Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.007%

Price spread now: Derive against Gate+0.025%7-day average −0.013% · you sell dearer than you buy

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

Long on Gate Short on Derive

What this pair did over the last

the charts below follow

Funding, last 7 days+0.058%+$6 on $10k

Price spread, last 4 days (all we have)−0.058%−$6 · spread now +0.025%, 7d avg −0.013%

Together, before fees0.000%$0 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Derive is 0.038% dearer against Gate than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate HYPE_USDT	93.177	0.0100	pay 0.0050% / 4h	2h 31m	$46.7M	$54.3M	75x
Short	Derive HYPE-PERP	93.200	0.0100	get 0.0013% / 1h	31m 44s	$16.1M	$7.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive against Gate. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 GatebpFee DerivebpOrdersPrice spread, now +0.025%Rate

Funding earned: $0
Price spread: +0.025% → −0.013%: $3.75
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Derive: 3 bp × 2 orders: −$6
Net: −$17.25
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 2 min ago; Derive: 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 Gate live order book, 2 min ago	0.43 bp	11.3 bp −$11	15.8 bp −$158	31.3 bp −$3,126	56.4 bp −$28.2K
Sell Derive no order-book sample	—	—	—	—	—

Derive: 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	−0.1616%	1h	93.216	+0.042%	$196K	$234K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0359%	1h	93.307	+0.140%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.195	+0.019%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0059%	1h	93.219	+0.045%	$111K	$578K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0023%	4h	93.213	+0.039%	$146K	$662K	20x	as long as short
01 Exchange HYPEUSD	−0.0016%	1h	93.307	+0.140%	$87K	$366K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.219	+0.045%	$128K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.246	+0.074%	$22K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.247	+0.075%	$62K	—	150x	as long as short
Arcus HYPE-USD	+0.0011%	1h	93.166	−0.012%	$1.0M	$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
Bitget HYPEUSDT	+0.0016%	4h	93.176	−0.001%	$225.2M	$98.9M	75x	as long as short
Bybit HYPEUSDT	+0.0022%	8h	93.163	−0.015%	$316.5M	$282.9M	75x	as long as short
Ondo Perps HYPE-USD.P	+0.0024%	1h	93.150	−0.029%	$702K	$1.2M	10x	as long as short
Phoenix HYPE	+0.0026%	1h	93.263	+0.092%	$207K	$1.2M	10x	as long as short
Phemex HYPEUSDT	+0.0047%	8h	93.223	+0.049%	$12.6M	$2.7M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0094%	8h	93.223	+0.049%	$339K	$162K	20x	as long as short
edgeX HYPEUSDC	+0.0095%	4h	93.463	+0.307%	$5.0M	$30.0M	30x	as long as short
Lighter HYPE	+0.0096%	1h	93.199	+0.024%	$16.1M	$63.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.195	+0.019%	$3.1M	$11.5M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.276	+0.106%	$75K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.160	−0.018%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.237	+0.065%	$8.0M	$48.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.230	+0.057%	$2.03B	$668.9M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.185	+0.009%	$8.7M	$36.4M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.229	+0.056%	$10.0M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.191	+0.015%	$373.4M	$912.7M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.186	+0.010%	$114.2M	$309.2M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.230	+0.057%	$215K	$15K	10x	as long as short
Gate HYPE_USDTlong	+0.0100%	4h	93.177	long leg	$46.7M	$54.3M	75x
MEXC HYPE_USDT	+0.0100%	4h	93.205	+0.030%	$90.9M	$81.1M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.187	+0.011%	$46.0M	$18.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.190	+0.014%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.248	+0.076%	$7.3M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.351	+0.186%	$28.6M	$56.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.365	+0.202%	$7.5M	$47.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.496	+0.342%	$343K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.230	+0.057%	$667K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.310	+0.143%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.275	+0.105%	$483K	$2.7M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.237	+0.064%	$79K	$166K	20x	as long as short
Derive HYPE-PERPshort	+0.0100%	1h	93.200	+0.025%	$16.1M	$7.4M	10x
SunX HYPE-USDT	+0.0100%	4h	93.268	+0.098%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.198	+0.023%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.420	+0.261%	$1.4M	$6.5M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.163	−0.015%	$18.1M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.225	+0.052%	$394K	$158K	20x	as long as short
Kalshi KXHYPEPERP	+0.0110%	8h	93.313	+0.146%	$1.8M	$5.7M	2.3x	as long as short
Injective HYPE/USDC PERP	+0.0122%	1h	93.130	−0.050%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.230	+0.057%	$4.8M	$5.6M	50x	as long as short
Reya HYPERUSDPERP	+0.0269%	1h	93.225	+0.051%	$80K	$127K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0154%	1h	93.248	+0.076%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.202	+0.027%	$16.9M	$11.9M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0342%	1h	93.275	+0.105%	$20.8M	$29.6M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0415%	1h	93.285	+0.116%	$7.5M	$4.0M	50x	as long as short
RISEx HYPE/USDC	+0.0527%	1h	93.265	+0.095%	$3.2M	$6.3M	20x	as long as short