Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0078%/8h= +8.6% APRpaid last 24h +0.023%

Price spread now: edgeX against gTrade (Gains Network)+0.130%68s7-day average — · you sell dearer than you buy

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

Long on gTrade (Gains Network)Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and edgeX is 0.130% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$13 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 68 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	gTrade (Gains Network) HYPE/USD	92.192	L +0.0002% / S −0.0002%	pay 0.0000% / 1h	45m 59s	$61K	—	150x
Short	edgeX HYPEUSDC	92.311	0.0080	get 0.0040% / 4h	45m 59s	$4.9M	$29.4M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee edgeXbpOrdersPrice spread, now +0.130%Rate

Funding earned: $16.42
Price spread: +0.130% → 0.000%: $12.96
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $10.38
Costs to cover: 0.190%
Break-even: 2.6 days

Slippage unknown: gTrade (Gains Network): no order-book sample; edgeX: live order book, 3 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell edgeX live order book, 3 min ago	0.05 bp	4.9 bp −$5	5.6 bp −$56	doesn't fit	doesn't fit

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Arcus HYPE-USD	−0.0948%	1h	92.180	−0.013%	$1.2M	$3.8M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0648%	1h	92.231	+0.042%	$193K	$228K	7x	as long as short
01 Exchange HYPEUSD	−0.0128%	1h	92.151	−0.044%	$86K	$353K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0128%	1h	92.409	+0.235%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.174	−0.019%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0071%	4h	92.155	−0.040%	$157K	$663K	20x	as long as short
Bullet HYPE-USD	−0.0058%	1h	92.163	−0.031%	$110K	$580K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0026%	1h	92.180	−0.013%	$696K	$1.1M	10x	as long as short
Aster HYPEUSDT	−0.0012%	4h	92.197	+0.006%	$8.6M	$36.4M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.238	+0.050%	$126K	$31K	5x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	92.224	+0.035%	$22K	$310K	10x	as long as short
gTrade (Gains Network) HYPE/USDlong	L +0.0002% / S −0.0002%	1h	92.192	long leg	$61K	—	150x
BingX HYPE-USDT	+0.0030%	4h	92.209	+0.019%	—	$53.2M	—	as long as short
Bybit HYPEUSDT	+0.0040%	8h	92.200	+0.009%	$315.5M	$280.8M	75x	as long as short
Derive HYPE-PERP	+0.0041%	1h	92.141	−0.055%	$16.0M	$7.5M	10x	as long as short
Phoenix HYPE	+0.0043%	1h	92.430	+0.258%	$209K	$1.2M	10x	as long as short
Gate HYPE_USDT	+0.0048%	4h	92.208	+0.017%	$44.3M	$54.7M	75x	as long as short
Phemex HYPEUSDT	+0.0064%	8h	92.224	+0.035%	$12.5M	$2.7M	50x	as long as short
Binance HYPEUSDT	+0.0076%	4h	92.202	+0.011%	$370.7M	$897.4M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0076%	8h	92.213	+0.023%	$112.6M	$300.8M	50x	as long as short
MEXC HYPE_USDT	+0.0076%	4h	92.209	+0.019%	$87.0M	$80.4M	100x	as long as short
Popdex HYPEUSDT	+0.0080%	1h	92.184	−0.009%	$67K	$1.2M	50x	as long as short
edgeX HYPEUSDCshort	+0.0080%	4h	92.311	+0.130%	$4.9M	$29.4M	30x
Paradex HYPE-USD-PERP	+0.0091%	8h	92.238	+0.050%	$338K	$163K	20x	as long as short
ApeX Omni HYPEUSDT	+0.0093%	1h	92.333	+0.153%	$337K	$1.0M	50x	as long as short
Lighter HYPE	+0.0096%	1h	92.204	+0.013%	$16.0M	$62.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.211	+0.021%	$3.1M	$11.6M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	92.164	−0.031%	$390K	$164K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.160	−0.035%	$13K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.151	−0.044%	$5.7M	$43.2M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.240	+0.052%	$2.01B	$663.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.235	+0.047%	$10.0M	$15.0M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.800	+0.660%	$202K	$13K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.220	+0.030%	$45.7M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.203	+0.012%	$223.3M	$98.2M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.195	+0.003%	$7.2M	$10.2M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.158	−0.037%	$28.3M	$57.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.327	+0.147%	$7.5M	$45.9M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.256	+0.070%	$663K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.224	+0.035%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.183	−0.010%	$474K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.250	+0.063%	$31K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.200	+0.009%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.300	+0.117%	$1.4M	$6.2M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.193	+0.001%	$18.1M	$43.4M	50x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	93.000	+0.877%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.210	+0.020%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0259%	8h	92.280	+0.096%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0261%	1h	92.158	−0.037%	$78K	$140K	15x	as long as short
BloFin HYPE-USDT	+0.0311%	4h	92.180	−0.013%	$16.7M	$11.5M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0329% / S −0.0153%	1h	92.181	−0.011%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0334%	1h	92.255	+0.068%	$20.5M	$30.4M	50x	as long as short
Bluefin HYPE-PERP	+0.0401%	1h	92.137	−0.060%	$78K	$169K	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0542%	1h	92.294	+0.111%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.275	+0.090%	$3.1M	$6.4M	20x	as long as short