Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.007%

Price spread now: Lighter RH against KuCoin+0.013%7-day average −0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$230.228% of the position

Long on KuCoin Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.054%−$5 on $10k

Price spread, last 7 days−0.055%−$6 · spread now +0.013%, 7d avg −0.005%

Together, before fees−0.109%+ Points / potential airdropLighter RH: Points live · farm board−$11 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin HYPEUSDTM	93.647	0.0100	pay 0.0050% / 4h	1h 54m	$46.2M	$18.9M	75x
Short	Lighter RH HYPE	93.659	0.0096	get 0.0012% / 1h	54m 41s	$3.1M	$11.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now +0.013%Rate

Funding earned: −$0.84
Price spread: +0.013% → −0.005%: $1.78
Slippage, 4 orders: −$10.78
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$21.84
Costs to cover: 0.228%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; Lighter RH: live order book, 4 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, 4 min ago	1.17 bp	11.8 bp −$12	17.8 bp −$178	doesn't fit	doesn't fit
Sell Lighter RH live order book, 4 min ago	0.53 bp	1.5 bp −$1	4.5 bp −$45	26.4 bp −$2,635	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	−0.1224%	1h	93.798	+0.162%	$199K	$243K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0267%	1h	94.002	+0.379%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0162%	1h	93.650	+0.003%	$707K	$1.2M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.992	+0.368%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0072%	1h	93.770	+0.131%	$86K	$372K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0017%	4h	93.724	+0.082%	$149K	$681K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.724	+0.082%	$129K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.760	+0.120%	$22K	$285K	10x	as long as short
Bluefin HYPE-PERP	+0.0002%	1h	93.745	+0.105%	$79K	$166K	20x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.781	+0.143%	$63K	—	150x	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	+0.0012%	4h	93.708	+0.065%	—	$53.8M	—	as long as short
Bybit HYPEUSDT	+0.0016%	8h	93.634	−0.014%	$316.4M	$287.5M	75x	as long as short
Phoenix HYPE	+0.0026%	1h	93.872	+0.240%	$209K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0040%	4h	93.665	+0.019%	$225.7M	$99.5M	75x	as long as short
Phemex HYPEUSDT	+0.0063%	8h	93.789	+0.152%	$12.8M	$2.8M	50x	as long as short
edgeX HYPEUSDC	+0.0080%	4h	93.922	+0.294%	$5.0M	$30.4M	30x	as long as short
Arcus HYPE-USD	+0.0084%	1h	93.674	+0.029%	$1.0M	$4.0M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0088%	8h	93.680	+0.035%	$340K	$158K	20x	as long as short
ApeX Omni HYPEUSDT	+0.0089%	1h	93.802	+0.166%	$348K	$1.0M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.653	+0.006%	$16.1M	$63.4M	20x	as long as short
Lighter RH HYPEshort	+0.0096%	1h	93.659	+0.013%	$3.1M	$11.1M	20x
Popdex HYPEUSDT	+0.0096%	1h	93.750	+0.110%	$78K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.750	+0.110%	$20K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.782	+0.145%	$6.4M	$50.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.783	+0.145%	$2.05B	$680.4M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.677	+0.032%	$8.9M	$37.3M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.676	+0.031%	$10.1M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.655	+0.008%	$375.5M	$929.4M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.654	+0.007%	$115.7M	$316.2M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.213	+0.605%	$217K	$15K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	93.684	+0.040%	$48.3M	$54.8M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.647	0.000%	$88.9M	$83.1M	100x	as long as short
KuCoin HYPEUSDTMlong	+0.0100%	4h	93.647	long leg	$46.2M	$18.9M	75x
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.765	+0.126%	$7.2M	$10.8M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.759	+0.119%	$28.7M	$56.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.839	+0.205%	$7.7M	$47.9M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.836	+0.202%	$680K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.835	+0.201%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.784	+0.146%	$475K	$2.8M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	93.804	+0.168%	$112K	$581K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.731	+0.089%	$16.4M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.861	+0.229%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.752	+0.112%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.961	+0.335%	$1.4M	$6.7M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.676	+0.031%	$18.3M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.755	+0.116%	$396K	$159K	20x	as long as short
Kalshi KXHYPEPERP	+0.0109%	8h	93.838	+0.204%	$1.8M	$5.6M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	93.790	+0.153%	$4.7M	$6.1M	50x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	93.740	+0.099%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0271%	1h	93.738	+0.097%	$77K	$130K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0294%	1h	93.843	+0.209%	$7.4M	$4.2M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0333% / S −0.0154%	1h	93.784	+0.147%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.752	+0.112%	$17.0M	$12.2M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0414%	1h	93.828	+0.194%	$20.9M	$29.6M	50x	as long as short
RISEx HYPE/USDC	+0.0559%	1h	93.798	+0.161%	$3.2M	$6.4M	20x	as long as short