Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0180%/8h= −19.7% APRpaid last 24h −0.046%

Price spread now: Hotstuff against KuCoin−0.022%7-day average — · you buy dearer than you sell

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

Long on KuCoin Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 4 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

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Hotstuff is 0.022% cheaper against KuCoin than usual: you would sell low and buy high (−$2 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin HYPEUSDTM	94.445	0.0100	pay 0.0050% / 4h	15m 11s	$46.9M	$18.9M	75x
Short	Hotstuff HYPE-PERP	94.424	−0.0080	pay 0.0010% / 1h	15m 11s	$3K	$331	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now −0.022%Rate

Funding earned: −$37.8
Price spread: −0.022% → 0.000%: −$2.22
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$57.02
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 4 min ago; Hotstuff: no order-book sample. 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 KuCoin live order book, 4 min ago	0.05 bp	9.8 bp −$10	14.9 bp −$149	doesn't fit	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

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	−0.1704%	1h	94.362	−0.088%	$202K	$255K	7x	as long as short
Bluefin HYPE-PERP	−0.0394%	1h	94.381	−0.068%	$80K	$152K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0214%	1h	94.390	−0.058%	$712K	$1.2M	10x	as long as short
Bullet HYPE-USD	−0.0185%	1h	94.428	−0.018%	$111K	$576K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0154%	1h	94.355	−0.095%	$22K	$20K	10x	as long as short
01 Exchange HYPEUSD	−0.0112%	1h	94.444	−0.001%	$88K	$366K	20x	as long as short
Hotstuff HYPE-PERPshort	−0.0080%	1h	94.424	−0.022%	$3K	$331	25x
Derive HYPE-PERP	−0.0061%	1h	94.393	−0.056%	$16.4M	$7.5M	10x	as long as short
Arcus HYPE-USD	−0.0045%	1h	94.413	−0.034%	$1.0M	$3.6M	10x	as long as short
Lighter HYPE	−0.0032%	1h	94.427	−0.019%	$16.4M	$64.6M	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit HYPEUSDT	−0.0019%	8h	94.430	−0.016%	$317.4M	$288.9M	75x	as long as short
BingX HYPE-USDT	−0.0018%	4h	94.408	−0.039%	—	$52.8M	—	as long as short
Orderly PERP_HYPE_USDC	−0.0008%	4h	94.398	−0.050%	$147K	$686K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.464	+0.020%	$130K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.507	+0.066%	$1.9M	$5.6M	2.3x	as long as short
Phoenix HYPE	0.0000%	1h	94.517	+0.076%	$209K	$1.1M	10x	as long as short
Perpl HYPE	0.0000%	43m	94.416	−0.031%	$19K	$287K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.439	−0.006%	$124K	—	150x	as long as short
Polymarket Perps HYPE-USD	+0.0011%	1h	94.448	+0.003%	$498K	$2.8M	20x	as long as short
Bitget HYPEUSDT	+0.0026%	4h	94.419	−0.028%	$226.8M	$100.1M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0035%	8h	94.452	+0.008%	$337K	$154K	20x	as long as short
Phemex HYPEUSDT	+0.0037%	8h	94.457	+0.013%	$12.9M	$2.9M	50x	as long as short
Vest HYPE-PERP	+0.0041%	1h	94.483	+0.041%	—	$190K	5x	as long as short
SoDEX HYPE-USD	+0.0052%	1h	94.426	−0.020%	$2.1M	$1.9M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0064%	1h	94.470	+0.026%	$4.7M	$6.2M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0066%	8h	94.449	+0.004%	$117.7M	$325.6M	50x	as long as short
edgeX HYPEUSDC	+0.0083%	4h	94.437	−0.009%	$5.0M	$30.8M	30x	as long as short
Gate HYPE_USDT	+0.0094%	4h	94.406	−0.041%	$50.3M	$56.8M	75x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.433	−0.013%	$3.2M	$10.8M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.419	−0.028%	$79K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.430	−0.016%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.430	−0.016%	$7.2M	$52.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.502	+0.061%	$2.08B	$688.1M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.447	+0.002%	$8.8M	$37.1M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.456	+0.012%	$10.2M	$15.0M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.445	0.000%	$378.7M	$933.5M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.307	−0.146%	$218K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.440	−0.005%	$89.6M	$84.1M	100x	as long as short
KuCoin HYPEUSDTMlong	+0.0100%	4h	94.445	long leg	$46.9M	$18.9M	75x
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.366	−0.084%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.390	−0.058%	$29.6M	$54.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.361	−0.089%	$7.6M	$45.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.316	−0.137%	$370K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.457	+0.013%	$683K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.477	+0.034%	$32K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.536	+0.096%	$1.4M	$6.8M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.392	−0.056%	$18.3M	$43.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.399	−0.048%	$399K	$154K	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0150% / S +0.0022%	1h	94.452	+0.008%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0163%	1h	94.520	+0.079%	$7.5M	$4.3M	50x	as long as short
Injective HYPE/USDC PERP	+0.0185%	1h	94.740	+0.312%	$31K	$340K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0223%	1h	94.459	+0.015%	$20.2M	$30.2M	50x	as long as short
RISEx HYPE/USDC	+0.0249%	1h	94.451	+0.006%	$3.2M	$6.4M	20x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.388	−0.060%	$85K	$120K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.400	−0.048%	$17.1M	$12.4M	75x	as long as short