Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0098%/8h= −10.7% APRpaid last 24h −0.015%

Price spread now: gTrade (Gains Network) against Bitget−0.074%7-day average — · you buy dearer than you sell

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

Long on Bitget Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.074% cheaper against Bitget than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget HYPEUSDT	93.405	0.0100	pay 0.0050% / 4h	1h 14m	$226.6M	$103.0M	75x
Short	gTrade (Gains Network) HYPE/USD	93.336	L +0.0002% / S −0.0002%	get 0.0000% / 1h	14m 11s	$27K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Bitget. 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 BitgetbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.074%Rate

Funding earned: −$20.5
Price spread: −0.074% → 0.000%: −$7.37
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$49.87
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 5 min ago; gTrade (Gains Network): no order-book sample. 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 Bitget live order book, 5 min ago	0.16 bp	8.7 bp −$9	12.1 bp −$121	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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
Aftermath Perps HYPEUSD	−0.0441%	1h	93.211	−0.207%	$22K	$22K	10x	as long as short
Hibachi HYPE/USDT-P	−0.0352%	1h	93.222	−0.195%	$197K	$230K	7x	as long as short
Arcus HYPE-USD	−0.0131%	1h	93.205	−0.214%	$1.2M	$4.0M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0123%	1h	93.210	−0.209%	$699K	$932K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.272	−0.142%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0032%	1h	93.292	−0.121%	$90K	$361K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.278	−0.136%	$127K	$32K	5x	as long as short
Popdex HYPEUSDT	0.0000%	1h	93.260	−0.155%	$58K	$1.2M	50x	as long as short
Perpl HYPE	0.0000%	43m	93.251	−0.164%	$23K	$330K	10x	as long as short
Aster HYPEUSDT	+0.0001%	4h	93.346	−0.063%	$8.9M	$35.8M	300x	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/USDshort	L +0.0002% / S −0.0002%	1h	93.336	−0.074%	$27K	—	150x
Orderly PERP_HYPE_USDC	+0.0020%	4h	93.329	−0.081%	$172K	$517K	20x	as long as short
Bybit HYPEUSDT	+0.0023%	8h	93.373	−0.034%	$323.5M	$285.5M	75x	as long as short
Phoenix HYPE	+0.0034%	1h	93.249	−0.167%	$214K	$1.2M	10x	as long as short
Bullet HYPE-USD	+0.0035%	1h	93.304	−0.108%	$112K	$578K	20x	as long as short
Derive HYPE-PERP	+0.0047%	1h	93.269	−0.146%	$16.3M	$7.0M	10x	as long as short
Gate HYPE_USDT	+0.0064%	4h	93.393	−0.013%	$44.0M	$58.7M	75x	as long as short
MEXC HYPE_USDT	+0.0064%	4h	93.403	−0.002%	$90.3M	$82.3M	100x	as long as short
Binance HYPEUSDT	+0.0065%	4h	93.352	−0.057%	$382.2M	$894.3M	75x	as long as short
edgeX HYPEUSDC	+0.0085%	4h	93.171	−0.250%	$5.1M	$29.7M	30x	as long as short
Lighter HYPE	+0.0096%	1h	93.415	+0.010%	$18.6M	$59.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.397	−0.009%	$3.1M	$12.2M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.331	−0.079%	$397K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.282	−0.132%	$339K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.240	−0.177%	$35K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.255	−0.160%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.421	+0.017%	$2.03B	$669.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.293	−0.120%	$10.0M	$14.4M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.386	−0.020%	$114.3M	$314.2M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.232	−0.185%	$204K	$8K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.352	−0.057%	$47.0M	$18.7M	75x	as long as short
Bitget HYPEUSDTlong	+0.0100%	4h	93.405	long leg	$226.6M	$103.0M	75x
BingX HYPE-USDT	+0.0100%	4h	93.396	−0.010%	—	$53.8M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.400	−0.005%	$7.9M	$10.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.203	−0.216%	$29.0M	$50.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.199	−0.221%	$7.5M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.153	−0.270%	$414K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.206	−0.213%	$674K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.284	−0.129%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.293	−0.120%	$493K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.336	−0.074%	$76K	$167K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.353	−0.056%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.354	−0.055%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.331	−0.079%	$12.7M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.302	−0.110%	$18.2M	$41.8M	50x	as long as short
Kalshi KXHYPEPERP	+0.0117%	8h	93.425	+0.021%	$1.9M	$5.3M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.410	+0.005%	$4.9M	$5.7M	50x	as long as short
HTX HYPE-USDT	+0.0231%	4h	93.500	+0.102%	$1.5M	$7.7M	75x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	93.140	−0.284%	$30K	$338K	12x	as long as short
Reya HYPERUSDPERP	+0.0247%	1h	93.257	−0.158%	$77K	$159K	15x	as long as short
BloFin HYPE-USDT	+0.0260%	4h	93.211	−0.208%	$16.8M	$12.4M	75x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.325	−0.086%	$2.7M	$6.8M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0165%	1h	93.313	−0.099%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0435%	1h	93.459	+0.058%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0465%	1h	93.493	+0.095%	$20.9M	$29.0M	50x	as long as short