Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0072%/8h= −7.8% APRpaid last 24h +0.011%

Price spread now: Paradex against KuCoin+0.001%7-day average +0.019% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$540.542% of the position

Long on KuCoin Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.003%$0 on $10k

Price spread, last 4 days (all we have)−0.082%−$8 · spread now +0.001%, 7d avg +0.019%

Together, before fees−0.079%+ Points / potential airdropParadex: Active · farm board−$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.019%, 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	94.059	0.0100	pay 0.0050% / 4h	21m 36s	$46.7M	$18.8M	75x
Short	Paradex HYPE-USD-PERP	94.060	0.0028	get 0.0028% / 8h	21m 36s	$336K	$154K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.001%Rate

Funding earned: −$15.04
Price spread: +0.001% → +0.019%: −$1.77
Slippage, 4 orders: −$38.24
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$71.04
Costs to cover: 0.542%
Break-even: never at this rate

Slippage from KuCoin: live order book, 7 min ago; Paradex: live order book, 18 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	0.26 bp	9.9 bp −$10	15.1 bp −$151	doesn't fit	doesn't fit
Sell Paradex live order book, 18 min ago	14.72 bp	17.8 bp −$18	39.9 bp −$399	doesn't fit	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	−0.1728%	1h	93.996	−0.067%	$201K	$255K	7x	as long as short
Bluefin HYPE-PERP	−0.0414%	1h	93.999	−0.064%	$79K	$152K	20x	as long as short
Bullet HYPE-USD	−0.0237%	1h	94.031	−0.030%	$111K	$577K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0226%	1h	93.910	−0.158%	$710K	$1.2M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0131%	1h	94.156	+0.104%	$22K	$20K	10x	as long as short
01 Exchange HYPEUSD	−0.0120%	1h	94.067	+0.009%	$87K	$368K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.016	−0.046%	$3K	$331	25x	as long as short
Derive HYPE-PERP	−0.0080%	1h	93.964	−0.101%	$16.4M	$7.5M	10x	as long as short
Lighter HYPE	−0.0056%	1h	94.053	−0.006%	$16.3M	$64.4M	20x	as long as short
Arcus HYPE-USD	−0.0045%	1h	94.032	−0.029%	$1.0M	$3.6M	10x	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	−0.0020%	4h	94.054	−0.005%	—	$52.9M	—	as long as short
Bybit HYPEUSDT	−0.0019%	8h	94.060	+0.001%	$316.2M	$289.2M	75x	as long as short
Orderly PERP_HYPE_USDC	−0.0009%	4h	93.999	−0.064%	$146K	$684K	20x	as long as short
Polymarket Perps HYPE-USD	−0.0006%	1h	94.064	+0.005%	$496K	$2.8M	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.061	+0.002%	$129K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.146	+0.092%	$1.8M	$5.6M	2.3x	as long as short
Phoenix HYPE	0.0000%	1h	94.232	+0.184%	$209K	$1.1M	10x	as long as short
Perpl HYPE	0.0000%	43m	94.049	−0.011%	$19K	$288K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.076	+0.018%	$123K	—	150x	as long as short
Paradex HYPE-USD-PERPshort	+0.0028%	8h	94.060	+0.001%	$336K	$154K	20x
Bitget HYPEUSDT	+0.0030%	4h	94.047	−0.013%	$225.9M	$100.0M	75x	as long as short
SoDEX HYPE-USD	+0.0037%	1h	94.015	−0.047%	$2.0M	$1.9M	10x	as long as short
Vest HYPE-PERP	+0.0040%	1h	94.105	+0.049%	—	$190K	5x	as long as short
Phemex HYPEUSDT	+0.0049%	8h	94.014	−0.048%	$12.8M	$2.9M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0064%	1h	94.120	+0.065%	$4.7M	$6.2M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0066%	8h	94.059	0.000%	$117.2M	$323.1M	50x	as long as short
edgeX HYPEUSDC	+0.0090%	4h	94.094	+0.037%	$5.0M	$30.7M	30x	as long as short
Gate HYPE_USDT	+0.0092%	4h	94.048	−0.012%	$49.9M	$56.7M	75x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.065	+0.006%	$3.2M	$10.8M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.044	−0.016%	$81K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.030	−0.031%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.035	−0.026%	$7.2M	$53.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.123	+0.068%	$2.07B	$687.5M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.063	+0.004%	$8.8M	$37.2M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.087	+0.030%	$10.1M	$15.1M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.053	−0.006%	$376.7M	$933.5M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.240	+0.193%	$218K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.070	+0.012%	$88.2M	$83.8M	100x	as long as short
KuCoin HYPEUSDTMlong	+0.0100%	4h	94.059	long leg	$46.7M	$18.8M	75x
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.988	−0.075%	$7.5M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.108	+0.052%	$29.5M	$54.6M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.122	+0.067%	$7.6M	$45.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.083	+0.026%	$369K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.060	+0.001%	$680K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.069	+0.011%	$32K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.180	+0.129%	$1.4M	$6.8M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.029	−0.032%	$18.3M	$43.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.027	−0.034%	$397K	$154K	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0143%	1h	94.124	+0.069%	$7.4M	$4.3M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0150% / S +0.0022%	1h	94.084	+0.026%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0185%	1h	94.740	+0.724%	$31K	$340K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0224%	1h	94.085	+0.027%	$20.2M	$30.2M	50x	as long as short
RISEx HYPE/USDC	+0.0249%	1h	94.086	+0.029%	$3.2M	$6.4M	20x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.011	−0.051%	$84K	$123K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.044	−0.016%	$17.1M	$12.3M	75x	as long as short