Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.008%

Price spread now: SunX against KuCoin+0.015%7-day average +0.064% · you sell dearer than you buy

Net, funding: paid 7d − costs−$76as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$770.773% of the position

Long on KuCoin Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.013%+$1 on $10k

Price spread, last 4 days (all we have)+0.028%+$3 · spread now +0.015%, 7d avg +0.064%

Together, before fees+0.040%+$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SunX is 0.049% cheaper against KuCoin than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.064%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin HYPEUSDTM	94.279	0.0100	pay 0.0050% / 4h	2h 11m	$46.5M	$18.9M	75x
Short	SunX HYPE-USDT	94.293	0.0100	get 0.0050% / 4h	2h 11m	$32K	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.015%Rate

Funding earned: $0
Price spread: +0.015% → +0.064%: −$4.95
Slippage, 4 orders: −$57.3
Fee KuCoin: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$82.25
Costs to cover: 0.773%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; SunX: 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, 2 min ago	0.43 bp	10.3 bp −$10	15.5 bp −$155	doesn't fit	doesn't fit
Sell SunX live order book, 3 min ago	19.33 bp	32.6 bp −$33	doesn't fit	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	−0.1328%	1h	94.055	−0.237%	$199K	$239K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0387%	1h	94.011	−0.285%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.149	−0.138%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0015%	1h	94.266	−0.013%	$112K	$580K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0015%	4h	94.262	−0.018%	$147K	$677K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.186	−0.098%	$129K	$29K	5x	as long as short
01 Exchange HYPEUSD	0.0000%	1h	94.225	−0.057%	$86K	$372K	20x	as long as short
Perpl HYPE	0.0000%	43m	94.290	+0.011%	$22K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	94.296	+0.018%	$63K	—	150x	as long as short
Arcus HYPE-USD	+0.0011%	1h	94.202	−0.082%	$1.1M	$4.0M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit HYPEUSDT	+0.0021%	8h	94.241	−0.040%	$319.1M	$285.5M	75x	as long as short
Bitget HYPEUSDT	+0.0022%	4h	94.275	−0.004%	$227.4M	$99.3M	75x	as long as short
Phemex HYPEUSDT	+0.0026%	8h	94.270	−0.010%	$12.8M	$2.8M	50x	as long as short
Phoenix HYPE	+0.0026%	1h	94.200	−0.084%	$209K	$1.2M	10x	as long as short
Ondo Perps HYPE-USD.P	+0.0066%	1h	94.080	−0.211%	$709K	$1.2M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	94.230	−0.052%	$342K	$158K	20x	as long as short
Lighter HYPE	+0.0096%	1h	94.308	+0.031%	$16.4M	$63.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.313	+0.036%	$3.2M	$11.6M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.254	−0.027%	$72K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.180	−0.105%	$28K	$1.7M	10x	as long as short
edgeX HYPEUSDC	+0.0100%	4h	94.090	−0.200%	$5.0M	$30.2M	30x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.213	−0.069%	$7.2M	$48.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.360	+0.086%	$2.07B	$678.3M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.273	−0.006%	$8.8M	$36.6M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.254	−0.027%	$10.2M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.283	+0.005%	$378.4M	$922.2M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	94.280	+0.001%	$116.5M	$316.6M	50x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.266	−0.014%	$48.1M	$55.5M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.277	−0.002%	$89.8M	$82.1M	100x	as long as short
KuCoin HYPEUSDTMlong	+0.0100%	4h	94.279	long leg	$46.5M	$18.9M	75x
BingX HYPE-USDT	+0.0100%	4h	94.264	−0.016%	—	$53.6M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.323	+0.047%	$7.2M	$10.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.099	−0.190%	$28.9M	$56.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.125	−0.163%	$7.7M	$48.4M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.113	−0.176%	$337K	$998K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.142	−0.145%	$674K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.288	+0.010%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.252	−0.029%	$478K	$2.8M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	94.291	+0.013%	$80K	$166K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	94.277	−0.002%	$16.2M	$7.4M	10x	as long as short
SunX HYPE-USDTshort	+0.0100%	4h	94.293	+0.015%	$32K	$1.6M	20x
SoDEX HYPE-USD	+0.0100%	1h	94.303	+0.025%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.450	+0.181%	$1.4M	$6.6M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.197	−0.087%	$217K	$15K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.242	−0.040%	$18.3M	$43.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.298	+0.021%	$399K	$159K	20x	as long as short
Kalshi KXHYPEPERP	+0.0121%	8h	94.292	+0.014%	$1.8M	$5.6M	2.3x	as long as short
Injective HYPE/USDC PERP	+0.0122%	1h	94.310	+0.033%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	94.340	+0.065%	$4.7M	$6.1M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0195%	1h	94.383	+0.110%	$7.5M	$4.1M	50x	as long as short
Reya HYPERUSDPERP	+0.0270%	1h	94.197	−0.086%	$77K	$130K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0333% / S −0.0154%	1h	94.281	+0.002%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0337%	1h	94.396	+0.124%	$21.1M	$29.5M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.169	−0.117%	$16.8M	$12.1M	75x	as long as short
RISEx HYPE/USDC	+0.0527%	1h	94.279	+0.001%	$3.2M	$6.3M	20x	as long as short