Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= +0.1% APRpaid last 24h −0.003%

Price spread now: Pacifica against Paradex−0.013%7-day average +0.001% · 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−$19as in the Price arb table

costs, in and out, $10k−$180.175% of the position

Long on Paradex Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.002%$0 on $10k

Price spread, last 4 days (all we have)+0.035%+$4 · spread now −0.013%, 7d avg +0.001%

Together, before fees+0.033%+ Points / potential airdropParadex: Active · Pacifica: Active · farm board+$3 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex HYPE-USD-PERP	93.439	0.0100	pay 0.0100% / 8h	2h 35m	$339K	$170K	20x
Short	Pacifica HYPE	93.427	0.0100	get 0.0013% / 1h	35m 49s	$10.0M	$14.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.013%Rate

Funding earned: $0.1
Price spread: −0.013% → +0.001%: −$1.43
Slippage, 4 orders: −$5.53
Fee Paradex: 2 bp × 2 orders: −$4
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$18.85
Costs to cover: 0.175%
Break-even: 1269.5 days

Slippage from Paradex: live order book, 53 min ago; Pacifica: live order book, 3 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, 53 min ago	2.46 bp	4.5 bp −$4	11.1 bp −$111	doesn't fit	doesn't fit
Sell Pacifica live order book, 3 min ago	0.05 bp	4.1 bp −$4	doesn't fit	doesn't fit	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
Hibachi HYPE/USDT-P	−0.1120%	1h	93.436	−0.003%	$197K	$233K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0256%	1h	93.396	−0.046%	$22K	$22K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0254%	1h	93.350	−0.095%	$701K	$940K	10x	as long as short
01 Exchange HYPEUSD	−0.0088%	1h	93.435	−0.004%	$89K	$348K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.300	−0.149%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0016%	1h	93.392	−0.050%	$112K	$583K	20x	as long as short
Derive HYPE-PERP	−0.0003%	1h	93.345	−0.100%	$16.4M	$7.1M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.485	+0.049%	$127K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.417	−0.024%	$23K	$337K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.424	−0.017%	$20K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0015%	4h	93.426	−0.014%	$8.9M	$35.9M	300x	as long as short
Gate HYPE_USDT	+0.0018%	4h	93.409	−0.032%	$44.1M	$56.5M	75x	as long as short
Bybit HYPEUSDT	+0.0035%	8h	93.420	−0.020%	$325.5M	$287.4M	75x	as long as short
Phoenix HYPE	+0.0068%	1h	93.527	+0.094%	$216K	$1.2M	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0070%	4h	93.408	−0.033%	$180K	$529K	20x	as long as short
Popdex HYPEUSDT	+0.0080%	1h	93.399	−0.043%	$56K	$1.2M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.458	+0.020%	$18.5M	$59.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.417	−0.024%	$3.1M	$12.3M	20x	as long as short
Paradex HYPE-USD-PERPlong	+0.0100%	8h	93.439	long leg	$339K	$170K	20x
Katana Perps HYPE-USD	+0.0100%	8h	93.400	−0.042%	$40K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.405	−0.036%	$6.0M	$44.2M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.476	+0.040%	$2.03B	$667.9M	10x	as long as short
Pacifica HYPEshort	+0.0100%	1h	93.427	−0.013%	$10.0M	$14.4M	20x
Binance HYPEUSDT	+0.0100%	4h	93.424	−0.016%	$385.3M	$888.7M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.421	−0.019%	$114.8M	$315.3M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.395	−0.047%	$1.2M	$4.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.403	−0.039%	$204K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.411	−0.030%	$92.8M	$82.0M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.423	−0.017%	$46.4M	$18.9M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.475	+0.039%	$227.0M	$102.2M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.418	−0.022%	—	$54.2M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.436	−0.003%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.375	−0.068%	$28.9M	$49.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.408	−0.033%	$7.5M	$44.9M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.381	−0.062%	$405K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.490	+0.055%	$676K	$2.4M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.453	+0.015%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.436	−0.003%	$493K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.398	−0.044%	$76K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.443	+0.004%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.389	−0.053%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.407	−0.034%	$12.7M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.401	−0.040%	$18.4M	$41.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.373	−0.071%	$397K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0113%	4h	93.336	−0.110%	$5.1M	$29.5M	30x	as long as short
Kalshi KXHYPEPERP	+0.0116%	8h	93.483	+0.047%	$1.9M	$5.3M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.400	−0.042%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0245%	1h	93.397	−0.045%	$78K	$158K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0253%	1h	93.491	+0.056%	$7.4M	$4.6M	50x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.330	−0.117%	$30K	$231K	12x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0164%	1h	93.444	+0.006%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.449	+0.011%	$17.1M	$12.5M	75x	as long as short
HTX HYPE-USDT	+0.0340%	4h	93.662	+0.239%	$1.5M	$7.6M	75x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.477	+0.040%	$2.8M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0573%	1h	93.492	+0.056%	$19.2M	$25.9M	50x	as long as short