Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.017%

Price spread now: 01 Exchange against KuCoin+0.012%7-day average +0.034% · 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−$32as in the Price arb table

costs, in and out, $10k−$300.301% of the position

Long on KuCoin Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.024%−$2 on $10k

Price spread, last 4 days (all we have)−0.007%−$1 · spread now +0.012%, 7d avg +0.034%

Together, before fees−0.030%−$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and 01 Exchange is 0.022% cheaper against KuCoin than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.034%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin HYPEUSDTM	94.114	0.0100	pay 0.0050% / 4h	38m 31s	$47.2M	$18.4M	75x
Short	01 Exchange HYPEUSD	94.125	0	get 0.0000% / 1h	38m 31s	$87K	$365K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now +0.012%Rate

Funding earned: −$21
Price spread: +0.012% → +0.034%: −$2.2
Slippage, 4 orders: −$11.1
Fee KuCoin: 6 bp × 2 orders: −$12
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$53.31
Costs to cover: 0.301%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 min ago; 01 Exchange: live order book, 41 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	1.11 bp	9.6 bp −$10	14.2 bp −$142	doesn't fit	doesn't fit
Sell 01 Exchange live order book, 41 min ago	0.11 bp	6.4 bp −$6	9.1 bp −$91	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	−0.0672%	1h	93.967	−0.156%	$199K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0410%	1h	94.095	−0.020%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	94.003	−0.118%	$1.2M	$3.8M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.099	−0.016%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0016%	1h	94.010	−0.111%	$704K	$908K	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.120	+0.007%	$128K	$30K	5x	as long as short
01 Exchange HYPEUSDshort	0.0000%	1h	94.125	+0.012%	$87K	$365K	20x
Perpl HYPE	0.0000%	43m	94.152	+0.040%	$23K	$329K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	94.100	−0.015%	$27K	—	150x	as long as short
Orderly PERP_HYPE_USDC	+0.0008%	4h	94.079	−0.037%	$164K	$579K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix HYPE	+0.0009%	1h	94.116	+0.002%	$215K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0021%	8h	94.120	+0.006%	$324.1M	$282.7M	75x	as long as short
Aster HYPEUSDT	+0.0035%	4h	94.088	−0.028%	$8.9M	$35.9M	300x	as long as short
Derive HYPE-PERP	+0.0052%	1h	94.024	−0.096%	$16.5M	$7.1M	10x	as long as short
Phemex HYPEUSDT	+0.0059%	8h	94.071	−0.046%	$12.8M	$2.6M	50x	as long as short
MEXC HYPE_USDT	+0.0070%	4h	94.080	−0.036%	$88.9M	$81.2M	100x	as long as short
Binance HYPEUSDT	+0.0071%	4h	94.130	+0.017%	$385.4M	$891.2M	75x	as long as short
edgeX HYPEUSDC	+0.0076%	4h	94.051	−0.067%	$5.1M	$29.8M	30x	as long as short
Gate HYPE_USDT	+0.0080%	4h	94.077	−0.039%	$44.6M	$58.7M	75x	as long as short
Lighter HYPE	+0.0096%	1h	94.131	+0.018%	$19.0M	$59.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.111	−0.003%	$3.1M	$12.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.130	+0.017%	$64K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	94.089	−0.027%	$400K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	94.090	−0.025%	$342K	$171K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.160	+0.049%	$29K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.124	+0.011%	$5.7M	$44.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.120	+0.006%	$10.1M	$14.5M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	94.130	+0.017%	$116.0M	$320.2M	50x	as long as short
KuCoin HYPEUSDTMlong	+0.0100%	4h	94.114	long leg	$47.2M	$18.4M	75x
Bitget HYPEUSDT	+0.0100%	4h	94.141	+0.029%	$228.0M	$102.8M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.082	−0.034%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.099	−0.016%	$7.9M	$10.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.033	−0.086%	$31.4M	$53.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.098	−0.016%	$7.6M	$45.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.049	−0.069%	$335K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.077	−0.039%	$680K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.142	+0.030%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.144	+0.032%	$492K	$2.5M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	94.061	−0.056%	$112K	$579K	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	94.084	−0.032%	$76K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.093	−0.022%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.076	−0.040%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.120	+0.006%	$205K	$7K	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.000	−0.121%	$31K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.070	−0.047%	$18.4M	$42.6M	50x	as long as short
Kalshi KXHYPEPERP	+0.0134%	8h	94.120	+0.006%	$1.9M	$5.0M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	94.150	+0.038%	$4.9M	$5.7M	50x	as long as short
HTX HYPE-USDT	+0.0225%	4h	94.257	+0.152%	$1.5M	$7.8M	75x	as long as short
Reya HYPERUSDPERP	+0.0248%	1h	94.120	+0.006%	$77K	$142K	15x	as long as short
BloFin HYPE-USDT	+0.0283%	4h	94.068	−0.049%	$17.0M	$12.6M	75x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	94.159	+0.048%	$2.8M	$6.9M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0340% / S −0.0165%	1h	94.094	−0.021%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0345%	1h	94.179	+0.069%	$7.4M	$4.6M	50x	as long as short
Hyperliquid HYPE	+0.0421%	1h	94.211	+0.103%	$2.05B	$667.1M	10x	as long as short
Kraken Futures PF_HYPEUSD	+0.0576%	1h	94.192	+0.083%	$21.1M	$29.2M	50x	as long as short