Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:23 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.014%

Price spread now: KuCoin against Perpl−0.017%7-day average −0.020% · you buy dearer than you sell

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

Long on Perpl Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.142%+$14 on $10k

Price spread, last 4 days (all we have)−1.173%−$117 · spread now −0.017%, 7d avg −0.020%

Together, before fees−1.030%+ Points / potential airdropPerpl: Active · farm board−$103 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.020%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Perpl HYPE	94.719	0	get 0.0000% / 43m	29m 27s	$19K	$285K	10x
Short	KuCoin HYPEUSDTM	94.703	0.0100	get 0.0050% / 4h	3h 57m	$46.9M	$18.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Perpl. 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 PerplbpFee KuCoinbpOrdersPrice spread, now −0.017%Rate

Funding earned: $21
Price spread: −0.017% → −0.020%: $0.27
Slippage, 4 orders: no order book: not counted
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$4.53
Costs to cover: 0.258%
Break-even: 8.5 days

Slippage unknown: Perpl: no order-book sample; KuCoin: live order book, 12 min ago. 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 Perpl no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 12 min ago	0.37 bp	10.3 bp −$10	17.2 bp −$172	doesn't fit	doesn't fit

Perpl: 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 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	−0.1472%	1h	94.558	−0.171%	$207K	$268K	7x	as long as short
Phemex HYPEUSDT	−0.0602%	8h	94.659	−0.064%	$12.9M	$2.9M	50x	as long as short
Bluefin HYPE-PERP	−0.0302%	1h	94.672	−0.050%	$80K	$151K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0253%	1h	94.600	−0.126%	$22K	$20K	10x	as long as short
Arcus HYPE-USD	−0.0112%	1h	94.697	−0.024%	$1.0M	$3.5M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0085%	1h	94.610	−0.115%	$712K	$1.2M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.668	−0.054%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0072%	1h	94.763	+0.046%	$87K	$364K	20x	as long as short
Kraken Futures PF_HYPEUSD	−0.0047%	1h	94.698	−0.023%	$20.3M	$30.2M	50x	as long as short
Orderly PERP_HYPE_USDC	−0.0007%	4h	94.657	−0.066%	$147K	$686K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX HYPE-USD	0.0000%	1h	94.666	−0.057%	$130K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.812	+0.098%	$1.9M	$5.5M	2.3x	as long as short
Phoenix HYPE	0.0000%	1h	94.723	+0.004%	$210K	$1.2M	10x	as long as short
Perpl HYPElong	0.0000%	43m	94.719	long leg	$19K	$285K	10x
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.747	+0.029%	$124K	—	150x	as long as short
Derive HYPE-PERP	+0.0008%	1h	94.543	−0.187%	$16.3M	$7.3M	10x	as long as short
Bitget HYPEUSDT	+0.0014%	4h	94.718	−0.001%	$227.2M	$100.5M	75x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0016%	1h	94.660	−0.063%	$4.7M	$6.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0048%	8h	94.710	−0.010%	$338K	$154K	20x	as long as short
Lighter HYPE	+0.0064%	1h	94.682	−0.039%	$16.2M	$61.7M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0064%	8h	94.750	+0.032%	$118.0M	$327.3M	50x	as long as short
Vest HYPE-PERP	+0.0076%	1h	94.792	+0.077%	—	$190K	5x	as long as short
Bybit HYPEUSDT	+0.0085%	8h	94.720	+0.001%	$318.2M	$288.8M	75x	as long as short
edgeX HYPEUSDC	+0.0092%	4h	94.580	−0.148%	$5.0M	$30.6M	30x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.682	−0.039%	$3.2M	$10.2M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.740	+0.022%	$121K	$1.2M	50x	as long as short
Gate HYPE_USDT	+0.0096%	4h	94.677	−0.045%	$50.8M	$53.5M	75x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.700	−0.020%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.698	−0.022%	$7.3M	$53.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.823	+0.109%	$2.08B	$690.2M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.722	+0.003%	$8.9M	$37.3M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.713	−0.007%	$10.2M	$14.8M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.725	+0.006%	$379.9M	$934.1M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.685	−0.037%	$219K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.742	+0.024%	$93.6M	$84.5M	100x	as long as short
KuCoin HYPEUSDTMshort	+0.0100%	4h	94.703	−0.017%	$46.9M	$18.9M	75x
BingX HYPE-USDT	+0.0100%	4h	94.679	−0.043%	—	$53.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.621	−0.104%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.532	−0.198%	$29.7M	$55.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.625	−0.100%	$7.6M	$44.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.574	−0.154%	$351K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.684	−0.037%	$696K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.799	+0.084%	$500K	$2.8M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	94.687	−0.034%	$112K	$575K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.764	+0.047%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.669	−0.053%	$2.1M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.764	+0.047%	$1.4M	$6.9M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.674	−0.048%	$18.4M	$43.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.719	−0.001%	$400K	$153K	20x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	94.762	+0.045%	$3.2M	$6.4M	20x	as long as short
Injective HYPE/USDC PERP	+0.0153%	1h	94.840	+0.127%	$31K	$339K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0246%	1h	94.764	+0.047%	$7.5M	$4.4M	50x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.673	−0.049%	$83K	$120K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0327% / S −0.0152%	1h	94.705	−0.016%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.604	−0.122%	$17.1M	$12.4M	75x	as long as short