Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0400%/8h= −43.8% APRpaid last 24h −0.035%

Price spread now: Pacifica against HTX−0.269%7-day average −0.016% · you buy dearer than you sell

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

Long on HTX Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.138%−$14 on $10k

Price spread, last 3 days (all we have)+0.601%+$60 · spread now −0.269%, 7d avg −0.016%

Together, before fees+0.463%+ Points / potential airdropPacifica: Active · farm board+$46 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Pacifica is 0.253% cheaper against HTX than usual: you would sell low and buy high (−$25 if the spread goes back to its 7-day average of −0.016%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.138% in total (about -7.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX HYPE-USDT	93.803	0.0500	pay 0.0250% / 4h	3h 23m	$1.5M	$7.6M	75x
Short	Pacifica HYPE	93.551	0.0100	get 0.0013% / 1h	23m 34s	$10.0M	$14.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against HTX. 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 HTXbpFee PacificabpOrdersPrice spread, now −0.269%Rate

Funding earned: −$83.96
Price spread: −0.269% → −0.016%: −$25.34
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$129.3
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: HTX: live order book, 5 min ago; Pacifica: live order book, 1 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 HTX live order book, 5 min ago	2.35 bp	9.8 bp −$10	11.2 bp −$112	44.3 bp −$4,432	doesn't fit
Sell Pacifica live order book, 1 min ago	0.05 bp	4.3 bp −$4	doesn't fit	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	−0.1392%	1h	93.465	−0.360%	$198K	$239K	7x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.558	−0.261%	$3K	$331	25x	as long as short
Gate HYPE_USDT	−0.0024%	4h	93.530	−0.291%	$44.1M	$56.4M	75x	as long as short
Aftermath Perps HYPEUSD	−0.0020%	1h	93.634	−0.180%	$22K	$22K	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.608	−0.208%	$127K	$33K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.703	−0.107%	$1.9M	$5.3M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.596	−0.220%	$23K	$348K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0005%	1h	93.594	−0.223%	$44K	—	150x	as long as short
01 Exchange HYPEUSD	+0.0016%	1h	93.532	−0.289%	$89K	$341K	20x	as long as short
Aster HYPEUSDT	+0.0022%	4h	93.554	−0.265%	$9.0M	$36.8M	300x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit HYPEUSDT	+0.0055%	8h	93.523	−0.298%	$326.3M	$287.9M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0066%	1h	93.661	−0.151%	$18.6M	$24.2M	50x	as long as short
Ondo Perps HYPE-USD.P	+0.0073%	1h	93.500	−0.323%	$703K	$952K	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0087%	4h	93.529	−0.292%	$177K	$521K	20x	as long as short
Phoenix HYPE	+0.0094%	1h	93.834	+0.033%	$217K	$1.1M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.563	−0.256%	$18.7M	$58.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.582	−0.236%	$3.1M	$12.4M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.527	−0.294%	$56K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.560	−0.259%	$21K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.540	−0.280%	$5.8M	$44.3M	10x	as long as short
Pacifica HYPEshort	+0.0100%	1h	93.551	−0.269%	$10.0M	$14.4M	20x
Binance HYPEUSDT	+0.0100%	4h	93.551	−0.269%	$388.5M	$885.7M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.530	−0.291%	$114.8M	$317.2M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.510	−0.312%	$1.2M	$4.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.684	−0.126%	$205K	$9K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.564	−0.255%	$90.9M	$82.6M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.576	−0.242%	$46.3M	$19.7M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.545	−0.275%	$227.5M	$103.2M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.512	−0.310%	—	$54.4M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.571	−0.247%	$8.0M	$11.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.766	−0.039%	$28.9M	$49.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.541	−0.279%	$7.5M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.591	−0.226%	$382K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.641	−0.173%	$677K	$2.3M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.594	−0.223%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.570	−0.248%	$491K	$2.6M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	93.520	−0.302%	$111K	$576K	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.552	−0.268%	$76K	$169K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.527	−0.294%	$16.4M	$7.0M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.572	−0.246%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.531	−0.290%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.587	−0.230%	$12.7M	$2.6M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0101%	8h	93.543	−0.277%	$340K	$172K	20x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.496	−0.327%	$18.2M	$40.6M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.548	−0.272%	$398K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0109%	4h	93.629	−0.186%	$5.1M	$29.2M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.700	−0.110%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0243%	1h	93.538	−0.282%	$77K	$157K	15x	as long as short
Injective HYPE/USDC PERP	+0.0254%	1h	94.110	+0.327%	$31K	$182K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0284%	1h	93.647	−0.166%	$7.4M	$4.6M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0165%	1h	93.580	−0.238%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.502	−0.321%	$17.1M	$12.4M	75x	as long as short
Hyperliquid HYPE	+0.0376%	1h	93.665	−0.147%	$2.04B	$665.8M	10x	as long as short
RISEx HYPE/USDC	+0.0422%	1h	93.601	−0.215%	$2.9M	$6.7M	20x	as long as short
HTX HYPE-USDTlong	+0.0500%	4h	93.803	long leg	$1.5M	$7.6M	75x