Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0083%/8h= −9.0% APRpaid last 24h −0.006%

Price spread now: gTrade (Gains Network) against OKX+0.034%7-day average — · you sell dearer than you buy

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

Long on OKX 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 0.034% dearer against OKX than usual: you sell high and buy low (spread +0.034% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 33 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX HYPE-USDT-SWAP	93.969	0.0085	pay 0.0085% / 8h	7h 59m	$116.0M	$322.7M	50x
Short	gTrade (Gains Network) HYPE/USD	94.001	L +0.0002% / S −0.0003%	get 0.0000% / 1h	59m 24s	$27K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against OKX. 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 OKXbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.034%Rate

Funding earned: −$17.33
Price spread: +0.034% → 0.000%: $3.42
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$33.92
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: OKX: 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 OKX live order book, 5 min ago	0.05 bp	6.4 bp −$6	8.9 bp −$89	17.0 bp −$1,700	doesn't fit
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 54 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	−0.1416%	1h	93.956	−0.013%	$199K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0339%	1h	93.995	+0.027%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	93.854	−0.122%	$1.2M	$3.8M	10x	as long as short
01 Exchange HYPEUSD	−0.0200%	1h	94.009	+0.043%	$86K	$368K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.049	+0.085%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0074%	1h	93.960	−0.010%	$705K	$924K	10x	as long as short
Bullet HYPE-USD	−0.0051%	1h	93.986	+0.018%	$112K	$578K	20x	as long as short
dYdX HYPE-USD	−0.0021%	1h	94.052	+0.088%	$128K	$30K	5x	as long as short
Derive HYPE-PERP	−0.0015%	1h	93.908	−0.065%	$16.4M	$7.2M	10x	as long as short
Orderly PERP_HYPE_USDC	−0.0007%	4h	93.971	+0.002%	$169K	$594K	20x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	94.012	+0.045%	$23K	$329K	10x	as long as short
gTrade (Gains Network) HYPE/USDshort	L +0.0002% / S −0.0003%	1h	94.001	+0.034%	$27K	—	150x
Phoenix HYPE	+0.0009%	1h	94.114	+0.154%	$218K	$1.2M	10x	as long as short
Aster HYPEUSDT	+0.0019%	4h	94.016	+0.050%	$8.9M	$36.1M	300x	as long as short
Phemex HYPEUSDT	+0.0024%	8h	93.997	+0.030%	$12.8M	$2.6M	50x	as long as short
MEXC HYPE_USDT	+0.0044%	4h	93.985	+0.017%	$88.5M	$81.0M	100x	as long as short
SoDEX HYPE-USD	+0.0045%	1h	93.972	+0.003%	$2.0M	$2.0M	10x	as long as short
Binance HYPEUSDT	+0.0047%	4h	93.986	+0.019%	$384.1M	$899.4M	75x	as long as short
edgeX HYPEUSDC	+0.0053%	4h	93.991	+0.024%	$5.1M	$29.7M	30x	as long as short
Gate HYPE_USDT	+0.0066%	4h	93.995	+0.028%	$44.4M	$58.3M	75x	as long as short
OKX HYPE-USDT-SWAPlong	+0.0085%	8h	93.969	long leg	$116.0M	$322.7M	50x
Lighter HYPE	+0.0096%	1h	94.027	+0.062%	$18.9M	$58.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.020	+0.054%	$3.1M	$12.0M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.014	+0.048%	$60K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	94.004	+0.037%	$400K	$190K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	94.104	+0.143%	$342K	$171K	20x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.023	+0.058%	$6.6M	$44.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.114	+0.154%	$2.05B	$680.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.027	+0.061%	$10.1M	$14.6M	20x	as long as short
Bybit HYPEUSDT	+0.0100%	8h	93.952	−0.018%	$323.3M	$283.8M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.889	−0.085%	$205K	$7K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.019	+0.053%	$46.5M	$18.5M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.979	+0.011%	$227.7M	$101.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.967	−0.002%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.076	+0.114%	$7.9M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.972	+0.004%	$31.4M	$54.2M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.052	+0.088%	$7.6M	$45.4M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.033	+0.068%	$340K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.047	+0.083%	$680K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.043	+0.078%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.034	+0.069%	$472K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.016	+0.050%	$32K	$1.6M	20x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.960	−0.009%	$18.4M	$42.7M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	94.080	+0.118%	$4.9M	$5.7M	50x	as long as short
Kalshi KXHYPEPERP	+0.0162%	8h	94.110	+0.150%	$1.9M	$5.1M	2.3x	as long as short
BloFin HYPE-USDT	+0.0183%	4h	94.000	+0.033%	$17.0M	$12.6M	75x	as long as short
HTX HYPE-USDT	+0.0195%	4h	94.217	+0.264%	$1.5M	$7.8M	75x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	93.990	+0.022%	$31K	$338K	12x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	94.009	+0.043%	$2.8M	$6.9M	20x	as long as short
Reya HYPERUSDPERP	+0.0250%	1h	94.000	+0.033%	$77K	$142K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0157%	1h	93.998	+0.031%	$1.5M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0378%	1h	94.079	+0.117%	$7.5M	$4.7M	50x	as long as short
Bluefin HYPE-PERP	+0.0558%	1h	93.999	+0.032%	$76K	$171K	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0671%	1h	94.089	+0.128%	$21.0M	$29.5M	50x	as long as short