Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.001%

Price spread now: MEXC against KuCoin+0.020%7-day average +0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$240.242% of the position

Long on KuCoin Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.006%−$1 on $10k

Price spread, last 7 days−0.017%−$2 · spread now +0.020%, 7d avg +0.005%

Together, before fees−0.023%−$2 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin HYPEUSDTM	94.431	0.0100	pay 0.0050% / 4h	8m 54s	$46.9M	$18.8M	75x
Short	MEXC HYPE_USDT	94.450	0.0100	get 0.0050% / 4h	8m 54s	$89.6M	$84.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.020%Rate

Funding earned: $0
Price spread: +0.020% → +0.005%: $1.49
Slippage, 4 orders: −$8.21
Fee KuCoin: 6 bp × 2 orders: −$12
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$22.72
Costs to cover: 0.242%
Break-even: never at this rate

Slippage from KuCoin: live order book, 10 min ago; MEXC: live order book, 5 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, 10 min ago	0.05 bp	9.8 bp −$10	14.9 bp −$149	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	0.05 bp	2.1 bp −$2	6.0 bp −$60	12.4 bp −$1,241	35.6 bp −$17.8K

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	−0.1632%	1h	94.433	+0.003%	$207K	$268K	7x	as long as short
Bluefin HYPE-PERP	−0.0393%	1h	94.375	−0.059%	$80K	$152K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0206%	1h	94.380	−0.054%	$711K	$1.2M	10x	as long as short
Bullet HYPE-USD	−0.0199%	1h	94.383	−0.051%	$112K	$575K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0177%	1h	94.403	−0.029%	$22K	$20K	10x	as long as short
01 Exchange HYPEUSD	−0.0112%	1h	94.392	−0.041%	$88K	$365K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.373	−0.061%	$3K	$331	25x	as long as short
Arcus HYPE-USD	−0.0045%	1h	94.371	−0.064%	$1.0M	$3.5M	10x	as long as short
Derive HYPE-PERP	−0.0027%	1h	94.351	−0.084%	$16.4M	$7.3M	10x	as long as short
Bybit HYPEUSDT	−0.0020%	8h	94.430	−0.001%	$317.4M	$288.4M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX HYPE-USDT	−0.0020%	4h	94.441	+0.011%	—	$52.9M	—	as long as short
Lighter HYPE	−0.0008%	1h	94.390	−0.043%	$16.4M	$64.6M	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0007%	4h	94.381	−0.053%	$147K	$686K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.388	−0.046%	$129K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.469	+0.040%	$1.9M	$5.6M	2.3x	as long as short
Phoenix HYPE	0.0000%	1h	94.468	+0.039%	$209K	$1.1M	10x	as long as short
Perpl HYPE	0.0000%	43m	94.380	−0.054%	$19K	$286K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.441	+0.011%	$124K	—	150x	as long as short
Polymarket Perps HYPE-USD	+0.0018%	1h	94.419	−0.013%	$498K	$2.8M	20x	as long as short
Bitget HYPEUSDT	+0.0020%	4h	94.424	−0.007%	$226.7M	$100.2M	75x	as long as short
Phemex HYPEUSDT	+0.0038%	8h	94.376	−0.058%	$12.9M	$2.9M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0040%	8h	94.392	−0.041%	$337K	$154K	20x	as long as short
SoDEX HYPE-USD	+0.0055%	1h	94.387	−0.047%	$2.1M	$1.9M	10x	as long as short
Vest HYPE-PERP	+0.0059%	1h	94.463	+0.034%	—	$190K	5x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0064%	1h	94.460	+0.031%	$4.7M	$6.2M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0066%	8h	94.437	+0.006%	$117.8M	$325.1M	50x	as long as short
Gate HYPE_USDT	+0.0088%	4h	94.421	−0.011%	$50.4M	$56.9M	75x	as long as short
edgeX HYPEUSDC	+0.0094%	4h	94.392	−0.041%	$5.0M	$30.6M	30x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.391	−0.042%	$3.2M	$10.9M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.370	−0.065%	$79K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.360	−0.075%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.385	−0.049%	$7.2M	$52.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.474	+0.046%	$2.08B	$686.9M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.432	+0.001%	$8.8M	$36.9M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.413	−0.020%	$10.2M	$14.8M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.437	+0.006%	$378.7M	$931.8M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.307	−0.131%	$218K	$12K	10x	as long as short
MEXC HYPE_USDTshort	+0.0100%	4h	94.450	+0.020%	$89.6M	$84.3M	100x
KuCoin HYPEUSDTMlong	+0.0100%	4h	94.431	long leg	$46.9M	$18.8M	75x
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.364	−0.071%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.383	−0.051%	$29.7M	$54.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.416	−0.016%	$7.6M	$45.3M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.371	−0.064%	$350K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.419	−0.013%	$683K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.447	+0.017%	$32K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.503	+0.076%	$1.4M	$6.8M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.415	−0.017%	$18.3M	$43.0M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.357	−0.079%	$399K	$153K	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0150% / S +0.0022%	1h	94.450	+0.021%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0185%	1h	94.740	+0.327%	$31K	$340K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0223%	1h	94.418	−0.014%	$20.2M	$30.2M	50x	as long as short
RISEx HYPE/USDC	+0.0249%	1h	94.394	−0.040%	$3.2M	$6.4M	20x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.381	−0.053%	$83K	$121K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0311%	1h	94.497	+0.070%	$7.5M	$4.3M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.399	−0.034%	$17.1M	$12.4M	75x	as long as short