Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Pacifica against Variational Omni+0.067%7-day average +0.027% · you sell dearer than you buy

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

Long on Variational Omni Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.004%$0 on $10k

Price spread, last 7 days−0.048%−$5 · spread now +0.067%, 7d avg +0.027%

Together, before fees−0.044%+ Points / potential airdropVariational Omni: Active · Pacifica: Active · farm board−$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Pacifica is 0.040% dearer against Variational Omni than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni HYPE	92.158	0.0100	pay 0.0100% / 8h	4h 44m	$28.3M	$57.3M	—
Short	Pacifica HYPE	92.220	0.0100	get 0.0013% / 1h	44m 57s	$10.0M	$15.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Variational Omni. 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 Variational OmnibpFee PacificabpOrdersPrice spread, now +0.067%Rate

Funding earned: $0
Price spread: +0.067% → +0.027%: $4.02
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$3.98
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Pacifica: live order book, 4 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 Variational Omni RFQ quote, 4 min ago	0.44 bp	doesn't fit	3.5 bp −$35	12.8 bp −$1,284	doesn't fit
Sell Pacifica live order book, 4 min ago	0.05 bp	5.1 bp −$5	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
Arcus HYPE-USD	−0.0948%	1h	92.187	+0.032%	$1.2M	$3.8M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0592%	1h	92.223	+0.071%	$193K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0139%	1h	92.368	+0.228%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0128%	1h	92.184	+0.028%	$85K	$353K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.174	+0.017%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0071%	4h	92.174	+0.017%	$157K	$663K	20x	as long as short
Bullet HYPE-USD	−0.0062%	1h	92.179	+0.023%	$110K	$580K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0014%	1h	92.110	−0.052%	$696K	$1.1M	10x	as long as short
Aster HYPEUSDT	−0.0013%	4h	92.180	+0.024%	$8.6M	$36.4M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.238	+0.087%	$126K	$31K	5x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	92.198	+0.044%	$22K	$310K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.210	+0.056%	$61K	—	150x	as long as short
BingX HYPE-USDT	+0.0030%	4h	92.191	+0.036%	—	$53.3M	—	as long as short
Phoenix HYPE	+0.0043%	1h	92.430	+0.295%	$209K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0043%	8h	92.200	+0.046%	$315.5M	$280.9M	75x	as long as short
Gate HYPE_USDT	+0.0046%	4h	92.192	+0.037%	$44.3M	$54.7M	75x	as long as short
Derive HYPE-PERP	+0.0060%	1h	92.145	−0.014%	$16.0M	$7.5M	10x	as long as short
Phemex HYPEUSDT	+0.0067%	8h	92.180	+0.024%	$12.4M	$2.7M	50x	as long as short
MEXC HYPE_USDT	+0.0074%	4h	92.187	+0.032%	$87.0M	$80.4M	100x	as long as short
Binance HYPEUSDT	+0.0075%	4h	92.196	+0.041%	$369.6M	$897.9M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0076%	8h	92.210	+0.056%	$112.6M	$301.0M	50x	as long as short
edgeX HYPEUSDC	+0.0078%	4h	92.205	+0.051%	$4.9M	$29.5M	30x	as long as short
Popdex HYPEUSDT	+0.0088%	1h	92.201	+0.047%	$67K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0091%	8h	92.221	+0.068%	$338K	$163K	20x	as long as short
ApeX Omni HYPEUSDT	+0.0094%	1h	92.216	+0.063%	$337K	$1.0M	50x	as long as short
Lighter HYPE	+0.0096%	1h	92.194	+0.039%	$16.0M	$62.3M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.193	+0.038%	$3.1M	$11.6M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	92.148	−0.011%	$390K	$164K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.160	+0.002%	$13K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.159	+0.002%	$5.8M	$43.2M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.217	+0.064%	$2.01B	$663.7M	10x	as long as short
Pacifica HYPEshort	+0.0100%	1h	92.220	+0.067%	$10.0M	$15.0M	20x
Bulk HYPE-USD	+0.0100%	1h	92.800	+0.697%	$202K	$13K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.197	+0.042%	$45.7M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.198	+0.043%	$223.6M	$98.2M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.164	+0.007%	$7.2M	$10.2M	20x	as long as short
Variational Omni HYPElong	+0.0100%	8h	92.158	long leg	$28.3M	$57.3M	—
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.327	+0.183%	$7.5M	$45.9M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.215	+0.062%	$662K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.248	+0.098%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.214	+0.061%	$474K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.235	+0.084%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.176	+0.020%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.348	+0.206%	$1.4M	$6.2M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.172	+0.015%	$18.1M	$43.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	92.170	+0.013%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.220	+0.067%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0259%	8h	92.252	+0.102%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0261%	1h	92.191	+0.036%	$78K	$140K	15x	as long as short
Bluefin HYPE-PERP	+0.0297%	1h	92.147	−0.012%	$78K	$168K	20x	as long as short
BloFin HYPE-USDT	+0.0299%	4h	92.165	+0.008%	$16.7M	$11.5M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0329% / S −0.0153%	1h	92.198	+0.043%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0334%	1h	92.236	+0.084%	$20.5M	$30.4M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0563%	1h	92.285	+0.138%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.270	+0.121%	$3.1M	$6.4M	20x	as long as short