Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0003%/8h= −0.3% APRpaid last 24h −0.024%

Price spread now: OKX against Pacifica−0.019%7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$210.207% of the position

Long on Pacifica Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.029%+$3 on $10k

Price spread, last 7 days+0.022%+$2 · spread now −0.019%, 7d avg −0.012%

Together, before fees+0.051%+ Points / potential airdropPacifica: Active · farm board+$5 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica HYPE	92.886	0.0100	pay 0.0013% / 1h	3m 07s	$10.0M	$15.2M	20x
Short	OKX HYPE-USDT-SWAP	92.868	0.0097	get 0.0097% / 8h	4h 03m	$113.9M	$303.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.019%Rate

Funding earned: −$0.6
Price spread: −0.019% → −0.012%: −$0.7
Slippage, 4 orders: −$2.7
Fee Pacifica: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$22
Costs to cover: 0.207%
Break-even: never at this rate

Slippage from Pacifica: live order book, 1 min ago; OKX: live order book, 6 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, 1 min ago	0.05 bp	4.5 bp −$4	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 6 min ago	0.05 bp	5.7 bp −$6	8.6 bp −$86	18.0 bp −$1,800	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
Arcus HYPE-USD	−0.0948%	1h	92.818	−0.073%	$1.1M	$3.9M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0368%	1h	92.692	−0.209%	$194K	$227K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0267%	1h	92.799	−0.093%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.865	−0.023%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0065%	4h	92.837	−0.053%	$157K	$654K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.865	−0.023%	$127K	$29K	5x	as long as short
01 Exchange HYPEUSD	0.0000%	1h	92.876	−0.011%	$87K	$361K	20x	as long as short
Perpl HYPE	0.0000%	43m	92.879	−0.008%	$22K	$302K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.890	+0.004%	$62K	—	150x	as long as short
Phemex HYPEUSDT	+0.0023%	8h	92.851	−0.038%	$12.5M	$2.7M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet HYPE-USD	+0.0028%	1h	92.834	−0.056%	$111K	$579K	20x	as long as short
BingX HYPE-USDT	+0.0036%	4h	92.866	−0.022%	—	$53.5M	—	as long as short
Ondo Perps HYPE-USD.P	+0.0037%	1h	92.800	−0.093%	$697K	$1.1M	10x	as long as short
Phoenix HYPE	+0.0043%	1h	92.755	−0.141%	$210K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0045%	8h	92.860	−0.028%	$316.9M	$281.1M	75x	as long as short
Aster HYPEUSDT	+0.0063%	4h	92.872	−0.015%	$8.7M	$36.1M	300x	as long as short
Bitget HYPEUSDT	+0.0090%	4h	92.856	−0.032%	$224.8M	$98.6M	75x	as long as short
edgeX HYPEUSDC	+0.0094%	4h	92.749	−0.148%	$4.9M	$29.6M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	92.886	0.000%	$339K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.880	−0.006%	$16.1M	$62.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.885	−0.001%	$3.1M	$11.8M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.860	−0.028%	$69K	$1.1M	50x	as long as short
OKX HYPE-USDT-SWAPshort	+0.0097%	8h	92.868	−0.019%	$113.9M	$303.9M	50x
Katana Perps HYPE-USD	+0.0099%	8h	92.860	−0.028%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.859	−0.029%	$7.5M	$45.6M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.901	+0.016%	$2.02B	$663.2M	10x	as long as short
Pacifica HYPElong	+0.0100%	1h	92.886	long leg	$10.0M	$15.2M	20x
Binance HYPEUSDT	+0.0100%	4h	92.877	−0.010%	$373.2M	$901.7M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.800	−0.093%	$202K	$13K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	92.857	−0.031%	$44.5M	$55.4M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.875	−0.012%	$88.3M	$81.2M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.886	0.000%	$46.1M	$18.4M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.871	−0.016%	$7.3M	$11.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.689	−0.212%	$28.5M	$57.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.776	−0.119%	$7.5M	$46.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.773	−0.122%	$350K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.827	−0.064%	$667K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.888	+0.002%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.896	+0.011%	$468K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.850	−0.039%	$79K	$168K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.828	−0.062%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.846	−0.043%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.871	−0.016%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.998	+0.121%	$1.4M	$6.3M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.839	−0.050%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.850	−0.039%	$393K	$164K	20x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	92.960	+0.080%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.930	+0.047%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0227%	8h	92.923	+0.040%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0263%	1h	92.860	−0.028%	$79K	$131K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0321%	1h	92.951	+0.070%	$7.5M	$4.5M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.859	−0.029%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0331%	1h	92.934	+0.052%	$20.6M	$30.4M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.869	−0.018%	$16.8M	$11.6M	75x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.920	+0.036%	$3.2M	$6.4M	20x	as long as short