Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0048%/8h= +5.3% APRpaid last 24h +0.033%

Price spread now: Variational Omni against Gate+0.014%7-day average −0.014% · you sell dearer than you buy

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

Long on Gate Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.038%+$4 on $10k

Price spread, last 7 days−0.027%−$3 · spread now +0.014%, 7d avg −0.014%

Together, before fees+0.010%+ Points / potential airdropVariational Omni: Active · farm board+$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Variational Omni is 0.027% dearer against Gate than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate HYPE_USDT	92.807	0.0052	pay 0.0026% / 4h	54m 53s	$44.5M	$54.4M	75x
Short	Variational Omni HYPE	92.820	0.0100	get 0.0100% / 8h	4h 54m	$28.4M	$57.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.014%Rate

Funding earned: $10.08
Price spread: +0.014% → −0.014%: $2.72
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$2.2
Costs to cover: 0.150%
Break-even: 8.5 days

Slippage unknown: Gate: live order book, 4 min ago; Variational Omni: RFQ quote, 4 min ago. 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, 4 min ago	0.05 bp	12.6 bp −$13	19.4 bp −$194	35.3 bp −$3,529	56.9 bp −$28.5K
Sell Variational Omni RFQ quote, 4 min ago	0.51 bp	doesn't fit	8.3 bp −$83	27.1 bp −$2,705	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	92.690	−0.126%	$1.2M	$3.8M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0800%	1h	92.839	+0.034%	$195K	$227K	7x	as long as short
01 Exchange HYPEUSD	−0.0128%	1h	92.809	+0.002%	$86K	$351K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0091%	1h	92.736	−0.076%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.869	+0.067%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0066%	1h	92.786	−0.023%	$111K	$579K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0062%	4h	92.802	−0.005%	$158K	$663K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0030%	1h	92.340	−0.503%	$699K	$1.1M	10x	as long as short
Aster HYPEUSDT	−0.0004%	4h	92.837	+0.032%	$8.7M	$36.2M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.870	+0.068%	$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	92.826	+0.020%	$23K	$309K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.835	+0.030%	$62K	—	150x	as long as short
Derive HYPE-PERP	+0.0010%	1h	92.778	−0.032%	$16.1M	$7.5M	10x	as long as short
Phemex HYPEUSDT	+0.0011%	8h	92.809	+0.002%	$12.5M	$2.7M	50x	as long as short
Phoenix HYPE	+0.0026%	1h	92.584	−0.240%	$210K	$1.2M	10x	as long as short
BingX HYPE-USDT	+0.0030%	4h	92.807	0.000%	—	$53.2M	—	as long as short
Bybit HYPEUSDT	+0.0039%	8h	92.800	−0.008%	$318.6M	$278.9M	75x	as long as short
Gate HYPE_USDTlong	+0.0052%	4h	92.807	long leg	$44.5M	$54.4M	75x
ApeX Omni HYPEUSDT	+0.0068%	1h	92.356	−0.486%	$337K	$1.0M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0073%	8h	92.814	+0.008%	$113.4M	$301.2M	50x	as long as short
MEXC HYPE_USDT	+0.0076%	4h	92.823	+0.017%	$87.9M	$80.1M	100x	as long as short
Binance HYPEUSDT	+0.0086%	4h	92.813	+0.006%	$373.3M	$891.8M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0093%	8h	92.851	+0.047%	$339K	$162K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.817	+0.010%	$16.1M	$61.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.822	+0.016%	$3.1M	$11.6M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.798	−0.010%	$68K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	92.820	+0.014%	$14K	$1.6M	10x	as long as short
edgeX HYPEUSDC	+0.0100%	4h	92.417	−0.421%	$5.0M	$29.1M	30x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.790	−0.018%	$5.8M	$43.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.880	+0.079%	$2.02B	$659.1M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.832	+0.027%	$10.0M	$14.9M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.831	+0.026%	$46.0M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.811	+0.004%	$224.6M	$97.5M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.811	+0.004%	$7.4M	$10.0M	20x	as long as short
Variational Omni HYPEshort	+0.0100%	8h	92.820	+0.014%	$28.4M	$57.0M	—
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.596	−0.227%	$7.5M	$45.7M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.779	−0.030%	$665K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.823	+0.017%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.828	+0.023%	$469K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.861	+0.058%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.794	−0.014%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.986	+0.193%	$1.4M	$6.2M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.810	+0.003%	$202K	$13K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.794	−0.014%	$18.2M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.802	−0.006%	$392K	$164K	20x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	92.730	−0.083%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.850	+0.046%	$4.7M	$5.5M	50x	as long as short
Reya HYPERUSDPERP	+0.0260%	1h	92.789	−0.019%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0263%	8h	92.884	+0.083%	$1.8M	$5.4M	2.3x	as long as short
BloFin HYPE-USDT	+0.0326%	4h	92.812	+0.005%	$16.9M	$11.5M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0153%	1h	92.822	+0.016%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0331%	1h	92.870	+0.068%	$20.7M	$30.3M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0407%	1h	92.891	+0.091%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.885	+0.085%	$3.2M	$6.4M	20x	as long as short
Bluefin HYPE-PERP	+0.3594%	1h	92.823	+0.017%	$79K	$169K	20x	as long as short