Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.1048%/8h= −114.8% APRpaid last 24h −0.074%

Price spread now: Arcus against KuCoin−0.078%7-day average −0.022% · 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−$34as in the Price arb table

costs, in and out, $10k−$280.279% of the position

Long on KuCoin Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.103%−$10 on $10k

Price spread, last 7 days+0.046%+$5 · spread now −0.078%, 7d avg −0.022%

Together, before fees−0.057%−$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$31 a day on $10k at the current rate, and Arcus is 0.056% cheaper against KuCoin than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.022%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.103% in total (about -10.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin HYPEUSDTM	92.277	0.0100	pay 0.0050% / 4h	37m 54s	$45.8M	$18.3M	75x
Short	Arcus HYPE-USD	92.205	−0.0948	pay 0.0119% / 1h	37m 54s	$1.2M	$3.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against KuCoin. 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 KuCoinbpFee ArcusbpOrdersPrice spread, now −0.078%Rate

Funding earned: −$220.09
Price spread: −0.078% → −0.022%: −$5.64
Slippage, 4 orders: −$11.42
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$253.65
Costs to cover: 0.279%
Break-even: never at this rate

Slippage from KuCoin: live order book, 6 min ago; Arcus: 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 KuCoin live order book, 6 min ago	1.19 bp	10.6 bp −$11	14.7 bp −$147	doesn't fit	doesn't fit
Sell Arcus live order book, 1 min ago	0.54 bp	3.1 bp −$3	5.2 bp −$52	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-USDshort	−0.0948%	1h	92.205	−0.078%	$1.2M	$3.8M	10x
Hibachi HYPE/USDT-P	−0.0432%	1h	92.376	+0.107%	$193K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0158%	1h	92.321	+0.047%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0104%	1h	92.364	+0.094%	$87K	$356K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.278	+0.001%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0069%	4h	92.275	−0.002%	$157K	$663K	20x	as long as short
Bullet HYPE-USD	−0.0048%	1h	92.293	+0.018%	$110K	$580K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.311	+0.037%	$127K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.296	+0.021%	$22K	$309K	10x	as long as short
Aster HYPEUSDT	+0.0001%	4h	92.263	−0.015%	$8.7M	$36.4M	300x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps HYPE-USD.P	+0.0002%	1h	92.250	−0.029%	$695K	$1.1M	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.326	+0.053%	$61K	—	150x	as long as short
BingX HYPE-USDT	+0.0032%	4h	92.269	−0.009%	—	$53.3M	—	as long as short
Phoenix HYPE	+0.0043%	1h	92.379	+0.111%	$209K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0054%	8h	92.250	−0.029%	$315.4M	$281.3M	75x	as long as short
Phemex HYPEUSDT	+0.0062%	8h	92.287	+0.011%	$12.5M	$2.7M	50x	as long as short
Gate HYPE_USDT	+0.0062%	4h	92.272	−0.005%	$44.3M	$55.0M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0079%	8h	92.251	−0.028%	$112.9M	$301.9M	50x	as long as short
Binance HYPEUSDT	+0.0084%	4h	92.266	−0.011%	$369.8M	$901.8M	75x	as long as short
MEXC HYPE_USDT	+0.0084%	4h	92.274	−0.003%	$87.0M	$80.5M	100x	as long as short
edgeX HYPEUSDC	+0.0089%	4h	92.287	+0.011%	$4.9M	$29.5M	30x	as long as short
Derive HYPE-PERP	+0.0090%	1h	92.271	−0.006%	$16.0M	$7.5M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0092%	8h	92.306	+0.032%	$338K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.270	−0.008%	$16.0M	$62.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.276	−0.001%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.336	+0.064%	$68K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.310	+0.036%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.335	+0.063%	$6.8M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.320	+0.047%	$2.01B	$663.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.302	+0.027%	$10.0M	$15.0M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.245	−0.035%	$201K	$13K	10x	as long as short
KuCoin HYPEUSDTMlong	+0.0100%	4h	92.277	long leg	$45.8M	$18.3M	75x
Bitget HYPEUSDT	+0.0100%	4h	92.250	−0.029%	$223.8M	$98.4M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.255	−0.024%	$7.3M	$10.8M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.258	−0.021%	$28.3M	$57.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.315	+0.041%	$7.5M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.289	+0.013%	$337K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.349	+0.078%	$662K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.365	+0.095%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.327	+0.054%	$475K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.270	−0.008%	$78K	$170K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.349	+0.078%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.278	+0.001%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.441	+0.178%	$1.4M	$6.2M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.248	−0.031%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.335	+0.063%	$390K	$164K	20x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	93.000	+0.784%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.390	+0.122%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0253%	8h	92.339	+0.067%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0261%	1h	92.316	+0.042%	$79K	$138K	15x	as long as short
BloFin HYPE-USDT	+0.0325%	4h	92.277	0.000%	$16.7M	$11.5M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0154%	1h	92.315	+0.041%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0333%	1h	92.346	+0.075%	$20.5M	$30.5M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0487%	1h	92.391	+0.124%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.375	+0.106%	$3.1M	$6.4M	20x	as long as short