Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0113%/8h= +12.4% APRpaid last 24h +0.053%

Price spread now: Kraken Futures against Gate+0.107%7-day average +0.060% · you sell dearer than you buy

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$400.397% of the position

Long on Gate Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.191%+$19 on $10k

Price spread, last 4 days (all we have)−0.091%−$9 · spread now +0.107%, 7d avg +0.060%

Together, before fees+0.101%+$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Kraken Futures is 0.047% dearer against Gate than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.060%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate HYPE_USDT	92.820	0.0084	pay 0.0042% / 4h	3h 26m	$45.0M	$54.3M	75x
Short	Kraken Futures PF_HYPEUSD	92.919	0.0197	get 0.0025% / 1h	26m 44s	$20.6M	$30.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.107%Rate

Funding earned: $23.71
Price spread: +0.107% → +0.060%: $4.71
Slippage, 4 orders: −$14.71
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$11.29
Costs to cover: 0.397%
Break-even: 10.3 days

Slippage from Gate: live order book, 2 min ago; Kraken Futures: 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 Gate live order book, 2 min ago	0.54 bp	11.4 bp −$11	16.1 bp −$161	36.2 bp −$3,616	62.1 bp −$31.0K
Sell Kraken Futures live order book, 2 min ago	1.08 bp	10.0 bp −$10	12.0 bp −$120	18.4 bp −$1,838	55.6 bp −$27.8K

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	−0.1568%	1h	92.719	−0.108%	$193K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0304%	1h	92.848	+0.030%	$22K	$21K	10x	as long as short
Arcus HYPE-USD	−0.0194%	1h	92.781	−0.042%	$1.1M	$3.9M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.869	+0.053%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0061%	4h	92.844	+0.026%	$145K	$681K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.906	+0.093%	$127K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.860	+0.043%	$22K	$295K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.880	+0.065%	$62K	—	150x	as long as short
Bullet HYPE-USD	+0.0009%	1h	92.830	+0.011%	$112K	$577K	20x	as long as short
Ondo Perps HYPE-USD.P	+0.0019%	1h	92.730	−0.097%	$698K	$1.1M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix HYPE	+0.0026%	1h	92.917	+0.105%	$210K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0032%	8h	92.830	+0.011%	$315.6M	$282.7M	75x	as long as short
01 Exchange HYPEUSD	+0.0040%	1h	92.873	+0.057%	$86K	$363K	20x	as long as short
Phemex HYPEUSDT	+0.0048%	8h	92.894	+0.080%	$12.5M	$2.7M	50x	as long as short
Bitget HYPEUSDT	+0.0052%	4h	92.827	+0.008%	$224.8M	$99.1M	75x	as long as short
Popdex HYPEUSDT	+0.0064%	1h	92.855	+0.038%	$70K	$1.1M	50x	as long as short
Gate HYPE_USDTlong	+0.0084%	4h	92.820	long leg	$45.0M	$54.3M	75x
edgeX HYPEUSDC	+0.0089%	4h	92.855	+0.038%	$4.9M	$29.6M	30x	as long as short
Lighter HYPE	+0.0096%	1h	92.844	+0.026%	$16.0M	$62.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.846	+0.028%	$3.1M	$11.6M	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.860	+0.043%	$34K	$1.7M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0100%	8h	92.850	+0.032%	$339K	$163K	20x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.850	+0.033%	$7.4M	$46.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.879	+0.064%	$2.02B	$666.7M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	92.829	+0.010%	$8.7M	$36.1M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	92.854	+0.037%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.819	−0.001%	$373.2M	$905.6M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	92.826	+0.006%	$113.8M	$303.9M	50x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.827	+0.008%	$91.4M	$81.0M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.832	+0.013%	$46.1M	$18.4M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	92.832	+0.013%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.864	+0.047%	$7.2M	$11.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.959	+0.149%	$28.6M	$57.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.886	+0.071%	$7.5M	$46.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.975	+0.167%	$341K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.843	+0.025%	$668K	$2.9M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.911	+0.098%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.898	+0.084%	$471K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.849	+0.031%	$79K	$167K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.843	+0.024%	$16.0M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.917	+0.105%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.855	+0.038%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.999	+0.193%	$1.4M	$6.3M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.770	−0.054%	$202K	$13K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.788	−0.034%	$18.0M	$43.6M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.843	+0.025%	$393K	$164K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	92.910	+0.097%	$4.7M	$5.6M	50x	as long as short
Kalshi KXHYPEPERP	+0.0161%	8h	92.931	+0.120%	$1.8M	$5.4M	2.3x	as long as short
Kraken Futures PF_HYPEUSDshort	+0.0197%	1h	92.919	+0.107%	$20.6M	$30.5M	50x
Injective HYPE/USDC PERP	+0.0242%	1h	92.790	−0.032%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0265%	1h	92.857	+0.039%	$79K	$131K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0321%	1h	92.944	+0.134%	$7.5M	$4.5M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.876	+0.061%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.846	+0.028%	$16.8M	$11.6M	75x	as long as short
RISEx HYPE/USDC	+0.0598%	1h	92.880	+0.065%	$3.1M	$6.4M	20x	as long as short