Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.008%

Price spread now: KuCoin against SunX+0.019%7-day average −0.070% · you sell dearer than you buy

Net, funding: paid 7d − costs−$148as in the Funding arb table

Net, price: spread back to 7d avg − costs−$138as in the Price arb table

costs, in and out, $10k−$1471.467% of the position

Long on SunX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.017%−$2 on $10k

Price spread, last 3 days (all we have)−0.062%−$6 · spread now +0.019%, 7d avg −0.070%

Together, before fees−0.078%−$8 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: KuCoin is 0.089% dearer against SunX than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.070%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX HYPE-USDT	93.973	0.0100	pay 0.0050% / 4h	1m 38s	$32K	$1.6M	20x
Short	KuCoin HYPEUSDTM	93.991	0.0100	get 0.0050% / 4h	1m 38s	$46.5M	$18.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against SunX. 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 SunXbpFee KuCoinbpOrdersPrice spread, now +0.019%Rate

Funding earned: $0
Price spread: +0.019% → −0.070%: $8.9
Slippage, 4 orders: −$126.69
Fee SunX: 4 bp × 2 orders: −$8
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$137.79
Costs to cover: 1.467%
Break-even: never at this rate

Slippage from SunX: live order book, 3 min ago; KuCoin: live order book, 7 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 SunX live order book, 3 min ago	54.37 bp	59.1 bp −$59	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 7 min ago	0.05 bp	6.9 bp −$7	13.0 bp −$130	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	−0.1376%	1h	93.897	−0.081%	$199K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0346%	1h	93.948	−0.026%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	93.874	−0.105%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0133%	1h	93.930	−0.046%	$705K	$925K	10x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	93.924	−0.052%	$86K	$368K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.931	−0.045%	$3K	$331	25x	as long as short
Derive HYPE-PERP	−0.0012%	1h	93.900	−0.078%	$16.4M	$7.2M	10x	as long as short
dYdX HYPE-USD	−0.0007%	1h	93.976	+0.003%	$128K	$30K	5x	as long as short
Orderly PERP_HYPE_USDC	−0.0006%	4h	93.984	+0.012%	$169K	$594K	20x	as long as short
Perpl HYPE	0.0000%	43m	93.978	+0.006%	$23K	$329K	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.990	+0.018%	$27K	—	150x	as long as short
Phoenix HYPE	+0.0009%	1h	93.898	−0.080%	$217K	$1.2M	10x	as long as short
Aster HYPEUSDT	+0.0015%	4h	93.983	+0.011%	$8.9M	$36.1M	300x	as long as short
Bybit HYPEUSDT	+0.0018%	8h	93.990	+0.018%	$323.5M	$283.9M	75x	as long as short
Phemex HYPEUSDT	+0.0030%	8h	93.928	−0.048%	$12.8M	$2.6M	50x	as long as short
Binance HYPEUSDT	+0.0046%	4h	93.988	+0.016%	$384.1M	$898.7M	75x	as long as short
MEXC HYPE_USDT	+0.0046%	4h	93.988	+0.016%	$88.4M	$82.3M	100x	as long as short
edgeX HYPEUSDC	+0.0064%	4h	93.859	−0.121%	$5.1M	$29.7M	30x	as long as short
Popdex HYPEUSDT	+0.0064%	1h	93.930	−0.046%	$60K	$1.2M	50x	as long as short
Gate HYPE_USDT	+0.0068%	4h	93.993	+0.021%	$44.2M	$60.1M	75x	as long as short
Bullet HYPE-USD	+0.0073%	1h	93.939	−0.036%	$112K	$578K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0088%	8h	93.983	+0.011%	$116.0M	$322.9M	50x	as long as short
Lighter HYPE	+0.0096%	1h	94.036	+0.067%	$18.9M	$60.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.015	+0.045%	$3.1M	$12.3M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.967	−0.006%	$400K	$318K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	94.040	+0.071%	$42K	$1.6M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	94.030	+0.061%	$342K	$171K	20x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.941	−0.034%	$6.6M	$44.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.084	+0.118%	$2.05B	$680.1M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.017	+0.047%	$10.1M	$14.5M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.889	−0.090%	$205K	$7K	10x	as long as short
KuCoin HYPEUSDTMshort	+0.0100%	4h	93.991	+0.019%	$46.5M	$18.6M	75x
Bitget HYPEUSDT	+0.0100%	4h	94.003	+0.032%	$227.7M	$102.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.980	+0.007%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.001	+0.030%	$7.9M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.812	−0.171%	$31.3M	$54.2M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.864	−0.117%	$7.6M	$45.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.817	−0.166%	$340K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.046	+0.078%	$680K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.005	+0.034%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.996	+0.024%	$472K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.963	−0.011%	$76K	$171K	20x	as long as short
SunX HYPE-USDTlong	+0.0100%	4h	93.973	long leg	$32K	$1.6M	20x
SoDEX HYPE-USD	+0.0100%	1h	93.967	−0.006%	$2.0M	$2.0M	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.410	+0.465%	$31K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.976	+0.003%	$18.4M	$42.8M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	94.070	+0.103%	$4.9M	$5.7M	50x	as long as short
Kalshi KXHYPEPERP	+0.0157%	8h	94.054	+0.086%	$1.9M	$5.1M	2.3x	as long as short
BloFin HYPE-USDT	+0.0185%	4h	93.999	+0.028%	$17.0M	$12.6M	75x	as long as short
HTX HYPE-USDT	+0.0194%	4h	94.100	+0.135%	$1.5M	$7.8M	75x	as long as short
Reya HYPERUSDPERP	+0.0250%	1h	93.966	−0.008%	$77K	$142K	15x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	94.041	+0.073%	$2.8M	$6.9M	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0324%	1h	94.067	+0.100%	$7.5M	$4.6M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0156%	1h	93.993	+0.021%	$1.5M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0577%	1h	94.082	+0.116%	$21.0M	$29.5M	50x	as long as short