Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.1044%/8h= −114.3% APRpaid last 24h −0.085%

Price spread now: Arcus against Paradex−0.073%7-day average −0.056% · 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−$37as in the Price arb table

costs, in and out, $10k−$360.355% of the position

Long on Paradex Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.116%−$12 on $10k

Price spread, last 4 days (all we have)+0.190%+$19 · spread now −0.073%, 7d avg −0.056%

Together, before fees+0.073%+ Points / potential airdropParadex: Active · farm board+$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.056%, so right now this pair is about funding alone: −$31 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.116% in total (about -11.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex HYPE-USD-PERP	92.903	0.0096	pay 0.0096% / 8h	4h 00m	$339K	$163K	20x
Short	Arcus HYPE-USD	92.835	−0.0948	pay 0.0119% / 1h	0m 25s	$1.1M	$3.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Paradex. 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 ParadexbpFee ArcusbpOrdersPrice spread, now −0.073%Rate

Funding earned: −$219.16
Price spread: −0.073% → −0.056%: −$1.66
Slippage, 4 orders: −$27.03
Fee Paradex: 2 bp × 2 orders: −$4
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$256.35
Costs to cover: 0.355%
Break-even: never at this rate

Slippage from Paradex: live order book, 59 min ago; Arcus: live order book, 4 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 Paradex live order book, 59 min ago	12.88 bp	14.9 bp −$15	149.0 bp −$1,490	doesn't fit	doesn't fit
Sell Arcus live order book, 4 min ago	0.43 bp	3.1 bp −$3	9.3 bp −$93	31.0 bp −$3,097	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-USDshort	−0.0948%	1h	92.835	−0.073%	$1.1M	$3.9M	10x
Hibachi HYPE/USDT-P	−0.0440%	1h	92.759	−0.155%	$193K	$227K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0280%	1h	92.833	−0.075%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.875	−0.030%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0064%	4h	92.860	−0.046%	$157K	$653K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.865	−0.041%	$127K	$29K	5x	as long as short
01 Exchange HYPEUSD	0.0000%	1h	92.902	−0.001%	$86K	$361K	20x	as long as short
Perpl HYPE	0.0000%	43m	92.894	−0.010%	$22K	$302K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.907	+0.004%	$62K	—	150x	as long as short
Phemex HYPEUSDT	+0.0026%	8h	92.875	−0.030%	$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	+0.0030%	1h	92.843	−0.064%	$112K	$579K	20x	as long as short
BingX HYPE-USDT	+0.0036%	4h	92.878	−0.027%	—	$53.5M	—	as long as short
Phoenix HYPE	+0.0043%	1h	92.755	−0.159%	$210K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0045%	8h	92.870	−0.035%	$316.7M	$281.3M	75x	as long as short
Ondo Perps HYPE-USD.P	+0.0049%	1h	92.810	−0.100%	$698K	$1.1M	10x	as long as short
Aster HYPEUSDT	+0.0068%	4h	92.884	−0.020%	$8.7M	$36.1M	300x	as long as short
Bitget HYPEUSDT	+0.0086%	4h	92.883	−0.021%	$224.8M	$98.7M	75x	as long as short
edgeX HYPEUSDC	+0.0095%	4h	92.845	−0.062%	$4.9M	$29.6M	30x	as long as short
Paradex HYPE-USD-PERPlong	+0.0096%	8h	92.903	long leg	$339K	$163K	20x
Lighter HYPE	+0.0096%	1h	92.891	−0.013%	$16.1M	$62.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.901	−0.002%	$3.1M	$11.8M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.876	−0.029%	$69K	$1.1M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0098%	8h	92.895	−0.008%	$113.9M	$303.7M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.860	−0.046%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.885	−0.019%	$7.4M	$45.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.913	+0.011%	$2.02B	$663.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.895	−0.008%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.908	+0.006%	$373.3M	$901.9M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.800	−0.111%	$202K	$13K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	92.870	−0.035%	$44.4M	$55.6M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.882	−0.022%	$88.3M	$81.2M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.878	−0.027%	$46.1M	$18.4M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.893	−0.011%	$7.3M	$11.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.859	−0.048%	$28.5M	$57.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.903	0.000%	$7.5M	$46.3M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.856	−0.050%	$350K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.868	−0.038%	$667K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.923	+0.021%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.910	+0.008%	$469K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.881	−0.024%	$79K	$168K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.843	−0.064%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.882	−0.022%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.893	−0.011%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.016	+0.122%	$1.4M	$6.3M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.840	−0.068%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.871	−0.034%	$393K	$164K	20x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	92.960	+0.061%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.950	+0.051%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0225%	8h	92.939	+0.039%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0263%	1h	92.871	−0.035%	$79K	$131K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0310%	1h	92.965	+0.067%	$7.5M	$4.5M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.864	−0.041%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0331%	1h	92.937	+0.037%	$20.6M	$30.4M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.879	−0.026%	$16.8M	$11.6M	75x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.937	+0.036%	$3.2M	$6.4M	20x	as long as short