Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:38 UTC−0.0002%/8h= −0.3% APRpaid last 24h +0.008%

Price spread now: Perpl against gTrade (Gains Network)+0.033%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 Perpl

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 airdropPerpl: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Perpl is 0.033% dearer against gTrade (Gains Network) than usual: you sell high and buy low, +$3 on $10k if it 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	93.364	L +0.0002% / S −0.0002%	pay 0.0000% / 1h	40m 06s	$62K	—	150x
Short	Perpl HYPE	93.394	0	get 0.0000% / 43m	28m 06s	$23K	$322K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Perpl 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 PerplbpOrdersPrice spread, now +0.033%Rate

Funding earned: −$0.48
Price spread: +0.033% → 0.000%: $3.28
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Net: −$21
Costs to cover: 0.238%
Break-even: never at this rate

Slippage unknown: gTrade (Gains Network): no order-book sample; Perpl: no order-book sample. 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 Perpl no order-book sample	—	—	—	—	—

gTrade (Gains Network) and Perpl: 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	−0.1264%	1h	93.481	+0.125%	$196K	$226K	7x	as long as short
Arcus HYPE-USD	−0.0899%	1h	93.229	−0.144%	$1.2M	$3.8M	10x	as long as short
Bluefin HYPE-PERP	−0.0184%	1h	93.318	−0.049%	$79K	$170K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.351	−0.014%	$3K	$331	25x	as long as short
Phemex HYPEUSDT	−0.0063%	8h	93.304	−0.064%	$12.6M	$2.7M	50x	as long as short
Ondo Perps HYPE-USD.P	−0.0058%	1h	93.260	−0.111%	$700K	$980K	10x	as long as short
01 Exchange HYPEUSD	−0.0048%	1h	93.402	+0.041%	$85K	$346K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0046%	4h	93.328	−0.038%	$155K	$630K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0036%	1h	93.409	+0.049%	$22K	$21K	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.361	−0.003%	$128K	$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 HYPEshort	0.0000%	43m	93.394	+0.033%	$23K	$322K	10x
gTrade (Gains Network) HYPE/USDlong	L +0.0002% / S −0.0002%	1h	93.364	long leg	$62K	—	150x
Aster HYPEUSDT	+0.0016%	4h	93.332	−0.034%	$8.8M	$35.6M	300x	as long as short
Bullet HYPE-USD	+0.0021%	1h	93.334	−0.032%	$111K	$578K	20x	as long as short
Phoenix HYPE	+0.0026%	1h	93.549	+0.198%	$213K	$1.2M	10x	as long as short
BingX HYPE-USDT	+0.0026%	4h	93.346	−0.019%	—	$53.1M	—	as long as short
Bybit HYPEUSDT	+0.0034%	8h	93.332	−0.034%	$321.8M	$277.0M	75x	as long as short
Gate HYPE_USDT	+0.0044%	4h	93.355	−0.009%	$44.5M	$54.7M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0078%	8h	93.342	−0.023%	$114.1M	$302.0M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.351	−0.013%	$16.3M	$61.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.347	−0.018%	$3.1M	$11.5M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.397	+0.036%	$69K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.380	+0.017%	$339K	$162K	20x	as long as short
Binance HYPEUSDT	+0.0097%	4h	93.348	−0.017%	$378.8M	$877.0M	75x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.410	+0.049%	$17K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.335	−0.030%	$5.8M	$43.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.437	+0.078%	$2.04B	$655.6M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.384	+0.022%	$10.0M	$14.6M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.580	+0.232%	$204K	$10K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.344	−0.021%	$89.9M	$80.7M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.364	0.000%	$45.9M	$18.1M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.346	−0.019%	$225.7M	$96.7M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.315	−0.052%	$7.4M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.317	−0.050%	$31.1M	$53.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.553	+0.202%	$7.6M	$45.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.487	+0.132%	$340K	$999K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.585	+0.237%	$668K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.403	+0.042%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.372	+0.009%	$472K	$2.5M	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.332	−0.034%	$16.2M	$7.6M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.428	+0.069%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.332	−0.034%	$2.0M	$1.9M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.316	−0.051%	$18.4M	$43.7M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.333	−0.033%	$397K	$163K	20x	as long as short
edgeX HYPEUSDC	+0.0116%	4h	93.476	+0.121%	$5.1M	$29.6M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.440	+0.082%	$4.9M	$5.4M	50x	as long as short
HTX HYPE-USDT	+0.0199%	4h	93.510	+0.157%	$1.4M	$6.0M	75x	as long as short
Reya HYPERUSDPERP	+0.0257%	1h	93.331	−0.035%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0279%	8h	93.418	+0.058%	$1.9M	$5.1M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0156%	1h	93.364	+0.001%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.300	−0.068%	$16.9M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0393%	1h	93.426	+0.067%	$7.4M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0510%	1h	93.450	+0.092%	$3.2M	$6.5M	20x	as long as short
Injective HYPE/USDC PERP	+0.0519%	1h	93.200	−0.175%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0685%	1h	93.408	+0.047%	$20.7M	$30.1M	50x	as long as short