Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0066%/8h= −7.2% APRpaid last 24h −0.010%

Price spread now: Bitget against Pacifica−0.009%7-day average −0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$270.266% of the position

Long on Pacifica Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.020%+$2 on $10k

Price spread, last 7 days+0.022%+$2 · spread now −0.009%, 7d avg −0.011%

Together, before fees+0.043%+ Points / potential airdropPacifica: Active · farm board+$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.011%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica HYPE	94.012	0.0100	pay 0.0013% / 1h	24m 15s	$10.1M	$15.1M	20x
Short	Bitget HYPEUSDT	94.004	0.0034	get 0.0017% / 4h	24m 15s	$225.8M	$100.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Pacifica. 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 PacificabpFee BitgetbpOrdersPrice spread, now −0.009%Rate

Funding earned: −$13.86
Price spread: −0.009% → −0.011%: $0.29
Slippage, 4 orders: −$6.57
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$40.14
Costs to cover: 0.266%
Break-even: never at this rate

Slippage from Pacifica: live order book, 5 min ago; Bitget: live order book, 5 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 Pacifica live order book, 5 min ago	0.05 bp	4.4 bp −$4	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	0.48 bp	9.3 bp −$9	14.4 bp −$144	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	−0.1744%	1h	94.075	+0.067%	$202K	$255K	7x	as long as short
Bluefin HYPE-PERP	−0.0411%	1h	93.998	−0.015%	$79K	$152K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0232%	1h	93.970	−0.045%	$711K	$1.2M	10x	as long as short
Bullet HYPE-USD	−0.0229%	1h	94.012	0.000%	$111K	$577K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0129%	1h	94.199	+0.199%	$22K	$20K	10x	as long as short
01 Exchange HYPEUSD	−0.0112%	1h	94.044	+0.034%	$87K	$367K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.143	+0.139%	$3K	$331	25x	as long as short
Derive HYPE-PERP	−0.0074%	1h	93.982	−0.032%	$16.4M	$7.5M	10x	as long as short
Lighter HYPE	−0.0056%	1h	93.999	−0.014%	$16.3M	$64.4M	20x	as long as short
Arcus HYPE-USD	−0.0045%	1h	93.986	−0.028%	$1.0M	$3.6M	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	−0.0019%	8h	94.040	+0.030%	$316.1M	$289.2M	75x	as long as short
BingX HYPE-USDT	−0.0018%	4h	94.022	+0.011%	—	$52.9M	—	as long as short
Orderly PERP_HYPE_USDC	−0.0008%	4h	94.013	+0.001%	$146K	$684K	20x	as long as short
Polymarket Perps HYPE-USD	−0.0002%	1h	94.065	+0.056%	$496K	$2.8M	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.059	+0.050%	$129K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.193	+0.193%	$1.8M	$5.6M	2.3x	as long as short
Phoenix HYPE	0.0000%	1h	94.232	+0.234%	$209K	$1.1M	10x	as long as short
Perpl HYPE	0.0000%	43m	94.049	+0.039%	$19K	$288K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.135	+0.130%	$124K	—	150x	as long as short
Paradex HYPE-USD-PERP	+0.0031%	8h	94.009	−0.004%	$336K	$154K	20x	as long as short
Bitget HYPEUSDTshort	+0.0034%	4h	94.004	−0.009%	$225.8M	$100.0M	75x
SoDEX HYPE-USD	+0.0040%	1h	94.013	+0.001%	$2.0M	$1.9M	10x	as long as short
Vest HYPE-PERP	+0.0047%	1h	94.097	+0.091%	—	$190K	5x	as long as short
Phemex HYPEUSDT	+0.0048%	8h	94.102	+0.096%	$12.8M	$2.9M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0064%	1h	94.090	+0.083%	$4.7M	$6.2M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0068%	8h	94.030	+0.019%	$117.3M	$323.2M	50x	as long as short
edgeX HYPEUSDC	+0.0094%	4h	94.209	+0.210%	$5.0M	$30.7M	30x	as long as short
Gate HYPE_USDT	+0.0094%	4h	94.033	+0.022%	$49.9M	$56.7M	75x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.000	−0.013%	$3.2M	$10.8M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.020	+0.009%	$81K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.040	+0.030%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.981	−0.032%	$7.2M	$53.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.137	+0.133%	$2.07B	$686.9M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.040	+0.030%	$8.8M	$37.2M	300x	as long as short
Pacifica HYPElong	+0.0100%	1h	94.012	long leg	$10.1M	$15.1M	20x
Binance HYPEUSDT	+0.0100%	4h	94.044	+0.034%	$376.6M	$933.3M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.240	+0.243%	$218K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.032	+0.021%	$88.2M	$83.7M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.029	+0.018%	$46.7M	$18.8M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.022	+0.011%	$7.5M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.108	+0.102%	$29.5M	$54.6M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.230	+0.232%	$7.6M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.231	+0.233%	$370K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.194	+0.194%	$681K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.088	+0.081%	$32K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.200	+0.200%	$1.4M	$6.8M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.972	−0.043%	$18.3M	$43.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.043	+0.033%	$398K	$154K	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0150% / S +0.0022%	1h	94.158	+0.155%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0185%	1h	94.740	+0.774%	$31K	$340K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0224%	1h	94.065	+0.056%	$20.2M	$30.2M	50x	as long as short
RISEx HYPE/USDC	+0.0249%	1h	94.024	+0.013%	$3.2M	$6.4M	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0250%	1h	94.113	+0.107%	$7.4M	$4.3M	50x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	93.989	−0.025%	$84K	$123K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.108	+0.102%	$17.1M	$12.3M	75x	as long as short