Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.013%

Price spread now: Gate against MEXC−0.010%7-day average −0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$260.259% of the position

Long on MEXC Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.070%−$7 on $10k

Price spread, last 7 days+0.005%+$1 · spread now −0.010%, 7d avg −0.021%

Together, before fees−0.064%−$6 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC HYPE_USDT	94.258	0.0100	pay 0.0050% / 4h	1h 06m	$89.9M	$85.4M	100x
Short	Gate HYPE_USDT	94.249	0.0100	get 0.0050% / 4h	1h 06m	$49.4M	$57.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against MEXC. 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 MEXCbpFee GatebpOrdersPrice spread, now −0.010%Rate

Funding earned: $0
Price spread: −0.010% → −0.021%: $1.11
Slippage, 4 orders: −$6.92
Fee MEXC: 2 bp × 2 orders: −$4
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$24.81
Costs to cover: 0.259%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; Gate: 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 MEXC live order book, 3 min ago	0.05 bp	2.1 bp −$2	3.0 bp −$30	7.9 bp −$788	24.5 bp −$12.2K
Sell Gate live order book, 3 min ago	0.05 bp	11.4 bp −$11	17.7 bp −$177	35.6 bp −$3,563	58.6 bp −$29.3K

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	−0.1128%	1h	94.272	+0.014%	$200K	$234K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0158%	1h	94.319	+0.065%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0097%	1h	94.310	+0.055%	$710K	$1.2M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.373	+0.122%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0066%	1h	94.278	+0.021%	$111K	$578K	20x	as long as short
01 Exchange HYPEUSD	−0.0048%	1h	94.351	+0.099%	$87K	$366K	20x	as long as short
Bluefin HYPE-PERP	−0.0044%	1h	94.207	−0.054%	$80K	$155K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0011%	4h	94.246	−0.013%	$146K	$685K	20x	as long as short
Bybit HYPEUSDT	−0.0006%	8h	94.250	−0.008%	$317.6M	$289.4M	75x	as long as short
BingX HYPE-USDT	−0.0004%	4h	94.254	−0.004%	—	$53.5M	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX HYPE-USD	0.0000%	1h	94.405	+0.155%	$129K	$26K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.399	+0.150%	$1.8M	$5.6M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.421	+0.173%	$19K	$287K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.303	+0.048%	$117K	—	150x	as long as short
Derive HYPE-PERP	+0.0003%	1h	94.317	+0.063%	$16.4M	$7.5M	10x	as long as short
Phoenix HYPE	+0.0017%	1h	94.223	−0.037%	$209K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0052%	4h	94.239	−0.020%	$226.8M	$99.9M	75x	as long as short
Phemex HYPEUSDT	+0.0053%	8h	94.294	+0.038%	$12.9M	$2.9M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0071%	8h	94.380	+0.130%	$337K	$156K	20x	as long as short
Arcus HYPE-USD	+0.0084%	1h	94.328	+0.074%	$1.0M	$3.5M	10x	as long as short
edgeX HYPEUSDC	+0.0085%	4h	94.169	−0.094%	$5.0M	$30.7M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0094%	8h	94.250	−0.008%	$116.4M	$320.0M	50x	as long as short
Lighter HYPE	+0.0096%	1h	94.251	−0.008%	$16.3M	$64.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.264	+0.006%	$3.2M	$11.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.317	+0.063%	$79K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.360	+0.108%	$15K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.315	+0.061%	$7.3M	$50.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.355	+0.103%	$2.07B	$688.0M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.288	+0.032%	$8.8M	$37.2M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.365	+0.114%	$10.2M	$15.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.249	−0.010%	$377.2M	$931.8M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.183	−0.080%	$217K	$15K	10x	as long as short
Gate HYPE_USDTshort	+0.0100%	4h	94.249	−0.010%	$49.4M	$57.1M	75x
MEXC HYPE_USDTlong	+0.0100%	4h	94.258	long leg	$89.9M	$85.4M	100x
KuCoin HYPEUSDTM	+0.0100%	4h	94.258	0.000%	$46.9M	$18.6M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.234	−0.025%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.138	−0.128%	$29.1M	$55.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.264	+0.006%	$7.6M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.207	−0.054%	$362K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.384	+0.134%	$682K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.403	+0.153%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.353	+0.101%	$496K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.380	+0.129%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.251	−0.007%	$2.1M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.437	+0.190%	$1.4M	$6.8M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.209	−0.052%	$18.2M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.379	+0.128%	$399K	$159K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	94.300	+0.045%	$4.7M	$6.2M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0142%	1h	94.331	+0.077%	$7.5M	$4.3M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0151% / S +0.0022%	1h	94.468	+0.222%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.310	+0.055%	$30K	$340K	12x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.269	+0.012%	$83K	$134K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.367	+0.116%	$17.0M	$12.3M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0412%	1h	94.323	+0.069%	$20.2M	$30.3M	50x	as long as short
RISEx HYPE/USDC	+0.0559%	1h	94.355	+0.102%	$3.2M	$6.4M	20x	as long as short