Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0052%/8h= +5.7% APRpaid last 24h +0.033%

Price spread now: Pacifica against Gate−0.120%7-day average +0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$320.317% of the position

Long on Gate Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.004%$0 on $10k

Price spread, last 7 days+0.114%+$11 · spread now −0.120%, 7d avg +0.013%

Together, before fees+0.110%+ Points / potential airdropPacifica: Active · farm board+$11 on $10k · with fees, hour by hour

Funding pays, the price is against you. Pacifica is 0.133% cheaper against Gate than usual: you would sell low and buy high (spread −0.120% now, against its 7-day average of +0.013%). If the spread goes back, that is −$13 on $10k: about 8.5 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate HYPE_USDT	92.874	0.0048	pay 0.0024% / 4h	55m 54s	$44.6M	$54.4M	75x
Short	Pacifica HYPE	92.763	0.0100	get 0.0013% / 1h	55m 54s	$10.0M	$14.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.120%Rate

Funding earned: $10.92
Price spread: −0.120% → +0.013%: −$13.25
Slippage, 4 orders: −$8.68
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$34.01
Costs to cover: 0.317%
Break-even: 28.8 days

Slippage from Gate: live order book, 3 min ago; Pacifica: 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, 3 min ago	0.05 bp	12.6 bp −$13	19.4 bp −$194	35.3 bp −$3,529	56.9 bp −$28.5K
Sell Pacifica live order book, 3 min ago	0.38 bp	5.4 bp −$5	doesn't fit	doesn't fit	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
Arcus HYPE-USD	−0.0948%	1h	92.670	−0.220%	$1.2M	$3.8M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0816%	1h	92.530	−0.371%	$194K	$227K	7x	as long as short
01 Exchange HYPEUSD	−0.0144%	1h	92.827	−0.051%	$86K	$351K	20x	as long as short
Bullet HYPE-USD	−0.0107%	1h	92.847	−0.029%	$111K	$579K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0086%	1h	92.709	−0.177%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.725	−0.160%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0076%	1h	92.340	−0.575%	$699K	$1.1M	10x	as long as short
Orderly PERP_HYPE_USDC	−0.0061%	4h	92.829	−0.048%	$158K	$663K	20x	as long as short
Aster HYPEUSDT	−0.0004%	4h	92.830	−0.048%	$8.7M	$36.2M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.710	−0.177%	$127K	$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 HYPE	0.0000%	43m	92.874	0.000%	$23K	$309K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.876	+0.002%	$62K	—	150x	as long as short
Derive HYPE-PERP	+0.0017%	1h	92.809	−0.069%	$16.1M	$7.5M	10x	as long as short
Phemex HYPEUSDT	+0.0018%	8h	92.838	−0.039%	$12.5M	$2.7M	50x	as long as short
Phoenix HYPE	+0.0026%	1h	92.584	−0.312%	$210K	$1.2M	10x	as long as short
BingX HYPE-USDT	+0.0030%	4h	92.855	−0.020%	—	$53.2M	—	as long as short
Bybit HYPEUSDT	+0.0038%	8h	92.843	−0.033%	$318.7M	$278.9M	75x	as long as short
Gate HYPE_USDTlong	+0.0048%	4h	92.874	long leg	$44.6M	$54.4M	75x
OKX HYPE-USDT-SWAP	+0.0072%	8h	92.867	−0.008%	$113.4M	$301.4M	50x	as long as short
Binance HYPEUSDT	+0.0078%	4h	92.857	−0.018%	$373.5M	$891.9M	75x	as long as short
MEXC HYPE_USDT	+0.0080%	4h	92.841	−0.036%	$87.9M	$80.1M	100x	as long as short
Paradex HYPE-USD-PERP	+0.0093%	8h	92.795	−0.085%	$339K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.868	−0.007%	$16.1M	$61.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.859	−0.016%	$3.1M	$11.6M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.802	−0.078%	$68K	$1.2M	50x	as long as short
edgeX HYPEUSDC	+0.0098%	4h	92.541	−0.359%	$5.1M	$29.2M	30x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	92.770	−0.112%	$16K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.775	−0.106%	$5.8M	$43.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.930	+0.060%	$2.03B	$659.0M	10x	as long as short
Pacifica HYPEshort	+0.0100%	1h	92.763	−0.120%	$10.0M	$14.9M	20x
KuCoin HYPEUSDTM	+0.0100%	4h	92.864	−0.011%	$46.0M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.847	−0.029%	$224.6M	$97.4M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.860	−0.015%	$7.4M	$10.0M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.820	−0.058%	$28.4M	$57.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.627	−0.266%	$7.5M	$45.7M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.550	−0.349%	$336K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.567	−0.331%	$664K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.823	−0.055%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.866	−0.009%	$469K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.897	+0.025%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.851	−0.025%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.000	+0.136%	$1.4M	$6.2M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.810	−0.069%	$202K	$13K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.826	−0.052%	$18.2M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.853	−0.023%	$393K	$164K	20x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	92.340	−0.575%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.960	+0.093%	$4.7M	$5.5M	50x	as long as short
Reya HYPERUSDPERP	+0.0260%	1h	92.856	−0.020%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0263%	8h	92.804	−0.075%	$1.8M	$5.4M	2.3x	as long as short
BloFin HYPE-USDT	+0.0321%	4h	92.530	−0.370%	$16.8M	$11.5M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0153%	1h	92.876	+0.002%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0331%	1h	92.936	+0.066%	$20.7M	$30.3M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0428%	1h	92.955	+0.087%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.864	−0.011%	$3.2M	$6.4M	20x	as long as short
Bluefin HYPE-PERP	+0.4965%	1h	92.839	−0.038%	$79K	$169K	20x	as long as short