Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0149%/8h= +16.3% APRpaid last 24h +0.075%

Price spread now: RISEx against KuCoin+0.079%7-day average −0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$260.264% of the position

Long on KuCoin Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.154%+$15 on $10k

Price spread, last 7 days−0.102%−$10 · spread now +0.079%, 7d avg −0.002%

Together, before fees+0.052%+$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and RISEx is 0.082% dearer against KuCoin than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin HYPEUSDTM	94.378	0.0100	pay 0.0050% / 4h	6m 01s	$46.9M	$18.8M	75x
Short	RISEx HYPE/USDC	94.453	0.0249	get 0.0031% / 1h	6m 01s	$3.2M	$6.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now +0.079%Rate

Funding earned: $31.23
Price spread: +0.079% → −0.002%: $8.16
Slippage, 4 orders: −$8.45
Fee KuCoin: 6 bp × 2 orders: −$12
Fee RISEx: 3 bp × 2 orders: −$6
Net: $12.94
Costs to cover: 0.264%
Break-even: 4.1 days

Slippage from KuCoin: live order book, 3 min ago; RISEx: 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	0.37 bp	8.4 bp −$8	12.9 bp −$129	doesn't fit	doesn't fit
Sell RISEx live order book, 3 min ago	0.85 bp	3.8 bp −$4	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
Hibachi HYPE/USDT-P	−0.1592%	1h	94.440	+0.066%	$207K	$268K	7x	as long as short
Bluefin HYPE-PERP	−0.0388%	1h	94.367	−0.012%	$80K	$152K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0202%	1h	94.290	−0.093%	$712K	$1.2M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0191%	1h	94.416	+0.040%	$22K	$20K	10x	as long as short
Bullet HYPE-USD	−0.0187%	1h	94.398	+0.021%	$112K	$575K	20x	as long as short
01 Exchange HYPEUSD	−0.0112%	1h	94.449	+0.075%	$88K	$363K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.403	+0.026%	$3K	$331	25x	as long as short
Arcus HYPE-USD	−0.0045%	1h	94.405	+0.029%	$1.0M	$3.5M	10x	as long as short
Derive HYPE-PERP	−0.0027%	1h	94.383	+0.005%	$16.4M	$7.3M	10x	as long as short
BingX HYPE-USDT	−0.0020%	4h	94.379	+0.001%	—	$52.8M	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit HYPEUSDT	−0.0019%	8h	94.390	+0.013%	$317.4M	$288.3M	75x	as long as short
Lighter HYPE	−0.0008%	1h	94.380	+0.003%	$16.3M	$64.7M	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0006%	4h	94.374	−0.004%	$147K	$686K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.466	+0.093%	$130K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.486	+0.114%	$1.9M	$5.5M	2.3x	as long as short
Phoenix HYPE	0.0000%	1h	94.468	+0.095%	$209K	$1.1M	10x	as long as short
Perpl HYPE	0.0000%	43m	94.407	+0.031%	$19K	$286K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.420	+0.045%	$124K	—	150x	as long as short
Bitget HYPEUSDT	+0.0018%	4h	94.396	+0.019%	$226.7M	$100.3M	75x	as long as short
Polymarket Perps HYPE-USD	+0.0020%	1h	94.434	+0.059%	$498K	$2.8M	20x	as long as short
Phemex HYPEUSDT	+0.0040%	8h	94.395	+0.018%	$12.9M	$2.9M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0042%	8h	94.398	+0.021%	$337K	$154K	20x	as long as short
SoDEX HYPE-USD	+0.0051%	1h	94.388	+0.011%	$2.1M	$1.9M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0064%	1h	94.410	+0.034%	$4.7M	$6.2M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0066%	8h	94.406	+0.030%	$117.8M	$325.0M	50x	as long as short
Vest HYPE-PERP	+0.0067%	1h	94.465	+0.093%	—	$190K	5x	as long as short
Gate HYPE_USDT	+0.0086%	4h	94.369	−0.010%	$50.4M	$56.9M	75x	as long as short
edgeX HYPEUSDC	+0.0094%	4h	94.392	+0.015%	$5.0M	$30.6M	30x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.384	+0.006%	$3.2M	$10.9M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.421	+0.046%	$79K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.410	+0.034%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.424	+0.048%	$7.2M	$52.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.479	+0.107%	$2.08B	$687.1M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.383	+0.005%	$8.8M	$36.9M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.428	+0.053%	$10.2M	$14.8M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.389	+0.011%	$378.5M	$932.3M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.428	+0.053%	$218K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.389	+0.012%	$89.5M	$84.4M	100x	as long as short
KuCoin HYPEUSDTMlong	+0.0100%	4h	94.378	long leg	$46.9M	$18.8M	75x
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.360	−0.019%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.383	+0.006%	$29.7M	$54.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.416	+0.041%	$7.6M	$45.3M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.371	−0.007%	$350K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.416	+0.040%	$682K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.455	+0.082%	$32K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.520	+0.150%	$1.4M	$6.8M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.386	+0.008%	$18.3M	$43.0M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.378	0.000%	$399K	$153K	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0150% / S +0.0022%	1h	94.438	+0.063%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0185%	1h	94.740	+0.384%	$31K	$340K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0223%	1h	94.435	+0.061%	$20.2M	$30.2M	50x	as long as short
RISEx HYPE/USDCshort	+0.0249%	1h	94.453	+0.079%	$3.2M	$6.4M	20x
Deribit HYPE_USDC-PERPETUAL	+0.0258%	1h	94.491	+0.120%	$7.5M	$4.3M	50x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.373	−0.005%	$83K	$121K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.403	+0.026%	$17.1M	$12.4M	75x	as long as short