Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0180%/8h= −19.7% APRpaid last 24h −0.046%

Price spread now: Hotstuff against KuCoin+0.038%7-day average — · you sell dearer than you buy

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

Long on KuCoin Short on Hotstuff

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 pays, funding is against you. Hotstuff is 0.038% dearer against KuCoin than usual: you sell high and buy low (spread +0.038% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 17 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin HYPEUSDTM	92.856	0.0100	pay 0.0050% / 4h	3h 58m	$46.1M	$18.4M	75x
Short	Hotstuff HYPE-PERP	92.891	−0.0080	pay 0.0010% / 1h	58m 48s	$3K	$331	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now +0.038%Rate

Funding earned: −$37.8
Price spread: +0.038% → 0.000%: $3.77
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$51.03
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 10 min ago; Hotstuff: no order-book sample. 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 KuCoin live order book, 10 min ago	0.49 bp	9.7 bp −$10	14.6 bp −$146	doesn't fit	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

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
Arcus HYPE-USD	−0.0948%	1h	92.862	+0.006%	$1.1M	$3.9M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0440%	1h	92.759	−0.105%	$193K	$227K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0286%	1h	92.840	−0.017%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERPshort	−0.0080%	1h	92.891	+0.038%	$3K	$331	25x
Orderly PERP_HYPE_USDC	−0.0063%	4h	92.856	0.000%	$157K	$653K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.865	+0.010%	$127K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.889	+0.035%	$22K	$302K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.903	+0.051%	$62K	—	150x	as long as short
Bullet HYPE-USD	+0.0007%	1h	92.856	0.000%	$111K	$579K	20x	as long as short
Phemex HYPEUSDT	+0.0029%	8h	92.858	+0.002%	$12.5M	$2.7M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX HYPE-USDT	+0.0036%	4h	92.829	−0.029%	—	$53.6M	—	as long as short
Phoenix HYPE	+0.0043%	1h	92.952	+0.103%	$210K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0044%	8h	92.810	−0.050%	$316.4M	$281.2M	75x	as long as short
Aster HYPEUSDT	+0.0071%	4h	92.835	−0.022%	$8.7M	$36.2M	300x	as long as short
Bitget HYPEUSDT	+0.0086%	4h	92.809	−0.051%	$224.6M	$98.7M	75x	as long as short
edgeX HYPEUSDC	+0.0093%	4h	92.871	+0.016%	$4.9M	$29.6M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0096%	8h	92.896	+0.043%	$339K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.836	−0.022%	$16.1M	$62.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.847	−0.010%	$3.1M	$11.6M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.882	+0.028%	$69K	$1.1M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0099%	8h	92.824	−0.034%	$113.9M	$303.6M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.880	+0.026%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.892	+0.039%	$7.5M	$45.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.877	+0.022%	$2.02B	$663.9M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.935	+0.085%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.824	−0.034%	$373.0M	$902.8M	75x	as long as short
Ondo Perps HYPE-USD.P	+0.0100%	1h	92.850	−0.006%	$698K	$1.1M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.800	−0.060%	$202K	$13K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	92.812	−0.047%	$44.4M	$53.4M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.830	−0.028%	$88.1M	$79.7M	100x	as long as short
KuCoin HYPEUSDTMlong	+0.0100%	4h	92.856	long leg	$46.1M	$18.4M	75x
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.838	−0.019%	$7.3M	$11.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.859	+0.003%	$28.5M	$57.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.903	+0.051%	$7.5M	$46.3M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.856	0.000%	$350K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.890	+0.037%	$667K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.941	+0.091%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.926	+0.075%	$469K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.877	+0.023%	$79K	$168K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.850	−0.006%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.857	+0.001%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.866	+0.011%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.034	+0.192%	$1.4M	$6.3M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.799	−0.061%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.885	+0.031%	$393K	$164K	20x	as long as short
01 Exchange HYPEUSD	+0.0136%	1h	92.909	+0.057%	$87K	$362K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	92.950	+0.101%	$4.7M	$5.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0197%	1h	92.919	+0.068%	$20.6M	$30.4M	50x	as long as short
Kalshi KXHYPEPERP	+0.0224%	8h	92.935	+0.085%	$1.8M	$5.4M	2.3x	as long as short
Injective HYPE/USDC PERP	+0.0242%	1h	92.870	+0.015%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0263%	1h	92.865	+0.009%	$79K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0154%	1h	92.881	+0.027%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.887	+0.033%	$16.8M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0396%	1h	92.952	+0.103%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0598%	1h	92.950	+0.101%	$3.2M	$6.4M	20x	as long as short