Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0060%/8h= −6.6% APRpaid last 24h −0.027%

Price spread now: gTrade (Gains Network) against Paradex+0.085%7-day average −0.014% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Paradex Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.104%−$10 on $10k

Price spread, last 4 days (all we have)+0.014%+$1 · spread now +0.085%, 7d avg −0.014%

Together, before fees−0.089%+ Points / potential airdropParadex: Active · farm board−$9 on $10k · with fees, hour by hour

The price spread pays, funding is against you. gTrade (Gains Network) is 0.099% dearer against Paradex than usual: you sell high and buy low (spread +0.085% now, against its 7-day average of −0.014%): +$10 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 5.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex HYPE-USD-PERP	94.880	0.0061	pay 0.0061% / 8h	6h 20m	$339K	$36K	20x
Short	gTrade (Gains Network) HYPE/USD	94.960	L +0.0002% / S −0.0001%	get 0.0000% / 1h	20m 19s	$99K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Paradex. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 gTrade (Gains Network)bpOrdersPrice spread, now +0.085%Rate

Funding earned: −$12.6
Price spread: +0.085% → −0.014%: $9.87
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$16.73
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Paradex: live order book, 32 min ago; gTrade (Gains Network): no order-book sample. Net counts fees only.

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, 32 min ago	1.42 bp	3.4 bp −$3	8.3 bp −$83	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

HYPE on 54 exchanges

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	−0.1400%	1h	94.856	−0.025%	$211K	$262K	7x	as long as short
Bluefin HYPE-PERP	−0.0587%	1h	94.916	+0.038%	$79K	$140K	20x	as long as short
Kraken Futures PF_HYPEUSD	−0.0377%	1h	94.922	+0.045%	$18.6M	$35.5M	50x	as long as short
Bullet HYPE-USD	−0.0341%	1h	94.901	+0.022%	$113K	$581K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0251%	1h	94.960	+0.085%	$691K	$1.3M	10x	as long as short
Phemex HYPEUSDT	−0.0180%	8h	94.864	−0.016%	$12.9M	$2.8M	50x	as long as short
Arcus HYPE-USD	−0.0159%	1h	94.887	+0.008%	$1.1M	$2.6M	10x	as long as short
01 Exchange HYPEUSD	−0.0152%	1h	94.944	+0.068%	$91K	$349K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0148%	1h	94.953	+0.077%	$22K	$17K	10x	as long as short
Vest HYPE-PERP	−0.0091%	1h	94.974	+0.099%	—	$80K	5x	as long as short

Show all 54 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hotstuff HYPE-PERP	−0.0080%	1h	94.911	+0.033%	$3K	$331	25x	as long as short
Gate HYPE_USDT	−0.0070%	4h	94.908	+0.030%	$54.1M	$54.6M	75x	as long as short
Coinbase International HYPE-PERP-INTX	−0.0024%	1h	94.940	+0.064%	$4.7M	$5.6M	50x	as long as short
Orderly PERP_HYPE_USDC	−0.0022%	4h	94.883	+0.004%	$147K	$646K	20x	as long as short
SoDEX HYPE-USD	−0.0011%	1h	94.909	+0.031%	$2.1M	$378K	10x	as long as short
Aster HYPEUSDT	−0.0001%	4h	94.892	+0.013%	$9.0M	$34.5M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.928	+0.051%	$130K	$92K	5x	as long as short
Perpl HYPE	0.0000%	43m	94.927	+0.050%	$23K	$268K	10x	as long as short
OKX HYPE-USDT-SWAP	+0.0002%	8h	94.908	+0.030%	$118.7M	$312.7M	50x	as long as short
gTrade (Gains Network) HYPE/USDshort	L +0.0002% / S −0.0001%	1h	94.960	+0.085%	$99K	—	150x
BingX HYPE-USDT	+0.0002%	4h	94.913	+0.035%	—	$49.2M	—	as long as short
Phoenix HYPE	+0.0017%	1h	94.881	+0.002%	$200K	$1.0M	10x	as long as short
Bulk HYPE-USD	+0.0031%	1h	95.069	+0.200%	$231K	$12K	10x	as long as short
Bybit HYPEUSDT	+0.0031%	8h	94.915	+0.037%	$319.8M	$272.6M	75x	as long as short
Bitget HYPEUSDT	+0.0034%	4h	94.916	+0.038%	$228.0M	$89.9M	75x	as long as short
Lighter HYPE	+0.0040%	1h	94.905	+0.027%	$16.2M	$61.1M	20x	as long as short
Paradex HYPE-USD-PERPlong	+0.0061%	8h	94.880	long leg	$339K	$36K	20x
Polymarket Perps HYPE-USD	+0.0081%	1h	94.940	+0.064%	$499K	$2.5M	20x	as long as short
edgeX HYPEUSDC	+0.0088%	4h	94.823	−0.060%	$5.0M	$29.9M	30x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.920	+0.043%	$3.2M	$10.0M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.923	+0.046%	$270K	$1.1M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	94.870	−0.010%	$39K	$1.5M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.885	+0.006%	$7.3M	$53.2M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	95.019	+0.146%	$2.10B	$656.7M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.915	+0.037%	$10.2M	$13.7M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.896	+0.017%	$381.3M	$877.9M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.903	+0.025%	$89.2M	$87.6M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.919	+0.042%	$47.2M	$17.9M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	95.000	+0.127%	$7.8M	$10.2M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.906	+0.027%	$29.8M	$54.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.825	−0.058%	$7.7M	$41.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.830	−0.052%	$347K	$972K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	95.018	+0.146%	$692K	$2.7M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.942	+0.066%	$32K	$1.4M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.966	+0.091%	$1.4M	$6.4M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.887	+0.007%	$18.2M	$40.9M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.884	+0.005%	$401K	$130K	20x	as long as short
Kalshi KXHYPEPERP	+0.0108%	8h	94.987	+0.113%	$1.8M	$5.2M	2.3x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0150%	1h	94.997	+0.124%	$7.5M	$4.3M	50x	as long as short
RISEx HYPE/USDC	+0.0166%	1h	94.939	+0.063%	$3.2M	$5.9M	20x	as long as short
Reya HYPERUSDPERP	+0.0270%	1h	94.884	+0.004%	$85K	$99K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0155%	1h	94.960	+0.085%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.965	+0.090%	$17.3M	$11.8M	75x	as long as short
Injective HYPE/USDC PERP	+0.0850%	1h	95.480	+0.633%	$31K	$335K	12x	as long as short