Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0140%/8h= −15.3% APRpaid last 24h −0.023%

Price spread now: 01 Exchange against KuCoin−0.021%7-day average +0.030% · 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−$37as in the Price arb table

costs, in and out, $10k−$320.323% of the position

Long on KuCoin Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.037%−$4 on $10k

Price spread, last 4 days (all we have)+0.025%+$3 · spread now −0.021%, 7d avg +0.030%

Together, before fees−0.012%−$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and 01 Exchange is 0.052% cheaper against KuCoin than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.030%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin HYPEUSDTM	93.563	0.0100	pay 0.0050% / 4h	2h 53m	$46.7M	$18.7M	75x
Short	01 Exchange HYPEUSD	93.543	−0.0040	pay 0.0005% / 1h	53m 03s	$88K	$365K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −0.021%Rate

Funding earned: −$29.4
Price spread: −0.021% → +0.030%: −$5.18
Slippage, 4 orders: −$13.26
Fee KuCoin: 6 bp × 2 orders: −$12
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$66.84
Costs to cover: 0.323%
Break-even: never at this rate

Slippage from KuCoin: live order book, 11 min ago; 01 Exchange: live order book, 61 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, 11 min ago	0.91 bp	10.6 bp −$11	15.4 bp −$154	doesn't fit	doesn't fit
Sell 01 Exchange live order book, 61 min ago	0.16 bp	5.9 bp −$6	10.4 bp −$104	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	−0.1896%	1h	93.264	−0.320%	$196K	$232K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0369%	1h	93.468	−0.102%	$22K	$21K	10x	as long as short
Bullet HYPE-USD	−0.0131%	1h	93.559	−0.004%	$112K	$578K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.504	−0.063%	$3K	$331	25x	as long as short
01 Exchange HYPEUSDshort	−0.0040%	1h	93.543	−0.021%	$88K	$365K	20x
Orderly PERP_HYPE_USDC	−0.0034%	4h	93.551	−0.013%	$146K	$663K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0031%	1h	93.540	−0.025%	$705K	$1.2M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.453	−0.118%	$128K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.518	−0.048%	$22K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.580	+0.018%	$62K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus HYPE-USD	+0.0011%	1h	93.495	−0.073%	$1.0M	$3.9M	10x	as long as short
Phemex HYPEUSDT	+0.0020%	8h	93.532	−0.033%	$12.6M	$2.7M	50x	as long as short
Bitget HYPEUSDT	+0.0022%	4h	93.600	+0.040%	$226.5M	$99.1M	75x	as long as short
Bybit HYPEUSDT	+0.0024%	8h	93.640	+0.082%	$318.5M	$283.5M	75x	as long as short
Phoenix HYPE	+0.0026%	1h	93.546	−0.018%	$209K	$1.2M	10x	as long as short
Bluefin HYPE-PERP	+0.0089%	1h	93.565	+0.002%	$79K	$166K	20x	as long as short
edgeX HYPEUSDC	+0.0094%	4h	93.441	−0.130%	$5.0M	$29.9M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	93.562	−0.001%	$340K	$162K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.572	+0.010%	$16.2M	$62.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.572	+0.010%	$3.1M	$11.4M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.528	−0.037%	$77K	$1.1M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.510	−0.057%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.544	−0.020%	$7.6M	$48.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.643	+0.086%	$2.04B	$665.4M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.604	+0.044%	$8.7M	$36.4M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.541	−0.023%	$10.1M	$15.3M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.605	+0.045%	$375.4M	$910.7M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.659	+0.103%	$115.0M	$309.2M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.328	−0.251%	$203K	$3K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	93.597	+0.036%	$46.4M	$53.9M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.592	+0.031%	$92.2M	$80.1M	100x	as long as short
KuCoin HYPEUSDTMlong	+0.0100%	4h	93.563	long leg	$46.7M	$18.7M	75x
BingX HYPE-USDT	+0.0100%	4h	93.599	+0.038%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.625	+0.066%	$7.3M	$11.0M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.529	−0.037%	$28.7M	$56.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.637	+0.079%	$7.6M	$47.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.532	−0.033%	$343K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.435	−0.137%	$668K	$2.9M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.564	+0.001%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.576	+0.014%	$490K	$2.7M	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.534	−0.031%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.508	−0.059%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.562	−0.001%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.715	+0.162%	$1.4M	$6.4M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.536	−0.029%	$18.1M	$43.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.544	−0.021%	$395K	$161K	20x	as long as short
Injective HYPE/USDC PERP	+0.0122%	1h	93.770	+0.221%	$30K	$339K	12x	as long as short
Kalshi KXHYPEPERP	+0.0125%	8h	93.630	+0.072%	$1.8M	$5.6M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.620	+0.061%	$4.8M	$5.6M	50x	as long as short
Reya HYPERUSDPERP	+0.0267%	1h	93.560	−0.004%	$80K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0154%	1h	93.576	+0.014%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.558	−0.005%	$16.9M	$11.9M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0340%	1h	93.632	+0.074%	$20.9M	$29.6M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0445%	1h	93.657	+0.100%	$7.5M	$4.0M	50x	as long as short
RISEx HYPE/USDC	+0.0527%	1h	93.593	+0.032%	$3.2M	$6.3M	20x	as long as short