Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0089%/8h= +9.8% APRpaid last 24h +0.076%

Price spread now: Gate against Arcus+0.041%7-day average +0.006% · 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−$28as in the Price arb table

costs, in and out, $10k−$310.315% of the position

Long on Arcus Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.086%+$9 on $10k

Price spread, last 7 days0.000%$0 · spread now +0.041%, 7d avg +0.006%

Together, before fees+0.086%+$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Gate is 0.035% dearer against Arcus than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus HYPE-USD	94.055	0.0011	pay 0.0001% / 1h	15m 35s	$1.0M	$3.9M	10x
Short	Gate HYPE_USDT	94.094	0.0100	get 0.0050% / 4h	2h 15m	$48.0M	$55.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Arcus. 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 ArcusbpFee GatebpOrdersPrice spread, now +0.041%Rate

Funding earned: $18.77
Price spread: +0.041% → +0.006%: $3.52
Slippage, 4 orders: −$11.99
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$9.21
Costs to cover: 0.315%
Break-even: 10.4 days

Slippage from Arcus: live order book, 3 min ago; Gate: 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 Arcus live order book, 3 min ago	0.53 bp	3.1 bp −$3	4.8 bp −$48	18.3 bp −$1,828	doesn't fit
Sell Gate live order book, 3 min ago	0.16 bp	11.8 bp −$12	19.7 bp −$197	36.8 bp −$3,678	57.8 bp −$28.9K

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	−0.1344%	1h	94.079	+0.025%	$199K	$239K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0409%	1h	93.796	−0.275%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.117	+0.066%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0026%	1h	94.146	+0.097%	$112K	$580K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0018%	4h	94.107	+0.055%	$147K	$678K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.106	+0.054%	$129K	$29K	5x	as long as short
01 Exchange HYPEUSD	0.0000%	1h	94.126	+0.075%	$86K	$372K	20x	as long as short
Perpl HYPE	0.0000%	43m	94.160	+0.112%	$23K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	94.160	+0.112%	$63K	—	150x	as long as short
Arcus HYPE-USDlong	+0.0011%	1h	94.055	long leg	$1.0M	$3.9M	10x

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget HYPEUSDT	+0.0018%	4h	94.079	+0.026%	$226.9M	$99.3M	75x	as long as short
Bybit HYPEUSDT	+0.0022%	8h	94.100	+0.048%	$319.2M	$284.0M	75x	as long as short
Phemex HYPEUSDT	+0.0024%	8h	94.153	+0.104%	$12.8M	$2.8M	50x	as long as short
Phoenix HYPE	+0.0026%	1h	94.174	+0.127%	$209K	$1.2M	10x	as long as short
Ondo Perps HYPE-USD.P	+0.0068%	1h	94.080	+0.027%	$709K	$1.2M	10x	as long as short
edgeX HYPEUSDC	+0.0094%	4h	94.117	+0.066%	$5.0M	$30.2M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	94.142	+0.093%	$342K	$158K	20x	as long as short
Lighter HYPE	+0.0096%	1h	94.127	+0.077%	$16.3M	$63.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.128	+0.078%	$3.1M	$11.5M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.108	+0.056%	$71K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.050	−0.005%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.119	+0.069%	$7.3M	$48.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.196	+0.150%	$2.06B	$675.2M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.105	+0.053%	$8.8M	$36.5M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.141	+0.091%	$10.1M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.112	+0.061%	$377.8M	$919.5M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	94.100	+0.048%	$116.2M	$315.0M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.358	−0.741%	$216K	$15K	10x	as long as short
Gate HYPE_USDTshort	+0.0100%	4h	94.094	+0.041%	$48.0M	$55.2M	75x
MEXC HYPE_USDT	+0.0100%	4h	94.125	+0.074%	$90.5M	$81.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.112	+0.061%	$46.5M	$18.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.095	+0.043%	—	$53.6M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.162	+0.114%	$7.2M	$10.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.099	+0.047%	$28.9M	$56.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.979	−0.081%	$7.7M	$48.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.161	+0.113%	$345K	$994K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.161	+0.113%	$674K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.213	+0.168%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.173	+0.125%	$482K	$2.7M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	94.135	+0.085%	$80K	$165K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	94.114	+0.063%	$16.2M	$7.4M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.216	+0.171%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.128	+0.078%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.282	+0.241%	$1.4M	$6.5M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.060	+0.005%	$18.3M	$43.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.137	+0.087%	$398K	$159K	20x	as long as short
Kalshi KXHYPEPERP	+0.0122%	8h	94.194	+0.148%	$1.8M	$5.6M	2.3x	as long as short
Injective HYPE/USDC PERP	+0.0122%	1h	94.310	+0.271%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	94.150	+0.101%	$4.7M	$6.0M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0207%	1h	94.198	+0.152%	$7.5M	$4.1M	50x	as long as short
Reya HYPERUSDPERP	+0.0270%	1h	94.141	+0.092%	$81K	$127K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0333% / S −0.0154%	1h	94.154	+0.105%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0338%	1h	94.206	+0.160%	$21.0M	$29.6M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.137	+0.087%	$16.8M	$12.1M	75x	as long as short
RISEx HYPE/USDC	+0.0527%	1h	94.149	+0.100%	$3.2M	$6.3M	20x	as long as short