Settings8H · net · $10k
FundingCostsSizeExchangesMy alerts
Funding arb · Price arb /

HYPE

all HYPE markets
SwapBacktest
Alert: funding
Measured
My alerts

Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
My alerts

Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 07:00 UTC+0.0407%/8h= +44.6% APRpaid last 24h +0.058%
Price spread now: Kraken Futures against Bybit+0.123%7-day average +0.063% · you sell dearer than you buy
Net, funding: paid 7d − costs−$15as in the Funding arb table
Net, price: spread back to 7d avg − costs−$27as in the Price arb table
costs, in and out, $10k−$330.333% of the position
Long on BybitShort on Kraken Futures
What this pair did over the last
the charts below follow
Funding, last 7 days+0.185%+$19 on $10k
Price spread, last 4 days (all we have)−0.100%−$10 · spread now +0.123%, 7d avg +0.063%
Together, before fees+0.085%+$8 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Kraken Futures is 0.060% dearer against Bybit than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.063%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.185% in total (about 9.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit HYPEUSDT93.5330.0008pay 0.0008% / 8h1h 45m$315.9M$288.0M75x
ShortKraken Futures PF_HYPEUSD93.6480.0415get 0.0052% / 1h45m 45s$20.9M$29.6M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bybit. 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

Funding earned
$85.54
Price spread: +0.123% → +0.063%
$5.96
Slippage, 4 orders
−$12.35
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee Kraken Futures: 5 bp × 2 orders
−$10
Net
$58.15
Costs to cover
0.333%
Break-even
2.2 days
Slippage from Bybit: live order book, 3 min ago; Kraken Futures: live order book, 3 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Bybit live order book, 3 min ago0.53 bp7.0 bp −$77.1 bp −$7115.4 bp −$1,54451.1 bp −$25.5K
Sell Kraken Futures live order book, 3 min ago1.76 bp9.0 bp −$99.7 bp −$9719.5 bp −$1,94551.5 bp −$25.7K

HYPE on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-P−0.1096%1h93.581+0.051%$198K$242K7xas long as short
Aftermath Perps HYPEUSD−0.0234%1h93.764+0.247%$22K$21K10xas long as short
Ondo Perps HYPE-USD.P−0.0125%1h93.570+0.040%$705K$1.2M10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.621+0.094%$3K$33125xas long as short
Bullet HYPE-USD−0.0071%1h93.591+0.062%$111K$580K20xas long as short
01 Exchange HYPEUSD−0.0064%1h93.625+0.098%$86K$370K20xas long as short
Bluefin HYPE-PERP−0.0035%1h93.576+0.046%$79K$156K20xas long as short
Orderly PERP_HYPE_USDC−0.0020%4h93.559+0.028%$145K$685K20xas long as short
dYdX HYPE-USD0.0000%1h93.698+0.176%$128K$29K5xas long as short
Perpl HYPE0.0000%43m93.652+0.127%$21K$287K10xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0002%1h93.634+0.108%$63K—150xas long as short
BingX HYPE-USDT+0.0006%4h93.566+0.035%—$53.7M—as long as short
Bybit HYPEUSDTlong+0.0008%8h93.533long leg$315.9M$288.0M75x
Phoenix HYPE+0.0017%1h93.687+0.165%$209K$1.1M10xas long as short
Bitget HYPEUSDT+0.0040%4h93.547+0.015%$225.3M$99.5M75xas long as short
Phemex HYPEUSDT+0.0074%8h93.592+0.063%$12.8M$2.8M50xas long as short
edgeX HYPEUSDC+0.0082%4h93.648+0.123%$5.0M$30.6M30xas long as short
Paradex HYPE-USD-PERP+0.0082%8h93.656+0.132%$335K$161K20xas long as short
Arcus HYPE-USD+0.0084%1h93.600+0.072%$1.0M$4.0M10xas long as short
Derive HYPE-PERP+0.0092%1h93.549+0.018%$16.3M$7.4M10xas long as short
Lighter HYPE+0.0096%1h93.542+0.009%$16.1M$63.6M20xas long as short
Lighter RH HYPE+0.0096%1h93.597+0.068%$3.1M$11.1M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.607+0.079%$78K$1.2M50xas long as short
Katana Perps HYPE-USD+0.0100%8h93.630+0.104%$22K$1.7M10xas long as short
Nado HYPE-PERP+0.0100%1h93.617+0.089%$7.4M$50.9M10xas long as short
Hyperliquid HYPE+0.0100%1h93.650+0.125%$2.05B$682.9M10xas long as short
Aster HYPEUSDT+0.0100%4h93.570+0.040%$8.8M$37.3M300xas long as short
Pacifica HYPE+0.0100%1h93.667+0.143%$10.1M$15.4M20xas long as short
Binance HYPEUSDT+0.0100%4h93.554+0.022%$374.9M$930.7M75xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.529−0.004%$115.6M$315.9M50xas long as short
Gate HYPE_USDT+0.0100%4h93.566+0.035%$48.4M$55.0M75xas long as short
MEXC HYPE_USDT+0.0100%4h93.572+0.042%$90.0M$83.6M100xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.564+0.033%$46.2M$18.8M75xas long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.592+0.063%$7.2M$10.7M20xas long as short
Variational Omni HYPE+0.0100%8h93.670+0.146%$28.6M$56.1M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.726+0.206%$7.6M$48.1M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.674+0.151%$347K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.649+0.124%$678K$2.8M20xas long as short
Vest HYPE-PERP+0.0100%1h93.677+0.154%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.633+0.107%$470K$2.8M20xas long as short
SunX HYPE-USDT+0.0100%4h93.702+0.181%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.563+0.032%$2.0M$1.9M10xas long as short
HTX HYPE-USDT+0.0100%4h93.783+0.267%$1.4M$6.7M75xas long as short
Bulk HYPE-USD+0.0100%1h93.731+0.212%$216K$15K10xas long as short
Kalshi KXHYPEPERP+0.0102%8h93.619+0.092%$1.8M$5.6M2.3xas long as short
Extended HYPE-USD+0.0104%1h93.550+0.019%$18.2M$43.3M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.581+0.052%$396K$159K20xas long as short
Coinbase International HYPE-PERP-INTX+0.0120%1h93.610+0.082%$4.7M$6.1M50xas long as short
Injective HYPE/USDC PERP+0.0205%1h93.640+0.114%$30K$339K12xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0252%1h93.679+0.156%$7.4M$4.2M50xas long as short
Reya HYPERUSDPERP+0.0271%1h93.569+0.039%$77K$130K15xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0333% / S −0.0154%1h93.625+0.099%$1.4M—100xas long as short
BloFin HYPE-USDT+0.0340%4h93.653+0.128%$17.0M$12.2M75xas long as short
Kraken Futures PF_HYPEUSDshort+0.0415%1h93.648+0.123%$20.9M$29.6M50x
RISEx HYPE/USDC+0.0559%1h93.647+0.122%$3.2M$6.4M20xas long as short