Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.061%

Price spread now: Arcus against Bulk−0.015%7-day average −0.067% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

costs, in and out, $10k−$150.152% of the position

Long on Bulk Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.072%−$7 on $10k

Price spread, last 4 days (all we have)+0.192%+$19 · spread now −0.015%, 7d avg −0.067%

Together, before fees+0.120%+$12 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: Arcus is 0.052% dearer against Bulk than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.067%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk HYPE-USD	93.285	0.0100	pay 0.0013% / 1h	10m 58s	$204K	$12K	10x
Short	Arcus HYPE-USD	93.271	0.0100	get 0.0013% / 1h	10m 58s	$1.2M	$4.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Bulk. 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 BulkbpFee ArcusbpOrdersPrice spread, now −0.015%Rate

Funding earned: $0
Price spread: −0.015% → −0.067%: $5.22
Slippage, 4 orders: −$3.72
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$10
Costs to cover: 0.152%
Break-even: never at this rate

Slippage from Bulk: live order book, 13 min ago; Arcus: live order book, 3 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 Bulk live order book, 13 min ago	0.53 bp	4.0 bp −$4	5.6 bp −$56	11.5 bp −$1,153	35.8 bp −$17.9K
Sell Arcus live order book, 3 min ago	0.64 bp	3.3 bp −$3	9.2 bp −$92	28.4 bp −$2,836	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	−0.0920%	1h	93.381	+0.103%	$197K	$233K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0255%	1h	93.542	+0.276%	$22K	$22K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0234%	1h	93.410	+0.134%	$700K	$932K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.337	+0.056%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0072%	1h	93.305	+0.021%	$90K	$351K	20x	as long as short
Derive HYPE-PERP	−0.0025%	1h	93.309	+0.026%	$16.4M	$7.1M	10x	as long as short
Bullet HYPE-USD	−0.0016%	1h	93.307	+0.024%	$111K	$581K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.383	+0.105%	$127K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.290	+0.005%	$23K	$337K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.335	+0.053%	$20K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0011%	4h	93.299	+0.015%	$8.9M	$35.8M	300x	as long as short
Gate HYPE_USDT	+0.0024%	4h	93.302	+0.018%	$43.9M	$57.6M	75x	as long as short
Bybit HYPEUSDT	+0.0031%	8h	93.286	+0.001%	$324.9M	$287.2M	75x	as long as short
Popdex HYPEUSDT	+0.0040%	1h	93.287	+0.002%	$58K	$1.2M	50x	as long as short
Orderly PERP_HYPE_USDC	+0.0056%	4h	93.307	+0.024%	$163K	$543K	20x	as long as short
Phoenix HYPE	+0.0068%	1h	93.605	+0.343%	$216K	$1.2M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.331	+0.049%	$18.6M	$59.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.322	+0.040%	$3.1M	$12.4M	20x	as long as short
SoDEX HYPE-USD	+0.0097%	1h	93.287	+0.002%	$2.0M	$2.0M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.308	+0.025%	$339K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.320	+0.038%	$37K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.286	+0.002%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.393	+0.116%	$2.03B	$671.0M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.307	+0.024%	$10.0M	$14.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.305	+0.021%	$385.2M	$889.8M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.295	+0.011%	$114.6M	$315.0M	50x	as long as short
Arcus HYPE-USDshort	+0.0100%	1h	93.271	−0.015%	$1.2M	$4.0M	10x
Bulk HYPE-USDlong	+0.0100%	1h	93.285	long leg	$204K	$12K	10x
MEXC HYPE_USDT	+0.0100%	4h	93.305	+0.021%	$93.2M	$82.4M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.308	+0.025%	$46.2M	$18.7M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.320	+0.038%	$226.7M	$102.5M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.300	+0.016%	—	$54.2M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.335	+0.054%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.561	+0.296%	$29.2M	$50.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.439	+0.165%	$7.5M	$45.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.558	+0.293%	$406K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.510	+0.241%	$676K	$2.5M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.330	+0.048%	$493K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.285	0.000%	$75K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.369	+0.090%	$32K	$1.6M	20x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.345	+0.064%	$12.7M	$2.6M	50x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.344	+0.063%	—	$454K	5x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.293	+0.009%	$18.3M	$41.4M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.347	+0.066%	$397K	$318K	20x	as long as short
Kalshi KXHYPEPERP	+0.0108%	8h	93.396	+0.119%	$1.9M	$5.3M	2.3x	as long as short
edgeX HYPEUSDC	+0.0118%	4h	93.534	+0.267%	$5.1M	$29.7M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.390	+0.113%	$4.9M	$5.7M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0243%	1h	93.405	+0.129%	$7.4M	$4.6M	50x	as long as short
Reya HYPERUSDPERP	+0.0246%	1h	93.286	+0.001%	$78K	$158K	15x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.910	+0.670%	$31K	$291K	12x	as long as short
HTX HYPE-USDT	+0.0297%	4h	93.487	+0.217%	$1.5M	$7.7M	75x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.289	+0.004%	$17.1M	$12.4M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0346% / S −0.0171%	1h	93.337	+0.056%	$1.5M	—	100x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.365	+0.085%	$2.7M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0574%	1h	93.412	+0.136%	$19.1M	$26.1M	50x	as long as short