Settings8H · net · $10k
Funding arb · Price arb /

HYPE

all HYPE markets
SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%
Price spread now: Pacifica against Katana Perps−0.003%7-day average +0.047% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.014%+$1 on $10k
Price spread, last 7 days+0.057%+$6 · spread now −0.003%, 7d avg +0.047%
Together, before fees+0.071%+ Points / potential airdropPacifica: Active · farm board+$7 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 0.050% cheaper against Katana Perps than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.047%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKatana Perps HYPE-USD93.8000.0100pay 0.0100% / 8h1h 50m$23K$1.7M10x
ShortPacifica HYPE93.7970.0100get 0.0013% / 1h50m 37s$10.1M$15.4M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Pacifica against Katana Perps. 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

Funding earned
$0.09
Price spread: −0.003% → +0.047%
−$4.99
Slippage, 4 orders
no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders
−$3.8
Fee Pacifica: 4 bp × 2 orders
−$8
Net
−$16.7
Costs to cover
0.118%
Break-even
1272.0 days
Slippage unknown: Katana Perps: no order-book sample; Pacifica: live order book, 3 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Katana Perps no order-book sample
Sell Pacifica live order book, 3 min ago0.43 bp4.7 bp −$5doesn't fitdoesn't fitdoesn't fit
Katana Perps: 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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-P−0.1160%1h93.719−0.087%$199K$242K7xas long as short
Aftermath Perps HYPEUSD−0.0263%1h93.883+0.089%$22K$21K10xas long as short
Ondo Perps HYPE-USD.P−0.0109%1h93.630−0.181%$706K$1.2M10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.712−0.094%$3K$33125xas long as short
01 Exchange HYPEUSD−0.0064%1h93.826+0.028%$86K$372K20xas long as short
Bullet HYPE-USD−0.0040%1h93.703−0.103%$111K$581K20xas long as short
Bluefin HYPE-PERP−0.0036%1h93.694−0.113%$79K$156K20xas long as short
Orderly PERP_HYPE_USDC−0.0019%4h93.672−0.136%$149K$681K20xas long as short
dYdX HYPE-USD0.0000%1h93.821+0.022%$129K$29K5xas long as short
Perpl HYPE0.0000%43m93.729−0.076%$22K$285K10xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0002%1h93.737−0.068%$63K150xas long as short
BingX HYPE-USDT+0.0010%4h93.774−0.028%$53.8Mas long as short
Bybit HYPEUSDT+0.0013%8h93.780−0.021%$316.8M$287.7M75xas long as short
Phoenix HYPE+0.0017%1h93.780−0.021%$210K$1.1M10xas long as short
Bitget HYPEUSDT+0.0040%4h93.780−0.021%$225.9M$99.5M75xas long as short
Phemex HYPEUSDT+0.0066%8h93.752−0.051%$12.8M$2.8M50xas long as short
ApeX Omni HYPEUSDT+0.0074%1h93.801+0.001%$348K$1.0M50xas long as short
Arcus HYPE-USD+0.0084%1h93.754−0.049%$1.0M$4.0M10xas long as short
Paradex HYPE-USD-PERP+0.0086%8h93.796−0.005%$335K$161K20xas long as short
edgeX HYPEUSDC+0.0091%4h93.758−0.045%$5.0M$30.5M30xas long as short
Derive HYPE-PERP+0.0092%1h93.670−0.139%$16.3M$7.5M10xas long as short
Lighter HYPE+0.0096%1h93.763−0.039%$16.2M$63.5M20xas long as short
Lighter RH HYPE+0.0096%1h93.770−0.032%$3.1M$11.1M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.787−0.014%$78K$1.2M50xas long as short
Katana Perps HYPE-USDlong+0.0100%8h93.800long leg$23K$1.7M10x
Nado HYPE-PERP+0.0100%1h93.698−0.108%$7.4M$50.9M10xas long as short
Hyperliquid HYPE+0.0100%1h93.854+0.057%$2.05B$681.3M10xas long as short
Aster HYPEUSDT+0.0100%4h93.764−0.039%$8.9M$37.4M300xas long as short
Pacifica HYPEshort+0.0100%1h93.797−0.003%$10.1M$15.4M20x
Binance HYPEUSDT+0.0100%4h93.770−0.032%$376.0M$929.9M75xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.788−0.013%$115.8M$316.5M50xas long as short
Gate HYPE_USDT+0.0100%4h93.772−0.030%$48.4M$54.9M75xas long as short
MEXC HYPE_USDT+0.0100%4h93.762−0.041%$88.9M$83.2M100xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.759−0.044%$46.3M$18.8M75xas long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.780−0.021%$7.2M$10.8M20xas long as short
Variational Omni HYPE+0.0100%8h93.670−0.139%$28.6M$56.1Mas long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.822+0.023%$7.6M$48.1M10xas long as short
StandX HYPE-USD+0.0100%1h93.767−0.035%$679K$2.8M20xas long as short
Vest HYPE-PERP+0.0100%1h93.768−0.034%$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.725−0.080%$470K$2.8M20xas long as short
SunX HYPE-USDT+0.0100%4h93.774−0.028%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.700−0.107%$2.0M$1.9M10xas long as short
HTX HYPE-USDT+0.0100%4h93.850+0.053%$1.4M$6.7M75xas long as short
Bulk HYPE-USD+0.0100%1h93.731−0.073%$216K$15K10xas long as short
Extended HYPE-USD+0.0104%1h93.749−0.054%$18.2M$43.3M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.697−0.110%$396K$159K20xas long as short
Kalshi KXHYPEPERP+0.0106%8h93.778−0.023%$1.8M$5.6M2.3xas long as short
Coinbase International HYPE-PERP-INTX+0.0120%1h93.700−0.107%$4.7M$6.1M50xas long as short
Injective HYPE/USDC PERP+0.0205%1h94.610+0.864%$31K$339K12xas long as short
Reya HYPERUSDPERP+0.0271%1h93.683−0.125%$77K$130K15xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0333% / S −0.0154%1h93.736−0.069%$1.4M100xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0337%1h93.8000.000%$7.4M$4.2M50xas long as short
BloFin HYPE-USDT+0.0340%4h93.701−0.106%$17.0M$12.2M75xas long as short
Kraken Futures PF_HYPEUSD+0.0415%1h93.768−0.034%$20.9M$29.6M50xas long as short
RISEx HYPE/USDC+0.0559%1h93.833+0.036%$3.2M$6.4M20xas long as short