Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.009%

Price spread now: Nado against Gate+0.098%7-day average +0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$290.286% of the position

Long on Gate Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.018%+$2 on $10k

Price spread, last 7 days−0.086%−$9 · spread now +0.098%, 7d avg +0.017%

Together, before fees−0.067%+ Points / potential airdropNado: Active · farm board−$7 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Nado is 0.081% dearer against Gate than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate HYPE_USDT	93.223	0.0100	pay 0.0050% / 4h	2h 34m	$46.6M	$54.2M	75x
Short	Nado HYPE-PERP	93.314	0.0100	get 0.0012% / 1h	34m 24s	$8.0M	$48.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.098%Rate

Funding earned: $0
Price spread: +0.098% → +0.017%: $8.07
Slippage, 4 orders: −$6.62
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$20.56
Costs to cover: 0.286%
Break-even: never at this rate

Slippage from Gate: live order book, 4 min ago; Nado: live order book, 5 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, 4 min ago	0.70 bp	10.2 bp −$10	15.9 bp −$159	31.9 bp −$3,185	54.0 bp −$27.0K
Sell Nado live order book, 5 min ago	0.05 bp	3.6 bp −$4	6.2 bp −$62	28.7 bp −$2,873	doesn't fit

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	−0.1624%	1h	93.409	+0.200%	$197K	$234K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0361%	1h	93.349	+0.135%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.328	+0.113%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0071%	1h	93.212	−0.012%	$111K	$578K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0023%	4h	93.228	+0.005%	$146K	$662K	20x	as long as short
01 Exchange HYPEUSD	−0.0016%	1h	93.305	+0.088%	$87K	$366K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.367	+0.154%	$128K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.318	+0.102%	$22K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.239	+0.017%	$62K	—	150x	as long as short
Arcus HYPE-USD	+0.0011%	1h	93.274	+0.055%	$1.0M	$4.0M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps HYPE-USD.P	+0.0013%	1h	93.430	+0.222%	$702K	$1.2M	10x	as long as short
Bitget HYPEUSDT	+0.0016%	4h	93.197	−0.028%	$225.3M	$98.9M	75x	as long as short
Bybit HYPEUSDT	+0.0021%	8h	93.190	−0.035%	$316.6M	$283.2M	75x	as long as short
Phoenix HYPE	+0.0026%	1h	93.434	+0.226%	$209K	$1.2M	10x	as long as short
Phemex HYPEUSDT	+0.0033%	8h	93.518	+0.316%	$12.6M	$2.7M	50x	as long as short
edgeX HYPEUSDC	+0.0094%	4h	93.304	+0.087%	$5.0M	$30.0M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0094%	8h	93.356	+0.143%	$340K	$162K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.333	+0.118%	$16.1M	$63.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.343	+0.129%	$3.1M	$11.4M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.285	+0.067%	$76K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.260	+0.040%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERPshort	+0.0100%	1h	93.314	+0.098%	$8.0M	$48.5M	10x
Hyperliquid HYPE	+0.0100%	1h	93.318	+0.102%	$2.03B	$668.6M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.299	+0.081%	$8.7M	$36.5M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.339	+0.124%	$10.1M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.228	+0.005%	$373.5M	$913.5M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.205	−0.019%	$114.3M	$309.2M	50x	as long as short
Gate HYPE_USDTlong	+0.0100%	4h	93.223	long leg	$46.6M	$54.2M	75x
MEXC HYPE_USDT	+0.0100%	4h	93.254	+0.033%	$89.8M	$80.9M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.306	+0.089%	$46.1M	$18.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.202	−0.023%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.529	+0.328%	$7.3M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.351	+0.137%	$28.6M	$56.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.365	+0.153%	$7.5M	$47.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.331	+0.116%	$342K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.497	+0.294%	$669K	$2.9M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.365	+0.152%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.277	+0.058%	$483K	$2.7M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.207	−0.017%	$79K	$165K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.196	−0.029%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.475	+0.270%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.523	+0.322%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.600	+0.404%	$1.4M	$6.5M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.344	+0.130%	$215K	$15K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.274	+0.054%	$18.1M	$43.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.212	−0.012%	$394K	$158K	20x	as long as short
Kalshi KXHYPEPERP	+0.0112%	8h	93.541	+0.341%	$1.8M	$5.7M	2.3x	as long as short
Injective HYPE/USDC PERP	+0.0122%	1h	93.350	+0.136%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.500	+0.297%	$4.8M	$5.6M	50x	as long as short
Reya HYPERUSDPERP	+0.0269%	1h	93.231	+0.008%	$80K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0154%	1h	93.241	+0.019%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.516	+0.314%	$16.9M	$11.9M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0340%	1h	93.596	+0.400%	$20.9M	$29.6M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0426%	1h	93.304	+0.087%	$7.5M	$4.0M	50x	as long as short
RISEx HYPE/USDC	+0.0527%	1h	93.364	+0.151%	$3.2M	$6.2M	20x	as long as short