Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.007%

Price spread now: KuCoin against Lighter RH+0.143%7-day average +0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$17as in the Funding arb table

Net, price: spread back to 7d avg − costs−$9as in the Price arb table

costs, in and out, $10k−$220.224% of the position

Long on Lighter RH Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.052%+$5 on $10k

Price spread, last 7 days−0.112%−$11 · spread now +0.143%, 7d avg +0.005%

Together, before fees−0.061%+ Points / potential airdropLighter RH: Points live · farm board−$6 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: KuCoin is 0.138% dearer against Lighter RH than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of +0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH HYPE	93.758	0.0096	pay 0.0012% / 1h	26m 27s	$3.2M	$11.1M	20x
Short	KuCoin HYPEUSDTM	93.892	0.0100	get 0.0050% / 4h	1h 26m	$46.5M	$18.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Lighter RH. 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 Lighter RHbpFee KuCoinbpOrdersPrice spread, now +0.143%Rate

Funding earned: $0.84
Price spread: +0.143% → +0.005%: $13.84
Slippage, 4 orders: −$10.45
Fee Lighter RH: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$7.77
Costs to cover: 0.224%
Break-even: 71.7 days

Slippage from Lighter RH: live order book, 2 min ago; KuCoin: live order book, 3 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 Lighter RH live order book, 2 min ago	1.39 bp	1.4 bp −$1	2.9 bp −$29	23.2 bp −$2,323	doesn't fit
Sell KuCoin live order book, 3 min ago	0.16 bp	8.4 bp −$8	12.9 bp −$129	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	−0.0992%	1h	93.495	−0.280%	$198K	$238K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0191%	1h	93.590	−0.179%	$22K	$21K	10x	as long as short
BingX HYPE-USDT	−0.0100%	4h	93.955	+0.210%	—	$53.5M	—	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.665	−0.099%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0066%	1h	93.879	+0.129%	$111K	$579K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0062%	1h	93.650	−0.115%	$705K	$1.2M	10x	as long as short
01 Exchange HYPEUSD	−0.0040%	1h	93.899	+0.150%	$86K	$368K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0018%	4h	93.634	−0.132%	$145K	$683K	20x	as long as short
Bluefin HYPE-PERP	−0.0003%	1h	93.644	−0.122%	$79K	$155K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.880	+0.130%	$129K	$26K	5x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	93.907	+0.159%	$20K	$290K	10x	as long as short
Bybit HYPEUSDT	+0.0002%	8h	93.860	+0.109%	$316.7M	$287.3M	75x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	94.048	+0.310%	$83K	—	150x	as long as short
Derive HYPE-PERP	+0.0007%	1h	93.302	−0.486%	$16.2M	$7.5M	10x	as long as short
Phoenix HYPE	+0.0017%	1h	93.623	−0.144%	$208K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0050%	4h	93.898	+0.149%	$226.3M	$99.5M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0078%	8h	93.823	+0.069%	$335K	$161K	20x	as long as short
Arcus HYPE-USD	+0.0084%	1h	93.785	+0.029%	$1.0M	$4.0M	10x	as long as short
Phemex HYPEUSDT	+0.0086%	8h	93.649	−0.116%	$12.8M	$2.8M	50x	as long as short
edgeX HYPEUSDC	+0.0093%	4h	93.551	−0.221%	$5.0M	$30.5M	30x	as long as short
Lighter HYPE	+0.0096%	1h	93.742	−0.017%	$16.2M	$64.0M	20x	as long as short
Lighter RH HYPElong	+0.0096%	1h	93.758	long leg	$3.2M	$11.1M	20x
Popdex HYPEUSDT	+0.0096%	1h	93.865	+0.114%	$78K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.770	+0.013%	$21K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.855	+0.103%	$7.5M	$50.6M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.975	+0.231%	$2.06B	$684.0M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.901	+0.152%	$8.8M	$37.0M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.773	+0.015%	$10.1M	$15.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.927	+0.180%	$375.8M	$929.2M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.879	+0.129%	$115.7M	$315.6M	50x	as long as short
Gate HYPE_USDT	+0.0100%	4h	93.779	+0.022%	$48.7M	$55.7M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.903	+0.155%	$90.5M	$84.3M	100x	as long as short
KuCoin HYPEUSDTMshort	+0.0100%	4h	93.892	+0.143%	$46.5M	$18.7M	75x
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.685	−0.078%	$7.2M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.449	−0.330%	$28.7M	$56.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.492	−0.283%	$7.5M	$48.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.566	−0.205%	$354K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.643	−0.123%	$678K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.879	+0.129%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.895	+0.146%	$471K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.725	−0.035%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.666	−0.098%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.779	+0.022%	$1.4M	$6.7M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.438	−0.341%	$216K	$15K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.752	−0.006%	$18.2M	$43.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.670	−0.094%	$396K	$159K	20x	as long as short
Kalshi KXHYPEPERP	+0.0105%	8h	93.720	−0.041%	$1.8M	$5.6M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	93.660	−0.105%	$4.7M	$6.1M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0151% / S +0.0022%	1h	93.681	−0.082%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	93.540	−0.233%	$30K	$339K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0230%	1h	93.754	−0.004%	$7.4M	$4.2M	50x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	93.879	+0.129%	$77K	$129K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.642	−0.124%	$16.9M	$12.2M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0415%	1h	93.742	−0.018%	$20.9M	$29.5M	50x	as long as short
RISEx HYPE/USDC	+0.0559%	1h	93.935	+0.189%	$3.2M	$6.3M	20x	as long as short