Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0036%/8h= +3.9% APRpaid last 24h +0.014%

Price spread now: Nado against Gate−0.064%7-day average +0.019% · 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−$37as in the Price arb table

costs, in and out, $10k−$290.289% of the position

Long on Gate Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.018%+$2 on $10k

Price spread, last 7 days+0.089%+$9 · spread now −0.064%, 7d avg +0.019%

Together, before fees+0.107%+ Points / potential airdropNado: Active · farm board+$11 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.082% cheaper against Gate than usual: you would sell low and buy high (spread −0.064% now, against its 7-day average of +0.019%). If the spread goes back, that is −$8 on $10k: about 7.6 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate HYPE_USDT	93.315	0.0064	pay 0.0032% / 4h	1h 14m	$44.0M	$58.6M	75x
Short	Nado HYPE-PERP	93.255	0.0100	get 0.0012% / 1h	14m 27s	$5.9M	$44.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.064%Rate

Funding earned: $7.56
Price spread: −0.064% → +0.019%: −$8.25
Slippage, 4 orders: −$6.95
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$29.63
Costs to cover: 0.289%
Break-even: 34.4 days

Slippage from Gate: live order book, 4 min ago; Nado: live order book, 5 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 Gate live order book, 4 min ago	0.43 bp	10.5 bp −$11	14.2 bp −$142	29.1 bp −$2,914	51.3 bp −$25.7K
Sell Nado live order book, 5 min ago	0.05 bp	3.9 bp −$4	6.3 bp −$63	29.5 bp −$2,945	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
Aftermath Perps HYPEUSD	−0.0441%	1h	93.211	−0.111%	$22K	$22K	10x	as long as short
Hibachi HYPE/USDT-P	−0.0352%	1h	93.222	−0.099%	$197K	$230K	7x	as long as short
Arcus HYPE-USD	−0.0131%	1h	93.205	−0.118%	$1.2M	$4.0M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0123%	1h	93.210	−0.113%	$699K	$932K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.272	−0.046%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0032%	1h	93.292	−0.025%	$90K	$361K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.278	−0.040%	$127K	$32K	5x	as long as short
Popdex HYPEUSDT	0.0000%	1h	93.260	−0.059%	$58K	$1.2M	50x	as long as short
Perpl HYPE	0.0000%	43m	93.251	−0.068%	$23K	$330K	10x	as long as short
Aster HYPEUSDT	+0.0001%	4h	93.312	−0.003%	$8.9M	$35.8M	300x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.336	+0.023%	$27K	—	150x	as long as short
Orderly PERP_HYPE_USDC	+0.0020%	4h	93.329	+0.015%	$172K	$517K	20x	as long as short
Bybit HYPEUSDT	+0.0023%	8h	93.306	−0.010%	$323.2M	$285.5M	75x	as long as short
Phoenix HYPE	+0.0034%	1h	93.249	−0.071%	$214K	$1.2M	10x	as long as short
Bullet HYPE-USD	+0.0035%	1h	93.304	−0.012%	$112K	$578K	20x	as long as short
Derive HYPE-PERP	+0.0047%	1h	93.269	−0.049%	$16.3M	$7.0M	10x	as long as short
Gate HYPE_USDTlong	+0.0064%	4h	93.315	long leg	$44.0M	$58.6M	75x
MEXC HYPE_USDT	+0.0064%	4h	93.275	−0.043%	$90.2M	$82.3M	100x	as long as short
Binance HYPEUSDT	+0.0065%	4h	93.320	+0.005%	$382.0M	$893.4M	75x	as long as short
edgeX HYPEUSDC	+0.0085%	4h	93.171	−0.154%	$5.1M	$29.7M	30x	as long as short
Lighter HYPE	+0.0096%	1h	93.323	+0.008%	$18.6M	$59.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.317	+0.002%	$3.1M	$12.2M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.331	+0.017%	$397K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.282	−0.036%	$339K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.240	−0.080%	$35K	$1.6M	10x	as long as short
Nado HYPE-PERPshort	+0.0100%	1h	93.255	−0.064%	$5.9M	$44.1M	10x
Hyperliquid HYPE	+0.0100%	1h	93.294	−0.023%	$2.03B	$669.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.293	−0.024%	$10.0M	$14.4M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.315	0.000%	$114.2M	$313.9M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.232	−0.089%	$204K	$8K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.279	−0.039%	$47.0M	$18.7M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.377	+0.066%	$226.5M	$103.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.295	−0.021%	—	$53.8M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.265	−0.054%	$7.8M	$10.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.203	−0.120%	$29.0M	$50.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.199	−0.124%	$7.5M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.153	−0.174%	$414K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.206	−0.117%	$674K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.284	−0.033%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.293	−0.024%	$493K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.336	+0.023%	$76K	$167K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.353	+0.041%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.354	+0.042%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.215	−0.107%	$12.7M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.236	−0.084%	$18.2M	$41.8M	50x	as long as short
Kalshi KXHYPEPERP	+0.0117%	8h	93.294	−0.023%	$1.9M	$5.3M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.310	−0.005%	$4.9M	$5.7M	50x	as long as short
HTX HYPE-USDT	+0.0232%	4h	93.405	+0.096%	$1.5M	$7.7M	75x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	93.140	−0.188%	$30K	$338K	12x	as long as short
Reya HYPERUSDPERP	+0.0247%	1h	93.257	−0.062%	$77K	$159K	15x	as long as short
BloFin HYPE-USDT	+0.0260%	4h	93.211	−0.111%	$16.8M	$12.4M	75x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.325	+0.011%	$2.7M	$6.8M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0165%	1h	93.313	−0.002%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0435%	1h	93.459	+0.154%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0465%	1h	93.364	+0.053%	$20.9M	$29.0M	50x	as long as short