Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0078%/8h= +8.5% APRpaid last 24h +0.010%

Price spread now: Pacifica against Bitget+0.081%7-day average +0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$280.276% of the position

Long on Bitget Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.023%−$2 on $10k

Price spread, last 7 days−0.089%−$9 · spread now +0.081%, 7d avg +0.010%

Together, before fees−0.112%+ Points / potential airdropPacifica: Active · farm board−$11 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 Pacifica is 0.071% dearer against Bitget than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget HYPEUSDT	93.424	0.0022	pay 0.0011% / 4h	2h 55m	$226.1M	$99.1M	75x
Short	Pacifica HYPE	93.499	0.0100	get 0.0013% / 1h	55m 23s	$10.1M	$15.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.081%Rate

Funding earned: $16.38
Price spread: +0.081% → +0.010%: $7.05
Slippage, 4 orders: −$7.6
Fee Bitget: 6 bp × 2 orders: −$12
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$4.16
Costs to cover: 0.276%
Break-even: 8.8 days

Slippage from Bitget: live order book, 4 min ago; Pacifica: live order book, 4 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, 4 min ago	0.37 bp	9.1 bp −$9	14.1 bp −$141	doesn't fit	doesn't fit
Sell Pacifica live order book, 4 min ago	0.05 bp	5.1 bp −$5	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	−0.1904%	1h	93.383	−0.044%	$196K	$232K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0360%	1h	93.438	+0.015%	$22K	$21K	10x	as long as short
Bullet HYPE-USD	−0.0158%	1h	93.388	−0.038%	$112K	$578K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.530	+0.113%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0040%	1h	93.442	+0.019%	$87K	$365K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0037%	4h	93.554	+0.139%	$146K	$663K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.530	+0.114%	$128K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.466	+0.045%	$22K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.439	+0.016%	$62K	—	150x	as long as short
Arcus HYPE-USD	+0.0011%	1h	93.413	−0.012%	$1.0M	$3.9M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps HYPE-USD.P	+0.0014%	1h	93.540	+0.124%	$705K	$1.2M	10x	as long as short
Phemex HYPEUSDT	+0.0020%	8h	93.499	+0.080%	$12.6M	$2.7M	50x	as long as short
Bitget HYPEUSDTlong	+0.0022%	4h	93.424	long leg	$226.1M	$99.1M	75x
Bybit HYPEUSDT	+0.0026%	8h	93.407	−0.018%	$317.7M	$283.6M	75x	as long as short
Phoenix HYPE	+0.0026%	1h	93.546	+0.131%	$209K	$1.2M	10x	as long as short
edgeX HYPEUSDC	+0.0092%	4h	93.577	+0.164%	$5.0M	$29.9M	30x	as long as short
Bluefin HYPE-PERP	+0.0092%	1h	93.553	+0.138%	$79K	$167K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	93.489	+0.069%	$340K	$162K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.481	+0.062%	$16.1M	$62.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.522	+0.105%	$3.1M	$11.4M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.427	+0.003%	$76K	$1.1M	50x	as long as short
Gate HYPE_USDT	+0.0096%	4h	93.440	+0.017%	$46.3M	$53.8M	75x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.440	+0.017%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.412	−0.013%	$7.0M	$47.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.467	+0.046%	$2.04B	$667.2M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.447	+0.025%	$8.7M	$36.4M	300x	as long as short
Pacifica HYPEshort	+0.0100%	1h	93.499	+0.081%	$10.1M	$15.3M	20x
Binance HYPEUSDT	+0.0100%	4h	93.457	+0.035%	$374.8M	$910.5M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.411	−0.014%	$114.8M	$308.0M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.328	−0.103%	$203K	$3K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.418	−0.006%	$92.1M	$80.0M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.448	+0.026%	$46.1M	$18.5M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.417	−0.007%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.578	+0.165%	$7.3M	$11.1M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.529	+0.112%	$28.7M	$56.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.637	+0.228%	$7.6M	$47.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.532	+0.116%	$343K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.573	+0.159%	$669K	$2.9M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.504	+0.085%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.442	+0.019%	$490K	$2.7M	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.544	+0.128%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.549	+0.134%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.563	+0.149%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.800	+0.402%	$1.4M	$6.4M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.411	−0.014%	$18.1M	$43.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.566	+0.152%	$396K	$161K	20x	as long as short
Injective HYPE/USDC PERP	+0.0122%	1h	93.410	−0.015%	$30K	$339K	12x	as long as short
Kalshi KXHYPEPERP	+0.0137%	8h	93.633	+0.224%	$1.8M	$5.6M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.720	+0.317%	$4.8M	$5.6M	50x	as long as short
Reya HYPERUSDPERP	+0.0267%	1h	93.406	−0.020%	$80K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0154%	1h	93.433	+0.009%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.642	+0.233%	$16.9M	$11.9M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0340%	1h	93.618	+0.208%	$20.9M	$29.6M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0391%	1h	93.649	+0.241%	$7.5M	$4.0M	50x	as long as short
RISEx HYPE/USDC	+0.0527%	1h	93.504	+0.086%	$3.2M	$6.3M	20x	as long as short