Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0098%/8h= −10.7% APRpaid last 24h −0.020%

Price spread now: gTrade (Gains Network) against MEXC+0.065%7-day average — · you sell dearer than you buy

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

Long on MEXC Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. gTrade (Gains Network) is 0.065% dearer against MEXC than usual: you sell high and buy low (spread +0.065% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC HYPE_USDT	92.832	0.0100	pay 0.0050% / 4h	3h 54m	$88.1M	$79.8M	100x
Short	gTrade (Gains Network) HYPE/USD	92.892	L +0.0002% / S −0.0002%	get 0.0000% / 1h	54m 06s	$62K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against MEXC. 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 MEXCbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.065%Rate

Funding earned: −$20.54
Price spread: +0.065% → 0.000%: $6.46
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$28.08
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 5 min ago; gTrade (Gains Network): 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 MEXC live order book, 5 min ago	0.05 bp	2.1 bp −$2	4.8 bp −$48	11.9 bp −$1,191	46.0 bp −$23.0K
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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	−0.0528%	1h	92.732	−0.108%	$193K	$228K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0264%	1h	92.838	+0.007%	$22K	$21K	10x	as long as short
Arcus HYPE-USD	−0.0194%	1h	92.917	+0.092%	$1.1M	$3.9M	10x	as long as short
ApeX Omni HYPEUSDT	−0.0091%	1h	92.784	−0.052%	$350K	$1.0M	50x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.941	+0.117%	$3K	$331	25x	as long as short
Gate HYPE_USDT	−0.0064%	4h	92.861	+0.031%	$44.5M	$53.6M	75x	as long as short
Orderly PERP_HYPE_USDC	−0.0063%	4h	92.800	−0.034%	$157K	$653K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.965	+0.144%	$127K	$29K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	92.977	+0.156%	$1.8M	$5.4M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	92.902	+0.075%	$22K	$301K	10x	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/USDshort	L +0.0002% / S −0.0002%	1h	92.892	+0.065%	$62K	—	150x
Phemex HYPEUSDT	+0.0030%	8h	92.815	−0.018%	$12.5M	$2.7M	50x	as long as short
Bybit HYPEUSDT	+0.0038%	8h	92.840	+0.009%	$316.2M	$281.9M	75x	as long as short
Phoenix HYPE	+0.0043%	1h	92.888	+0.060%	$210K	$1.2M	10x	as long as short
01 Exchange HYPEUSD	+0.0056%	1h	92.963	+0.141%	$87K	$362K	20x	as long as short
Aster HYPEUSDT	+0.0072%	4h	92.901	+0.075%	$8.7M	$36.2M	300x	as long as short
Ondo Perps HYPE-USD.P	+0.0082%	1h	92.800	−0.034%	$697K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0082%	4h	92.850	+0.019%	$224.8M	$98.8M	75x	as long as short
edgeX HYPEUSDC	+0.0088%	4h	92.755	−0.083%	$4.9M	$29.5M	30x	as long as short
Bullet HYPE-USD	+0.0093%	1h	92.864	+0.035%	$111K	$579K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.859	+0.029%	$16.0M	$62.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.863	+0.033%	$3.1M	$11.6M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.926	+0.101%	$69K	$1.1M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0096%	8h	92.967	+0.146%	$339K	$163K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.920	+0.095%	$39K	$1.7M	10x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	92.839	+0.008%	$113.8M	$304.0M	50x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.915	+0.090%	$7.5M	$45.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.907	+0.081%	$2.02B	$663.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.969	+0.147%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.910	+0.084%	$373.7M	$903.4M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.942	+0.118%	$202K	$13K	10x	as long as short
MEXC HYPE_USDTlong	+0.0100%	4h	92.832	long leg	$88.1M	$79.8M	100x
KuCoin HYPEUSDTM	+0.0100%	4h	92.872	+0.043%	$46.1M	$18.4M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	92.840	+0.009%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.866	+0.037%	$7.3M	$11.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.709	−0.133%	$28.4M	$57.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.766	−0.071%	$7.5M	$46.3M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.833	+0.001%	$667K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.939	+0.116%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.950	+0.127%	$469K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.833	+0.001%	$79K	$168K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.811	−0.023%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.937	+0.113%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.827	−0.005%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.995	+0.176%	$1.4M	$6.3M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.799	−0.036%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.826	−0.006%	$392K	$164K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.010	+0.192%	$4.7M	$5.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0197%	1h	92.913	+0.087%	$20.6M	$30.4M	50x	as long as short
Injective HYPE/USDC PERP	+0.0242%	1h	92.760	−0.078%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0264%	1h	92.865	+0.035%	$79K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.880	+0.052%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.910	+0.084%	$16.8M	$11.7M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0375%	1h	92.922	+0.097%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0598%	1h	93.010	+0.192%	$3.2M	$6.4M	20x	as long as short