Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0069%/8h= −7.5% APRpaid last 24h −0.027%

Price spread now: Ondo Perps against KuCoin−0.023%7-day average −0.005% · you buy dearer than you sell

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

Long on KuCoin Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.129%−$13 on $10k

Price spread, last 7 days−0.264%−$26 · spread now −0.023%, 7d avg −0.005%

Together, before fees−0.393%+ Points / potential airdropOndo Perps: Active · farm board−$39 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.005%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin HYPEUSDTM	92.931	0.0100	pay 0.0050% / 4h	3h 50m	$46.2M	$18.4M	75x
Short	Ondo Perps HYPE-USD.P	92.910	0.0031	get 0.0004% / 1h	50m 19s	$699K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against KuCoin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpOrdersPrice spread, now −0.023%Rate

Funding earned: −$14.45
Price spread: −0.023% → −0.005%: −$1.73
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$33.18
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 4 min ago; Ondo Perps: 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, 4 min ago	0.43 bp	8.9 bp −$9	13.8 bp −$138	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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
Hibachi HYPE/USDT-P	−0.0680%	1h	92.799	−0.142%	$193K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0263%	1h	92.908	−0.025%	$22K	$21K	10x	as long as short
Arcus HYPE-USD	−0.0194%	1h	92.889	−0.045%	$1.1M	$3.9M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.022	+0.098%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0062%	4h	92.882	−0.053%	$157K	$660K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.948	+0.018%	$127K	$29K	5x	as long as short
Gate HYPE_USDT	0.0000%	4h	92.914	−0.018%	$44.7M	$53.7M	75x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.067	+0.146%	$1.8M	$5.4M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	92.918	−0.014%	$22K	$301K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.946	+0.016%	$62K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix HYPE	+0.0026%	1h	93.032	+0.109%	$210K	$1.2M	10x	as long as short
Ondo Perps HYPE-USD.Pshort	+0.0031%	1h	92.910	−0.023%	$699K	$1.1M	10x
Bybit HYPEUSDT	+0.0035%	8h	92.902	−0.031%	$316.3M	$282.4M	75x	as long as short
Phemex HYPEUSDT	+0.0043%	8h	92.906	−0.027%	$12.5M	$2.7M	50x	as long as short
01 Exchange HYPEUSD	+0.0056%	1h	92.945	+0.015%	$87K	$362K	20x	as long as short
Bitget HYPEUSDT	+0.0078%	4h	92.895	−0.039%	$225.1M	$99.0M	75x	as long as short
edgeX HYPEUSDC	+0.0086%	4h	92.935	+0.005%	$4.9M	$29.6M	30x	as long as short
Aster HYPEUSDT	+0.0088%	4h	92.963	+0.034%	$8.7M	$36.2M	300x	as long as short
Lighter HYPE	+0.0096%	1h	92.963	+0.035%	$16.1M	$62.3M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.953	+0.024%	$3.1M	$11.6M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.916	−0.016%	$69K	$1.1M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0096%	8h	92.948	+0.018%	$339K	$163K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.870	−0.066%	$39K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.945	+0.015%	$7.5M	$45.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.966	+0.038%	$2.03B	$665.0M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.947	+0.018%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.921	−0.011%	$373.7M	$904.0M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	92.926	−0.005%	$113.9M	$304.8M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.942	+0.012%	$202K	$13K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.910	−0.023%	$87.6M	$79.9M	100x	as long as short
KuCoin HYPEUSDTMlong	+0.0100%	4h	92.931	long leg	$46.2M	$18.4M	75x
BingX HYPE-USDT	+0.0100%	4h	92.912	−0.020%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.977	+0.049%	$7.3M	$11.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.989	+0.062%	$28.6M	$57.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.015	+0.090%	$7.5M	$46.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.928	−0.003%	$351K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.011	+0.086%	$668K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.984	+0.057%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.953	+0.024%	$469K	$2.6M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	92.922	−0.010%	$112K	$578K	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.914	−0.018%	$79K	$168K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.897	−0.037%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.901	−0.032%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.909	−0.024%	$2.0M	$2.0M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.869	−0.066%	$18.0M	$43.6M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.907	−0.026%	$393K	$164K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	92.940	+0.010%	$4.7M	$5.6M	50x	as long as short
HTX HYPE-USDT	+0.0163%	4h	93.082	+0.162%	$1.4M	$6.3M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0197%	1h	92.987	+0.061%	$20.6M	$30.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0242%	1h	93.150	+0.236%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0264%	1h	92.905	−0.028%	$79K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.932	+0.002%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.981	+0.054%	$16.7M	$11.7M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0396%	1h	92.998	+0.072%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0598%	1h	92.990	+0.063%	$3.2M	$6.4M	20x	as long as short