Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.023%

Price spread now: Gate against Extended+0.026%7-day average +0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$260.261% of the position

Long on Extended Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.103%−$10 on $10k

Price spread, last 7 days−0.031%−$3 · spread now +0.026%, 7d avg +0.015%

Together, before fees−0.135%+ Points / potential airdropExtended: Active · farm board−$13 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended HYPE-USD	93.431	0.0104	pay 0.0013% / 1h	33m 02s	$18.2M	$43.2M	50x
Short	Gate HYPE_USDT	93.455	0.0100	get 0.0050% / 4h	1h 33m	$48.5M	$55.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Extended. 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 ExtendedbpFee GatebpOrdersPrice spread, now +0.026%Rate

Funding earned: −$0.84
Price spread: +0.026% → +0.015%: $1.02
Slippage, 4 orders: −$6.11
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$25.93
Costs to cover: 0.261%
Break-even: never at this rate

Slippage from Extended: live order book, 1 min ago; Gate: live order book, 1 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 Extended live order book, 1 min ago	0.05 bp	2.6 bp −$3	6.8 bp −$68	26.4 bp −$2,644	doesn't fit
Sell Gate live order book, 1 min ago	0.05 bp	9.4 bp −$9	15.3 bp −$153	33.3 bp −$3,330	55.9 bp −$28.0K

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	−0.1024%	1h	93.380	−0.055%	$198K	$240K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0186%	1h	93.496	+0.070%	$22K	$21K	10x	as long as short
Bullet HYPE-USD	−0.0089%	1h	93.435	+0.005%	$111K	$579K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0081%	1h	93.330	−0.108%	$703K	$1.2M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.362	−0.074%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0048%	1h	93.549	+0.126%	$86K	$369K	20x	as long as short
Bluefin HYPE-PERP	−0.0028%	1h	93.432	+0.001%	$79K	$156K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0021%	4h	93.433	+0.002%	$145K	$685K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.436	+0.005%	$128K	$28K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.478	+0.050%	$20K	$290K	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.480	+0.052%	$83K	—	150x	as long as short
BingX HYPE-USDT	+0.0002%	4h	93.466	+0.037%	—	$53.5M	—	as long as short
Bybit HYPEUSDT	+0.0002%	8h	93.424	−0.008%	$315.2M	$287.9M	75x	as long as short
Derive HYPE-PERP	+0.0007%	1h	93.302	−0.138%	$16.2M	$7.5M	10x	as long as short
Phoenix HYPE	+0.0017%	1h	93.482	+0.055%	$209K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0042%	4h	93.472	+0.044%	$225.2M	$99.8M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0076%	8h	93.517	+0.092%	$334K	$161K	20x	as long as short
edgeX HYPEUSDC	+0.0080%	4h	93.460	+0.031%	$5.0M	$30.6M	30x	as long as short
Arcus HYPE-USD	+0.0084%	1h	93.474	+0.046%	$1.0M	$4.0M	10x	as long as short
Phemex HYPEUSDT	+0.0088%	8h	93.478	+0.050%	$12.8M	$2.8M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.464	+0.036%	$16.1M	$64.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.483	+0.056%	$3.1M	$11.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.513	+0.088%	$79K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.500	+0.074%	$21K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.418	−0.015%	$7.5M	$50.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.529	+0.105%	$2.04B	$681.6M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.458	+0.029%	$8.8M	$37.1M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.485	+0.058%	$10.1M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.462	+0.033%	$374.0M	$929.7M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.440	+0.010%	$115.3M	$314.9M	50x	as long as short
Gate HYPE_USDTshort	+0.0100%	4h	93.455	+0.026%	$48.5M	$55.3M	75x
MEXC HYPE_USDT	+0.0100%	4h	93.477	+0.049%	$90.5M	$84.1M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.441	+0.011%	$46.3M	$18.7M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.469	+0.041%	$7.2M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.339	−0.099%	$28.7M	$56.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.507	+0.081%	$7.5M	$48.3M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.469	+0.041%	$350K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.415	−0.017%	$677K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.526	+0.102%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.508	+0.082%	$469K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.584	+0.164%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.435	+0.004%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.600	+0.181%	$1.4M	$6.7M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.507	+0.081%	$216K	$15K	10x	as long as short
Kalshi KXHYPEPERP	+0.0103%	8h	93.620	+0.202%	$1.8M	$5.6M	2.3x	as long as short
Extended HYPE-USDlong	+0.0104%	1h	93.431	long leg	$18.2M	$43.2M	50x
Aevo HYPE-PERP	+0.0104%	1h	93.453	+0.023%	$395K	$159K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	93.490	+0.063%	$4.7M	$6.1M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0152% / S +0.0022%	1h	93.385	−0.050%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.410	+1.048%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0271%	1h	93.461	+0.032%	$77K	$129K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0306%	1h	93.532	+0.108%	$7.4M	$4.2M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.435	+0.004%	$16.9M	$12.2M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0416%	1h	93.524	+0.100%	$20.9M	$29.6M	50x	as long as short
RISEx HYPE/USDC	+0.0559%	1h	93.547	+0.125%	$3.2M	$6.4M	20x	as long as short