Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.048%

Price spread now: KuCoin against HTX−0.176%7-day average −0.053% · you buy dearer than you sell

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$410.406% of the position

Long on HTX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.056%−$6 on $10k

Price spread, last 4 days (all we have)+0.306%+$31 · spread now −0.176%, 7d avg −0.053%

Together, before fees+0.250%+$25 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: KuCoin is 0.123% cheaper against HTX than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of −0.053%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX HYPE-USDT	92.956	0.0100	pay 0.0050% / 4h	3h 57m	$1.4M	$6.3M	75x
Short	KuCoin HYPEUSDTM	92.792	0.0100	get 0.0050% / 4h	3h 57m	$46.1M	$18.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against HTX. 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 HTXbpFee KuCoinbpOrdersPrice spread, now −0.176%Rate

Funding earned: $0
Price spread: −0.176% → −0.053%: −$12.33
Slippage, 4 orders: −$16.6
Fee HTX: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$52.93
Costs to cover: 0.406%
Break-even: never at this rate

Slippage from HTX: live order book, 1 min ago; KuCoin: live order book, 11 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 HTX live order book, 1 min ago	2.10 bp	8.6 bp −$9	13.4 bp −$134	53.0 bp −$5,300	doesn't fit
Sell KuCoin live order book, 11 min ago	0.49 bp	10.6 bp −$11	14.3 bp −$143	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
Hibachi HYPE/USDT-P	−0.0472%	1h	92.744	−0.228%	$193K	$228K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0288%	1h	92.824	−0.142%	$22K	$21K	10x	as long as short
Arcus HYPE-USD	−0.0194%	1h	92.736	−0.237%	$1.1M	$3.9M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.836	−0.129%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0077%	1h	92.815	−0.152%	$111K	$579K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0063%	4h	92.801	−0.167%	$157K	$653K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.772	−0.198%	$127K	$29K	5x	as long as short
Popdex HYPEUSDT	0.0000%	1h	92.826	−0.140%	$70K	$1.1M	50x	as long as short
Perpl HYPE	0.0000%	43m	92.832	−0.133%	$22K	$302K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.837	−0.128%	$62K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex HYPEUSDT	+0.0036%	8h	92.839	−0.126%	$12.5M	$2.7M	50x	as long as short
Phoenix HYPE	+0.0043%	1h	92.952	−0.004%	$210K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0044%	8h	92.740	−0.232%	$316.0M	$281.7M	75x	as long as short
Gate HYPE_USDT	+0.0046%	4h	92.799	−0.169%	$44.4M	$53.4M	75x	as long as short
01 Exchange HYPEUSD	+0.0048%	1h	92.856	−0.108%	$87K	$362K	20x	as long as short
Aster HYPEUSDT	+0.0070%	4h	92.808	−0.160%	$8.7M	$36.2M	300x	as long as short
BingX HYPE-USDT	+0.0074%	4h	92.753	−0.218%	—	$53.8M	—	as long as short
Bitget HYPEUSDT	+0.0084%	4h	92.745	−0.227%	$224.5M	$98.7M	75x	as long as short
edgeX HYPEUSDC	+0.0093%	4h	92.871	−0.091%	$4.9M	$29.6M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0096%	8h	92.790	−0.178%	$339K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.777	−0.193%	$16.0M	$62.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.772	−0.198%	$3.1M	$11.6M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0099%	8h	92.768	−0.202%	$113.8M	$303.3M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.820	−0.146%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.835	−0.130%	$7.4M	$45.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.839	−0.126%	$2.02B	$664.0M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.798	−0.170%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.775	−0.195%	$372.8M	$902.2M	75x	as long as short
Ondo Perps HYPE-USD.P	+0.0100%	1h	92.720	−0.254%	$698K	$1.1M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.800	−0.168%	$202K	$13K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.767	−0.203%	$88.0M	$79.7M	100x	as long as short
KuCoin HYPEUSDTMshort	+0.0100%	4h	92.792	−0.176%	$46.1M	$18.4M	75x
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.827	−0.139%	$7.3M	$11.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.859	−0.105%	$28.5M	$57.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.903	−0.057%	$7.5M	$46.3M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.856	−0.108%	$350K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.886	−0.075%	$667K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.883	−0.078%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.856	−0.108%	$468K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.806	−0.161%	$79K	$168K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.799	−0.169%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.803	−0.165%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.819	−0.147%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDTlong	+0.0100%	4h	92.956	long leg	$1.4M	$6.3M	75x
Extended HYPE-USD	+0.0104%	1h	92.793	−0.175%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.829	−0.136%	$392K	$164K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	92.950	−0.006%	$4.7M	$5.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0197%	1h	92.892	−0.069%	$20.6M	$30.4M	50x	as long as short
Kalshi KXHYPEPERP	+0.0224%	8h	92.878	−0.084%	$1.8M	$5.4M	2.3x	as long as short
Injective HYPE/USDC PERP	+0.0242%	1h	92.870	−0.093%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0263%	1h	92.815	−0.152%	$79K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0154%	1h	92.826	−0.140%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.887	−0.074%	$16.8M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0385%	1h	92.909	−0.051%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0598%	1h	92.891	−0.069%	$3.2M	$6.4M	20x	as long as short