Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.009%

Price spread now: Extended against KuCoin−0.055%7-day average −0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$290.288% of the position

Long on KuCoin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.028%+$3 on $10k

Price spread, last 7 days+0.056%+$6 · spread now −0.055%, 7d avg −0.031%

Together, before fees+0.084%+ Points / potential airdropExtended: Active · farm board+$8 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: Extended is 0.024% cheaper against KuCoin than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin HYPEUSDTM	94.254	0.0100	pay 0.0050% / 4h	1h 16m	$46.9M	$18.6M	75x
Short	Extended HYPE-USD	94.202	0.0104	get 0.0013% / 1h	16m 26s	$18.2M	$43.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.055%Rate

Funding earned: $0.84
Price spread: −0.055% → −0.031%: −$2.38
Slippage, 4 orders: −$11.77
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$30.31
Costs to cover: 0.288%
Break-even: 259.6 days

Slippage from KuCoin: live order book, 3 min ago; Extended: live order book, 3 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, 3 min ago	0.69 bp	10.6 bp −$11	15.0 bp −$150	doesn't fit	doesn't fit
Sell Extended live order book, 3 min ago	0.05 bp	2.6 bp −$3	3.5 bp −$35	23.7 bp −$2,375	doesn't fit

HYPE on 54 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	−0.1096%	1h	94.167	−0.092%	$200K	$236K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0181%	1h	94.224	−0.031%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.286	+0.034%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0060%	1h	94.253	−0.002%	$111K	$579K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0054%	1h	94.200	−0.057%	$709K	$1.2M	10x	as long as short
01 Exchange HYPEUSD	−0.0032%	1h	94.261	+0.007%	$86K	$368K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0013%	4h	94.191	−0.067%	$146K	$685K	20x	as long as short
Bluefin HYPE-PERP	−0.0012%	1h	94.222	−0.034%	$80K	$155K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.284	+0.032%	$129K	$26K	5x	as long as short
Bybit HYPEUSDT	0.0000%	8h	94.221	−0.035%	$317.0M	$289.4M	75x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	94.272	+0.019%	$19K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	94.279	+0.027%	$84K	—	150x	as long as short
Phoenix HYPE	+0.0017%	1h	94.307	+0.056%	$207K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0054%	4h	94.230	−0.025%	$227.1M	$99.3M	75x	as long as short
Phemex HYPEUSDT	+0.0058%	8h	94.180	−0.079%	$12.8M	$2.9M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0078%	8h	94.314	+0.063%	$337K	$156K	20x	as long as short
edgeX HYPEUSDC	+0.0084%	4h	94.244	−0.010%	$5.0M	$30.7M	30x	as long as short
Arcus HYPE-USD	+0.0084%	1h	94.230	−0.025%	$1.0M	$3.5M	10x	as long as short
Lighter HYPE	+0.0096%	1h	94.270	+0.017%	$16.3M	$64.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.281	+0.029%	$3.2M	$11.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.241	−0.014%	$78K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.260	+0.006%	$17K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.254	+0.001%	$7.5M	$50.5M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.352	+0.104%	$2.07B	$687.6M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.263	+0.009%	$8.8M	$37.1M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.279	+0.026%	$10.2M	$15.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.254	0.000%	$377.1M	$932.0M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	94.230	−0.025%	$116.0M	$318.8M	50x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.231	−0.024%	$49.2M	$56.5M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.253	−0.001%	$90.1M	$85.1M	100x	as long as short
KuCoin HYPEUSDTMlong	+0.0100%	4h	94.254	long leg	$46.9M	$18.6M	75x
BingX HYPE-USDT	+0.0100%	4h	94.232	−0.023%	—	$53.6M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.269	+0.016%	$7.2M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.229	−0.027%	$29.0M	$56.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.298	+0.046%	$7.6M	$47.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.205	−0.052%	$362K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.297	+0.046%	$682K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.326	+0.077%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.260	+0.006%	$495K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.271	+0.018%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.237	−0.018%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.384	+0.138%	$1.4M	$6.8M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.275	+0.022%	$218K	$15K	10x	as long as short
Kalshi KXHYPEPERP	+0.0100%	8h	94.291	+0.039%	$1.8M	$5.6M	2.3x	as long as short
Extended HYPE-USDshort	+0.0104%	1h	94.202	−0.055%	$18.2M	$43.3M	50x
Aevo HYPE-PERP	+0.0104%	1h	94.247	−0.008%	$398K	$159K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	94.260	+0.006%	$4.7M	$6.2M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0151% / S +0.0022%	1h	94.310	+0.059%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0196%	1h	94.304	+0.053%	$7.5M	$4.3M	50x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.610	+0.378%	$31K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.246	−0.008%	$77K	$129K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.245	−0.010%	$16.9M	$12.3M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0413%	1h	94.275	+0.022%	$20.2M	$30.4M	50x	as long as short
RISEx HYPE/USDC	+0.0559%	1h	94.275	+0.023%	$3.2M	$6.4M	20x	as long as short