Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.008%

Price spread now: KuCoin against Pacifica−0.011%7-day average +0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$310.306% of the position

Long on Pacifica Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.081%+$8 on $10k

Price spread, last 7 days+0.026%+$3 · spread now −0.011%, 7d avg +0.003%

Together, before fees+0.107%+ Points / potential airdropPacifica: Active · farm board+$11 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica HYPE	93.670	0.0100	pay 0.0013% / 1h	48m 18s	$10.1M	$15.4M	20x
Short	KuCoin HYPEUSDTM	93.660	0.0100	get 0.0050% / 4h	1h 48m	$46.3M	$18.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Pacifica. 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 PacificabpFee KuCoinbpOrdersPrice spread, now −0.011%Rate

Funding earned: $0
Price spread: −0.011% → +0.003%: −$1.34
Slippage, 4 orders: −$10.62
Fee Pacifica: 4 bp × 2 orders: −$8
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$31.96
Costs to cover: 0.306%
Break-even: never at this rate

Slippage from Pacifica: live order book, 1 min ago; KuCoin: live order book, 11 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 Pacifica live order book, 1 min ago	0.05 bp	5.7 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 11 min ago	1.17 bp	9.0 bp −$9	12.1 bp −$121	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	−0.1136%	1h	93.719	+0.052%	$199K	$242K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0243%	1h	93.808	+0.147%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0133%	1h	93.610	−0.064%	$706K	$1.2M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.589	−0.087%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0065%	1h	93.618	−0.056%	$111K	$580K	20x	as long as short
01 Exchange HYPEUSD	−0.0064%	1h	93.618	−0.056%	$86K	$371K	20x	as long as short
Bluefin HYPE-PERP	−0.0035%	1h	93.612	−0.062%	$79K	$156K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0020%	4h	93.610	−0.064%	$145K	$685K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.622	−0.052%	$128K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.624	−0.049%	$21K	$287K	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.657	−0.014%	$63K	—	150x	as long as short
Bybit HYPEUSDT	+0.0010%	8h	93.610	−0.064%	$316.2M	$288.0M	75x	as long as short
BingX HYPE-USDT	+0.0010%	4h	93.625	−0.048%	—	$53.7M	—	as long as short
Phoenix HYPE	+0.0017%	1h	93.780	+0.117%	$210K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0040%	4h	93.626	−0.047%	$225.5M	$99.6M	75x	as long as short
ApeX Omni HYPEUSDT	+0.0074%	1h	93.801	+0.140%	$348K	$1.0M	50x	as long as short
Phemex HYPEUSDT	+0.0074%	8h	93.656	−0.015%	$12.8M	$2.8M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0083%	8h	93.647	−0.025%	$335K	$161K	20x	as long as short
Arcus HYPE-USD	+0.0084%	1h	93.590	−0.086%	$1.0M	$4.0M	10x	as long as short
edgeX HYPEUSDC	+0.0091%	4h	93.758	+0.094%	$5.0M	$30.5M	30x	as long as short
Derive HYPE-PERP	+0.0092%	1h	93.587	−0.089%	$16.3M	$7.4M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.631	−0.042%	$16.1M	$63.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.618	−0.056%	$3.1M	$11.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.598	−0.077%	$78K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.600	−0.075%	$23K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.606	−0.069%	$7.4M	$50.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.707	+0.039%	$2.05B	$682.6M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.636	−0.037%	$8.9M	$37.4M	300x	as long as short
Pacifica HYPElong	+0.0100%	1h	93.670	long leg	$10.1M	$15.4M	20x
Binance HYPEUSDT	+0.0100%	4h	93.633	−0.040%	$375.2M	$931.1M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.624	−0.049%	$115.7M	$316.1M	50x	as long as short
Gate HYPE_USDT	+0.0100%	4h	93.624	−0.049%	$48.4M	$55.0M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.611	−0.063%	$88.8M	$83.3M	100x	as long as short
KuCoin HYPEUSDTMshort	+0.0100%	4h	93.660	−0.011%	$46.3M	$18.8M	75x
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.611	−0.063%	$7.2M	$10.8M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.670	−0.001%	$28.6M	$56.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.726	+0.060%	$7.6M	$48.1M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.679	+0.009%	$679K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.685	+0.016%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.633	−0.040%	$470K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.681	+0.011%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.632	−0.041%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.799	+0.137%	$1.4M	$6.7M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.731	+0.065%	$216K	$15K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.596	−0.079%	$18.2M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.622	−0.051%	$396K	$159K	20x	as long as short
Kalshi KXHYPEPERP	+0.0106%	8h	93.653	−0.018%	$1.8M	$5.6M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	93.680	+0.010%	$4.7M	$6.1M	50x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	93.670	0.000%	$30K	$339K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0262%	1h	93.715	+0.048%	$7.4M	$4.2M	50x	as long as short
Reya HYPERUSDPERP	+0.0271%	1h	93.602	−0.073%	$77K	$130K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0333% / S −0.0154%	1h	93.664	−0.006%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.600	−0.075%	$17.0M	$12.2M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0415%	1h	93.702	+0.034%	$20.9M	$29.6M	50x	as long as short
RISEx HYPE/USDC	+0.0559%	1h	93.644	−0.028%	$3.2M	$6.4M	20x	as long as short