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= 0.0% APRpaid last 24h 0.000%

Price spread now: Pacifica against Variational Omni−0.023%7-day average +0.025% · you buy dearer than you sell

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

Long on Variational Omni Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.006%+$1 on $10k

Price spread, last 7 days+0.040%+$4 · spread now −0.023%, 7d avg +0.025%

Together, before fees+0.046%+ Points / potential airdropVariational Omni: Active · Pacifica: Active · farm board+$5 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: Pacifica is 0.048% cheaper against Variational Omni than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni HYPE	93.660	0.0100	pay 0.0100% / 8h	2h 17m	$29.2M	$50.1M	—
Short	Pacifica HYPE	93.638	0.0100	get 0.0013% / 1h	17m 23s	$10.0M	$14.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Variational Omni. 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 Variational OmnibpFee PacificabpOrdersPrice spread, now −0.023%Rate

Funding earned: $0
Price spread: −0.023% → +0.025%: −$4.83
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$12.83
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Pacifica: live order book, 2 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 Variational Omni RFQ quote, 2 min ago	0.44 bp	doesn't fit	2.6 bp −$26	12.1 bp −$1,206	doesn't fit
Sell Pacifica live order book, 2 min ago	0.05 bp	4.3 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	−0.0984%	1h	93.593	−0.072%	$198K	$233K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0283%	1h	93.650	−0.011%	$22K	$22K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0234%	1h	93.590	−0.075%	$703K	$934K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.603	−0.061%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0064%	1h	93.621	−0.041%	$90K	$347K	20x	as long as short
Bullet HYPE-USD	−0.0024%	1h	93.600	−0.064%	$112K	$582K	20x	as long as short
Derive HYPE-PERP	−0.0021%	1h	93.515	−0.155%	$16.4M	$7.0M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.645	−0.016%	$127K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.597	−0.067%	$23K	$337K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.649	−0.012%	$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	+0.0021%	4h	93.606	−0.057%	$9.0M	$35.8M	300x	as long as short
Gate HYPE_USDT	+0.0032%	4h	93.602	−0.062%	$44.1M	$57.2M	75x	as long as short
Bybit HYPEUSDT	+0.0035%	8h	93.610	−0.053%	$326.0M	$287.0M	75x	as long as short
Popdex HYPEUSDT	+0.0056%	1h	93.601	−0.063%	$59K	$1.2M	50x	as long as short
Orderly PERP_HYPE_USDC	+0.0060%	4h	93.625	−0.037%	$176K	$538K	20x	as long as short
Phoenix HYPE	+0.0068%	1h	93.603	−0.061%	$216K	$1.2M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.659	0.000%	$18.6M	$59.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.644	−0.017%	$3.1M	$12.4M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0100%	8h	93.626	−0.037%	$340K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.620	−0.043%	$37K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.615	−0.048%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.711	+0.055%	$2.04B	$670.4M	10x	as long as short
Pacifica HYPEshort	+0.0100%	1h	93.638	−0.023%	$10.0M	$14.4M	20x
Binance HYPEUSDT	+0.0100%	4h	93.609	−0.054%	$386.2M	$889.1M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.589	−0.076%	$115.0M	$316.0M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.581	−0.084%	$1.2M	$4.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.690	+0.032%	$205K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.599	−0.065%	$93.8M	$82.3M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.615	−0.048%	$46.5M	$18.7M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.623	−0.039%	$227.4M	$102.4M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.609	−0.054%	—	$54.3M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.598	−0.066%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPElong	+0.0100%	8h	93.660	long leg	$29.2M	$50.1M	—
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.579	−0.086%	$7.5M	$45.3M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.678	+0.019%	$407K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.594	−0.070%	$677K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.638	−0.024%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.646	−0.015%	$494K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.578	−0.087%	$76K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.628	−0.034%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.564	−0.102%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.601	−0.063%	$12.8M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.604	−0.060%	$18.3M	$41.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.545	−0.122%	$398K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0107%	4h	93.571	−0.095%	$5.1M	$29.7M	30x	as long as short
Kalshi KXHYPEPERP	+0.0122%	8h	93.639	−0.022%	$1.9M	$5.3M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.680	+0.022%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0246%	1h	93.614	−0.048%	$78K	$158K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0273%	1h	93.682	+0.024%	$7.4M	$4.6M	50x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.520	−0.149%	$30K	$291K	12x	as long as short
HTX HYPE-USDT	+0.0299%	4h	93.730	+0.075%	$1.5M	$7.6M	75x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.565	−0.101%	$17.0M	$12.4M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0346% / S −0.0171%	1h	93.654	−0.006%	$1.5M	—	100x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.674	+0.015%	$2.8M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0572%	1h	93.682	+0.024%	$19.2M	$26.0M	50x	as long as short