Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0435%/8h= −47.7% APRpaid last 24h −0.116%

Price spread now: Arcus against BloFin+0.057%7-day average −0.041% · 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−$11as in the Price arb table

costs, in and out, $10k−$210.207% of the position

Long on BloFin Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.308%−$31 on $10k

Price spread, last 3 days (all we have)−0.022%−$2 · spread now +0.057%, 7d avg −0.041%

Together, before fees−0.329%−$33 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Arcus is 0.098% dearer against BloFin than usual: you sell high and buy low (spread +0.057% now, against its 7-day average of −0.041%): +$10 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 18 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin HYPE-USDT	93.528	0.0203	pay 0.0101% / 4h	22m 19s	$17.1M	$12.6M	75x
Short	Arcus HYPE-USD	93.581	−0.0233	pay 0.0029% / 1h	22m 19s	$1.2M	$3.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against BloFin. 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 BloFinbpFee ArcusbpOrdersPrice spread, now +0.057%Rate

Funding earned: −$91.42
Price spread: +0.057% → −0.041%: $9.8
Slippage, 4 orders: −$4.22
Fee BloFin: 6 bp × 2 orders: −$12
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$102.34
Costs to cover: 0.207%
Break-even: never at this rate

Slippage from BloFin: live order book, 7 min ago; Arcus: live order book, 2 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 BloFin live order book, 7 min ago	0.11 bp	6.7 bp −$7	7.6 bp −$76	12.6 bp −$1,264	doesn't fit
Sell Arcus live order book, 2 min ago	0.54 bp	3.3 bp −$3	4.2 bp −$42	21.8 bp −$2,179	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	−0.0960%	1h	93.526	−0.002%	$198K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0387%	1h	93.637	+0.116%	$22K	$22K	10x	as long as short
Arcus HYPE-USDshort	−0.0233%	1h	93.581	+0.057%	$1.2M	$3.8M	10x
Ondo Perps HYPE-USD.P	−0.0082%	1h	93.450	−0.083%	$703K	$910K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.557	+0.031%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0056%	1h	93.708	+0.192%	$86K	$366K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0001%	4h	93.709	+0.194%	$168K	$586K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.662	+0.143%	$127K	$30K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.712	+0.197%	$23K	$329K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.737	+0.223%	$26K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0006%	4h	93.699	+0.183%	$8.9M	$36.0M	300x	as long as short
Phoenix HYPE	+0.0009%	1h	93.618	+0.096%	$214K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0017%	8h	93.700	+0.184%	$322.1M	$283.7M	75x	as long as short
Derive HYPE-PERP	+0.0020%	1h	93.662	+0.143%	$16.4M	$7.1M	10x	as long as short
Binance HYPEUSDT	+0.0049%	4h	93.716	+0.201%	$383.0M	$896.4M	75x	as long as short
MEXC HYPE_USDT	+0.0050%	4h	93.633	+0.112%	$87.8M	$81.9M	100x	as long as short
edgeX HYPEUSDC	+0.0062%	4h	93.464	−0.069%	$5.1M	$29.7M	30x	as long as short
Phemex HYPEUSDT	+0.0070%	8h	93.562	+0.036%	$12.7M	$2.6M	50x	as long as short
Gate HYPE_USDT	+0.0076%	4h	93.698	+0.182%	$44.0M	$59.7M	75x	as long as short
Popdex HYPEUSDT	+0.0080%	1h	93.735	+0.221%	$59K	$1.2M	50x	as long as short
Bullet HYPE-USD	+0.0093%	1h	93.707	+0.191%	$113K	$576K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.662	+0.143%	$18.8M	$60.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.598	+0.075%	$3.0M	$12.3M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.730	+0.216%	$399K	$318K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0099%	8h	93.690	+0.173%	$115.5M	$321.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.674	+0.156%	$340K	$171K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.650	+0.130%	$16K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.665	+0.146%	$5.7M	$44.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.657	+0.138%	$10.1M	$14.5M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.625	+0.104%	$204K	$7K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.711	+0.196%	$46.4M	$18.6M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.714	+0.199%	$227.0M	$102.5M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.696	+0.180%	—	$54.1M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.574	+0.049%	$7.8M	$10.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.574	+0.049%	$31.2M	$54.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.619	+0.097%	$7.6M	$45.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.485	−0.046%	$358K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.514	−0.015%	$676K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.699	+0.183%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.732	+0.218%	$491K	$2.4M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.699	+0.183%	$76K	$171K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.570	+0.045%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.548	+0.021%	$2.0M	$2.0M	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.410	+0.943%	$31K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.657	+0.138%	$18.4M	$42.8M	50x	as long as short
Kalshi KXHYPEPERP	+0.0134%	8h	93.585	+0.061%	$1.9M	$5.0M	2.3x	as long as short
Hyperliquid HYPE	+0.0150%	1h	93.759	+0.247%	$2.04B	$677.3M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	93.610	+0.088%	$4.9M	$5.7M	50x	as long as short
BloFin HYPE-USDTlong	+0.0203%	4h	93.528	long leg	$17.1M	$12.6M	75x
HTX HYPE-USDT	+0.0206%	4h	93.745	+0.232%	$1.5M	$7.8M	75x	as long as short
Reya HYPERUSDPERP	+0.0249%	1h	93.690	+0.173%	$77K	$142K	15x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	93.741	+0.228%	$2.8M	$6.9M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0337% / S −0.0163%	1h	93.733	+0.220%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0550%	1h	93.822	+0.314%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0580%	1h	93.633	+0.112%	$20.9M	$29.5M	50x	as long as short