Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0212%/8h= −23.2% APRpaid last 24h −0.094%

Price spread now: Arcus against KuCoin−0.097%7-day average −0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$260.255% of the position

Long on KuCoin Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.127%−$13 on $10k

Price spread, last 7 days+0.062%+$6 · spread now −0.097%, 7d avg −0.022%

Together, before fees−0.065%−$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Arcus is 0.075% cheaper against KuCoin than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.022%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin HYPEUSDTM	95.106	0.0100	pay 0.0050% / 4h	3h 12m	$47.4M	$18.5M	75x
Short	Arcus HYPE-USD	95.014	−0.0112	pay 0.0014% / 1h	12m 08s	$1.0M	$3.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus 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 ArcusbpOrdersPrice spread, now −0.097%Rate

Funding earned: −$44.5
Price spread: −0.097% → −0.022%: −$7.52
Slippage, 4 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$77.52
Costs to cover: 0.255%
Break-even: never at this rate

Slippage from KuCoin: live order book, 7 min ago; Arcus: live order book, 2 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, 7 min ago	0.74 bp	7.8 bp −$8	12.4 bp −$124	doesn't fit	doesn't fit
Sell Arcus live order book, 2 min ago	0.53 bp	3.2 bp −$3	7.6 bp −$76	27.5 bp −$2,753	doesn't fit

HYPE on 54 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	−0.0832%	1h	95.006	−0.105%	$211K	$265K	7x	as long as short
Bluefin HYPE-PERP	−0.0541%	1h	95.066	−0.042%	$79K	$148K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0239%	1h	95.075	−0.033%	$22K	$19K	10x	as long as short
Phemex HYPEUSDT	−0.0219%	8h	95.057	−0.052%	$13.0M	$2.8M	50x	as long as short
Bullet HYPE-USD	−0.0201%	1h	95.114	+0.008%	$113K	$576K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0141%	1h	95.000	−0.111%	$705K	$1.3M	10x	as long as short
dYdX HYPE-USD	−0.0125%	1h	95.078	−0.029%	$130K	$93K	5x	as long as short
01 Exchange HYPEUSD	−0.0112%	1h	95.083	−0.024%	$90K	$353K	20x	as long as short
Arcus HYPE-USDshort	−0.0112%	1h	95.014	−0.097%	$1.0M	$3.2M	10x
Hotstuff HYPE-PERP	−0.0080%	1h	95.031	−0.079%	$3K	$331	25x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_HYPEUSD	−0.0047%	1h	95.096	−0.010%	$18.9M	$35.7M	50x	as long as short
Bybit HYPEUSDT	−0.0014%	8h	95.100	−0.006%	$319.5M	$286.3M	75x	as long as short
Gate HYPE_USDT	−0.0008%	4h	95.084	−0.023%	$52.8M	$56.7M	75x	as long as short
Orderly PERP_HYPE_USDC	−0.0004%	4h	95.091	−0.016%	$147K	$670K	20x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	95.122	+0.017%	$1.9M	$5.5M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	95.121	+0.016%	$19K	$273K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	95.128	+0.023%	$86K	—	150x	as long as short
Phoenix HYPE	+0.0008%	1h	95.142	+0.038%	$212K	$1.2M	10x	as long as short
BingX HYPE-USDT	+0.0010%	4h	95.100	−0.006%	—	$52.5M	—	as long as short
Vest HYPE-PERP	+0.0014%	1h	95.132	+0.028%	—	$126K	5x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0016%	1h	95.030	−0.080%	$4.7M	$5.8M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0035%	8h	95.100	−0.006%	$118.6M	$323.3M	50x	as long as short
Bitget HYPEUSDT	+0.0040%	4h	95.099	−0.007%	$228.5M	$94.5M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0047%	8h	95.020	−0.090%	$340K	$38K	20x	as long as short
Backpack HYPE_USDC_PERP	+0.0058%	1h	95.074	−0.034%	$7.6M	$10.1M	20x	as long as short
Aster HYPEUSDT	+0.0091%	4h	95.088	−0.019%	$9.0M	$36.5M	300x	as long as short
edgeX HYPEUSDC	+0.0094%	4h	95.053	−0.056%	$5.1M	$31.1M	30x	as long as short
Lighter HYPE	+0.0096%	1h	95.102	−0.004%	$16.3M	$63.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	95.108	+0.002%	$3.2M	$10.4M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	95.065	−0.043%	$150K	$1.2M	50x	as long as short
SoDEX HYPE-USD	+0.0098%	1h	95.113	+0.007%	$2.1M	$1.9M	10x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	95.040	−0.069%	$40K	$1.5M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	95.066	−0.042%	$4.8M	$53.3M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	95.239	+0.140%	$2.10B	$680.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	95.052	−0.057%	$10.3M	$14.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	95.105	−0.001%	$382.9M	$912.8M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	95.126	+0.022%	$222K	$14K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	95.115	+0.009%	$98.2M	$89.1M	100x	as long as short
KuCoin HYPEUSDTMlong	+0.0100%	4h	95.106	long leg	$47.4M	$18.5M	75x
Variational Omni HYPE	+0.0100%	8h	95.091	−0.016%	$29.9M	$56.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	95.088	−0.019%	$7.7M	$44.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	95.029	−0.081%	$348K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	95.098	−0.008%	$692K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	95.080	−0.027%	$500K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	95.062	−0.046%	$32K	$1.5M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.252	+0.154%	$1.4M	$6.7M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	95.078	−0.030%	$18.3M	$42.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	95.061	−0.047%	$402K	$136K	20x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	95.084	−0.023%	$3.1M	$6.3M	20x	as long as short
Injective HYPE/USDC PERP	+0.0153%	1h	95.380	+0.288%	$31K	$340K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0170%	1h	95.194	+0.093%	$7.5M	$4.4M	50x	as long as short
Reya HYPERUSDPERP	+0.0271%	1h	95.013	−0.098%	$85K	$93K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0155%	1h	95.156	+0.053%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	95.015	−0.096%	$17.2M	$12.3M	75x	as long as short