Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0022%/8h= −2.4% APRpaid last 24h −0.018%

Price spread now: Gate against Nado+0.031%7-day average −0.018% · 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−$26as in the Price arb table

costs, in and out, $10k−$310.312% of the position

Long on Nado Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.021%−$2 on $10k

Price spread, last 7 days−0.040%−$4 · spread now +0.031%, 7d avg −0.018%

Together, before fees−0.061%+ Points / potential airdropNado: Active · farm board−$6 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.048% dearer against Nado than usual: you sell high and buy low (spread +0.031% now, against its 7-day average of −0.018%): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 7.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado HYPE-PERP	92.731	0.0100	pay 0.0012% / 1h	29m 43s	$6.8M	$44.2M	10x
Short	Gate HYPE_USDT	92.759	0.0078	get 0.0039% / 4h	29m 43s	$44.5M	$55.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Nado. 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 NadobpFee GatebpOrdersPrice spread, now +0.031%Rate

Funding earned: −$4.62
Price spread: +0.031% → −0.018%: $4.84
Slippage, 4 orders: −$9.19
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$30.97
Costs to cover: 0.312%
Break-even: never at this rate

Slippage from Nado: live order book, 4 min ago; Gate: live order book, 4 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 Nado live order book, 4 min ago	0.05 bp	3.8 bp −$4	6.2 bp −$62	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	0.05 bp	12.3 bp −$12	17.3 bp −$173	34.3 bp −$3,430	56.8 bp −$28.4K

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
Arcus HYPE-USD	−0.0948%	1h	92.613	−0.127%	$1.0M	$3.8M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0280%	1h	92.585	−0.156%	$194K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0194%	1h	92.455	−0.297%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.705	−0.027%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0066%	4h	92.658	−0.078%	$157K	$666K	20x	as long as short
01 Exchange HYPEUSD	−0.0048%	1h	92.711	−0.021%	$87K	$356K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.698	−0.035%	$127K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.746	+0.017%	$22K	$309K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.700	−0.033%	$62K	—	150x	as long as short
Bullet HYPE-USD	+0.0020%	1h	92.683	−0.051%	$110K	$580K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps HYPE-USD.P	+0.0020%	1h	92.560	−0.184%	$696K	$1.1M	10x	as long as short
Aster HYPEUSDT	+0.0024%	4h	92.764	+0.036%	$8.7M	$36.3M	300x	as long as short
Phemex HYPEUSDT	+0.0028%	8h	92.672	−0.063%	$12.5M	$2.7M	50x	as long as short
BingX HYPE-USDT	+0.0036%	4h	92.751	+0.022%	—	$53.4M	—	as long as short
Phoenix HYPE	+0.0043%	1h	92.278	−0.488%	$209K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0054%	8h	92.737	+0.007%	$316.8M	$281.6M	75x	as long as short
Gate HYPE_USDTshort	+0.0078%	4h	92.759	+0.031%	$44.5M	$55.1M	75x
OKX HYPE-USDT-SWAP	+0.0083%	8h	92.760	+0.032%	$113.6M	$304.5M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0093%	8h	92.746	+0.016%	$339K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.761	+0.033%	$16.0M	$62.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.706	−0.026%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.704	−0.029%	$69K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.630	−0.108%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERPlong	+0.0100%	1h	92.731	long leg	$6.8M	$44.2M	10x
Hyperliquid HYPE	+0.0100%	1h	92.784	+0.058%	$2.02B	$666.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.736	+0.006%	$10.0M	$15.0M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.747	+0.017%	$371.9M	$903.6M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.298	−0.466%	$201K	$13K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.773	+0.046%	$87.7M	$80.7M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.760	+0.032%	$46.0M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.762	+0.034%	$224.9M	$98.3M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.752	+0.023%	$7.3M	$10.8M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.569	−0.174%	$28.5M	$57.6M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.290	−0.475%	$7.5M	$46.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.436	−0.318%	$338K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.617	−0.122%	$663K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.702	−0.031%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.682	−0.052%	$465K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.681	−0.053%	$78K	$170K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.660	−0.076%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.671	−0.064%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.709	−0.023%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.818	+0.094%	$1.4M	$6.2M	75x	as long as short
edgeX HYPEUSDC	+0.0103%	4h	92.227	−0.542%	$4.9M	$29.6M	30x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.742	+0.012%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.691	−0.043%	$392K	$164K	20x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	93.000	+0.291%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.700	−0.033%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0247%	8h	92.707	−0.025%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0261%	1h	92.659	−0.077%	$79K	$137K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0154%	1h	92.686	−0.048%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0332%	1h	92.762	+0.034%	$20.6M	$30.5M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.607	−0.133%	$16.7M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0462%	1h	92.789	+0.063%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.755	+0.026%	$3.2M	$6.4M	20x	as long as short