Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0102%/8h= +11.1% APRpaid last 24h +0.026%

Price spread now: KuCoin against Ondo Perps+0.022%7-day average +0.003% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Ondo Perps Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.124%+$12 on $10k

Price spread, last 7 days+0.107%+$11 · spread now +0.022%, 7d avg +0.003%

Together, before fees+0.231%+ Points / potential airdropOndo Perps: Active · farm board+$23 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.003%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps HYPE-USD.P	92.250	−0.0002	get 0.0000% / 1h	37m 21s	$695K	$1.1M	10x
Short	KuCoin HYPEUSDTM	92.270	0.0100	get 0.0050% / 4h	37m 21s	$45.8M	$18.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Ondo Perps. 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 Ondo PerpsbpFee KuCoinbpOrdersPrice spread, now +0.022%Rate

Funding earned: $21.34
Price spread: +0.022% → +0.003%: $1.91
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $6.24
Costs to cover: 0.170%
Break-even: 5.0 days

Slippage unknown: Ondo Perps: no order-book sample; KuCoin: live order book, 2 min ago. Net counts fees only.

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 Ondo Perps no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 2 min ago	0.32 bp	8.9 bp −$9	13.9 bp −$139	doesn't fit	doesn't fit

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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-USD	−0.0948%	1h	92.270	+0.022%	$1.0M	$3.8M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0408%	1h	92.319	+0.075%	$193K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0149%	1h	92.322	+0.079%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0096%	1h	92.258	+0.009%	$86K	$356K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.288	+0.041%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0070%	4h	92.205	−0.049%	$157K	$663K	20x	as long as short
Bullet HYPE-USD	−0.0046%	1h	92.235	−0.016%	$110K	$580K	20x	as long as short
Ondo Perps HYPE-USD.Plong	−0.0002%	1h	92.250	long leg	$695K	$1.1M	10x
dYdX HYPE-USD	0.0000%	1h	92.311	+0.067%	$127K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.206	−0.047%	$22K	$309K	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0001%	4h	92.243	−0.007%	$8.7M	$36.3M	300x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.253	+0.003%	$61K	—	150x	as long as short
BingX HYPE-USDT	+0.0034%	4h	92.245	−0.005%	—	$53.3M	—	as long as short
Phoenix HYPE	+0.0043%	1h	92.379	+0.140%	$209K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0056%	8h	92.260	+0.011%	$315.4M	$281.4M	75x	as long as short
Gate HYPE_USDT	+0.0062%	4h	92.241	−0.010%	$44.2M	$55.0M	75x	as long as short
Phemex HYPEUSDT	+0.0065%	8h	92.288	+0.041%	$12.5M	$2.7M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0079%	8h	92.244	−0.007%	$112.8M	$301.8M	50x	as long as short
MEXC HYPE_USDT	+0.0082%	4h	92.227	−0.025%	$86.9M	$80.5M	100x	as long as short
edgeX HYPEUSDC	+0.0082%	4h	92.333	+0.090%	$4.9M	$29.5M	30x	as long as short
Binance HYPEUSDT	+0.0084%	4h	92.272	+0.024%	$369.9M	$901.5M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0092%	8h	92.306	+0.061%	$338K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.303	+0.057%	$16.0M	$62.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.303	+0.057%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.253	+0.003%	$68K	$1.2M	50x	as long as short
Derive HYPE-PERP	+0.0097%	1h	92.202	−0.052%	$16.0M	$7.5M	10x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.260	+0.011%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.209	−0.045%	$6.8M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.266	+0.017%	$2.01B	$663.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.278	+0.030%	$10.0M	$15.0M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.245	−0.005%	$201K	$13K	10x	as long as short
KuCoin HYPEUSDTMshort	+0.0100%	4h	92.270	+0.022%	$45.8M	$18.3M	75x
Bitget HYPEUSDT	+0.0100%	4h	92.236	−0.015%	$223.7M	$98.4M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.255	+0.005%	$7.3M	$10.8M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.258	+0.009%	$28.3M	$57.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.315	+0.070%	$7.5M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.378	+0.139%	$337K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.349	+0.107%	$662K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.266	+0.017%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.217	−0.036%	$474K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.234	−0.017%	$78K	$170K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.255	+0.005%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.278	+0.030%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.434	+0.199%	$1.4M	$6.2M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.226	−0.026%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.253	+0.003%	$390K	$164K	20x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	92.230	−0.022%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.320	+0.076%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0253%	8h	92.328	+0.085%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0261%	1h	92.204	−0.050%	$79K	$137K	15x	as long as short
BloFin HYPE-USDT	+0.0324%	4h	92.213	−0.040%	$16.7M	$11.5M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0154%	1h	92.241	−0.010%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0333%	1h	92.357	+0.116%	$20.5M	$30.5M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0487%	1h	92.353	+0.112%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.303	+0.058%	$3.1M	$6.4M	20x	as long as short