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Price arb /

HYPE

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Spread before costs (cost unknown: a leg has no order-book sample)+0.218%
7d average−0.156%if it closes, per $10,000$22funding while held, a day+$1.63
Long on InjectiveShort on Kraken Futures
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongInjective HYPE/USDC PERP92.7400.0356pay 0.0044% / 1h50m 53s$23K$256K12x
ShortKraken Futures PF_HYPEUSD92.9420.0410get 0.0051% / 1h50m 53s$16.3M$20.8M50x

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
$21.83
Funding while held
$1.63
Slippage, 4 orders
no order book: not counted
Fee Injective: 0.01 bp × 2 orders
−$0.02
Fee Kraken Futures: 5 bp × 2 orders
−$10
Net
$13.44
Spread needed to break even
0.100%
Slippage unknown: Injective: live order book, 60 min ago; Kraken Futures: live order book, 5 min ago. Net counts fees only.

Cost of waiting

funding view
Funding /8h
+0.0054%
Per $10,000 a day
+$1.63
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Injective live order book, 60 min ago12.20 bpdoesn't fitdoesn't fitdoesn't fitdoesn't fit
Sell Kraken Futures live order book, 5 min ago2.10 bp9.9 bp −$1014.8 bp −$14825.0 bp −$2,49871.8 bp −$35.9K

HYPE price on every exchange

against the cheapest. Click to use as the short leg.
Injective92.740cheapest
Ondo Perps92.760+0.022%Arcus92.768+0.030%Derive92.778+0.041%Katana Perps92.800+0.065%Nado92.811+0.077%Pacifica92.812+0.078%Perpl92.840+0.107%Hotstuff92.843+0.111%Popdex92.848+0.116%Vest92.855+0.124%dYdX92.863+0.133%GMX92.870+0.141%StandX92.873+0.143%Paradex92.873+0.143%Aster92.879+0.149%RISEx92.882+0.153%Gate92.883+0.154%Polymarket Perps92.885+0.156%gTrade (Gains Network)92.887+0.158%Orderly92.887+0.159%Bluefin92.888+0.160%01 Exchange92.893+0.165%KuCoin92.895+0.167%Reya92.897+0.169%Bullet92.900+0.172%BloFin92.907+0.180%BingX92.909+0.182%ApeX Omni92.910+0.183%Kalshi92.912+0.185%edgeX92.914+0.188%Aevo92.918+0.191%Phemex92.926+0.201%Bybit92.930+0.205%Hyperliquid92.932+0.207%Bitget92.932+0.207%MEXC92.942+0.218%Backpack92.942+0.218%
Kraken Futures92.942+0.218%
Extended92.943+0.219%OKX92.945+0.221%Coinbase International92.950+0.226%SunX92.955+0.232%Binance92.961+0.238%Lighter92.967+0.244%Deribit92.970+0.248%Hibachi92.977+0.255%Lighter RH92.978+0.257%SoDEX93.002+0.283%Aftermath Perps93.037+0.320%Phoenix93.046+0.330%HTX93.100+0.388%Variational Omni93.175+0.469%Bulk93.230+0.528%

