Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: SunX against Pacifica+0.005%7-day average +0.042% · you sell dearer than you buy

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$670.675% of the position

Long on Pacifica Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.097%+$10 on $10k

Price spread, last 3 days (all we have)+0.022%+$2 · spread now +0.005%, 7d avg +0.042%

Together, before fees+0.119%+ Points / potential airdropPacifica: Active · farm board+$12 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: SunX is 0.037% cheaper against Pacifica than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.042%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica HYPE	93.745	0.0100	pay 0.0013% / 1h	30m 32s	$10.1M	$14.8M	20x
Short	SunX HYPE-USDT	93.749	0.0100	get 0.0050% / 4h	2h 30m	$32K	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.005%Rate

Funding earned: $0
Price spread: +0.005% → +0.042%: −$3.72
Slippage, 4 orders: −$51.49
Fee Pacifica: 4 bp × 2 orders: −$8
Fee SunX: 4 bp × 2 orders: −$8
Net: −$71.21
Costs to cover: 0.675%
Break-even: never at this rate

Slippage from Pacifica: live order book, 4 min ago; SunX: 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, 4 min ago	0.43 bp	4.8 bp −$5	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 5 min ago	19.34 bp	32.8 bp −$33	doesn't fit	doesn't fit	doesn't fit

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	−0.0888%	1h	93.597	−0.157%	$197K	$229K	7x	as long as short
Arcus HYPE-USD	−0.0786%	1h	93.607	−0.147%	$1.2M	$3.8M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0162%	1h	93.464	−0.299%	$22K	$21K	10x	as long as short
Phemex HYPEUSDT	−0.0112%	8h	93.655	−0.096%	$12.7M	$2.7M	50x	as long as short
Ondo Perps HYPE-USD.P	−0.0086%	1h	93.600	−0.154%	$701K	$987K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.716	−0.030%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0057%	4h	93.638	−0.114%	$156K	$651K	20x	as long as short
01 Exchange HYPEUSD	−0.0056%	1h	93.787	+0.045%	$86K	$351K	20x	as long as short
Backpack HYPE_USDC_PERP	−0.0052%	1h	93.636	−0.116%	$7.8M	$10.3M	20x	as long as short
Gate HYPE_USDT	−0.0044%	4h	93.724	−0.022%	$44.5M	$54.7M	75x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	−0.0014%	4h	93.719	−0.027%	$8.9M	$36.0M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.699	−0.049%	$128K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.668	−0.082%	$22K	$331K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.691	−0.058%	$26K	—	150x	as long as short
Bybit HYPEUSDT	+0.0006%	8h	93.750	+0.006%	$322.1M	$282.7M	75x	as long as short
BingX HYPE-USDT	+0.0006%	4h	93.716	−0.030%	—	$53.9M	—	as long as short
MEXC HYPE_USDT	+0.0054%	4h	93.734	−0.011%	$88.2M	$82.7M	100x	as long as short
Bullet HYPE-USD	+0.0055%	1h	93.673	−0.076%	$112K	$578K	20x	as long as short
edgeX HYPEUSDC	+0.0059%	4h	93.458	−0.306%	$5.1M	$30.0M	30x	as long as short
Binance HYPEUSDT	+0.0060%	4h	93.752	+0.008%	$381.4M	$898.1M	75x	as long as short
Phoenix HYPE	+0.0060%	1h	93.705	−0.042%	$211K	$1.2M	10x	as long as short
OKX HYPE-USDT-SWAP	+0.0066%	8h	93.753	+0.009%	$115.3M	$310.2M	50x	as long as short
Derive HYPE-PERP	+0.0079%	1h	93.634	−0.118%	$16.2M	$7.7M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	93.804	+0.063%	$341K	$164K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.714	−0.033%	$16.4M	$62.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.712	−0.035%	$3.1M	$11.9M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.755	+0.011%	$66K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.677	−0.072%	$398K	$177K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.730	−0.016%	$21K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.725	−0.021%	$5.7M	$45.2M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.792	+0.051%	$2.05B	$670.4M	10x	as long as short
Pacifica HYPElong	+0.0100%	1h	93.745	long leg	$10.1M	$14.8M	20x
KuCoin HYPEUSDTM	+0.0100%	4h	93.728	−0.018%	$46.2M	$18.4M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.759	+0.015%	$226.8M	$99.4M	75x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.610	−0.143%	$31.0M	$54.8M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.468	−0.295%	$7.5M	$48.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.468	−0.295%	$338K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.655	−0.096%	$668K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.775	+0.032%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.788	+0.046%	$469K	$2.4M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.645	−0.106%	$79K	$172K	20x	as long as short
SunX HYPE-USDTshort	+0.0100%	4h	93.749	+0.005%	$32K	$1.6M	20x
SoDEX HYPE-USD	+0.0100%	1h	93.652	−0.099%	$2.0M	$1.9M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.348	−0.423%	$203K	$10K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.702	−0.045%	$18.3M	$44.4M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0136%	1h	93.720	−0.026%	$4.9M	$5.6M	50x	as long as short
Injective HYPE/USDC PERP	+0.0137%	1h	93.610	−0.144%	$30K	$339K	12x	as long as short
RISEx HYPE/USDC	+0.0210%	1h	93.774	+0.031%	$3.0M	$6.8M	20x	as long as short
HTX HYPE-USDT	+0.0217%	4h	93.807	+0.067%	$1.4M	$5.9M	75x	as long as short
Reya HYPERUSDPERP	+0.0254%	1h	93.749	+0.004%	$80K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0267%	8h	93.719	−0.027%	$1.9M	$5.1M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0335% / S −0.0158%	1h	93.689	−0.060%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0486%	1h	93.767	+0.024%	$7.5M	$4.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0680%	1h	93.751	+0.007%	$20.9M	$30.1M	50x	as long as short