Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.040%

Price spread now: Pacifica against HTX−0.096%7-day average −0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$300.297% of the position

Long on HTX Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.136%−$14 on $10k

Price spread, last 4 days (all we have)+0.283%+$28 · spread now −0.096%, 7d avg −0.027%

Together, before fees+0.146%+ Points / potential airdropPacifica: Active · farm board+$15 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Pacifica is 0.069% cheaper against HTX than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX HYPE-USDT	92.455	0.0100	pay 0.0050% / 4h	43m 31s	$1.4M	$6.2M	75x
Short	Pacifica HYPE	92.366	0.0100	get 0.0013% / 1h	43m 31s	$10.0M	$15.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against HTX. 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 HTXbpFee PacificabpOrdersPrice spread, now −0.096%Rate

Funding earned: $0
Price spread: −0.096% → −0.027%: −$6.85
Slippage, 4 orders: −$9.67
Fee HTX: 6 bp × 2 orders: −$12
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$36.52
Costs to cover: 0.297%
Break-even: never at this rate

Slippage from HTX: live order book, 1 min ago; Pacifica: live order book, 1 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 HTX live order book, 1 min ago	1.24 bp	10.6 bp −$11	19.4 bp −$194	56.9 bp −$5,693	doesn't fit
Sell Pacifica live order book, 1 min ago	0.05 bp	4.5 bp −$5	doesn't fit	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
Arcus HYPE-USD	−0.0948%	1h	92.247	−0.225%	$1.2M	$3.8M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0536%	1h	92.271	−0.199%	$193K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0159%	1h	92.320	−0.146%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0128%	1h	92.323	−0.143%	$85K	$354K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.319	−0.147%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0070%	4h	92.240	−0.233%	$157K	$663K	20x	as long as short
Bullet HYPE-USD	−0.0052%	1h	92.268	−0.202%	$110K	$579K	20x	as long as short
Aster HYPEUSDT	−0.0012%	4h	92.333	−0.132%	$8.7M	$36.4M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.316	−0.150%	$127K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.292	−0.176%	$22K	$310K	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 −0.0002%	1h	92.283	−0.186%	$61K	—	150x	as long as short
Ondo Perps HYPE-USD.P	+0.0027%	1h	92.230	−0.243%	$696K	$1.1M	10x	as long as short
BingX HYPE-USDT	+0.0030%	4h	92.338	−0.127%	—	$53.2M	—	as long as short
Phoenix HYPE	+0.0043%	1h	92.246	−0.226%	$209K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0048%	8h	92.286	−0.183%	$315.7M	$281.1M	75x	as long as short
Gate HYPE_USDT	+0.0054%	4h	92.332	−0.133%	$44.3M	$54.8M	75x	as long as short
Derive HYPE-PERP	+0.0060%	1h	92.227	−0.246%	$16.0M	$7.5M	10x	as long as short
Phemex HYPEUSDT	+0.0061%	8h	92.305	−0.162%	$12.5M	$2.7M	50x	as long as short
MEXC HYPE_USDT	+0.0074%	4h	92.283	−0.186%	$87.1M	$80.5M	100x	as long as short
OKX HYPE-USDT-SWAP	+0.0076%	8h	92.285	−0.184%	$112.9M	$301.7M	50x	as long as short
Binance HYPEUSDT	+0.0076%	4h	92.310	−0.157%	$370.1M	$898.8M	75x	as long as short
edgeX HYPEUSDC	+0.0078%	4h	92.205	−0.271%	$4.9M	$29.5M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0091%	8h	92.385	−0.076%	$338K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.346	−0.118%	$16.0M	$62.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.346	−0.118%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.325	−0.141%	$68K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	92.257	−0.215%	$390K	$164K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.260	−0.211%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.332	−0.134%	$5.8M	$43.2M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.330	−0.135%	$2.01B	$664.9M	10x	as long as short
Pacifica HYPEshort	+0.0100%	1h	92.366	−0.096%	$10.0M	$15.0M	20x
Bulk HYPE-USD	+0.0100%	1h	92.245	−0.227%	$201K	$13K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.309	−0.158%	$45.8M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.284	−0.185%	$223.8M	$98.3M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.290	−0.178%	$7.3M	$10.2M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.158	−0.321%	$28.3M	$57.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.209	−0.266%	$7.5M	$45.9M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.186	−0.291%	$337K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.228	−0.246%	$662K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.343	−0.122%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.325	−0.141%	$475K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.340	−0.124%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.273	−0.197%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDTlong	+0.0100%	4h	92.455	long leg	$1.4M	$6.2M	75x
Extended HYPE-USD	+0.0104%	1h	92.307	−0.160%	$18.1M	$43.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	92.170	−0.308%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.370	−0.092%	$4.7M	$5.5M	50x	as long as short
Bluefin HYPE-PERP	+0.0206%	1h	92.230	−0.243%	$78K	$169K	20x	as long as short
Kalshi KXHYPEPERP	+0.0259%	8h	92.294	−0.174%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0261%	1h	92.268	−0.203%	$79K	$139K	15x	as long as short
BloFin HYPE-USDT	+0.0299%	4h	92.165	−0.314%	$16.7M	$11.5M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0329% / S −0.0153%	1h	92.284	−0.185%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0333%	1h	92.343	−0.121%	$20.5M	$30.4M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0617%	1h	92.362	−0.101%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.404	−0.055%	$3.1M	$6.4M	20x	as long as short