Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0152%/8h= +16.6% APRpaid last 24h +0.023%

Price spread now: Gate against Hotstuff+0.005%7-day average — · you sell dearer than you buy

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

Long on Hotstuff Short on Gate

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—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff HYPE-PERP	94.094	−0.0080	get 0.0010% / 1h	51m 14s	$3K	$331	25x
Short	Gate HYPE_USDT	94.099	0.0072	get 0.0036% / 4h	51m 14s	$44.5M	$58.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Hotstuff. 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 HotstuffbpFee GatebpOrdersPrice spread, now +0.005%Rate

Funding earned: $31.92
Price spread: +0.005% → 0.000%: $0.53
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $12.45
Costs to cover: 0.200%
Break-even: 4.3 days

Slippage unknown: Hotstuff: no order-book sample; Gate: live order book, 3 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 Hotstuff no order-book sample	—	—	—	—	—
Sell Gate live order book, 3 min ago	0.37 bp	11.4 bp −$11	20.0 bp −$200	33.0 bp −$3,305	55.2 bp −$27.6K

Hotstuff: 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	−0.0600%	1h	93.939	−0.165%	$199K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0466%	1h	93.904	−0.202%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	93.998	−0.102%	$1.2M	$3.8M	10x	as long as short
Hotstuff HYPE-PERPlong	−0.0080%	1h	94.094	long leg	$3K	$331	25x
dYdX HYPE-USD	0.0000%	1h	94.092	−0.002%	$128K	$30K	5x	as long as short
Perpl HYPE	0.0000%	43m	94.109	+0.016%	$23K	$329K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	94.127	+0.035%	$27K	—	150x	as long as short
Phoenix HYPE	+0.0009%	1h	94.035	−0.063%	$215K	$1.2M	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0014%	4h	94.110	+0.017%	$176K	$526K	20x	as long as short
Bybit HYPEUSDT	+0.0021%	8h	94.073	−0.022%	$324.6M	$281.2M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0035%	4h	94.113	+0.020%	$8.9M	$35.8M	300x	as long as short
Ondo Perps HYPE-USD.P	+0.0036%	1h	94.020	−0.079%	$704K	$908K	10x	as long as short
Phemex HYPEUSDT	+0.0067%	8h	94.047	−0.050%	$12.8M	$2.6M	50x	as long as short
Gate HYPE_USDTshort	+0.0072%	4h	94.099	+0.005%	$44.5M	$58.0M	75x
edgeX HYPEUSDC	+0.0073%	4h	93.924	−0.180%	$5.1M	$29.7M	30x	as long as short
MEXC HYPE_USDT	+0.0074%	4h	94.109	+0.016%	$89.6M	$80.9M	100x	as long as short
Binance HYPEUSDT	+0.0076%	4h	94.103	+0.010%	$386.6M	$888.4M	75x	as long as short
Derive HYPE-PERP	+0.0082%	1h	94.052	−0.044%	$16.5M	$6.9M	10x	as long as short
01 Exchange HYPEUSD	+0.0088%	1h	94.123	+0.031%	$86K	$364K	20x	as long as short
Lighter HYPE	+0.0096%	1h	94.148	+0.058%	$19.1M	$59.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.127	+0.035%	$3.1M	$12.2M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.111	+0.018%	$64K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	94.113	+0.020%	$400K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	94.106	+0.013%	$342K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.100	+0.006%	$29K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.088	−0.006%	$5.9M	$44.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.111	+0.018%	$10.2M	$14.5M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	94.069	−0.027%	$116.0M	$317.6M	50x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.125	+0.033%	$47.3M	$18.4M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	94.119	+0.027%	$228.1M	$102.7M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.099	+0.005%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.087	−0.007%	$7.9M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.882	−0.225%	$32.1M	$53.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.938	−0.166%	$7.6M	$45.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.072	−0.023%	$335K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.068	−0.028%	$680K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.141	+0.050%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.139	+0.048%	$485K	$2.5M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	94.103	+0.010%	$113K	$578K	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	94.093	−0.001%	$76K	$166K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.094	0.000%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.104	+0.011%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.680	−0.440%	$205K	$7K	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.050	−0.047%	$31K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.085	−0.009%	$18.7M	$42.1M	50x	as long as short
Kalshi KXHYPEPERP	+0.0124%	8h	94.141	+0.050%	$1.9M	$5.0M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	94.110	+0.017%	$4.9M	$5.7M	50x	as long as short
HTX HYPE-USDT	+0.0228%	4h	94.275	+0.192%	$1.5M	$7.7M	75x	as long as short
Reya HYPERUSDPERP	+0.0248%	1h	94.103	+0.009%	$77K	$142K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0260%	1h	94.196	+0.108%	$7.4M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	94.143	+0.052%	$2.8M	$6.8M	20x	as long as short
BloFin HYPE-USDT	+0.0303%	4h	94.097	+0.003%	$17.0M	$12.4M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0340% / S −0.0165%	1h	94.092	−0.002%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0576%	1h	94.205	+0.118%	$21.1M	$29.1M	50x	as long as short
Hyperliquid HYPE	+0.0753%	1h	94.194	+0.106%	$2.05B	$666.3M	10x	as long as short