Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.007%

Price spread now: Nado against KuCoin−0.008%7-day average +0.002% · 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−$30as in the Price arb table

costs, in and out, $10k−$290.290% of the position

Long on KuCoin Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.009%−$1 on $10k

Price spread, last 7 days+0.002%$0 · spread now −0.008%, 7d avg +0.002%

Together, before fees−0.007%+ Points / potential airdropNado: Active · farm board−$1 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin HYPEUSDTM	92.299	0.0100	pay 0.0050% / 4h	41m 25s	$45.8M	$18.3M	75x
Short	Nado HYPE-PERP	92.291	0.0100	get 0.0012% / 1h	41m 25s	$6.1M	$43.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.008%Rate

Funding earned: $0
Price spread: −0.008% → +0.002%: −$0.98
Slippage, 4 orders: −$10.04
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$30.02
Costs to cover: 0.290%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; Nado: live order book, 3 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, 3 min ago	1.19 bp	10.6 bp −$11	14.7 bp −$147	doesn't fit	doesn't fit
Sell Nado live order book, 3 min ago	0.05 bp	3.6 bp −$4	5.8 bp −$58	27.6 bp −$2,761	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
Arcus HYPE-USD	−0.0948%	1h	92.226	−0.079%	$1.2M	$3.8M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0520%	1h	92.314	+0.017%	$193K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0170%	1h	92.291	−0.008%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0120%	1h	92.308	+0.010%	$85K	$355K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.305	+0.007%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0069%	4h	92.270	−0.031%	$157K	$663K	20x	as long as short
Bullet HYPE-USD	−0.0062%	1h	92.271	−0.031%	$110K	$579K	20x	as long as short
Aster HYPEUSDT	−0.0007%	4h	92.294	−0.005%	$8.7M	$36.4M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.312	+0.015%	$127K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.261	−0.041%	$22K	$310K	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.296	−0.003%	$61K	—	150x	as long as short
Ondo Perps HYPE-USD.P	+0.0020%	1h	92.240	−0.064%	$695K	$1.1M	10x	as long as short
BingX HYPE-USDT	+0.0030%	4h	92.283	−0.017%	—	$53.3M	—	as long as short
Phoenix HYPE	+0.0043%	1h	92.246	−0.057%	$209K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0052%	8h	92.300	+0.001%	$315.6M	$281.2M	75x	as long as short
Gate HYPE_USDT	+0.0058%	4h	92.282	−0.018%	$44.3M	$54.9M	75x	as long as short
Derive HYPE-PERP	+0.0070%	1h	92.270	−0.032%	$16.0M	$7.5M	10x	as long as short
Phemex HYPEUSDT	+0.0074%	8h	92.240	−0.064%	$12.5M	$2.7M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0077%	8h	92.310	+0.012%	$112.9M	$301.9M	50x	as long as short
MEXC HYPE_USDT	+0.0080%	4h	92.276	−0.025%	$87.1M	$80.5M	100x	as long as short
Binance HYPEUSDT	+0.0081%	4h	92.303	+0.004%	$370.0M	$899.7M	75x	as long as short
edgeX HYPEUSDC	+0.0089%	4h	92.287	−0.013%	$4.9M	$29.5M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0091%	8h	92.331	+0.035%	$338K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.305	+0.007%	$16.0M	$62.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.305	+0.007%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.298	−0.001%	$68K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.260	−0.042%	$29K	$1.7M	10x	as long as short
Nado HYPE-PERPshort	+0.0100%	1h	92.291	−0.008%	$6.1M	$43.4M	10x
Hyperliquid HYPE	+0.0100%	1h	92.330	+0.034%	$2.01B	$665.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.320	+0.022%	$10.0M	$15.0M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.245	−0.058%	$201K	$13K	10x	as long as short
KuCoin HYPEUSDTMlong	+0.0100%	4h	92.299	long leg	$45.8M	$18.3M	75x
Bitget HYPEUSDT	+0.0100%	4h	92.301	+0.002%	$223.9M	$98.4M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.237	−0.067%	$7.3M	$10.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.158	−0.153%	$28.3M	$57.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.209	−0.098%	$7.5M	$45.9M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.186	−0.122%	$337K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.325	+0.028%	$663K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.324	+0.027%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.292	−0.008%	$475K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.271	−0.030%	$78K	$169K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.330	+0.034%	$31K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.306	+0.008%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.368	+0.075%	$1.4M	$6.2M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.273	−0.029%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.275	−0.026%	$390K	$164K	20x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	93.000	+0.759%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.230	−0.075%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0257%	8h	92.242	−0.062%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0261%	1h	92.266	−0.036%	$79K	$138K	15x	as long as short
BloFin HYPE-USDT	+0.0304%	4h	92.211	−0.095%	$16.7M	$11.5M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0154%	1h	92.301	+0.002%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0333%	1h	92.295	−0.004%	$20.5M	$30.4M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0487%	1h	92.391	+0.100%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.374	+0.082%	$3.1M	$6.4M	20x	as long as short