Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0146%/8h= +16.0% APRpaid last 24h −0.006%

Price spread now: Gate against 01 Exchange−0.012%7-day average −0.048% · 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−$33as in the Price arb table

costs, in and out, $10k−$370.366% of the position

Long on 01 Exchange Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.010%−$1 on $10k

Price spread, last 4 days (all we have)−0.020%−$2 · spread now −0.012%, 7d avg −0.048%

Together, before fees−0.030%−$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Gate is 0.036% dearer against 01 Exchange than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.048%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange HYPEUSD	93.830	−0.0072	get 0.0009% / 1h	11m 03s	$86K	$368K	20x
Short	Gate HYPE_USDT	93.819	0.0074	get 0.0037% / 4h	11m 03s	$44.1M	$59.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against 01 Exchange. 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 01 ExchangebpFee GatebpOrdersPrice spread, now −0.012%Rate

Funding earned: $30.66
Price spread: −0.012% → −0.048%: $3.63
Slippage, 4 orders: −$14.58
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$2.29
Costs to cover: 0.366%
Break-even: 7.5 days

Slippage from 01 Exchange: live order book, 3 min ago; Gate: 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 01 Exchange live order book, 3 min ago	0.16 bp	6.9 bp −$7	11.0 bp −$110	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	0.69 bp	12.0 bp −$12	17.7 bp −$177	34.0 bp −$3,401	54.0 bp −$27.0K

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	−0.1232%	1h	93.765	−0.069%	$198K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0406%	1h	93.852	+0.023%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	93.730	−0.107%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0105%	1h	93.780	−0.053%	$705K	$916K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.868	+0.040%	$3K	$331	25x	as long as short
01 Exchange HYPEUSDlong	−0.0072%	1h	93.830	long leg	$86K	$368K	20x
Orderly PERP_HYPE_USDC	−0.0003%	4h	93.849	+0.020%	$169K	$588K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.935	+0.112%	$128K	$30K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.868	+0.040%	$23K	$329K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.862	+0.034%	$27K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix HYPE	+0.0009%	1h	93.919	+0.095%	$217K	$1.2M	10x	as long as short
Aster HYPEUSDT	+0.0017%	4h	93.839	+0.010%	$8.9M	$36.1M	300x	as long as short
Bybit HYPEUSDT	+0.0021%	8h	93.855	+0.027%	$322.9M	$284.0M	75x	as long as short
Derive HYPE-PERP	+0.0027%	1h	93.776	−0.058%	$16.4M	$7.1M	10x	as long as short
Phemex HYPEUSDT	+0.0042%	8h	93.813	−0.018%	$12.8M	$2.6M	50x	as long as short
MEXC HYPE_USDT	+0.0052%	4h	93.854	+0.026%	$88.4M	$82.2M	100x	as long as short
Binance HYPEUSDT	+0.0053%	4h	93.856	+0.028%	$383.2M	$898.2M	75x	as long as short
edgeX HYPEUSDC	+0.0061%	4h	93.800	−0.032%	$5.1M	$29.6M	30x	as long as short
Popdex HYPEUSDT	+0.0064%	1h	93.826	−0.004%	$60K	$1.2M	50x	as long as short
Gate HYPE_USDTshort	+0.0074%	4h	93.819	−0.012%	$44.1M	$59.9M	75x
Bullet HYPE-USD	+0.0087%	1h	93.823	−0.007%	$113K	$578K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0093%	8h	93.862	+0.034%	$115.8M	$322.7M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.858	+0.030%	$18.9M	$60.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.837	+0.007%	$3.0M	$12.3M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.828	−0.003%	$399K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.896	+0.071%	$341K	$171K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.810	−0.021%	$37K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.856	+0.028%	$5.7M	$44.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.914	+0.090%	$2.04B	$681.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.892	+0.066%	$10.1M	$14.6M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.820	−0.011%	$205K	$7K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.826	−0.004%	$46.4M	$18.6M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.866	+0.038%	$227.3M	$102.3M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.814	−0.017%	—	$54.2M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.847	+0.018%	$7.9M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.811	−0.020%	$31.2M	$54.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.848	+0.019%	$7.6M	$45.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.859	+0.031%	$359K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.811	−0.020%	$678K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.880	+0.053%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.854	+0.026%	$471K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.841	+0.012%	$76K	$172K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.859	+0.031%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.811	−0.020%	$2.0M	$2.0M	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.410	+0.618%	$31K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.843	+0.014%	$18.3M	$42.8M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	93.870	+0.043%	$4.9M	$5.7M	50x	as long as short
Kalshi KXHYPEPERP	+0.0154%	8h	93.960	+0.139%	$1.9M	$5.0M	2.3x	as long as short
HTX HYPE-USDT	+0.0193%	4h	94.000	+0.181%	$1.5M	$7.8M	75x	as long as short
BloFin HYPE-USDT	+0.0212%	4h	93.801	−0.031%	$16.9M	$12.6M	75x	as long as short
Reya HYPERUSDPERP	+0.0249%	1h	93.809	−0.022%	$77K	$142K	15x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	93.872	+0.045%	$2.8M	$6.8M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0163%	1h	93.863	+0.035%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0347%	1h	93.934	+0.111%	$7.5M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0578%	1h	93.925	+0.101%	$21.0M	$29.5M	50x	as long as short