Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.024%

Price spread now: Pacifica against OKX+0.023%7-day average +0.012% · 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−$21as in the Price arb table

costs, in and out, $10k−$220.218% of the position

Long on OKX Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.029%−$3 on $10k

Price spread, last 7 days−0.033%−$3 · spread now +0.023%, 7d avg +0.012%

Together, before fees−0.061%+ Points / potential airdropPacifica: Active · farm board−$6 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX HYPE-USDT-SWAP	92.850	0.0100	pay 0.0100% / 8h	3h 28m	$113.9M	$304.1M	50x
Short	Pacifica HYPE	92.871	0.0100	get 0.0013% / 1h	28m 25s	$10.0M	$15.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against OKX. 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 OKXbpFee PacificabpOrdersPrice spread, now +0.023%Rate

Funding earned: $0
Price spread: +0.023% → +0.012%: $1.07
Slippage, 4 orders: −$3.77
Fee OKX: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$20.7
Costs to cover: 0.218%
Break-even: never at this rate

Slippage from OKX: live order book, 6 min ago; Pacifica: 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 OKX live order book, 6 min ago	0.05 bp	6.8 bp −$7	8.4 bp −$84	18.8 bp −$1,881	doesn't fit
Sell Pacifica live order book, 1 min ago	0.05 bp	4.3 bp −$4	doesn't fit	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	−0.1568%	1h	92.719	−0.141%	$193K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0304%	1h	92.866	+0.018%	$22K	$21K	10x	as long as short
Arcus HYPE-USD	−0.0194%	1h	92.829	−0.023%	$1.1M	$3.9M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.866	+0.017%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0061%	4h	92.842	−0.009%	$145K	$681K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.906	+0.060%	$127K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.868	+0.019%	$22K	$295K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.890	+0.043%	$62K	—	150x	as long as short
Bullet HYPE-USD	+0.0016%	1h	92.810	−0.043%	$111K	$577K	20x	as long as short
Phoenix HYPE	+0.0026%	1h	92.857	+0.008%	$210K	$1.2M	10x	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	+0.0030%	1h	92.810	−0.043%	$699K	$1.1M	10x	as long as short
Bybit HYPEUSDT	+0.0032%	8h	92.845	−0.005%	$315.6M	$282.6M	75x	as long as short
01 Exchange HYPEUSD	+0.0040%	1h	92.857	+0.008%	$86K	$363K	20x	as long as short
Phemex HYPEUSDT	+0.0048%	8h	92.901	+0.055%	$12.5M	$2.7M	50x	as long as short
Bitget HYPEUSDT	+0.0054%	4h	92.853	+0.003%	$224.9M	$99.2M	75x	as long as short
Popdex HYPEUSDT	+0.0064%	1h	92.845	−0.005%	$70K	$1.1M	50x	as long as short
Lighter HYPE	+0.0096%	1h	92.876	+0.028%	$16.0M	$62.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.884	+0.037%	$3.1M	$11.6M	20x	as long as short
edgeX HYPEUSDC	+0.0097%	4h	92.935	+0.091%	$4.9M	$29.6M	30x	as long as short
Gate HYPE_USDT	+0.0098%	4h	92.852	+0.002%	$45.0M	$54.3M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	92.881	+0.033%	$339K	$163K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.860	+0.011%	$34K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.858	+0.009%	$7.4M	$46.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.892	+0.045%	$2.02B	$666.6M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	92.861	+0.012%	$8.7M	$36.1M	300x	as long as short
Pacifica HYPEshort	+0.0100%	1h	92.871	+0.023%	$10.0M	$15.2M	20x
Binance HYPEUSDT	+0.0100%	4h	92.847	−0.003%	$373.3M	$905.6M	75x	as long as short
OKX HYPE-USDT-SWAPlong	+0.0100%	8h	92.850	long leg	$113.9M	$304.1M	50x
MEXC HYPE_USDT	+0.0100%	4h	92.839	−0.012%	$91.4M	$81.0M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.847	−0.003%	$46.1M	$18.4M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	92.857	+0.008%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.879	+0.031%	$7.2M	$11.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.959	+0.117%	$28.6M	$57.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.003	+0.165%	$7.5M	$46.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.975	+0.135%	$341K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.879	+0.031%	$668K	$2.9M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.905	+0.059%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.881	+0.033%	$471K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.864	+0.015%	$79K	$167K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.847	−0.003%	$16.0M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.942	+0.099%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.864	+0.015%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.005	+0.167%	$1.4M	$6.3M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.770	−0.086%	$202K	$13K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.815	−0.038%	$18.0M	$43.6M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.847	−0.003%	$393K	$164K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.040	+0.205%	$4.7M	$5.6M	50x	as long as short
Kalshi KXHYPEPERP	+0.0175%	8h	92.939	+0.096%	$1.8M	$5.4M	2.3x	as long as short
Kraken Futures PF_HYPEUSD	+0.0197%	1h	92.925	+0.081%	$20.6M	$30.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0242%	1h	92.790	−0.065%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0265%	1h	92.837	−0.014%	$79K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.885	+0.038%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.881	+0.033%	$16.8M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0364%	1h	92.948	+0.106%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0598%	1h	92.910	+0.065%	$3.2M	$6.4M	20x	as long as short