Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0049%/8h= +5.4% APRpaid last 24h +0.013%

Price spread now: Paradex against Bitget+0.045%7-day average +0.032% · 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−$23as in the Price arb table

costs, in and out, $10k−$240.243% of the position

Long on Bitget Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.036%+$4 on $10k

Price spread, last 4 days (all we have)−0.173%−$17 · spread now +0.045%, 7d avg +0.032%

Together, before fees−0.137%+ Points / potential airdropParadex: Active · farm board−$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.032%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget HYPEUSDT	92.788	0.0050	pay 0.0025% / 4h	3h 25m	$224.7M	$99.1M	75x
Short	Paradex HYPE-USD-PERP	92.829	0.0099	get 0.0099% / 8h	3h 25m	$339K	$163K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.045%Rate

Funding earned: $10.38
Price spread: +0.045% → +0.032%: $1.29
Slippage, 4 orders: −$8.29
Fee Bitget: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$12.62
Costs to cover: 0.243%
Break-even: 15.5 days

Slippage from Bitget: live order book, 4 min ago; Paradex: live order book, 29 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	0.22 bp	7.9 bp −$8	10.8 bp −$108	doesn't fit	doesn't fit
Sell Paradex live order book, 29 min ago	1.18 bp	3.2 bp −$3	6.7 bp −$67	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	−0.1656%	1h	92.636	−0.164%	$193K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0311%	1h	92.830	+0.046%	$22K	$21K	10x	as long as short
Arcus HYPE-USD	−0.0194%	1h	92.765	−0.025%	$1.1M	$3.9M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.807	+0.020%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0061%	4h	92.790	+0.002%	$145K	$681K	20x	as long as short
Bullet HYPE-USD	−0.0002%	1h	92.765	−0.025%	$112K	$577K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.827	+0.042%	$127K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.807	+0.020%	$22K	$295K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.803	+0.016%	$62K	—	150x	as long as short
Ondo Perps HYPE-USD.P	+0.0016%	1h	92.730	−0.063%	$698K	$1.1M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix HYPE	+0.0026%	1h	92.921	+0.143%	$210K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0032%	8h	92.784	−0.004%	$315.4M	$282.8M	75x	as long as short
01 Exchange HYPEUSD	+0.0032%	1h	92.791	+0.003%	$87K	$364K	20x	as long as short
Phemex HYPEUSDT	+0.0049%	8h	92.841	+0.057%	$12.5M	$2.7M	50x	as long as short
Bitget HYPEUSDTlong	+0.0050%	4h	92.788	long leg	$224.7M	$99.1M	75x
Popdex HYPEUSDT	+0.0056%	1h	92.785	−0.003%	$70K	$1.1M	50x	as long as short
Gate HYPE_USDT	+0.0074%	4h	92.790	+0.002%	$45.1M	$54.3M	75x	as long as short
edgeX HYPEUSDC	+0.0092%	4h	92.837	+0.053%	$4.9M	$29.6M	30x	as long as short
Lighter HYPE	+0.0096%	1h	92.822	+0.037%	$16.0M	$62.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.821	+0.036%	$3.1M	$11.6M	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.790	+0.002%	$34K	$1.7M	10x	as long as short
Paradex HYPE-USD-PERPshort	+0.0099%	8h	92.829	+0.045%	$339K	$163K	20x
Nado HYPE-PERP	+0.0100%	1h	92.802	+0.016%	$7.4M	$46.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.830	+0.045%	$2.02B	$666.7M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	92.784	−0.004%	$8.7M	$36.1M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	92.818	+0.032%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.776	−0.013%	$373.1M	$905.7M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	92.799	+0.012%	$113.8M	$303.5M	50x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.780	−0.009%	$91.3M	$81.0M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.786	−0.002%	$46.1M	$18.4M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	92.789	+0.001%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.841	+0.057%	$7.2M	$11.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.768	−0.022%	$28.5M	$57.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.886	+0.106%	$7.5M	$46.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.846	+0.063%	$341K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.813	+0.027%	$667K	$2.9M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.839	+0.055%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.822	+0.037%	$470K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.791	+0.003%	$79K	$166K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.784	−0.005%	$16.0M	$7.6M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.872	+0.091%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.799	+0.012%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.950	+0.175%	$1.4M	$6.3M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.770	−0.019%	$202K	$13K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.769	−0.021%	$18.0M	$43.6M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.783	−0.005%	$392K	$164K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	92.910	+0.131%	$4.7M	$5.6M	50x	as long as short
Kalshi KXHYPEPERP	+0.0154%	8h	92.890	+0.110%	$1.8M	$5.4M	2.3x	as long as short
Kraken Futures PF_HYPEUSD	+0.0197%	1h	92.858	+0.076%	$20.6M	$30.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0242%	1h	92.790	+0.002%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0265%	1h	92.777	−0.012%	$79K	$131K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0278%	1h	92.881	+0.100%	$7.5M	$4.5M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.823	+0.038%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.846	+0.063%	$16.8M	$11.6M	75x	as long as short
RISEx HYPE/USDC	+0.0598%	1h	92.846	+0.062%	$3.1M	$6.4M	20x	as long as short