HYPE on 54 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Injective HYPE/USDC PERPlong0.000%+0.0356%1h$23K$256K12x
Ondo Perps HYPE-USD.P+0.022%+0.0100%1h$697K$971K10xas long as short
Arcus HYPE-USD+0.030%+0.0100%1h$1.2M$4.2M10xas long as short
Derive HYPE-PERP+0.041%+0.0100%1h$16.4M$7.2M10xas long as short
Katana Perps HYPE-USD+0.065%+0.0100%8h$29K$1.8M10xas long as short
Nado HYPE-PERP+0.077%+0.0100%1h$5.5M$42.8M10xas long as short
Pacifica HYPE+0.078%+0.0100%1h$11.3M$12.2M20xas long as short
Perpl HYPE+0.107%+0.0223%43m$31K$346K10xas long as short
Hotstuff HYPE-PERP+0.111%−0.0080%1h$3K$30725xas long as short
Popdex HYPEUSDT+0.116%+0.0096%1h$155K$1.1M50xas long as short
Show all 54 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Vest HYPE-PERP+0.124%+0.0100%1h—$407K5xas long as short
dYdX HYPE-USD+0.133%+0.0004%1h$126K$26K5xas long as short
GMX HYPE/USD [WBTC.b-USDC]+0.141%L +0.0350% / S −0.0168%1h$1.5M—100xas long as short
StandX HYPE-USD+0.143%+0.0100%1h$665K$2.1M20xas long as short
Paradex HYPE-USD-PERP+0.143%+0.0130%8h$336K$288K20xas long as short
Aster HYPEUSDT+0.149%+0.0100%4h$8.8M$35.8M300xas long as short
RISEx HYPE/USDC+0.153%+0.0620%1h$2.5M$7.3M20xas long as short
Gate HYPE_USDT+0.154%+0.0100%4h$44.3M$53.2M75xas long as short
Polymarket Perps HYPE-USD+0.156%+0.0100%1h$450K$2.4M20xas long as short
gTrade (Gains Network) HYPE/USD+0.158%L +0.0002% / S −0.0001%1h$18K—150xas long as short
Orderly PERP_HYPE_USDC+0.159%−0.0058%4h$168K$376K20xas long as short
Bluefin HYPE-PERP+0.160%+0.0100%1h$73K$193K20xas long as short
01 Exchange HYPEUSD+0.165%+0.0112%1h$90K$321K20xas long as short
KuCoin HYPEUSDTM+0.167%+0.0100%4h$43.8M$19.6M75xas long as short
Reya HYPERUSDPERP+0.169%+0.0227%1h$73K$166K15xas long as short
Bullet HYPE-USD+0.172%+0.0100%1h$112K$577K20xas long as short
BloFin HYPE-USDT+0.180%+0.0340%4h$17.6M$12.5M75xas long as short
BingX HYPE-USDT+0.182%+0.0032%4h—$52.4M—as long as short
ApeX Omni HYPEUSDT+0.183%+0.0100%1h$427K$961K50xas long as short
Kalshi KXHYPEPERP+0.185%+0.0115%8h$1.7M$4.8M2.3xas long as short
edgeX HYPEUSDC+0.188%+0.0106%4h$5.1M$28.3M30xas long as short
Aevo HYPE-PERP+0.191%+0.0104%1h$395K$340K20xas long as short
Phemex HYPEUSDT+0.201%+0.0100%8h$12.6M$2.4M50xas long as short
Bybit HYPEUSDT+0.205%+0.0100%8h$325.6M$286.0M75xas long as short
Hyperliquid HYPE+0.207%+0.0100%1h$2.00B$613.7M10xas long as short
Bitget HYPEUSDT+0.207%+0.0100%4h$227.7M$100.7M75xas long as short
MEXC HYPE_USDT+0.218%+0.0100%4h$96.4M$84.5M100xas long as short
Backpack HYPE_USDC_PERP+0.218%+0.0100%1h$8.4M$9.4M20xas long as short
Kraken Futures PF_HYPEUSDshort+0.218%+0.0410%1h$16.3M$20.8M50x
Extended HYPE-USD+0.219%+0.0104%1h$18.2M$42.0M50xas long as short
OKX HYPE-USDT-SWAP+0.221%+0.0046%8h$115.0M$313.8M50xas long as short
Coinbase International HYPE-PERP-INTX+0.226%+0.0152%1h$5.0M$5.4M50xas long as short
SunX HYPE-USDT+0.232%+0.0100%4h$32K$1.6M20xas long as short
Binance HYPEUSDT+0.238%+0.0100%4h$392.9M$840.3M75xas long as short
Lighter HYPE+0.244%+0.0312%1h$18.4M$56.2M20xas long as short
Deribit HYPE_USDC-PERPETUAL+0.248%+0.0482%1h$7.4M$4.7M50xas long as short
Hibachi HYPE/USDT-P+0.255%+0.0680%1h$204K$197K7xas long as short
Lighter RH HYPE+0.257%+0.0096%1h$3.2M$11.8M20xas long as short
SoDEX HYPE-USD+0.283%+0.0100%1h$2.0M$1.9M10xas long as short
Aftermath Perps HYPEUSD+0.320%+0.0296%1h$22K$36K10xas long as short
Phoenix HYPE+0.330%+0.0386%1h$294K$1.0M10xas long as short
HTX HYPE-USDT+0.388%+0.0744%4h$1.5M$6.9M75xas long as short
Variational Omni HYPE+0.469%+0.0100%8h$29.7M$50.7M—as long as short
Bulk HYPE-USD+0.528%+0.0100%1h$211K$10K10xas long as short