Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0096%/8h= +10.5% APRpaid last 24h +0.014%

Price spread now: Nado against Gate+0.025%7-day average +0.018% · 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−$30as in the Price arb table

costs, in and out, $10k−$310.311% of the position

Long on Gate Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.015%+$2 on $10k

Price spread, last 7 days−0.009%−$1 · spread now +0.025%, 7d avg +0.018%

Together, before fees+0.006%+ Points / potential airdropNado: Active · farm board+$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.018%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate HYPE_USDT	93.278	0.0004	pay 0.0002% / 4h	2h 51m	$44.1M	$56.2M	75x
Short	Nado HYPE-PERP	93.302	0.0100	get 0.0012% / 1h	51m 27s	$6.0M	$44.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Gate. 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 GatebpFee NadobpOrdersPrice spread, now +0.025%Rate

Funding earned: $20.16
Price spread: +0.025% → +0.018%: $0.69
Slippage, 4 orders: −$9.12
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$10.27
Costs to cover: 0.311%
Break-even: 10.6 days

Slippage from Gate: live order book, 2 min ago; Nado: live order book, 3 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 Gate live order book, 2 min ago	0.05 bp	10.1 bp −$10	13.3 bp −$133	29.0 bp −$2,897	50.6 bp −$25.3K
Sell Nado live order book, 3 min ago	0.05 bp	3.6 bp −$4	6.5 bp −$65	41.0 bp −$4,099	doesn't fit

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	−0.1304%	1h	93.259	−0.021%	$197K	$233K	7x	as long as short
Ondo Perps HYPE-USD.P	−0.0191%	1h	93.210	−0.073%	$700K	$949K	10x	as long as short
Aftermath Perps HYPEUSD	−0.0128%	1h	93.305	+0.029%	$22K	$22K	10x	as long as short
01 Exchange HYPEUSD	−0.0096%	1h	93.334	+0.060%	$89K	$344K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.320	+0.045%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0039%	1h	93.271	−0.007%	$113K	$583K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.326	+0.051%	$127K	$33K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.413	+0.145%	$1.9M	$5.4M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.269	−0.009%	$23K	$343K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.336	+0.063%	$20K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate HYPE_USDTlong	+0.0004%	4h	93.278	long leg	$44.1M	$56.2M	75x
Aster HYPEUSDT	+0.0006%	4h	93.286	+0.009%	$8.9M	$36.3M	300x	as long as short
Derive HYPE-PERP	+0.0024%	1h	93.295	+0.018%	$16.4M	$7.1M	10x	as long as short
Bybit HYPEUSDT	+0.0041%	8h	93.290	+0.013%	$325.2M	$288.3M	75x	as long as short
Phoenix HYPE	+0.0068%	1h	93.368	+0.096%	$215K	$1.2M	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0077%	4h	93.348	+0.075%	$180K	$536K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.330	+0.056%	$18.5M	$59.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.295	+0.018%	$3.1M	$12.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.291	+0.014%	$56K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.290	+0.013%	$40K	$1.7M	10x	as long as short
Nado HYPE-PERPshort	+0.0100%	1h	93.302	+0.025%	$6.0M	$44.4M	10x
Hyperliquid HYPE	+0.0100%	1h	93.354	+0.081%	$2.03B	$668.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.308	+0.032%	$10.0M	$14.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.302	+0.026%	$385.8M	$890.1M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.297	+0.020%	$114.7M	$316.1M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.261	−0.018%	$1.2M	$4.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.335	+0.062%	$204K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.286	+0.009%	$92.2M	$81.6M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.315	+0.040%	$46.3M	$19.4M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.303	+0.027%	$226.6M	$102.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.301	+0.025%	—	$54.4M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.361	+0.089%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.285	+0.007%	$28.8M	$49.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.383	+0.113%	$7.5M	$46.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.287	+0.010%	$405K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.340	+0.066%	$675K	$2.4M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.341	+0.068%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.324	+0.049%	$493K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.341	+0.068%	$76K	$169K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.327	+0.053%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.340	+0.066%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.340	+0.066%	$12.7M	$2.6M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0100%	8h	93.306	+0.030%	$339K	$171K	20x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.272	−0.006%	$18.4M	$41.0M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.364	+0.092%	$397K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0113%	4h	93.276	−0.002%	$5.1M	$29.5M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.440	+0.174%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0245%	1h	93.304	+0.028%	$77K	$157K	15x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.130	−0.159%	$30K	$231K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0317%	1h	93.448	+0.182%	$7.4M	$4.6M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0165%	1h	93.331	+0.056%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.281	+0.003%	$17.1M	$12.5M	75x	as long as short
HTX HYPE-USDT	+0.0410%	4h	93.493	+0.230%	$1.5M	$7.6M	75x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.358	+0.086%	$2.7M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0574%	1h	93.438	+0.171%	$19.2M	$25.8M	50x	as long as short