Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0098%/8h= +10.7% APRpaid last 24h +0.029%

Price spread now: SunX against gTrade (Gains Network)+0.069%7-day average — · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$321as in the Price arb table

costs, in and out, $10k−$3283.279% of the position

Long on gTrade (Gains Network)Short on SunX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and SunX is 0.069% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$7 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	95.375	L +0.0002% / S −0.0002%	pay 0.0000% / 1h	10m 36s	$66K	—	150x
Short	SunX HYPE-USDT	95.441	0.0100	get 0.0050% / 4h	10m 36s	$33K	$1.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.069%Rate

Funding earned: $20.55
Price spread: +0.069% → 0.000%: $6.92
Slippage, 4 orders: −$309.93
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$300.46
Costs to cover: 3.279%
Break-even: 109.4 days

Slippage from gTrade (Gains Network): virtual book (oracle exchange), 82 min ago; SunX: live order book, 7 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 gTrade (Gains Network) virtual book (oracle exchange), 82 min ago	130.00 bp	135.0 bp −$135	135.0 bp −$1,350	731.2 bp −$73.1K	7341.6 bp −$3.67M
Sell SunX live order book, 7 min ago	19.36 bp	33.8 bp −$34	doesn't fit	doesn't fit	doesn't fit

HYPE on 55 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
Kraken Futures PF_HYPEUSD	−0.0280%	1h	95.401	+0.028%	$18.2M	$31.9M	50x	as long as short
Phemex HYPEUSDT	−0.0242%	8h	95.358	−0.018%	$13.0M	$2.2M	50x	as long as short
Bluefin HYPE-PERP	−0.0190%	1h	95.336	−0.041%	$79K	$131K	20x	as long as short
Aster HYPEUSDT	−0.0106%	4h	95.371	−0.004%	$9.0M	$34.6M	300x	as long as short
Aftermath Perps HYPEUSD	−0.0084%	1h	95.442	+0.070%	$22K	$17K	10x	as long as short
Orderly PERP_HYPE_USDC	−0.0080%	4h	95.339	−0.038%	$146K	$642K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	95.137	−0.250%	$3K	$421	25x	as long as short
Coinbase International HYPE-PERP-INTX	−0.0064%	1h	95.350	−0.026%	$4.7M	$5.4M	50x	as long as short
Ondo Perps HYPE-USD.P	−0.0054%	1h	95.310	−0.068%	$678K	$1.2M	10x	as long as short
Gate HYPE_USDT	−0.0042%	4h	95.399	+0.025%	$57.4M	$54.1M	75x	as long as short

Show all 55 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX HYPE-USDT-SWAP	−0.0040%	8h	95.387	+0.013%	$119.2M	$304.3M	50x	as long as short
01 Exchange HYPEUSD	−0.0032%	1h	95.345	−0.031%	$101K	$355K	20x	as long as short
Phoenix HYPE	−0.0017%	1h	95.703	+0.344%	$197K	$1.1M	10x	as long as short
Bitget HYPEUSDT	−0.0016%	4h	95.377	+0.002%	$229.9M	$86.0M	75x	as long as short
Lighter HYPE	0.0000%	1h	95.397	+0.023%	$16.7M	$56.2M	20x	as long as short
Perpl HYPE	0.0000%	43m	95.377	+0.002%	$24K	$246K	10x	as long as short
gTrade (Gains Network) HYPE/USDlong	L +0.0002% / S −0.0002%	1h	95.375	long leg	$66K	—	150x
Backpack HYPE_USDC_PERP	+0.0018%	1h	95.359	−0.017%	$6.8M	$12.3M	20x	as long as short
edgeX HYPEUSDC	+0.0034%	4h	95.519	+0.151%	$5.1M	$28.2M	30x	as long as short
Binance HYPEUSDT	+0.0041%	4h	95.401	+0.027%	$388.1M	$844.3M	75x	as long as short
MEXC HYPE_USDT	+0.0046%	4h	95.380	+0.005%	$88.8M	$84.7M	100x	as long as short
KuCoin HYPEUSDTM	+0.0046%	4h	95.381	+0.006%	$47.8M	$17.7M	75x	as long as short
BingX HYPE-USDT	+0.0046%	4h	95.390	+0.016%	—	$50.7M	—	as long as short
Bybit HYPEUSDT	+0.0048%	8h	95.391	+0.017%	$323.8M	$262.7M	75x	as long as short
Derive HYPE-PERP	+0.0063%	1h	95.310	−0.068%	$16.5M	$5.7M	10x	as long as short
Bullet HYPE-USD	+0.0079%	1h	95.364	−0.012%	$113K	$582K	20x	as long as short
dYdX HYPE-USD	+0.0084%	1h	95.399	+0.025%	$128K	$96K	5x	as long as short
Lighter RH HYPE	+0.0096%	1h	95.403	+0.029%	$3.0M	$10.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	95.347	−0.029%	$246K	$1.1M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	95.372	−0.003%	$403K	$115K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0096%	8h	95.391	+0.016%	$340K	$30K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	95.310	−0.068%	$17K	$1.5M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	95.318	−0.059%	$5.3M	$50.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	95.483	+0.113%	$2.11B	$631.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	95.422	+0.050%	$10.3M	$12.5M	20x	as long as short
Arcus HYPE-USD	+0.0100%	1h	95.413	+0.040%	$1.1M	$2.7M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	95.627	+0.264%	$230K	$20K	10x	as long as short
Variational Omni HYPE	+0.0100%	8h	95.369	−0.007%	$30.4M	$51.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	95.541	+0.174%	$7.7M	$41.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	95.611	+0.247%	$335K	$922K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	95.586	+0.221%	$695K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	95.429	+0.056%	—	$80K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	95.339	−0.038%	$484K	$2.3M	20x	as long as short
SunX HYPE-USDTshort	+0.0100%	4h	95.441	+0.069%	$33K	$1.3M	20x
SoDEX HYPE-USD	+0.0100%	1h	95.391	+0.017%	$2.1M	$341K	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.466	+0.095%	$1.4M	$5.1M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	95.352	−0.024%	$18.2M	$35.6M	50x	as long as short
Kalshi KXHYPEPERP	+0.0136%	8h	95.435	+0.063%	$1.8M	$5.1M	2.3x	as long as short
RISEx HYPE/USDC	+0.0138%	1h	95.372	−0.003%	$3.2M	$5.1M	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0148%	1h	95.447	+0.075%	$7.6M	$4.3M	50x	as long as short
BloFin HYPE-USDT	+0.0191%	4h	95.400	+0.026%	$17.6M	$11.5M	75x	as long as short
Reya HYPERUSDPERP	+0.0267%	1h	95.320	−0.058%	$83K	$92K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0327% / S −0.0152%	1h	95.384	+0.010%	$1.4M	—	100x	as long as short
Hibachi HYPE/USDT-P	+0.0392%	1h	95.477	+0.107%	$206K	$268K	7x	as long as short
Injective HYPE/USDC PERP	+0.1234%	1h	95.170	−0.215%	$31K	$334K	12x	as long as short