi KXHYPEPERP	+0.0118%	8h	93.809	+0.055%	$1.9M	$5.1M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.830	+0.078%	$4.9M	$5.7M	50x	as long as short
HTX HYPE-USDT	+0.0219%	4h	93.947	+0.203%	$1.5M	$7.7M	75x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	93.770	+0.014%	$30K	$338K	12x	as long as short
Reya HYPERUSDPERP	+0.0248%	1h	93.716	−0.044%	$77K	$155K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0251%	1h	93.859	+0.109%	$7.4M	$4.5M	50x	as long as short
BloFin HYPE-USDT	+0.0259%	4h	93.600	−0.167%	$16.9M	$12.3M	75x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.761	+0.004%	$2.8M	$6.8M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0340% / S −0.0165%	1h	93.753	−0.004%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0463%	1h	93.889	+0.140%	$21.0M	$28.9M	50x	as long as short
Hyperliquid HYPE	+0.0556%	1h	93.824	+0.071%	$2.04B	$666.2M	10x	as long as short