Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0101%/8h= +11.1% APRpaid last 24h +0.036%

Price spread now: Paradex against Gate+0.038%7-day average +0.033% · 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−$24as in the Price arb table

costs, in and out, $10k−$250.247% of the position

Long on Gate Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.049%+$5 on $10k

Price spread, last 4 days (all we have)−0.118%−$12 · spread now +0.038%, 7d avg +0.033%

Together, before fees−0.068%+ Points / potential airdropParadex: Active · farm board−$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.033%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate HYPE_USDT	94.062	−0.0002	get 0.0001% / 4h	3h 31m	$44.5M	$59.7M	75x
Short	Paradex HYPE-USD-PERP	94.098	0.0099	get 0.0099% / 8h	7h 31m	$342K	$170K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.038%Rate

Funding earned: $21.29
Price spread: +0.038% → +0.033%: $0.52
Slippage, 4 orders: −$5.75
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$2.93
Costs to cover: 0.247%
Break-even: 8.0 days

Slippage from Gate: live order book, 2 min ago; Paradex: live order book, 42 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	0.42 bp	8.0 bp −$8	14.9 bp −$149	29.9 bp −$2,989	56.3 bp −$28.1K
Sell Paradex live order book, 42 min ago	1.23 bp	3.2 bp −$3	6.8 bp −$68	doesn't fit	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	−0.1448%	1h	94.283	+0.235%	$200K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0625%	1h	93.926	−0.145%	$1.2M	$3.8M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0241%	1h	94.179	+0.125%	$22K	$23K	10x	as long as short
dYdX HYPE-USD	−0.0164%	1h	94.128	+0.070%	$129K	$31K	5x	as long as short
Ondo Perps HYPE-USD.P	−0.0159%	1h	93.970	−0.098%	$710K	$947K	10x	as long as short
Bullet HYPE-USD	−0.0094%	1h	94.051	−0.012%	$112K	$580K	20x	as long as short
Phemex HYPEUSDT	−0.0089%	8h	94.102	+0.043%	$12.8M	$2.6M	50x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	94.029	−0.035%	$85K	$361K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.077	+0.016%	$3K	$331	25x	as long as short
Bybit HYPEUSDT	−0.0020%	8h	94.090	+0.030%	$323.2M	$280.8M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_HYPE_USDC	−0.0015%	4h	94.053	−0.010%	$160K	$652K	20x	as long as short
Gate HYPE_USDTlong	−0.0002%	4h	94.062	long leg	$44.5M	$59.7M	75x
Perpl HYPE	0.0000%	43m	94.050	−0.013%	$23K	$327K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	94.092	+0.032%	$27K	—	150x	as long as short
Aster HYPEUSDT	+0.0025%	4h	94.080	+0.019%	$8.9M	$36.1M	300x	as long as short
Phoenix HYPE	+0.0034%	1h	94.342	+0.298%	$219K	$1.2M	10x	as long as short
MEXC HYPE_USDT	+0.0050%	4h	94.108	+0.049%	$89.4M	$82.5M	100x	as long as short
Binance HYPEUSDT	+0.0051%	4h	94.114	+0.055%	$383.9M	$893.6M	75x	as long as short
Derive HYPE-PERP	+0.0056%	1h	94.034	−0.030%	$16.4M	$7.3M	10x	as long as short
edgeX HYPEUSDC	+0.0061%	4h	94.240	+0.189%	$5.1M	$29.9M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0081%	8h	94.102	+0.043%	$116.0M	$319.0M	50x	as long as short
Lighter HYPE	+0.0096%	1h	94.124	+0.066%	$19.0M	$59.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.100	+0.040%	$3.0M	$12.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.018	−0.047%	$66K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	94.068	+0.007%	$400K	$188K	20x	as long as short
Paradex HYPE-USD-PERPshort	+0.0099%	8h	94.098	+0.038%	$342K	$170K	20x
Katana Perps HYPE-USD	+0.0100%	8h	94.040	−0.023%	$26K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.993	−0.074%	$6.6M	$44.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.182	+0.128%	$2.05B	$677.1M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.075	+0.014%	$10.2M	$14.6M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.116	+0.057%	$46.6M	$18.1M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	94.112	+0.053%	$228.2M	$100.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.071	+0.010%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.088	+0.028%	$7.7M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.220	+0.168%	$31.8M	$54.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.271	+0.222%	$7.6M	$45.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.252	+0.202%	$341K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.205	+0.152%	$682K	$2.5M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.094	+0.034%	$480K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	94.069	+0.007%	$76K	$171K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.150	+0.094%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.071	+0.010%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.120	+0.062%	$205K	$4K	10x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.102	+0.043%	—	$248K	5x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.082	+0.021%	$18.8M	$44.5M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	94.070	+0.009%	$4.9M	$5.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.490	+0.455%	$31K	$338K	12x	as long as short
BloFin HYPE-USDT	+0.0206%	4h	94.147	+0.090%	$17.0M	$12.2M	75x	as long as short
Kalshi KXHYPEPERP	+0.0217%	8h	94.109	+0.050%	$1.9M	$5.1M	2.3x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	94.044	−0.019%	$2.8M	$6.7M	20x	as long as short
Reya HYPERUSDPERP	+0.0251%	1h	94.064	+0.002%	$79K	$146K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0333% / S −0.0152%	1h	94.098	+0.039%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0398%	1h	94.165	+0.110%	$7.5M	$4.7M	50x	as long as short
HTX HYPE-USDT	+0.0435%	4h	94.230	+0.179%	$1.5M	$6.3M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0671%	1h	94.165	+0.110%	$21.0M	$29.7M	50x	as long as short