Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0034%/8h= +3.7% APRpaid last 24h +0.070%

Price spread now: RISEx against Katana Perps+0.065%7-day average +0.046% · you sell dearer than you buy

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

Long on Katana Perps Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.157%+$16 on $10k

Price spread, last 7 days−0.037%−$4 · spread now +0.065%, 7d avg +0.046%

Together, before fees+0.119%+$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.046%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps HYPE-USD	95.200	0.0099	pay 0.0099% / 8h	5h 54m	$39K	$1.5M	10x
Short	RISEx HYPE/USDC	95.261	0.0133	get 0.0017% / 1h	54m 20s	$3.2M	$5.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against Katana Perps. 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 Katana PerpsbpFee RISExbpOrdersPrice spread, now +0.065%Rate

Funding earned: $7.17
Price spread: +0.065% → +0.046%: $1.88
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$0.75
Costs to cover: 0.098%
Break-even: 7.7 days

Slippage unknown: Katana Perps: no order-book sample; RISEx: 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 Katana Perps no order-book sample	—	—	—	—	—
Sell RISEx live order book, 3 min ago	0.58 bp	3.6 bp −$4	5.7 bp −$57	doesn't fit	doesn't fit

Katana Perps: 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 54 exchanges

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	−0.1272%	1h	95.275	+0.079%	$213K	$261K	7x	as long as short
Phemex HYPEUSDT	−0.0283%	8h	95.208	+0.008%	$13.0M	$2.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	−0.0251%	1h	95.218	+0.018%	$18.5M	$35.2M	50x	as long as short
Bullet HYPE-USD	−0.0146%	1h	95.222	+0.023%	$114K	$581K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0135%	1h	95.258	+0.061%	$22K	$17K	10x	as long as short
Arcus HYPE-USD	−0.0130%	1h	95.220	+0.021%	$1.1M	$2.4M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0124%	1h	95.160	−0.042%	$690K	$1.3M	10x	as long as short
Lighter HYPE	−0.0096%	1h	95.200	0.000%	$16.3M	$57.5M	20x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	95.218	+0.019%	$92K	$337K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	95.191	−0.009%	$3K	$331	25x	as long as short

Show all 54 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate HYPE_USDT	−0.0072%	4h	95.212	+0.013%	$54.7M	$53.1M	75x	as long as short
Coinbase International HYPE-PERP-INTX	−0.0056%	1h	95.250	+0.053%	$4.7M	$5.6M	50x	as long as short
Orderly PERP_HYPE_USDC	−0.0040%	4h	95.180	−0.021%	$148K	$643K	20x	as long as short
Aster HYPEUSDT	−0.0028%	4h	95.225	+0.026%	$9.0M	$32.9M	300x	as long as short
OKX HYPE-USDT-SWAP	−0.0011%	8h	95.195	−0.005%	$119.3M	$303.3M	50x	as long as short
dYdX HYPE-USD	0.0000%	1h	95.259	+0.062%	$129K	$94K	5x	as long as short
Perpl HYPE	0.0000%	43m	95.197	−0.003%	$24K	$251K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	95.248	+0.050%	$100K	—	150x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0012%	1h	95.297	+0.102%	$7.5M	$4.3M	50x	as long as short
Phoenix HYPE	+0.0017%	1h	95.333	+0.140%	$201K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0020%	4h	95.216	+0.017%	$228.8M	$86.9M	75x	as long as short
Popdex HYPEUSDT	+0.0024%	1h	95.218	+0.019%	$274K	$1.0M	50x	as long as short
Bybit HYPEUSDT	+0.0032%	8h	95.212	+0.013%	$320.8M	$266.6M	75x	as long as short
SoDEX HYPE-USD	+0.0049%	1h	95.202	+0.002%	$2.1M	$373K	10x	as long as short
Bulk HYPE-USD	+0.0074%	1h	95.269	+0.072%	$232K	$12K	10x	as long as short
Paradex HYPE-USD-PERP	+0.0075%	8h	95.235	+0.037%	$340K	$35K	20x	as long as short
edgeX HYPEUSDC	+0.0092%	4h	95.253	+0.055%	$5.1M	$29.1M	30x	as long as short
Vest HYPE-PERP	+0.0093%	1h	95.297	+0.102%	—	$80K	5x	as long as short
Bluefin HYPE-PERP	+0.0094%	1h	95.212	+0.013%	$79K	$136K	20x	as long as short
MEXC HYPE_USDT	+0.0094%	4h	95.205	+0.005%	$90.7M	$83.0M	100x	as long as short
Binance HYPEUSDT	+0.0096%	4h	95.208	+0.008%	$382.8M	$856.2M	75x	as long as short
Lighter RH HYPE	+0.0096%	1h	95.244	+0.046%	$3.3M	$10.0M	20x	as long as short
Katana Perps HYPE-USDlong	+0.0099%	8h	95.200	long leg	$39K	$1.5M	10x
Nado HYPE-PERP	+0.0100%	1h	95.215	+0.016%	$7.3M	$51.9M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	95.255	+0.058%	$10.3M	$13.3M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	95.230	+0.032%	$48.1M	$17.6M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	95.224	+0.025%	—	$49.4M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	95.305	+0.110%	$7.9M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	95.251	+0.053%	$30.0M	$53.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	95.301	+0.106%	$7.7M	$39.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	95.191	−0.009%	$347K	$883K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	95.269	+0.072%	$693K	$2.8M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	95.252	+0.055%	$504K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	95.291	+0.096%	$33K	$1.4M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.326	+0.132%	$1.4M	$5.4M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	95.184	−0.017%	$18.4M	$39.8M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	95.219	+0.020%	$403K	$130K	20x	as long as short
Hyperliquid HYPE	+0.0114%	1h	95.334	+0.141%	$2.11B	$645.2M	10x	as long as short
Kalshi KXHYPEPERP	+0.0123%	8h	95.315	+0.121%	$1.8M	$5.1M	2.3x	as long as short
RISEx HYPE/USDCshort	+0.0133%	1h	95.261	+0.065%	$3.2M	$5.5M	20x
Reya HYPERUSDPERP	+0.0270%	1h	95.188	−0.013%	$85K	$100K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0155%	1h	95.293	+0.097%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0338%	4h	95.266	+0.069%	$17.3M	$11.5M	75x	as long as short
Injective HYPE/USDC PERP	+0.0969%	1h	95.400	+0.210%	$31K	$334K	12x	as long as short