Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0063%/8h= +6.9% APRpaid last 24h +0.034%

Price spread now: Paradex against Gate−0.024%7-day average +0.032% · 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−$63as in the Price arb table

costs, in and out, $10k−$570.574% of the position

Long on Gate Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.043%+$4 on $10k

Price spread, last 4 days (all we have)−0.119%−$12 · spread now −0.024%, 7d avg +0.032%

Together, before fees−0.076%+ Points / potential airdropParadex: Active · farm board−$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. Paradex is 0.056% cheaper against Gate than usual: you would sell low and buy high (spread −0.024% now, against its 7-day average of +0.032%). If the spread goes back, that is −$6 on $10k: about 2.9 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate HYPE_USDT	93.259	0.0036	pay 0.0018% / 4h	1h 59m	$44.0M	$56.3M	75x
Short	Paradex HYPE-USD-PERP	93.237	0.0099	get 0.0099% / 8h	1h 59m	$339K	$170K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.024%Rate

Funding earned: $13.29
Price spread: −0.024% → +0.032%: −$5.58
Slippage, 4 orders: −$38.43
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$49.72
Costs to cover: 0.574%
Break-even: 33.2 days

Slippage from Gate: live order book, 5 min ago; Paradex: live order book, 25 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, 5 min ago	0.64 bp	9.5 bp −$9	14.6 bp −$146	30.9 bp −$3,091	53.8 bp −$26.9K
Sell Paradex live order book, 25 min ago	16.62 bp	18.6 bp −$19	21.0 bp −$210	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	−0.0768%	1h	93.294	+0.037%	$197K	$232K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0276%	1h	93.283	+0.026%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0131%	1h	93.201	−0.062%	$1.2M	$4.1M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.214	−0.048%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0076%	1h	93.150	−0.117%	$701K	$932K	10x	as long as short
Derive HYPE-PERP	−0.0037%	1h	93.209	−0.053%	$16.4M	$7.1M	10x	as long as short
Bullet HYPE-USD	−0.0033%	1h	93.243	−0.017%	$111K	$580K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.280	+0.022%	$127K	$32K	5x	as long as short
01 Exchange HYPEUSD	0.0000%	1h	93.291	+0.034%	$90K	$360K	20x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.335	+0.081%	$1.9M	$5.3M	2.3x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	93.251	−0.009%	$23K	$334K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.299	+0.043%	$20K	—	150x	as long as short
Aster HYPEUSDT	+0.0008%	4h	93.253	−0.006%	$8.9M	$35.8M	300x	as long as short
Bybit HYPEUSDT	+0.0028%	8h	93.140	−0.128%	$324.4M	$287.3M	75x	as long as short
Gate HYPE_USDTlong	+0.0036%	4h	93.259	long leg	$44.0M	$56.3M	75x
Orderly PERP_HYPE_USDC	+0.0049%	4h	93.281	+0.024%	$167K	$512K	20x	as long as short
Phoenix HYPE	+0.0068%	1h	93.358	+0.106%	$216K	$1.2M	10x	as long as short
Vest HYPE-PERP	+0.0078%	1h	93.279	+0.021%	—	$454K	5x	as long as short
Lighter HYPE	+0.0096%	1h	93.308	+0.053%	$18.6M	$58.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.287	+0.030%	$3.1M	$12.0M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.263	+0.004%	$57K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERPshort	+0.0099%	8h	93.237	−0.024%	$339K	$170K	20x
Katana Perps HYPE-USD	+0.0100%	8h	93.260	+0.001%	$36K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.254	−0.005%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.295	+0.039%	$2.03B	$672.1M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.246	−0.014%	$10.0M	$14.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.190	−0.074%	$384.5M	$889.5M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.167	−0.099%	$114.7M	$314.4M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.271	+0.013%	$204K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.275	+0.017%	$92.7M	$80.9M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.280	+0.023%	$46.2M	$18.8M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.255	−0.004%	$226.5M	$102.6M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.251	−0.009%	—	$54.2M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.290	+0.033%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.252	−0.008%	$29.1M	$50.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.313	+0.057%	$7.5M	$44.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.276	+0.018%	$405K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.324	+0.070%	$675K	$2.5M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.297	+0.041%	$493K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.278	+0.020%	$76K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.299	+0.043%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.265	+0.006%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.263	+0.004%	$12.7M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.262	+0.004%	$18.4M	$41.8M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.291	+0.035%	$397K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0111%	4h	93.275	+0.017%	$5.1M	$29.5M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.360	+0.108%	$4.9M	$5.7M	50x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	93.160	−0.106%	$30K	$291K	12x	as long as short
Reya HYPERUSDPERP	+0.0246%	1h	93.268	+0.010%	$78K	$158K	15x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.301	+0.045%	$2.8M	$6.8M	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0296%	1h	93.375	+0.124%	$7.4M	$4.6M	50x	as long as short
HTX HYPE-USDT	+0.0301%	4h	93.485	+0.242%	$1.5M	$7.6M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0165%	1h	93.291	+0.034%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.267	+0.009%	$17.0M	$12.4M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0465%	1h	93.432	+0.186%	$19.8M	$27.0M	50x	as long as short