Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0098%/8h= +10.7% APRpaid last 24h +0.029%

Price spread now: SunX against gTrade (Gains Network)+0.071%7-day average — · you sell dearer than you buy

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

Long on gTrade (Gains Network)Short on SunX

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 for this trade now. Funding pays +$3 a day on $10k at the current rate, and SunX is 0.071% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$7 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) HYPE/USD	93.508	L +0.0002% / S −0.0002%	pay 0.0000% / 1h	47m 03s	$62K	—	150x
Short	SunX HYPE-USDT	93.574	0.0100	get 0.0050% / 4h	2h 47m	$32K	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee SunXbpOrdersPrice spread, now +0.071%Rate

Funding earned: $20.52
Price spread: +0.071% → 0.000%: $7.1
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: $9.62
Costs to cover: 0.180%
Break-even: 3.7 days

Slippage unknown: gTrade (Gains Network): no order-book sample; SunX: live order book, 8 min ago. 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell SunX live order book, 8 min ago	17.87 bp	34.1 bp −$34	doesn't fit	doesn't fit	doesn't fit

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
Hibachi HYPE/USDT-P	−0.1824%	1h	93.555	+0.050%	$197K	$232K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0376%	1h	93.567	+0.063%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.617	+0.117%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0031%	1h	93.481	−0.028%	$111K	$578K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0030%	4h	93.473	−0.037%	$146K	$663K	20x	as long as short
01 Exchange HYPEUSD	−0.0024%	1h	93.557	+0.053%	$88K	$366K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0017%	1h	93.570	+0.067%	$704K	$1.2M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.630	+0.131%	$128K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.553	+0.049%	$22K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USDlong	L +0.0002% / S −0.0002%	1h	93.508	long leg	$62K	—	150x

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus HYPE-USD	+0.0011%	1h	93.534	+0.028%	$1.0M	$3.9M	10x	as long as short
Bitget HYPEUSDT	+0.0018%	4h	93.431	−0.082%	$226.1M	$98.8M	75x	as long as short
Phemex HYPEUSDT	+0.0020%	8h	93.486	−0.023%	$12.6M	$2.7M	50x	as long as short
Bybit HYPEUSDT	+0.0025%	8h	93.422	−0.092%	$317.7M	$283.8M	75x	as long as short
Phoenix HYPE	+0.0026%	1h	93.637	+0.138%	$209K	$1.2M	10x	as long as short
edgeX HYPEUSDC	+0.0093%	4h	93.500	−0.008%	$5.0M	$30.0M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	93.649	+0.151%	$341K	$162K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.462	−0.049%	$16.1M	$63.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.474	−0.036%	$3.1M	$11.4M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.540	+0.035%	$77K	$1.1M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.540	+0.035%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.590	+0.089%	$7.8M	$48.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.499	−0.009%	$2.04B	$667.8M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.471	−0.039%	$8.7M	$36.4M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.623	+0.123%	$10.1M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.440	−0.072%	$374.6M	$911.4M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.432	−0.081%	$114.6M	$309.3M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.614	+0.114%	$204K	$3K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	93.447	−0.065%	$46.4M	$54.0M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.434	−0.079%	$91.8M	$80.3M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.495	−0.013%	$46.8M	$18.7M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.426	−0.087%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.480	−0.030%	$7.3M	$10.9M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.649	+0.151%	$28.7M	$56.6M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.675	+0.179%	$7.6M	$47.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.596	+0.095%	$343K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.699	+0.205%	$670K	$2.9M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.622	+0.122%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.563	+0.059%	$490K	$2.7M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.468	−0.042%	$79K	$166K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.457	−0.054%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDTshort	+0.0100%	4h	93.574	+0.071%	$32K	$1.6M	20x
SoDEX HYPE-USD	+0.0100%	1h	93.463	−0.048%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.662	+0.165%	$1.4M	$6.4M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.436	−0.076%	$18.2M	$43.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.470	−0.040%	$395K	$161K	20x	as long as short
Kalshi KXHYPEPERP	+0.0113%	8h	93.624	+0.124%	$1.8M	$5.6M	2.3x	as long as short
Injective HYPE/USDC PERP	+0.0122%	1h	93.560	+0.056%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.550	+0.045%	$4.8M	$5.6M	50x	as long as short
Reya HYPERUSDPERP	+0.0268%	1h	93.528	+0.022%	$80K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0154%	1h	93.505	−0.003%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.441	−0.071%	$16.8M	$11.9M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0341%	1h	93.520	+0.013%	$20.8M	$29.6M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0413%	1h	93.566	+0.062%	$7.5M	$4.0M	50x	as long as short
RISEx HYPE/USDC	+0.0527%	1h	93.624	+0.125%	$3.2M	$6.3M	20x	as long as short