Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0230%/8h= +25.2% APRpaid last 24h +0.069%

Price spread now: HTX against gTrade (Gains Network)+0.225%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on gTrade (Gains Network)Short on HTX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and HTX is 0.225% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$23 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) HYPE/USD	93.190	L +0.0002% / S −0.0003%	pay 0.0000% / 1h	37m 59s	$25K	—	150x
Short	HTX HYPE-USDT	93.400	0.0232	get 0.0116% / 4h	2h 37m	$1.4M	$6.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee HTXbpOrdersPrice spread, now +0.225%Rate

Funding earned: $48.28
Price spread: +0.225% → 0.000%: $22.53
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: $48.82
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: gTrade (Gains Network): no order-book sample; HTX: live order book, 1 min ago. Net counts fees only.

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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell HTX live order book, 1 min ago	0.32 bp	10.7 bp −$11	13.2 bp −$132	52.4 bp −$5,243	doesn't fit

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0944%	1h	93.219	+0.031%	$196K	$229K	7x	as long as short
Arcus HYPE-USD	−0.0786%	1h	93.081	−0.117%	$1.2M	$3.9M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0165%	1h	93.241	+0.054%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0147%	1h	93.140	−0.054%	$696K	$983K	10x	as long as short
Gate HYPE_USDT	−0.0092%	4h	93.194	+0.004%	$44.2M	$54.3M	75x	as long as short
Backpack HYPE_USDC_PERP	−0.0086%	1h	93.066	−0.133%	$7.8M	$10.4M	20x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	93.184	−0.006%	$85K	$357K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.216	+0.028%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0056%	4h	93.118	−0.077%	$155K	$652K	20x	as long as short
Phemex HYPEUSDT	−0.0046%	8h	93.143	−0.050%	$12.6M	$2.7M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	−0.0034%	4h	93.150	−0.043%	$8.8M	$36.3M	300x	as long as short
Bluefin HYPE-PERP	−0.0027%	1h	93.106	−0.090%	$79K	$173K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.245	+0.058%	$128K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.217	+0.029%	$22K	$333K	10x	as long as short
gTrade (Gains Network) HYPE/USDlong	L +0.0002% / S −0.0003%	1h	93.190	long leg	$25K	—	150x
Bybit HYPEUSDT	+0.0003%	8h	93.202	+0.013%	$320.5M	$285.9M	75x	as long as short
BingX HYPE-USDT	+0.0004%	4h	93.189	−0.001%	—	$54.2M	—	as long as short
Bullet HYPE-USD	+0.0026%	1h	93.159	−0.033%	$111K	$579K	20x	as long as short
Binance HYPEUSDT	+0.0039%	4h	93.222	+0.034%	$379.2M	$907.0M	75x	as long as short
MEXC HYPE_USDT	+0.0040%	4h	93.189	−0.001%	$87.5M	$82.6M	100x	as long as short
edgeX HYPEUSDC	+0.0056%	4h	93.325	+0.145%	$5.1M	$29.8M	30x	as long as short
Phoenix HYPE	+0.0060%	1h	93.233	+0.046%	$212K	$1.2M	10x	as long as short
OKX HYPE-USDT-SWAP	+0.0066%	8h	93.233	+0.046%	$114.7M	$315.2M	50x	as long as short
Derive HYPE-PERP	+0.0067%	1h	93.097	−0.100%	$16.2M	$7.7M	10x	as long as short
Aevo HYPE-PERP	+0.0088%	1h	93.118	−0.077%	$396K	$177K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	93.291	+0.108%	$339K	$165K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.126	−0.069%	$16.3M	$62.3M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.113	−0.083%	$3.1M	$11.9M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.169	−0.023%	$65K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.210	+0.021%	$21K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.159	−0.033%	$5.6M	$45.3M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.207	+0.018%	$2.03B	$668.6M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.238	+0.051%	$10.0M	$14.8M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.404	+0.229%	$203K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.190	0.000%	$45.9M	$18.4M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.207	+0.018%	$225.5M	$100.8M	75x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.151	−0.042%	$30.9M	$55.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.195	+0.005%	$7.5M	$48.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.355	+0.177%	$337K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.050	−0.150%	$664K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.261	+0.076%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.250	+0.064%	$467K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.282	+0.099%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.103	−0.093%	$2.0M	$2.0M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.166	−0.026%	$18.3M	$44.5M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0136%	1h	93.200	+0.011%	$4.9M	$5.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0137%	1h	93.050	−0.150%	$30K	$338K	12x	as long as short
BloFin HYPE-USDT	+0.0175%	4h	93.407	+0.233%	$17.0M	$12.1M	75x	as long as short
RISEx HYPE/USDC	+0.0210%	1h	93.230	+0.043%	$2.7M	$6.7M	20x	as long as short
HTX HYPE-USDTshort	+0.0232%	4h	93.400	+0.225%	$1.4M	$6.1M	75x
Reya HYPERUSDPERP	+0.0254%	1h	93.217	+0.029%	$79K	$142K	15x	as long as short
Kalshi KXHYPEPERP	+0.0262%	8h	93.291	+0.108%	$1.9M	$5.2M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0334% / S −0.0158%	1h	93.193	+0.004%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0555%	1h	93.215	+0.027%	$7.4M	$4.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0684%	1h	93.186	−0.005%	$20.8M	$30.2M	50x	as long as short