Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.009%

Price spread now: Pacifica against MEXC+0.032%7-day average −0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$20as in the Funding arb table

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

costs, in and out, $10k−$130.131% of the position

Long on MEXC Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.073%−$7 on $10k

Price spread, last 7 days−0.028%−$3 · spread now +0.032%, 7d avg −0.007%

Together, before fees−0.101%+ Points / potential airdropPacifica: Active · farm board−$10 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: Pacifica is 0.040% dearer against MEXC than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC HYPE_USDT	92.675	0.0100	pay 0.0050% / 4h	23m 21s	$87.5M	$80.8M	100x
Short	Pacifica HYPE	92.705	0.0100	get 0.0013% / 1h	23m 21s	$10.0M	$15.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.032%Rate

Funding earned: $0
Price spread: +0.032% → −0.007%: $3.97
Slippage, 4 orders: −$1.11
Fee MEXC: 2 bp × 2 orders: −$4
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$9.14
Costs to cover: 0.131%
Break-even: never at this rate

Slippage from MEXC: live order book, 6 min ago; Pacifica: live order book, 1 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, 6 min ago	0.05 bp	2.1 bp −$2	3.4 bp −$34	10.8 bp −$1,082	46.7 bp −$23.3K
Sell Pacifica live order book, 1 min ago	0.11 bp	4.6 bp −$5	doesn't fit	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
Arcus HYPE-USD	−0.0948%	1h	92.614	−0.066%	$1.1M	$3.9M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0264%	1h	92.680	+0.005%	$194K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0222%	1h	92.632	−0.046%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.700	+0.027%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0064%	4h	92.641	−0.037%	$157K	$666K	20x	as long as short
01 Exchange HYPEUSD	−0.0024%	1h	92.700	+0.027%	$87K	$359K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.674	−0.001%	$127K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.688	+0.014%	$22K	$304K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.696	+0.022%	$62K	—	150x	as long as short
Phemex HYPEUSDT	+0.0020%	8h	92.747	+0.078%	$12.5M	$2.7M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps HYPE-USD.P	+0.0024%	1h	92.640	−0.038%	$697K	$1.1M	10x	as long as short
Bullet HYPE-USD	+0.0027%	1h	92.662	−0.014%	$111K	$579K	20x	as long as short
Aster HYPEUSDT	+0.0035%	4h	92.675	0.000%	$8.7M	$36.3M	300x	as long as short
BingX HYPE-USDT	+0.0040%	4h	92.675	0.000%	—	$53.4M	—	as long as short
Phoenix HYPE	+0.0043%	1h	92.652	−0.025%	$210K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0048%	8h	92.656	−0.021%	$316.5M	$282.0M	75x	as long as short
Gate HYPE_USDT	+0.0082%	4h	92.666	−0.010%	$44.5M	$55.2M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0086%	8h	92.678	+0.003%	$113.5M	$304.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0093%	8h	92.713	+0.041%	$339K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.687	+0.013%	$16.0M	$62.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.705	+0.032%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.677	+0.002%	$69K	$1.1M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.660	−0.016%	$41K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.680	+0.006%	$6.5M	$44.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.702	+0.029%	$2.02B	$662.4M	10x	as long as short
Pacifica HYPEshort	+0.0100%	1h	92.705	+0.032%	$10.0M	$15.1M	20x
Binance HYPEUSDT	+0.0100%	4h	92.675	0.000%	$372.0M	$904.0M	75x	as long as short
MEXC HYPE_USDTlong	+0.0100%	4h	92.675	long leg	$87.5M	$80.8M	100x
KuCoin HYPEUSDTM	+0.0100%	4h	92.676	+0.001%	$46.0M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.663	−0.013%	$224.3M	$98.9M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.700	+0.027%	$7.3M	$11.1M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.628	−0.051%	$28.5M	$57.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.667	−0.009%	$7.5M	$46.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.679	+0.004%	$350K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.665	−0.011%	$664K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.729	+0.058%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.687	+0.013%	$465K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.647	−0.030%	$78K	$170K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.670	−0.005%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.676	+0.001%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.682	+0.008%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.841	+0.179%	$1.4M	$6.2M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.701	+0.028%	$202K	$13K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.657	−0.019%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.684	+0.010%	$392K	$164K	20x	as long as short
edgeX HYPEUSDC	+0.0117%	4h	92.646	−0.031%	$5.0M	$29.5M	30x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	93.000	+0.351%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.720	+0.049%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0242%	8h	92.779	+0.112%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0262%	1h	92.664	−0.012%	$79K	$134K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0154%	1h	92.679	+0.004%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0332%	1h	92.743	+0.073%	$20.6M	$30.5M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.668	−0.008%	$16.6M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0386%	1h	92.768	+0.100%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.742	+0.072%	$3.2M	$6.4M	20x	as long as short