Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0093%/8h= +10.2% APRpaid last 24h +0.032%

Price spread now: Paradex against gTrade (Gains Network)+0.032%7-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 Paradex

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 airdropParadex: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Paradex is 0.032% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$3 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) HYPE/USD	94.200	L +0.0002% / S −0.0002%	pay 0.0000% / 1h	12m 37s	$63K	—	150x
Short	Paradex HYPE-USD-PERP	94.230	0.0095	get 0.0095% / 8h	2h 12m	$342K	$158K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.032%Rate

Funding earned: $19.49
Price spread: +0.032% → 0.000%: $3.19
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: $8.68
Costs to cover: 0.140%
Break-even: 3.9 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Paradex: live order book, 36 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 Paradex live order book, 36 min ago	3.73 bp	5.7 bp −$6	9.0 bp −$90	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
Hibachi HYPE/USDT-P	−0.1328%	1h	94.055	−0.154%	$199K	$239K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0391%	1h	93.960	−0.254%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.149	−0.054%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0016%	1h	94.183	−0.018%	$112K	$580K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0015%	4h	94.155	−0.048%	$147K	$678K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.186	−0.014%	$129K	$29K	5x	as long as short
01 Exchange HYPEUSD	0.0000%	1h	94.225	+0.027%	$86K	$372K	20x	as long as short
Perpl HYPE	0.0000%	43m	94.193	−0.007%	$23K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USDlong	L +0.0002% / S −0.0002%	1h	94.200	long leg	$63K	—	150x
Arcus HYPE-USD	+0.0011%	1h	94.202	+0.002%	$1.1M	$4.0M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit HYPEUSDT	+0.0021%	8h	94.210	+0.011%	$319.5M	$285.1M	75x	as long as short
Bitget HYPEUSDT	+0.0022%	4h	94.226	+0.028%	$227.3M	$99.2M	75x	as long as short
Phoenix HYPE	+0.0026%	1h	94.200	0.000%	$209K	$1.2M	10x	as long as short
Phemex HYPEUSDT	+0.0027%	8h	94.145	−0.058%	$12.8M	$2.8M	50x	as long as short
Ondo Perps HYPE-USD.P	+0.0066%	1h	94.080	−0.127%	$709K	$1.2M	10x	as long as short
Paradex HYPE-USD-PERPshort	+0.0095%	8h	94.230	+0.032%	$342K	$158K	20x
Lighter HYPE	+0.0096%	1h	94.221	+0.023%	$16.4M	$63.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.204	+0.004%	$3.1M	$11.6M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.254	+0.057%	$72K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.180	−0.021%	$28K	$1.7M	10x	as long as short
edgeX HYPEUSDC	+0.0100%	4h	94.090	−0.117%	$5.0M	$30.2M	30x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.213	+0.014%	$7.2M	$48.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.289	+0.094%	$2.06B	$676.1M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.238	+0.040%	$8.8M	$36.5M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.254	+0.057%	$10.2M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.264	+0.068%	$378.3M	$919.8M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	94.234	+0.036%	$116.5M	$316.2M	50x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.219	+0.020%	$48.1M	$55.3M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.229	+0.031%	$90.0M	$82.0M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.218	+0.019%	$46.5M	$18.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.219	+0.020%	—	$53.5M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.229	+0.031%	$7.2M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.099	−0.107%	$28.9M	$56.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.125	−0.079%	$7.7M	$48.4M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.113	−0.092%	$337K	$998K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.142	−0.062%	$674K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.288	+0.094%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.252	+0.055%	$478K	$2.8M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	94.192	−0.008%	$80K	$166K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	94.165	−0.038%	$16.2M	$7.4M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.244	+0.047%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.185	−0.016%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.333	+0.141%	$1.4M	$6.6M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.197	−0.003%	$217K	$15K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.191	−0.009%	$18.3M	$43.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.176	−0.025%	$398K	$159K	20x	as long as short
Kalshi KXHYPEPERP	+0.0120%	8h	94.246	+0.049%	$1.8M	$5.6M	2.3x	as long as short
Injective HYPE/USDC PERP	+0.0122%	1h	94.310	+0.117%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	94.220	+0.021%	$4.7M	$6.1M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0153%	1h	94.254	+0.057%	$7.5M	$4.1M	50x	as long as short
Reya HYPERUSDPERP	+0.0270%	1h	94.197	−0.003%	$77K	$130K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0333% / S −0.0154%	1h	94.190	−0.011%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0338%	1h	94.260	+0.064%	$21.0M	$29.6M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.169	−0.033%	$16.8M	$12.1M	75x	as long as short
RISEx HYPE/USDC	+0.0527%	1h	94.279	+0.084%	$3.2M	$6.3M	20x	as long as short