Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0112%/8h= +12.3% APRpaid last 24h +0.023%

Price spread now: Gate against Hotstuff−0.013%7-day average — · you buy dearer than you sell

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

Long on Hotstuff Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), 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	Hotstuff HYPE-PERP	93.603	−0.0080	get 0.0010% / 1h	16m 37s	$3K	$331	25x
Short	Gate HYPE_USDT	93.591	0.0032	get 0.0016% / 4h	2h 16m	$44.1M	$57.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Hotstuff. 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 HotstuffbpFee GatebpOrdersPrice spread, now −0.013%Rate

Funding earned: $23.52
Price spread: −0.013% → 0.000%: −$1.28
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $2.24
Costs to cover: 0.200%
Break-even: 6.3 days

Slippage unknown: Hotstuff: no order-book sample; Gate: live order book, 2 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 Hotstuff no order-book sample	—	—	—	—	—
Sell Gate live order book, 2 min ago	0.05 bp	7.7 bp −$8	13.5 bp −$135	29.0 bp −$2,896	51.6 bp −$25.8K

Hotstuff: 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	−0.0984%	1h	93.593	−0.011%	$198K	$233K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0283%	1h	93.650	+0.050%	$22K	$22K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0235%	1h	93.590	−0.014%	$702K	$934K	10x	as long as short
Hotstuff HYPE-PERPlong	−0.0080%	1h	93.603	long leg	$3K	$331	25x
01 Exchange HYPEUSD	−0.0064%	1h	93.621	+0.019%	$90K	$347K	20x	as long as short
Bullet HYPE-USD	−0.0024%	1h	93.600	−0.003%	$112K	$582K	20x	as long as short
Derive HYPE-PERP	−0.0021%	1h	93.562	−0.044%	$16.4M	$7.0M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.645	+0.045%	$127K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.597	−0.006%	$23K	$337K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.649	+0.049%	$20K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0021%	4h	93.589	−0.015%	$8.9M	$35.8M	300x	as long as short
Gate HYPE_USDTshort	+0.0032%	4h	93.591	−0.013%	$44.1M	$57.2M	75x
Bybit HYPEUSDT	+0.0035%	8h	93.580	−0.025%	$325.9M	$287.0M	75x	as long as short
Popdex HYPEUSDT	+0.0056%	1h	93.601	−0.002%	$59K	$1.2M	50x	as long as short
Orderly PERP_HYPE_USDC	+0.0060%	4h	93.625	+0.024%	$176K	$538K	20x	as long as short
Phoenix HYPE	+0.0068%	1h	93.603	0.000%	$216K	$1.2M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.645	+0.045%	$18.6M	$59.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.630	+0.029%	$3.1M	$12.4M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0100%	8h	93.613	+0.011%	$340K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.620	+0.018%	$37K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.615	+0.013%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.698	+0.101%	$2.04B	$670.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.620	+0.018%	$10.0M	$14.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.591	−0.012%	$386.2M	$889.2M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.577	−0.028%	$115.0M	$315.9M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.569	−0.036%	$1.2M	$4.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.690	+0.093%	$205K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.586	−0.018%	$93.7M	$82.3M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.597	−0.006%	$46.4M	$18.7M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.603	0.000%	$227.3M	$102.4M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.588	−0.016%	—	$54.3M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.646	+0.046%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.660	+0.061%	$29.2M	$50.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.579	−0.026%	$7.5M	$45.3M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.678	+0.080%	$407K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.594	−0.010%	$677K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.638	+0.037%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.646	+0.046%	$494K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.608	+0.005%	$76K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.690	+0.093%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.603	0.000%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.657	+0.058%	$12.8M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.565	−0.040%	$18.3M	$41.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.614	+0.012%	$398K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0107%	4h	93.571	−0.034%	$5.1M	$29.7M	30x	as long as short
Kalshi KXHYPEPERP	+0.0122%	8h	93.675	+0.077%	$1.9M	$5.3M	2.3x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0177%	1h	93.717	+0.122%	$7.4M	$4.6M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.680	+0.082%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0246%	1h	93.614	+0.012%	$78K	$158K	15x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.910	+0.328%	$31K	$291K	12x	as long as short
HTX HYPE-USDT	+0.0300%	4h	93.800	+0.210%	$1.5M	$7.6M	75x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.599	−0.004%	$17.0M	$12.4M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0346% / S −0.0171%	1h	93.654	+0.055%	$1.5M	—	100x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.648	+0.048%	$2.8M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0572%	1h	93.724	+0.130%	$19.2M	$26.0M	50x	as long as short