Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0242%/8h= +26.5% APRpaid last 24h +0.047%

Price spread now: GMX against Gate+0.031%7-day average +0.035% · you sell dearer than you buy

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

Long on Gate Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.101%+$10 on $10k

Price spread, last 3 days (all we have)+0.062%+$6 · spread now +0.031%, 7d avg +0.035%

Together, before fees+0.163%+$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.035%, so right now this pair is about funding alone: +$7 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate HYPE_USDT	93.285	−0.0084	get 0.0042% / 4h	2h 46m	$44.2M	$53.9M	75x
Short	GMX HYPE/USD [WBTC.b-USDC]	93.314	L +0.0334% / S −0.0158%	get 0.0020% / 1h	46m 10s	$1.4M	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Gate. 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 GatebpFee GMXbpOrdersPrice spread, now +0.031%Rate

Funding earned: $50.84
Price spread: +0.031% → +0.035%: −$0.36
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee GMX: 6 bp × 2 orders: −$12
Net: $23.48
Costs to cover: 0.270%
Break-even: 3.8 days

Slippage unknown: Gate: live order book, 3 min ago; GMX: no order-book sample. 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 Gate live order book, 3 min ago	0.80 bp	10.3 bp −$10	14.9 bp −$149	29.9 bp −$2,992	55.5 bp −$27.8K
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	−0.1048%	1h	93.365	+0.086%	$197K	$229K	7x	as long as short
Arcus HYPE-USD	−0.0786%	1h	93.182	−0.110%	$1.2M	$3.9M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0186%	1h	93.361	+0.082%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0124%	1h	93.240	−0.048%	$698K	$977K	10x	as long as short
Backpack HYPE_USDC_PERP	−0.0118%	1h	93.254	−0.033%	$7.8M	$10.4M	20x	as long as short
Gate HYPE_USDTlong	−0.0084%	4h	93.285	long leg	$44.2M	$53.9M	75x
Hotstuff HYPE-PERP	−0.0080%	1h	93.376	+0.098%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0072%	1h	93.315	+0.032%	$84K	$361K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0052%	4h	93.269	−0.017%	$158K	$646K	20x	as long as short
Phemex HYPEUSDT	−0.0051%	8h	93.331	+0.049%	$12.7M	$2.7M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	−0.0026%	4h	93.292	+0.008%	$8.9M	$36.2M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.318	+0.035%	$128K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.325	+0.043%	$22K	$333K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.318	+0.035%	$26K	—	150x	as long as short
Bluefin HYPE-PERP	+0.0006%	1h	93.269	−0.017%	$79K	$174K	20x	as long as short
Bybit HYPEUSDT	+0.0011%	8h	93.290	+0.005%	$319.2M	$283.2M	75x	as long as short
BingX HYPE-USDT	+0.0016%	4h	93.289	+0.004%	—	$54.3M	—	as long as short
Bullet HYPE-USD	+0.0027%	1h	93.285	0.000%	$111K	$579K	20x	as long as short
MEXC HYPE_USDT	+0.0044%	4h	93.300	+0.016%	$88.2M	$82.4M	100x	as long as short
Binance HYPEUSDT	+0.0044%	4h	93.309	+0.026%	$380.4M	$905.2M	75x	as long as short
Derive HYPE-PERP	+0.0058%	1h	93.257	−0.030%	$16.2M	$7.6M	10x	as long as short
Phoenix HYPE	+0.0060%	1h	93.190	−0.102%	$212K	$1.2M	10x	as long as short
edgeX HYPEUSDC	+0.0062%	4h	93.437	+0.163%	$5.1M	$29.9M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0064%	8h	93.297	+0.013%	$115.0M	$315.4M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.317	+0.034%	$16.4M	$62.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.315	+0.032%	$3.1M	$11.8M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.329	+0.047%	$65K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.271	−0.015%	$397K	$177K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.397	+0.120%	$339K	$165K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.360	+0.080%	$35K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.284	−0.001%	$6.6M	$44.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.387	+0.109%	$2.04B	$675.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.345	+0.064%	$10.0M	$14.7M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.404	+0.127%	$203K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.306	+0.023%	$46.0M	$18.4M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.278	−0.008%	$225.7M	$100.7M	75x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.241	−0.048%	$30.9M	$55.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.420	+0.145%	$7.5M	$47.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.460	+0.188%	$338K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.428	+0.153%	$667K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.356	+0.076%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.326	+0.044%	$467K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.350	+0.070%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.292	+0.008%	$2.0M	$2.0M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.268	−0.019%	$18.4M	$44.4M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0136%	1h	93.410	+0.134%	$4.9M	$5.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0137%	1h	93.250	−0.038%	$30K	$338K	12x	as long as short
BloFin HYPE-USDT	+0.0175%	4h	93.407	+0.131%	$17.0M	$12.1M	75x	as long as short
RISEx HYPE/USDC	+0.0210%	1h	93.367	+0.088%	$2.7M	$6.7M	20x	as long as short
Reya HYPERUSDPERP	+0.0253%	1h	93.290	+0.005%	$79K	$142K	15x	as long as short
HTX HYPE-USDT	+0.0256%	4h	93.464	+0.192%	$1.4M	$6.1M	75x	as long as short
Kalshi KXHYPEPERP	+0.0260%	8h	93.305	+0.021%	$1.9M	$5.2M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]short	L +0.0334% / S −0.0158%	1h	93.314	+0.031%	$1.4M	—	100x
Deribit HYPE_USDC-PERPETUAL	+0.0457%	1h	93.402	+0.125%	$7.5M	$4.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0683%	1h	93.377	+0.099%	$20.8M	$30.0M	50x	as long as short