Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0084%/8h= −9.2% APRpaid last 24h +0.004%

Price spread now: dYdX against Gate+0.056%7-day average +0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

costs, in and out, $10k−$820.816% of the position

Long on Gate Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.052%−$5 on $10k

Price spread, last 4 days (all we have)−0.170%−$17 · spread now +0.056%, 7d avg +0.017%

Together, before fees−0.222%−$22 on $10k · with fees, hour by hour

The price spread pays, funding is against you. dYdX is 0.039% dearer against Gate than usual: you sell high and buy low (spread +0.056% now, against its 7-day average of +0.017%): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 37 hours. At the pace of the last 7 days (−0.052% in total) that is about 5.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate HYPE_USDT	93.610	0.0084	pay 0.0042% / 4h	27m 10s	$44.5M	$59.1M	75x
Short	dYdX HYPE-USD	93.663	0	get 0.0000% / 1h	27m 10s	$127K	$30K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Gate. 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 GatebpFee dYdXbpOrdersPrice spread, now +0.056%Rate

Funding earned: −$17.64
Price spread: +0.056% → +0.017%: $3.87
Slippage, 4 orders: −$56.56
Fee Gate: 7.5 bp × 2 orders: −$15
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$95.33
Costs to cover: 0.816%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; dYdX: live order book, 52 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 Gate live order book, 2 min ago	0.59 bp	11.6 bp −$12	18.4 bp −$184	29.9 bp −$2,993	50.2 bp −$25.1K
Sell dYdX live order book, 52 min ago	25.09 bp	30.1 bp −$30	72.2 bp −$722	306.1 bp −$30.6K	1561.5 bp −$780.8K

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	−0.0872%	1h	93.521	−0.096%	$198K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0369%	1h	93.718	+0.115%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	93.497	−0.121%	$1.2M	$3.8M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.593	−0.018%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0067%	1h	93.540	−0.075%	$703K	$909K	10x	as long as short
01 Exchange HYPEUSD	−0.0040%	1h	93.573	−0.040%	$86K	$366K	20x	as long as short
Derive HYPE-PERP	−0.0017%	1h	93.529	−0.087%	$16.3M	$7.1M	10x	as long as short
dYdX HYPE-USDshort	0.0000%	1h	93.663	+0.056%	$127K	$30K	5x
Perpl HYPE	0.0000%	43m	93.575	−0.037%	$23K	$329K	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0002%	4h	93.617	+0.007%	$166K	$583K	20x	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 −0.0003%	1h	93.620	+0.011%	$26K	—	150x	as long as short
Phoenix HYPE	+0.0009%	1h	93.687	+0.082%	$214K	$1.2M	10x	as long as short
Aster HYPEUSDT	+0.0015%	4h	93.585	−0.027%	$8.9M	$36.0M	300x	as long as short
Bybit HYPEUSDT	+0.0018%	8h	93.600	−0.011%	$321.6M	$283.3M	75x	as long as short
MEXC HYPE_USDT	+0.0056%	4h	93.612	+0.002%	$87.7M	$81.8M	100x	as long as short
Binance HYPEUSDT	+0.0057%	4h	93.617	+0.007%	$383.0M	$895.5M	75x	as long as short
edgeX HYPEUSDC	+0.0064%	4h	93.635	+0.027%	$5.1M	$29.7M	30x	as long as short
Phemex HYPEUSDT	+0.0072%	8h	93.625	+0.016%	$12.8M	$2.6M	50x	as long as short
Gate HYPE_USDTlong	+0.0084%	4h	93.610	long leg	$44.5M	$59.1M	75x
Bullet HYPE-USD	+0.0090%	1h	93.576	−0.037%	$112K	$577K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.652	+0.045%	$18.8M	$60.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.620	+0.011%	$3.0M	$12.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.589	−0.022%	$64K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.592	−0.019%	$398K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.596	−0.015%	$340K	$171K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.550	−0.064%	$43K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.576	−0.037%	$5.7M	$44.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.613	+0.003%	$10.1M	$14.5M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.609	−0.001%	$115.3M	$320.2M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.625	+0.016%	$204K	$7K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.597	−0.014%	$46.4M	$18.6M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.644	+0.036%	$226.8M	$102.5M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.612	+0.002%	—	$54.1M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.639	+0.031%	$7.8M	$10.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.564	−0.049%	$31.2M	$53.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.632	+0.023%	$7.6M	$45.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.646	+0.038%	$346K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.649	+0.042%	$677K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.639	+0.031%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.604	−0.006%	$490K	$2.4M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.590	−0.021%	$76K	$171K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.615	+0.005%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.587	−0.025%	$2.0M	$2.0M	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.410	+0.855%	$31K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.570	−0.043%	$18.3M	$42.8M	50x	as long as short
Kalshi KXHYPEPERP	+0.0132%	8h	93.661	+0.054%	$1.9M	$5.0M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	93.670	+0.064%	$4.9M	$5.7M	50x	as long as short
HTX HYPE-USDT	+0.0213%	4h	93.771	+0.172%	$1.5M	$7.8M	75x	as long as short
Hyperliquid HYPE	+0.0227%	1h	93.660	+0.053%	$2.03B	$676.4M	10x	as long as short
BloFin HYPE-USDT	+0.0229%	4h	93.600	−0.011%	$17.1M	$12.6M	75x	as long as short
Reya HYPERUSDPERP	+0.0249%	1h	93.595	−0.017%	$77K	$142K	15x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	93.644	+0.037%	$2.8M	$6.9M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0337% / S −0.0163%	1h	93.615	+0.005%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0466%	1h	93.693	+0.089%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0579%	1h	93.674	+0.068%	$20.9M	$29.5M	50x	as long as short