Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0001%/8h= −0.1% APRpaid last 24h +0.011%

Price spread now: Paradex against KuCoin+0.029%7-day average +0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$280.283% of the position

Long on KuCoin Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.008%+$1 on $10k

Price spread, last 4 days (all we have)−0.131%−$13 · spread now +0.029%, 7d avg +0.018%

Together, before fees−0.123%+ Points / potential airdropParadex: Active · farm board−$12 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin HYPEUSDTM	94.125	0.0100	pay 0.0050% / 4h	3h 24m	$46.6M	$18.1M	75x
Short	Paradex HYPE-USD-PERP	94.153	0.0099	get 0.0099% / 8h	7h 24m	$342K	$165K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.029%Rate

Funding earned: −$0.12
Price spread: +0.029% → +0.018%: $1.11
Slippage, 4 orders: −$12.35
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$27.36
Costs to cover: 0.283%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 min ago; Paradex: live order book, 50 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, 5 min ago	0.05 bp	11.9 bp −$12	15.9 bp −$159	doesn't fit	doesn't fit
Sell Paradex live order book, 50 min ago	1.23 bp	3.2 bp −$3	6.8 bp −$68	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	−0.1360%	1h	94.084	−0.044%	$199K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0625%	1h	94.026	−0.105%	$1.2M	$3.8M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0220%	1h	94.161	+0.038%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0146%	1h	94.090	−0.037%	$711K	$959K	10x	as long as short
dYdX HYPE-USD	−0.0127%	1h	94.123	−0.002%	$129K	$31K	5x	as long as short
Bullet HYPE-USD	−0.0111%	1h	94.097	−0.030%	$113K	$580K	20x	as long as short
Phemex HYPEUSDT	−0.0105%	8h	94.095	−0.032%	$12.8M	$2.6M	50x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	94.104	−0.022%	$86K	$360K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.136	+0.012%	$3K	$331	25x	as long as short
Bybit HYPEUSDT	−0.0023%	8h	94.070	−0.058%	$323.1M	$280.4M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_HYPE_USDC	−0.0019%	4h	94.077	−0.051%	$160K	$645K	20x	as long as short
Gate HYPE_USDT	−0.0002%	4h	94.108	−0.018%	$44.5M	$59.8M	75x	as long as short
Perpl HYPE	0.0000%	43m	94.152	+0.029%	$23K	$327K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	94.129	+0.004%	$27K	—	150x	as long as short
Aster HYPEUSDT	+0.0021%	4h	94.132	+0.008%	$8.9M	$36.1M	300x	as long as short
Phoenix HYPE	+0.0034%	1h	94.222	+0.103%	$219K	$1.2M	10x	as long as short
Derive HYPE-PERP	+0.0040%	1h	94.058	−0.071%	$16.4M	$7.3M	10x	as long as short
MEXC HYPE_USDT	+0.0050%	4h	94.088	−0.039%	$89.2M	$82.7M	100x	as long as short
Binance HYPEUSDT	+0.0053%	4h	94.096	−0.031%	$383.8M	$893.3M	75x	as long as short
edgeX HYPEUSDC	+0.0057%	4h	94.108	−0.018%	$5.1M	$29.9M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0078%	8h	94.075	−0.053%	$116.1M	$318.4M	50x	as long as short
Lighter HYPE	+0.0096%	1h	94.123	−0.002%	$19.2M	$59.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.107	−0.019%	$3.0M	$12.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.098	−0.029%	$66K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	94.093	−0.035%	$400K	$180K	20x	as long as short
Paradex HYPE-USD-PERPshort	+0.0099%	8h	94.153	+0.029%	$342K	$165K	20x
Katana Perps HYPE-USD	+0.0100%	8h	94.100	−0.027%	$24K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.097	−0.029%	$6.6M	$44.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.212	+0.092%	$2.05B	$671.7M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.144	+0.020%	$10.2M	$14.6M	20x	as long as short
KuCoin HYPEUSDTMlong	+0.0100%	4h	94.125	long leg	$46.6M	$18.1M	75x
Bitget HYPEUSDT	+0.0100%	4h	94.087	−0.040%	$228.1M	$100.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.078	−0.050%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.096	−0.031%	$7.7M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.149	+0.026%	$31.5M	$54.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.151	+0.027%	$7.6M	$46.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.088	−0.039%	$340K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.161	+0.038%	$681K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.162	+0.039%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.135	+0.011%	$480K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	94.096	−0.031%	$76K	$171K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.182	+0.061%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.088	−0.039%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.151	+0.027%	$205K	$2K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.077	−0.051%	$18.8M	$44.4M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	94.190	+0.069%	$4.9M	$5.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.490	+0.388%	$31K	$338K	12x	as long as short
BloFin HYPE-USDT	+0.0206%	4h	94.153	+0.030%	$17.1M	$12.2M	75x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	94.146	+0.022%	$2.8M	$6.8M	20x	as long as short
Kalshi KXHYPEPERP	+0.0228%	8h	94.196	+0.075%	$1.9M	$5.1M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0251%	1h	94.101	−0.026%	$79K	$142K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0324%	1h	94.189	+0.068%	$7.5M	$4.6M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0333% / S −0.0155%	1h	94.130	+0.005%	$1.4M	—	100x	as long as short
HTX HYPE-USDT	+0.0401%	4h	94.293	+0.178%	$1.5M	$6.2M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0670%	1h	94.177	+0.055%	$21.0M	$29.7M	50x	as long as short