Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bulk against Pacifica−0.076%7-day average +0.013% · 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−$28as in the Price arb table

costs, in and out, $10k−$190.190% of the position

Long on Pacifica Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.012%+$1 · spread now −0.076%, 7d avg +0.013%

Together, before fees+0.012%+ Points / potential airdropPacifica: Active · farm board+$1 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bulk is 0.089% cheaper against Pacifica than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica HYPE	93.887	0.0100	pay 0.0013% / 1h	46m 24s	$10.1M	$14.6M	20x
Short	Bulk HYPE-USD	93.816	0.0100	get 0.0013% / 1h	46m 24s	$204K	$5K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk 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 BulkbpOrdersPrice spread, now −0.076%Rate

Funding earned: $0
Price spread: −0.076% → +0.013%: −$8.9
Slippage, 4 orders: −$4.02
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$27.92
Costs to cover: 0.190%
Break-even: never at this rate

Slippage from Pacifica: live order book, 3 min ago; Bulk: live order book, 27 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, 3 min ago	0.11 bp	4.5 bp −$4	doesn't fit	doesn't fit	doesn't fit
Sell Bulk live order book, 27 min ago	0.53 bp	6.0 bp −$6	7.6 bp −$76	13.2 bp −$1,324	37.8 bp −$18.9K

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	−0.1424%	1h	93.878	−0.009%	$199K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0625%	1h	93.770	−0.125%	$1.2M	$3.8M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0278%	1h	93.895	+0.008%	$22K	$23K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0194%	1h	93.780	−0.114%	$703K	$927K	10x	as long as short
Gate HYPE_USDT	−0.0144%	4h	93.800	−0.093%	$44.3M	$59.2M	75x	as long as short
01 Exchange HYPEUSD	−0.0104%	1h	93.864	−0.025%	$85K	$361K	20x	as long as short
Bullet HYPE-USD	−0.0103%	1h	93.792	−0.101%	$112K	$580K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.877	−0.011%	$3K	$331	25x	as long as short
dYdX HYPE-USD	−0.0071%	1h	93.920	+0.035%	$128K	$29K	5x	as long as short
Bybit HYPEUSDT	−0.0059%	8h	93.800	−0.093%	$322.4M	$282.2M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex HYPEUSDT	−0.0032%	8h	93.860	−0.029%	$12.8M	$2.6M	50x	as long as short
Orderly PERP_HYPE_USDC	−0.0011%	4h	93.841	−0.049%	$169K	$593K	20x	as long as short
Derive HYPE-PERP	−0.0008%	1h	93.782	−0.112%	$16.4M	$7.2M	10x	as long as short
Perpl HYPE	0.0000%	43m	93.845	−0.045%	$23K	$327K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.842	−0.048%	$27K	—	150x	as long as short
Aster HYPEUSDT	+0.0012%	4h	93.847	−0.043%	$8.9M	$36.1M	300x	as long as short
Bluefin HYPE-PERP	+0.0013%	1h	93.845	−0.045%	$76K	$171K	20x	as long as short
Phoenix HYPE	+0.0034%	1h	93.874	−0.014%	$218K	$1.2M	10x	as long as short
Binance HYPEUSDT	+0.0040%	4h	93.815	−0.077%	$382.8M	$895.6M	75x	as long as short
MEXC HYPE_USDT	+0.0040%	4h	93.806	−0.087%	$88.5M	$82.1M	100x	as long as short
edgeX HYPEUSDC	+0.0063%	4h	93.828	−0.064%	$5.1M	$29.8M	30x	as long as short
Popdex HYPEUSDT	+0.0072%	1h	93.848	−0.042%	$61K	$1.2M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0080%	8h	93.820	−0.072%	$115.7M	$319.7M	50x	as long as short
Aevo HYPE-PERP	+0.0088%	1h	93.857	−0.032%	$399K	$193K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.898	+0.012%	$18.9M	$58.3M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.901	+0.015%	$3.0M	$12.0M	20x	as long as short
ApeX Omni HYPEUSDT	+0.0096%	1h	93.878	−0.010%	$340K	$1.1M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.905	+0.019%	$341K	$171K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.850	−0.040%	$24K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.820	−0.071%	$6.6M	$44.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.928	+0.043%	$2.04B	$676.6M	10x	as long as short
Pacifica HYPElong	+0.0100%	1h	93.887	long leg	$10.1M	$14.6M	20x
Bulk HYPE-USDshort	+0.0100%	1h	93.816	−0.076%	$204K	$5K	10x
KuCoin HYPEUSDTM	+0.0100%	4h	93.816	−0.076%	$46.5M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.860	−0.029%	$227.7M	$101.6M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.804	−0.089%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.909	+0.023%	$7.7M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.820	−0.071%	$31.3M	$54.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.863	−0.026%	$7.6M	$45.5M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.838	−0.052%	$679K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.867	−0.022%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.864	−0.025%	$479K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.941	+0.057%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.847	−0.043%	$2.0M	$2.0M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.843	−0.047%	$19.0M	$43.5M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.920	+0.035%	$4.9M	$5.5M	50x	as long as short
BloFin HYPE-USDT	+0.0165%	4h	93.844	−0.046%	$17.0M	$12.3M	75x	as long as short
Kalshi KXHYPEPERP	+0.0172%	8h	93.889	+0.002%	$1.9M	$5.1M	2.3x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.260	+0.397%	$31K	$338K	12x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	93.908	+0.022%	$2.8M	$6.8M	20x	as long as short
Reya HYPERUSDPERP	+0.0250%	1h	93.799	−0.094%	$79K	$146K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0157%	1h	93.847	−0.043%	$1.4M	—	100x	as long as short
HTX HYPE-USDT	+0.0365%	4h	94.122	+0.250%	$1.5M	$6.3M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0559%	1h	93.967	+0.085%	$7.5M	$4.7M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0672%	1h	93.939	+0.055%	$21.0M	$29.8M	50x	as long as short