Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0180%/8h= +19.7% APRpaid last 24h +0.046%

Price spread now: KuCoin against Hotstuff−0.018%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 KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 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: +$5 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	95.099	−0.0080	get 0.0010% / 1h	15m 33s	$3K	$331	25x
Short	KuCoin HYPEUSDTM	95.082	0.0100	get 0.0050% / 4h	3h 15m	$47.4M	$18.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.018%Rate

Funding earned: $37.8
Price spread: −0.018% → 0.000%: −$1.79
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $19.01
Costs to cover: 0.170%
Break-even: 3.5 days

Slippage unknown: Hotstuff: no order-book sample; KuCoin: live order book, 3 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 KuCoin live order book, 3 min ago	0.74 bp	11.3 bp −$11	21.0 bp −$210	doesn't fit	doesn't fit

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	−0.0808%	1h	95.071	−0.030%	$212K	$265K	7x	as long as short
Bluefin HYPE-PERP	−0.0538%	1h	95.082	−0.018%	$79K	$148K	20x	as long as short
Phemex HYPEUSDT	−0.0274%	8h	95.037	−0.065%	$13.0M	$2.8M	50x	as long as short
Aftermath Perps HYPEUSD	−0.0262%	1h	94.997	−0.107%	$22K	$19K	10x	as long as short
Bullet HYPE-USD	−0.0202%	1h	95.129	+0.032%	$113K	$577K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0134%	1h	95.040	−0.062%	$705K	$1.3M	10x	as long as short
dYdX HYPE-USD	−0.0131%	1h	95.078	−0.022%	$130K	$93K	5x	as long as short
01 Exchange HYPEUSD	−0.0112%	1h	95.099	0.000%	$90K	$356K	20x	as long as short
Arcus HYPE-USD	−0.0112%	1h	95.053	−0.048%	$1.0M	$3.2M	10x	as long as short
Hotstuff HYPE-PERPlong	−0.0080%	1h	95.099	long leg	$3K	$331	25x

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_HYPEUSD	−0.0047%	1h	95.108	+0.009%	$18.9M	$35.7M	50x	as long as short
BingX HYPE-USDT	−0.0018%	4h	95.074	−0.026%	—	$52.8M	—	as long as short
Bybit HYPEUSDT	−0.0016%	8h	95.050	−0.052%	$319.4M	$288.9M	75x	as long as short
Gate HYPE_USDT	−0.0008%	4h	95.059	−0.042%	$52.6M	$56.3M	75x	as long as short
Orderly PERP_HYPE_USDC	−0.0006%	4h	95.095	−0.004%	$148K	$670K	20x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	95.192	+0.098%	$1.9M	$5.5M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	95.131	+0.033%	$19K	$274K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	95.158	+0.062%	$86K	—	150x	as long as short
Phoenix HYPE	+0.0008%	1h	95.051	−0.050%	$212K	$1.2M	10x	as long as short
Derive HYPE-PERP	+0.0010%	1h	94.160	−0.987%	$16.3M	$7.5M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0016%	1h	95.150	+0.054%	$4.7M	$5.8M	50x	as long as short
Vest HYPE-PERP	+0.0032%	1h	95.214	+0.121%	—	$126K	5x	as long as short
OKX HYPE-USDT-SWAP	+0.0037%	8h	95.053	−0.048%	$118.5M	$323.9M	50x	as long as short
Bitget HYPEUSDT	+0.0040%	4h	95.048	−0.054%	$228.1M	$95.0M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0048%	8h	95.126	+0.028%	$340K	$38K	20x	as long as short
Backpack HYPE_USDC_PERP	+0.0059%	1h	95.058	−0.043%	$7.6M	$10.1M	20x	as long as short
SoDEX HYPE-USD	+0.0094%	1h	95.112	+0.014%	$2.1M	$1.9M	10x	as long as short
Lighter HYPE	+0.0096%	1h	95.106	+0.007%	$16.3M	$63.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	95.083	−0.017%	$3.2M	$10.4M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	95.057	−0.044%	$150K	$1.2M	50x	as long as short
edgeX HYPEUSDC	+0.0096%	4h	95.126	+0.028%	$5.1M	$31.1M	30x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	95.080	−0.020%	$40K	$1.5M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	95.053	−0.048%	$6.6M	$51.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	95.219	+0.126%	$2.10B	$677.5M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	95.069	−0.032%	$8.9M	$36.8M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	95.110	+0.011%	$10.3M	$14.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	95.061	−0.040%	$382.7M	$916.3M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	95.126	+0.029%	$222K	$14K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	95.099	0.000%	$98.0M	$88.9M	100x	as long as short
KuCoin HYPEUSDTMshort	+0.0100%	4h	95.082	−0.018%	$47.4M	$18.6M	75x
Variational Omni HYPE	+0.0100%	8h	95.091	−0.008%	$29.9M	$56.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	95.104	+0.005%	$7.7M	$44.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	95.124	+0.026%	$348K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	95.146	+0.049%	$692K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	95.120	+0.022%	$500K	$2.7M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	95.054	−0.047%	$33K	$1.5M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.262	+0.171%	$1.4M	$6.7M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	95.030	−0.072%	$18.3M	$42.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	95.115	+0.017%	$402K	$148K	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0118%	1h	95.189	+0.095%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	95.088	−0.011%	$3.1M	$6.3M	20x	as long as short
Injective HYPE/USDC PERP	+0.0153%	1h	95.380	+0.295%	$31K	$340K	12x	as long as short
Reya HYPERUSDPERP	+0.0271%	1h	95.093	−0.007%	$83K	$97K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0155%	1h	95.204	+0.110%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	95.158	+0.062%	$17.2M	$12.4M	75x	as long as short