Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.007%

Price spread now: KuCoin against Bitget−0.021%7-day average +0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$370.372% of the position

Long on Bitget Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.068%+$7 on $10k

Price spread, last 7 days+0.022%+$2 · spread now −0.021%, 7d avg +0.013%

Together, before fees+0.089%+$9 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: KuCoin is 0.034% cheaper against Bitget than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget HYPEUSDT	93.787	0.0100	pay 0.0050% / 4h	20m 45s	$227.2M	$102.2M	75x
Short	KuCoin HYPEUSDTM	93.767	0.0100	get 0.0050% / 4h	20m 45s	$46.4M	$18.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Bitget. 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 BitgetbpFee KuCoinbpOrdersPrice spread, now −0.021%Rate

Funding earned: $0
Price spread: −0.021% → +0.013%: −$3.39
Slippage, 4 orders: −$13.22
Fee Bitget: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$40.61
Costs to cover: 0.372%
Break-even: never at this rate

Slippage from Bitget: live order book, 3 min ago; KuCoin: 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 Bitget live order book, 3 min ago	0.05 bp	7.7 bp −$8	12.1 bp −$121	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	0.16 bp	8.2 bp −$8	11.6 bp −$116	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	−0.0992%	1h	93.602	−0.198%	$198K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0396%	1h	93.644	−0.153%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	93.559	−0.243%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0089%	1h	93.680	−0.114%	$704K	$912K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.557	−0.245%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0064%	1h	93.671	−0.124%	$86K	$367K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0001%	4h	93.700	−0.093%	$168K	$586K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.737	−0.053%	$128K	$30K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.700	−0.093%	$23K	$329K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.727	−0.064%	$26K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix HYPE	+0.0009%	1h	93.610	−0.189%	$214K	$1.2M	10x	as long as short
Aster HYPEUSDT	+0.0011%	4h	93.766	−0.023%	$8.9M	$36.0M	300x	as long as short
Bybit HYPEUSDT	+0.0017%	8h	93.762	−0.027%	$322.3M	$283.8M	75x	as long as short
Derive HYPE-PERP	+0.0030%	1h	93.653	−0.143%	$16.4M	$7.1M	10x	as long as short
MEXC HYPE_USDT	+0.0048%	4h	93.762	−0.027%	$88.7M	$82.0M	100x	as long as short
Binance HYPEUSDT	+0.0053%	4h	93.775	−0.013%	$382.9M	$896.7M	75x	as long as short
Phemex HYPEUSDT	+0.0067%	8h	93.708	−0.084%	$12.8M	$2.6M	50x	as long as short
edgeX HYPEUSDC	+0.0070%	4h	93.483	−0.324%	$5.1M	$29.7M	30x	as long as short
Gate HYPE_USDT	+0.0074%	4h	93.749	−0.041%	$44.0M	$59.7M	75x	as long as short
Popdex HYPEUSDT	+0.0080%	1h	93.688	−0.106%	$59K	$1.2M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.824	+0.039%	$18.9M	$60.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.794	+0.007%	$3.0M	$12.3M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.710	−0.082%	$399K	$318K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0098%	8h	93.766	−0.022%	$115.6M	$321.6M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.683	−0.111%	$340K	$171K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.680	−0.114%	$15K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.645	−0.151%	$5.7M	$44.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.708	−0.084%	$10.1M	$14.5M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.625	−0.173%	$204K	$7K	10x	as long as short
KuCoin HYPEUSDTMshort	+0.0100%	4h	93.767	−0.021%	$46.4M	$18.6M	75x
Bitget HYPEUSDTlong	+0.0100%	4h	93.787	long leg	$227.2M	$102.2M	75x
BingX HYPE-USDT	+0.0100%	4h	93.750	−0.039%	—	$54.1M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.762	−0.027%	$7.9M	$10.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.672	−0.122%	$31.1M	$54.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.549	−0.254%	$7.5M	$45.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.489	−0.318%	$358K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.514	−0.291%	$676K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.717	−0.074%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.706	−0.086%	$491K	$2.4M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	93.698	−0.095%	$113K	$576K	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.698	−0.095%	$76K	$171K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.748	−0.042%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.698	−0.095%	$2.0M	$2.0M	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.410	+0.664%	$31K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.740	−0.050%	$18.4M	$42.8M	50x	as long as short
Hyperliquid HYPE	+0.0129%	1h	93.808	+0.022%	$2.04B	$677.5M	10x	as long as short
Kalshi KXHYPEPERP	+0.0138%	8h	93.775	−0.013%	$1.9M	$5.0M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	93.790	+0.003%	$4.9M	$5.7M	50x	as long as short
BloFin HYPE-USDT	+0.0197%	4h	93.704	−0.088%	$17.0M	$12.5M	75x	as long as short
HTX HYPE-USDT	+0.0204%	4h	93.848	+0.065%	$1.5M	$7.8M	75x	as long as short
Reya HYPERUSDPERP	+0.0249%	1h	93.694	−0.100%	$77K	$142K	15x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	93.716	−0.076%	$2.8M	$6.9M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0163%	1h	93.725	−0.066%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0433%	1h	93.798	+0.012%	$7.5M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0579%	1h	93.795	+0.009%	$20.9M	$29.5M	50x	as long as short