Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0147%/8h= +16.1% APRpaid last 24h +0.026%

Price spread now: Reya against KuCoin+0.044%49s7-day average −0.002% · you sell dearer than you buy

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

Long on KuCoin Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.001%$0 on $10k

Price spread, last 3 days (all we have)+0.237%+$24 · spread now +0.044%, 7d avg −0.002%

Together, before fees+0.235%+ Points / potential airdropReya: Active · farm board+$24 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Reya is 0.045% dearer against KuCoin than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.002%. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin HYPEUSDTM	93.209	0.0100	pay 0.0050% / 4h	1h 17m	$47.0M	$18.8M	75x
Short	Reya HYPERUSDPERP	93.250	0.0247	get 0.0031% / 1h	17m 35s	$77K	$159K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now +0.044%Rate

Funding earned: $30.89
Price spread: +0.044% → −0.002%: $4.54
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: $17.43
Costs to cover: 0.180%
Break-even: 3.1 days

Slippage unknown: KuCoin: live order book, 6 min ago; Reya: 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, 6 min ago	1.08 bp	10.4 bp −$10	18.5 bp −$185	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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
Aftermath Perps HYPEUSD	−0.0438%	1h	93.164	−0.049%	$22K	$22K	10x	as long as short
Hibachi HYPE/USDT-P	−0.0336%	1h	93.229	+0.021%	$197K	$230K	7x	as long as short
Arcus HYPE-USD	−0.0131%	1h	93.124	−0.091%	$1.2M	$4.0M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0127%	1h	93.150	−0.063%	$699K	$929K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.208	−0.001%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0032%	1h	93.186	−0.025%	$90K	$361K	20x	as long as short
Popdex HYPEUSDT	−0.0008%	1h	93.175	−0.036%	$58K	$1.2M	50x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.276	+0.072%	$127K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.250	+0.044%	$23K	$331K	10x	as long as short
Aster HYPEUSDT	+0.0002%	4h	93.215	+0.006%	$8.8M	$35.9M	300x	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 −0.0001%	1h	93.289	+0.085%	$20K	—	150x	as long as short
Orderly PERP_HYPE_USDC	+0.0021%	4h	93.264	+0.059%	$172K	$518K	20x	as long as short
Bybit HYPEUSDT	+0.0021%	8h	93.169	−0.043%	$322.8M	$286.8M	75x	as long as short
Phoenix HYPE	+0.0034%	1h	93.293	+0.090%	$214K	$1.2M	10x	as long as short
Bullet HYPE-USD	+0.0040%	1h	93.247	+0.041%	$112K	$579K	20x	as long as short
Derive HYPE-PERP	+0.0047%	1h	93.208	−0.001%	$16.3M	$7.0M	10x	as long as short
Gate HYPE_USDT	+0.0060%	4h	93.196	−0.014%	$43.9M	$58.6M	75x	as long as short
MEXC HYPE_USDT	+0.0064%	4h	93.207	−0.002%	$90.1M	$82.3M	100x	as long as short
Binance HYPEUSDT	+0.0066%	4h	93.185	−0.026%	$381.5M	$895.1M	75x	as long as short
edgeX HYPEUSDC	+0.0079%	4h	93.210	+0.001%	$5.1M	$29.7M	30x	as long as short
Lighter HYPE	+0.0096%	1h	93.264	+0.059%	$18.6M	$59.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.246	+0.040%	$3.1M	$12.2M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.263	+0.058%	$397K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0098%	8h	93.215	+0.006%	$339K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.200	−0.010%	$35K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.162	−0.050%	$5.9M	$44.2M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.257	+0.051%	$2.03B	$669.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.231	+0.024%	$10.0M	$14.4M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.164	−0.048%	$114.2M	$314.6M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.232	+0.025%	$204K	$8K	10x	as long as short
KuCoin HYPEUSDTMlong	+0.0100%	4h	93.209	long leg	$47.0M	$18.8M	75x
Bitget HYPEUSDT	+0.0100%	4h	93.199	−0.011%	$226.0M	$103.1M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.187	−0.024%	—	$53.8M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.208	−0.001%	$7.8M	$10.9M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.153	−0.060%	$29.0M	$50.6M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.253	+0.047%	$7.5M	$46.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.262	+0.057%	$415K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.239	+0.032%	$674K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.223	+0.015%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.282	+0.078%	$493K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.260	+0.055%	$76K	$167K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.271	+0.067%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.263	+0.058%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.225	+0.017%	$12.7M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.153	−0.060%	$18.2M	$41.9M	50x	as long as short
Kalshi KXHYPEPERP	+0.0115%	8h	93.316	+0.115%	$1.9M	$5.3M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.300	+0.098%	$4.9M	$5.7M	50x	as long as short
HTX HYPE-USDT	+0.0238%	4h	93.400	+0.205%	$1.5M	$7.7M	75x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	93.120	−0.095%	$30K	$338K	12x	as long as short
Reya HYPERUSDPERPshort	+0.0247%	1h	93.250	+0.044%	$77K	$159K	15x
BloFin HYPE-USDT	+0.0268%	4h	93.242	+0.035%	$16.8M	$12.5M	75x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.230	+0.023%	$2.7M	$6.8M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0165%	1h	93.280	+0.077%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0393%	1h	93.355	+0.157%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0465%	1h	93.367	+0.169%	$20.9M	$29.0M	50x	as long as short