Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0146%/8h= −16.0% APRpaid last 24h +0.010%

Price spread now: Coinbase International against KuCoin+0.023%7-day average −0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$390.390% of the position

Long on KuCoin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.099%−$10 on $10k

Price spread, last 4 days (all we have)−0.057%−$6 · spread now +0.023%, 7d avg −0.014%

Together, before fees−0.156%−$16 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.038% dearer against KuCoin than usual: you sell high and buy low (spread +0.023% now, against its 7-day average of −0.014%): +$4 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 21 hours. At the pace of the last 7 days (−0.099% in total) that is about 2.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin HYPEUSDTM	94.768	0.0082	pay 0.0041% / 4h	46m 04s	$47.3M	$17.8M	75x
Short	Coinbase International HYPE-PERP-INTX	94.790	−0.0064	pay 0.0008% / 1h	46m 04s	$4.7M	$5.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against KuCoin. 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 KuCoinbpFee Coinbase InternationalbpOrdersPrice spread, now +0.023%Rate

Funding earned: −$30.66
Price spread: +0.023% → −0.014%: $3.76
Slippage, 4 orders: −$17.04
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$65.94
Costs to cover: 0.390%
Break-even: never at this rate

Slippage from KuCoin: live order book, 6 min ago; Coinbase International: live order book, 1 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 KuCoin live order book, 6 min ago	0.26 bp	9.6 bp −$10	13.9 bp −$139	doesn't fit	doesn't fit
Sell Coinbase International live order book, 1 min ago	2.64 bp	8.8 bp −$9	13.8 bp −$138	34.7 bp −$3,466	doesn't fit

HYPE on 55 exchanges

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
Kraken Futures PF_HYPEUSD	−0.0282%	1h	94.812	+0.047%	$18.2M	$32.3M	50x	as long as short
ApeX Omni HYPEUSDT	−0.0262%	1h	94.636	−0.139%	$322K	$924K	50x	as long as short
Phemex HYPEUSDT	−0.0243%	8h	94.762	−0.006%	$12.9M	$2.2M	50x	as long as short
Bluefin HYPE-PERP	−0.0231%	1h	94.750	−0.019%	$79K	$131K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0200%	1h	94.870	+0.108%	$676K	$1.3M	10x	as long as short
Lighter HYPE	−0.0104%	1h	94.776	+0.009%	$16.5M	$55.4M	20x	as long as short
Aster HYPEUSDT	−0.0100%	4h	94.794	+0.027%	$9.0M	$34.6M	300x	as long as short
01 Exchange HYPEUSD	−0.0096%	1h	94.858	+0.095%	$102K	$352K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.894	+0.133%	$3K	$421	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0077%	4h	94.747	−0.022%	$147K	$643K	20x	as long as short

Show all 55 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate HYPE_USDT	−0.0074%	4h	94.788	+0.021%	$55.9M	$52.7M	75x	as long as short
Coinbase International HYPE-PERP-INTXshort	−0.0064%	1h	94.790	+0.023%	$4.7M	$5.4M	50x
OKX HYPE-USDT-SWAP	−0.0045%	8h	94.816	+0.051%	$118.8M	$304.5M	50x	as long as short
Aftermath Perps HYPEUSD	−0.0033%	1h	94.912	+0.152%	$22K	$17K	10x	as long as short
Bitget HYPEUSDT	−0.0030%	4h	94.824	+0.059%	$229.7M	$86.0M	75x	as long as short
Phoenix HYPE	−0.0017%	1h	94.778	+0.011%	$199K	$1.1M	10x	as long as short
Derive HYPE-PERP	−0.0011%	1h	94.713	−0.058%	$16.3M	$7.0M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.846	+0.082%	$128K	$96K	5x	as long as short
Perpl HYPE	0.0000%	43m	94.846	+0.082%	$24K	$249K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	94.809	+0.043%	$99K	—	150x	as long as short
Bullet HYPE-USD	+0.0007%	1h	94.805	+0.039%	$113K	$585K	20x	as long as short
Lighter RH HYPE	+0.0024%	1h	94.793	+0.026%	$3.2M	$9.9M	20x	as long as short
edgeX HYPEUSDC	+0.0027%	4h	94.624	−0.152%	$5.0M	$28.1M	30x	as long as short
MEXC HYPE_USDT	+0.0028%	4h	94.810	+0.044%	$88.4M	$82.8M	100x	as long as short
Bybit HYPEUSDT	+0.0029%	8h	94.840	+0.076%	$320.3M	$263.1M	75x	as long as short
Binance HYPEUSDT	+0.0029%	4h	94.832	+0.068%	$381.9M	$851.8M	75x	as long as short
BingX HYPE-USDT	+0.0034%	4h	94.777	+0.009%	—	$50.3M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0037%	1h	94.784	+0.017%	$6.8M	$12.3M	20x	as long as short
Popdex HYPEUSDT	+0.0056%	1h	94.843	+0.079%	$273K	$1.0M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0056%	1h	94.857	+0.094%	$7.5M	$4.2M	50x	as long as short
SoDEX HYPE-USD	+0.0063%	1h	94.793	+0.026%	$2.1M	$335K	10x	as long as short
KuCoin HYPEUSDTMlong	+0.0082%	4h	94.768	long leg	$47.3M	$17.8M	75x
Aevo HYPE-PERP	+0.0088%	1h	94.772	+0.004%	$401K	$125K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0092%	8h	94.846	+0.082%	$338K	$31K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	94.810	+0.044%	$39K	$1.5M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.845	+0.081%	$7.2M	$50.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.929	+0.170%	$2.10B	$643.6M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.877	+0.115%	$10.2M	$12.8M	20x	as long as short
Arcus HYPE-USD	+0.0100%	1h	94.854	+0.091%	$1.0M	$2.8M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	95.036	+0.283%	$228K	$20K	10x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.740	−0.030%	$30.0M	$52.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.605	−0.172%	$7.7M	$41.1M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.936	+0.177%	$690K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.905	+0.145%	—	$80K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.849	+0.085%	$491K	$2.4M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.904	+0.144%	$33K	$1.4M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.898	+0.137%	$1.4M	$5.3M	75x	as long as short
BloFin HYPE-USDT	+0.0104%	4h	94.920	+0.160%	$17.5M	$11.6M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.742	−0.027%	$18.1M	$37.6M	50x	as long as short
Kalshi KXHYPEPERP	+0.0119%	8h	94.855	+0.092%	$1.8M	$5.1M	2.3x	as long as short
RISEx HYPE/USDC	+0.0138%	1h	94.876	+0.114%	$3.1M	$5.2M	20x	as long as short
Reya HYPERUSDPERP	+0.0268%	1h	94.796	+0.030%	$84K	$90K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0155%	1h	94.828	+0.063%	$1.4M	—	100x	as long as short
Hibachi HYPE/USDT-P	+0.1032%	1h	95.107	+0.358%	$218K	$288K	7x	as long as short
Injective HYPE/USDC PERP	+0.1234%	1h	95.420	+0.688%	$31K	$334K	12x	as long as short