Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0078%/8h= +8.5% APRpaid last 24h +0.028%

Price spread now: KuCoin against 01 Exchange+0.001%7-day average −0.029% · you sell dearer than you buy

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−$360.357% of the position

Long on 01 Exchange Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.048%+$5 on $10k

Price spread, last 4 days (all we have)−0.006%−$1 · spread now +0.001%, 7d avg −0.029%

Together, before fees+0.042%+$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and KuCoin is 0.030% dearer against 01 Exchange than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.029%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange HYPEUSD	95.316	−0.0032	get 0.0004% / 1h	11m 25s	$101K	$355K	20x
Short	KuCoin HYPEUSDTM	95.317	0.0046	get 0.0023% / 4h	11m 25s	$47.8M	$17.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.001%Rate

Funding earned: $16.38
Price spread: +0.001% → −0.029%: $3.05
Slippage, 4 orders: −$16.73
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$16.3
Costs to cover: 0.357%
Break-even: 14.0 days

Slippage from 01 Exchange: live order book, 31 min ago; KuCoin: live order book, 11 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, 31 min ago	0.37 bp	8.2 bp −$8	20.4 bp −$204	doesn't fit	doesn't fit
Sell KuCoin live order book, 11 min ago	0.16 bp	8.7 bp −$9	13.2 bp −$132	doesn't fit	doesn't fit

HYPE on 55 exchanges

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
Kraken Futures PF_HYPEUSD	−0.0280%	1h	95.401	+0.089%	$18.2M	$31.9M	50x	as long as short
Phemex HYPEUSDT	−0.0249%	8h	95.412	+0.101%	$13.0M	$2.2M	50x	as long as short
Bluefin HYPE-PERP	−0.0190%	1h	95.336	+0.021%	$79K	$131K	20x	as long as short
Aster HYPEUSDT	−0.0101%	4h	95.336	+0.021%	$9.0M	$34.6M	300x	as long as short
Aftermath Perps HYPEUSD	−0.0084%	1h	95.442	+0.132%	$22K	$17K	10x	as long as short
Orderly PERP_HYPE_USDC	−0.0080%	4h	95.339	+0.024%	$146K	$642K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	95.137	−0.188%	$3K	$421	25x	as long as short
Coinbase International HYPE-PERP-INTX	−0.0064%	1h	95.350	+0.036%	$4.7M	$5.4M	50x	as long as short
Ondo Perps HYPE-USD.P	−0.0052%	1h	95.280	−0.038%	$678K	$1.2M	10x	as long as short
Gate HYPE_USDT	−0.0044%	4h	95.359	+0.045%	$57.3M	$54.1M	75x	as long as short

Show all 55 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX HYPE-USDT-SWAP	−0.0040%	8h	95.369	+0.056%	$119.1M	$304.4M	50x	as long as short
01 Exchange HYPEUSDlong	−0.0032%	1h	95.316	long leg	$101K	$355K	20x
Phoenix HYPE	−0.0017%	1h	95.703	+0.406%	$197K	$1.1M	10x	as long as short
Bitget HYPEUSDT	−0.0016%	4h	95.369	+0.056%	$229.9M	$86.0M	75x	as long as short
Lighter HYPE	0.0000%	1h	95.340	+0.025%	$16.7M	$56.2M	20x	as long as short
Perpl HYPE	0.0000%	43m	95.377	+0.064%	$24K	$246K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	95.375	+0.062%	$66K	—	150x	as long as short
Backpack HYPE_USDC_PERP	+0.0019%	1h	95.330	+0.015%	$6.8M	$12.3M	20x	as long as short
edgeX HYPEUSDC	+0.0034%	4h	95.519	+0.213%	$5.1M	$28.2M	30x	as long as short
MEXC HYPE_USDT	+0.0046%	4h	95.348	+0.034%	$88.8M	$84.7M	100x	as long as short
KuCoin HYPEUSDTMshort	+0.0046%	4h	95.317	+0.001%	$47.8M	$17.7M	75x
BingX HYPE-USDT	+0.0046%	4h	95.356	+0.042%	—	$50.7M	—	as long as short
Binance HYPEUSDT	+0.0047%	4h	95.364	+0.050%	$387.9M	$844.8M	75x	as long as short
Bybit HYPEUSDT	+0.0048%	8h	95.360	+0.046%	$323.6M	$262.7M	75x	as long as short
Derive HYPE-PERP	+0.0063%	1h	95.310	−0.006%	$16.5M	$5.7M	10x	as long as short
dYdX HYPE-USD	+0.0070%	1h	95.399	+0.087%	$128K	$96K	5x	as long as short
Bullet HYPE-USD	+0.0079%	1h	95.364	+0.050%	$113K	$582K	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	95.338	+0.023%	$3.0M	$10.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	95.332	+0.017%	$246K	$1.1M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	95.372	+0.059%	$403K	$115K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0096%	8h	95.335	+0.020%	$340K	$30K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	95.280	−0.038%	$17K	$1.5M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	95.318	+0.003%	$5.3M	$50.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	95.430	+0.120%	$2.11B	$631.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	95.366	+0.052%	$10.3M	$12.5M	20x	as long as short
Arcus HYPE-USD	+0.0100%	1h	95.359	+0.045%	$1.1M	$2.7M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	95.627	+0.326%	$230K	$20K	10x	as long as short
Variational Omni HYPE	+0.0100%	8h	95.408	+0.096%	$30.3M	$51.8M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	95.541	+0.236%	$7.7M	$41.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	95.611	+0.309%	$335K	$922K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	95.586	+0.283%	$695K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	95.429	+0.118%	—	$80K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	95.339	+0.024%	$484K	$2.3M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	95.441	+0.131%	$33K	$1.3M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	95.391	+0.079%	$2.1M	$341K	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.526	+0.220%	$1.4M	$5.1M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	95.352	+0.038%	$18.2M	$35.6M	50x	as long as short
Kalshi KXHYPEPERP	+0.0136%	8h	95.491	+0.184%	$1.8M	$5.1M	2.3x	as long as short
RISEx HYPE/USDC	+0.0138%	1h	95.343	+0.028%	$3.2M	$5.1M	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0148%	1h	95.447	+0.137%	$7.6M	$4.3M	50x	as long as short
BloFin HYPE-USDT	+0.0183%	4h	95.558	+0.254%	$17.6M	$11.5M	75x	as long as short
Reya HYPERUSDPERP	+0.0267%	1h	95.320	+0.004%	$83K	$92K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0327% / S −0.0152%	1h	95.384	+0.072%	$1.4M	—	100x	as long as short
Hibachi HYPE/USDT-P	+0.0392%	1h	95.477	+0.169%	$206K	$268K	7x	as long as short
Injective HYPE/USDC PERP	+0.1234%	1h	95.170	−0.153%	$31K	$334K	12x	as long as short