Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0108%/8h= −11.8% APRpaid last 24h +0.007%

Price spread now: 01 Exchange against Gate+0.015%7-day average +0.048% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$330.330% of the position

Long on Gate Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.012%+$1 on $10k

Price spread, last 4 days (all we have)+0.028%+$3 · spread now +0.015%, 7d avg +0.048%

Together, before fees+0.040%+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and 01 Exchange is 0.033% cheaper against Gate than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.048%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate HYPE_USDT	93.244	0.0028	pay 0.0014% / 4h	2h 05m	$43.9M	$57.8M	75x
Short	01 Exchange HYPEUSD	93.258	−0.0080	pay 0.0010% / 1h	5m 04s	$90K	$359K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now +0.015%Rate

Funding earned: −$22.68
Price spread: +0.015% → +0.048%: −$3.28
Slippage, 4 orders: −$11.02
Fee Gate: 7.5 bp × 2 orders: −$15
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$58.98
Costs to cover: 0.330%
Break-even: never at this rate

Slippage from Gate: live order book, 4 min ago; 01 Exchange: live order book, 19 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	0.75 bp	10.6 bp −$11	13.7 bp −$137	31.8 bp −$3,176	55.4 bp −$27.7K
Sell 01 Exchange live order book, 19 min ago	0.05 bp	6.1 bp −$6	10.1 bp −$101	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	−0.0840%	1h	93.256	+0.013%	$197K	$233K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0259%	1h	93.348	+0.111%	$22K	$22K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0230%	1h	93.210	−0.036%	$700K	$934K	10x	as long as short
01 Exchange HYPEUSDshort	−0.0080%	1h	93.258	+0.015%	$90K	$359K	20x
Hotstuff HYPE-PERP	−0.0080%	1h	93.220	−0.026%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0042%	1h	93.206	−0.041%	$111K	$580K	20x	as long as short
Derive HYPE-PERP	−0.0035%	1h	93.193	−0.055%	$16.3M	$7.1M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.280	+0.038%	$127K	$32K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.300	+0.060%	$1.9M	$5.3M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.245	+0.002%	$23K	$335K	10x	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 −0.0001%	1h	93.282	+0.041%	$20K	—	150x	as long as short
Aster HYPEUSDT	+0.0009%	4h	93.247	+0.003%	$8.9M	$35.8M	300x	as long as short
Gate HYPE_USDTlong	+0.0028%	4h	93.244	long leg	$43.9M	$57.8M	75x
Bybit HYPEUSDT	+0.0030%	8h	93.278	+0.036%	$324.9M	$287.0M	75x	as long as short
Popdex HYPEUSDT	+0.0032%	1h	93.240	−0.004%	$56K	$1.2M	50x	as long as short
Orderly PERP_HYPE_USDC	+0.0052%	4h	93.261	+0.018%	$166K	$539K	20x	as long as short
Phoenix HYPE	+0.0068%	1h	93.279	+0.038%	$215K	$1.2M	10x	as long as short
Vest HYPE-PERP	+0.0082%	1h	93.259	+0.016%	—	$454K	5x	as long as short
SoDEX HYPE-USD	+0.0084%	1h	93.243	−0.001%	$2.0M	$2.0M	10x	as long as short
Bluefin HYPE-PERP	+0.0096%	1h	93.269	+0.027%	$76K	$168K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.285	+0.044%	$18.6M	$60.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.272	+0.030%	$3.1M	$12.4M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.234	−0.011%	$339K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.280	+0.039%	$36K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.243	−0.002%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.312	+0.073%	$2.03B	$671.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.239	−0.005%	$10.0M	$14.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.299	+0.059%	$385.0M	$889.1M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.282	+0.041%	$114.6M	$314.7M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.206	−0.041%	$1.2M	$4.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.285	+0.044%	$204K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.291	+0.050%	$93.1M	$82.5M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.293	+0.053%	$46.2M	$18.8M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.287	+0.046%	$226.6M	$102.6M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.246	+0.002%	—	$54.2M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.289	+0.048%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.211	−0.036%	$29.0M	$50.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.304	+0.064%	$7.5M	$45.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.323	+0.085%	$405K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.270	+0.028%	$674K	$2.5M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.265	+0.023%	$492K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.290	+0.049%	$32K	$1.6M	20x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.254	+0.011%	$12.7M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.258	+0.015%	$18.4M	$41.7M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.257	+0.013%	$397K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0113%	4h	93.268	+0.026%	$5.1M	$29.4M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.260	+0.017%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0246%	1h	93.242	−0.002%	$78K	$158K	15x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.910	+0.714%	$31K	$291K	12x	as long as short
HTX HYPE-USDT	+0.0295%	4h	93.433	+0.203%	$1.5M	$7.6M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0165%	1h	93.277	+0.035%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.244	0.000%	$17.1M	$12.4M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0350%	1h	93.360	+0.124%	$7.4M	$4.6M	50x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.307	+0.067%	$2.8M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0574%	1h	93.404	+0.171%	$19.5M	$26.6M	50x	as long as short