Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.008%

Price spread now: Aevo against KuCoin+0.023%7-day average +0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$500.499% of the position

Long on KuCoin Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.022%+$2 on $10k

Price spread, last 3 days (all we have)−0.097%−$10 · spread now +0.023%, 7d avg +0.010%

Together, before fees−0.075%−$7 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin HYPEUSDTM	93.722	0.0100	pay 0.0050% / 4h	2h 23m	$46.5M	$18.7M	75x
Short	Aevo HYPE-PERP	93.744	0.0104	get 0.0013% / 1h	23m 05s	$399K	$318K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against KuCoin. 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 KuCoinbpFee AevobpOrdersPrice spread, now +0.023%Rate

Funding earned: $0.84
Price spread: +0.023% → +0.010%: $1.28
Slippage, 4 orders: −$21.88
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$47.75
Costs to cover: 0.499%
Break-even: 404.9 days

Slippage from KuCoin: live order book, 6 min ago; Aevo: live order book, 1 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 KuCoin live order book, 6 min ago	0.91 bp	9.9 bp −$10	14.4 bp −$144	doesn't fit	doesn't fit
Sell Aevo live order book, 1 min ago	4.37 bp	13.2 bp −$13	17.1 bp −$171	22.6 bp −$2,259	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	−0.1008%	1h	93.638	−0.090%	$198K	$233K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0296%	1h	93.649	−0.077%	$22K	$22K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0237%	1h	93.630	−0.098%	$702K	$934K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.716	−0.006%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0064%	1h	93.683	−0.042%	$90K	$348K	20x	as long as short
Bullet HYPE-USD	−0.0016%	1h	93.717	−0.005%	$111K	$583K	20x	as long as short
Derive HYPE-PERP	−0.0009%	1h	93.675	−0.050%	$16.5M	$7.0M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.721	−0.001%	$128K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.703	−0.020%	$23K	$337K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.746	+0.025%	$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	+0.0029%	4h	93.725	+0.004%	$9.0M	$35.8M	300x	as long as short
Gate HYPE_USDT	+0.0034%	4h	93.685	−0.039%	$44.1M	$57.1M	75x	as long as short
Bybit HYPEUSDT	+0.0037%	8h	93.680	−0.045%	$326.2M	$287.1M	75x	as long as short
Orderly PERP_HYPE_USDC	+0.0064%	4h	93.700	−0.023%	$175K	$536K	20x	as long as short
Popdex HYPEUSDT	+0.0064%	1h	93.649	−0.078%	$57K	$1.2M	50x	as long as short
Phoenix HYPE	+0.0068%	1h	93.742	+0.021%	$216K	$1.2M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.741	+0.020%	$18.6M	$59.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.751	+0.031%	$3.1M	$12.4M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0100%	8h	93.690	−0.035%	$340K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.710	−0.013%	$40K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.674	−0.051%	$6.0M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.785	+0.067%	$2.04B	$669.8M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.707	−0.016%	$10.0M	$14.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.685	−0.040%	$386.5M	$888.4M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.664	−0.062%	$115.0M	$315.9M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.642	−0.085%	$1.2M	$4.0M	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.724	+0.002%	$93.8M	$82.3M	100x	as long as short
KuCoin HYPEUSDTMlong	+0.0100%	4h	93.722	long leg	$46.5M	$18.7M	75x
Bitget HYPEUSDT	+0.0100%	4h	93.692	−0.032%	$227.5M	$102.3M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.683	−0.042%	—	$54.2M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.712	−0.011%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.652	−0.075%	$29.0M	$50.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.613	−0.116%	$7.5M	$45.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.545	−0.189%	$406K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.752	+0.032%	$678K	$2.4M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.732	+0.010%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.718	−0.004%	$495K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.733	+0.012%	$76K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.698	−0.026%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.724	+0.002%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.676	−0.049%	$12.8M	$2.6M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.556	−0.177%	$204K	$12K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.718	−0.005%	$18.3M	$41.2M	50x	as long as short
Aevo HYPE-PERPshort	+0.0104%	1h	93.744	+0.023%	$399K	$318K	20x
edgeX HYPEUSDC	+0.0105%	4h	93.554	−0.179%	$5.1M	$29.5M	30x	as long as short
Kalshi KXHYPEPERP	+0.0132%	8h	93.775	+0.057%	$1.9M	$5.3M	2.3x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0145%	1h	93.826	+0.111%	$7.4M	$4.6M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.760	+0.041%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0245%	1h	93.678	−0.047%	$78K	$158K	15x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.610	−0.120%	$30K	$291K	12x	as long as short
HTX HYPE-USDT	+0.0310%	4h	93.864	+0.152%	$1.5M	$7.6M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0164%	1h	93.747	+0.027%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.715	−0.007%	$17.1M	$12.5M	75x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.719	−0.003%	$2.8M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0571%	1h	93.849	+0.136%	$19.2M	$26.0M	50x	as long as short