Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.009%

Price spread now: KuCoin against Extended+0.033%7-day average +0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$250.252% of the position

Long on Extended Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.023%−$2 on $10k

Price spread, last 7 days−0.035%−$4 · spread now +0.033%, 7d avg +0.031%

Together, before fees−0.058%+ Points / potential airdropExtended: Active · farm board−$6 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended HYPE-USD	95.023	0.0104	pay 0.0013% / 1h	30m 55s	$18.3M	$39.1M	50x
Short	KuCoin HYPEUSDTM	95.054	0.0100	get 0.0050% / 4h	1h 30m	$47.6M	$17.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.033%Rate

Funding earned: −$0.84
Price spread: +0.033% → +0.031%: $0.12
Slippage, 4 orders: −$8.16
Fee Extended: 2.5 bp × 2 orders: −$5
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$25.88
Costs to cover: 0.252%
Break-even: never at this rate

Slippage from Extended: live order book, 1 min ago; KuCoin: live order book, 11 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, 1 min ago	0.05 bp	3.7 bp −$4	7.6 bp −$76	29.3 bp −$2,933	doesn't fit
Sell KuCoin live order book, 11 min ago	0.37 bp	10.5 bp −$11	14.7 bp −$147	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
Hibachi HYPE/USDT-P	−0.0320%	1h	95.177	+0.162%	$218K	$274K	7x	as long as short
Phemex HYPEUSDT	−0.0258%	8h	95.033	+0.010%	$13.0M	$2.3M	50x	as long as short
Kraken Futures PF_HYPEUSD	−0.0251%	1h	95.093	+0.074%	$18.5M	$34.9M	50x	as long as short
Aftermath Perps HYPEUSD	−0.0198%	1h	95.172	+0.156%	$22K	$17K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0139%	1h	95.110	+0.091%	$687K	$1.3M	10x	as long as short
Arcus HYPE-USD	−0.0130%	1h	95.105	+0.086%	$1.0M	$2.4M	10x	as long as short
01 Exchange HYPEUSD	−0.0112%	1h	95.121	+0.103%	$98K	$340K	20x	as long as short
Gate HYPE_USDT	−0.0084%	4h	95.072	+0.051%	$55.1M	$53.6M	75x	as long as short
ApeX Omni HYPEUSDT	−0.0082%	1h	95.192	+0.178%	$343K	$901K	50x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	95.162	+0.146%	$3K	$331	25x	as long as short

Show all 54 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bluefin HYPE-PERP	−0.0074%	1h	95.102	+0.083%	$79K	$133K	20x	as long as short
Lighter HYPE	−0.0072%	1h	95.075	+0.055%	$16.4M	$58.0M	20x	as long as short
Bullet HYPE-USD	−0.0068%	1h	95.109	+0.090%	$113K	$580K	20x	as long as short
Aster HYPEUSDT	−0.0062%	4h	95.085	+0.065%	$9.0M	$32.7M	300x	as long as short
Coinbase International HYPE-PERP-INTX	−0.0056%	1h	95.130	+0.113%	$4.7M	$5.5M	50x	as long as short
Orderly PERP_HYPE_USDC	−0.0053%	4h	95.091	+0.071%	$148K	$642K	20x	as long as short
OKX HYPE-USDT-SWAP	−0.0021%	8h	95.075	+0.055%	$118.8M	$303.4M	50x	as long as short
Phoenix HYPE	−0.0008%	1h	95.062	+0.041%	$199K	$1.1M	10x	as long as short
Perpl HYPE	0.0000%	43m	95.116	+0.098%	$24K	$251K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	95.169	+0.153%	$114K	—	150x	as long as short
Bitget HYPEUSDT	+0.0002%	4h	95.084	+0.064%	$228.6M	$85.6M	75x	as long as short
Popdex HYPEUSDT	+0.0008%	1h	95.117	+0.099%	$277K	$1.0M	50x	as long as short
Bybit HYPEUSDT	+0.0021%	8h	95.100	+0.081%	$320.6M	$262.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0034%	1h	95.196	+0.182%	$7.5M	$4.3M	50x	as long as short
dYdX HYPE-USD	+0.0041%	1h	95.064	+0.043%	$128K	$94K	5x	as long as short
edgeX HYPEUSDC	+0.0054%	4h	95.040	+0.018%	$5.1M	$28.8M	30x	as long as short
MEXC HYPE_USDT	+0.0056%	4h	95.063	+0.042%	$90.0M	$84.0M	100x	as long as short
Binance HYPEUSDT	+0.0056%	4h	95.099	+0.080%	$382.5M	$849.0M	75x	as long as short
BingX HYPE-USDT	+0.0062%	4h	95.087	+0.067%	—	$49.0M	—	as long as short
StandX HYPE-USD	+0.0069%	1h	95.054	+0.033%	$691K	$2.7M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0083%	8h	95.122	+0.104%	$339K	$30K	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	95.092	+0.073%	$3.4M	$10.1M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	95.121	+0.103%	$402K	$130K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	95.050	+0.028%	$39K	$1.5M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	95.150	+0.133%	$7.3M	$51.0M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	95.148	+0.132%	$10.3M	$13.2M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	95.174	+0.159%	$230K	$17K	10x	as long as short
KuCoin HYPEUSDTMshort	+0.0100%	4h	95.054	+0.033%	$47.6M	$17.7M	75x
Backpack HYPE_USDC_PERP	+0.0100%	1h	95.007	−0.017%	$7.0M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	95.201	+0.187%	$29.6M	$53.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	95.092	+0.072%	$7.7M	$40.5M	10x	as long as short
Vest HYPE-PERP	+0.0100%	1h	95.180	+0.165%	—	$80K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	95.136	+0.119%	$503K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	95.178	+0.163%	$33K	$1.4M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	95.090	+0.070%	$2.1M	$334K	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.172	+0.157%	$1.4M	$5.2M	75x	as long as short
Extended HYPE-USDlong	+0.0104%	1h	95.023	long leg	$18.3M	$39.1M	50x
Kalshi KXHYPEPERP	+0.0129%	8h	95.264	+0.254%	$1.8M	$5.1M	2.3x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	95.152	+0.136%	$3.1M	$5.2M	20x	as long as short
Hyperliquid HYPE	+0.0206%	1h	95.217	+0.204%	$2.11B	$646.0M	10x	as long as short
BloFin HYPE-USDT	+0.0225%	4h	95.060	+0.039%	$17.4M	$11.4M	75x	as long as short
Reya HYPERUSDPERP	+0.0269%	1h	95.088	+0.069%	$85K	$90K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0155%	1h	95.150	+0.133%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0969%	1h	95.500	+0.502%	$31K	$334K	12x	as long as short