Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.007%

Price spread now: KuCoin against Bitget−0.060%7-day average +0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$360.357% of the position

Long on Bitget Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.063%+$6 on $10k

Price spread, last 7 days+0.068%+$7 · spread now −0.060%, 7d avg +0.012%

Together, before fees+0.131%+$13 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 0.073% cheaper against Bitget than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget HYPEUSDT	92.870	0.0100	pay 0.0050% / 4h	1h 04m	$224.5M	$96.5M	75x
Short	KuCoin HYPEUSDTM	92.814	0.0100	get 0.0050% / 4h	1h 04m	$45.9M	$18.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.060%Rate

Funding earned: $0
Price spread: −0.060% → +0.012%: −$7.26
Slippage, 4 orders: −$11.71
Fee Bitget: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$42.98
Costs to cover: 0.357%
Break-even: never at this rate

Slippage from Bitget: live order book, 5 min ago; KuCoin: live order book, 5 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 Bitget live order book, 5 min ago	0.05 bp	7.5 bp −$8	13.1 bp −$131	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 min ago	0.43 bp	8.5 bp −$8	15.7 bp −$157	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
Arcus HYPE-USD	−0.0899%	1h	92.708	−0.174%	$1.2M	$3.8M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0896%	1h	92.844	−0.028%	$195K	$227K	7x	as long as short
Ondo Perps HYPE-USD.P	−0.0129%	1h	92.760	−0.118%	$698K	$1.0M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0091%	1h	93.018	+0.159%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.841	−0.031%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0064%	1h	92.787	−0.089%	$86K	$348K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0055%	4h	92.815	−0.059%	$158K	$658K	20x	as long as short
Bullet HYPE-USD	−0.0002%	1h	92.826	−0.048%	$111K	$579K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.903	+0.035%	$127K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.818	−0.056%	$23K	$309K	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0001%	4h	92.822	−0.052%	$8.8M	$36.0M	300x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.861	−0.010%	$62K	—	150x	as long as short
Phemex HYPEUSDT	+0.0023%	8h	92.879	+0.010%	$12.5M	$2.7M	50x	as long as short
Phoenix HYPE	+0.0026%	1h	93.003	+0.143%	$212K	$1.2M	10x	as long as short
BingX HYPE-USDT	+0.0038%	4h	92.838	−0.034%	—	$53.1M	—	as long as short
Bybit HYPEUSDT	+0.0044%	8h	92.840	−0.032%	$319.4M	$277.2M	75x	as long as short
Gate HYPE_USDT	+0.0044%	4h	92.825	−0.048%	$44.3M	$55.9M	75x	as long as short
Derive HYPE-PERP	+0.0067%	1h	92.818	−0.056%	$16.1M	$7.5M	10x	as long as short
OKX HYPE-USDT-SWAP	+0.0071%	8h	92.850	−0.022%	$113.2M	$298.7M	50x	as long as short
MEXC HYPE_USDT	+0.0086%	4h	92.832	−0.041%	$88.7M	$81.5M	100x	as long as short
Binance HYPEUSDT	+0.0086%	4h	92.825	−0.048%	$375.5M	$882.8M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	92.863	−0.007%	$339K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.871	+0.001%	$16.1M	$62.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.853	−0.018%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.811	−0.064%	$67K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	92.800	−0.075%	$20K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.827	−0.046%	$5.8M	$43.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.882	+0.013%	$2.02B	$654.7M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.857	−0.014%	$10.0M	$14.8M	20x	as long as short
KuCoin HYPEUSDTMshort	+0.0100%	4h	92.814	−0.060%	$45.9M	$18.2M	75x
Bitget HYPEUSDTlong	+0.0100%	4h	92.870	long leg	$224.5M	$96.5M	75x
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.811	−0.064%	$7.4M	$10.0M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.797	−0.079%	$31.2M	$53.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.172	+0.325%	$7.5M	$46.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.081	+0.227%	$338K	$998K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.886	+0.017%	$664K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.860	−0.010%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.865	−0.005%	$469K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.821	−0.053%	$79K	$169K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.921	+0.055%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.891	+0.023%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.810	−0.065%	$202K	$13K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.842	−0.031%	$18.3M	$42.9M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.866	−0.004%	$395K	$162K	20x	as long as short
edgeX HYPEUSDC	+0.0108%	4h	92.971	+0.108%	$5.0M	$29.0M	30x	as long as short
HTX HYPE-USDT	+0.0108%	4h	93.023	+0.165%	$1.4M	$6.1M	75x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	92.920	+0.054%	$4.7M	$5.5M	50x	as long as short
Reya HYPERUSDPERP	+0.0259%	1h	92.816	−0.058%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0269%	8h	92.902	+0.034%	$1.9M	$5.2M	2.3x	as long as short
BloFin HYPE-USDT	+0.0326%	4h	92.824	−0.050%	$16.9M	$11.4M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0156%	1h	92.858	−0.013%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0460%	1h	92.983	+0.122%	$7.4M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0510%	1h	92.921	+0.054%	$3.2M	$6.3M	20x	as long as short
Injective HYPE/USDC PERP	+0.0519%	1h	93.390	+0.560%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0688%	1h	92.955	+0.092%	$20.7M	$30.0M	50x	as long as short