Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.025%

Price spread now: Bybit against Nado+0.002%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−$19as in the Price arb table

costs, in and out, $10k−$210.213% of the position

Long on Nado Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.034%−$3 on $10k

Price spread, last 7 days−0.078%−$8 · spread now +0.002%, 7d avg −0.018%

Together, before fees−0.112%+ Points / potential airdropNado: Active · farm board−$11 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado HYPE-PERP	96.469	0.0100	pay 0.0012% / 1h	10m 17s	$6.0M	$54.9M	10x
Short	Bybit HYPEUSDT	96.471	0.0100	get 0.0100% / 8h	3h 10m	$318.2M	$264.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Nado. 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 NadobpFee BybitbpOrdersPrice spread, now +0.002%Rate

Funding earned: $0
Price spread: +0.002% → −0.018%: $1.92
Slippage, 4 orders: −$3.34
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$19.42
Costs to cover: 0.213%
Break-even: 1994777624829059.0 days

Slippage from Nado: live order book, 2 min ago; Bybit: live order book, 2 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 Nado live order book, 2 min ago	0.05 bp	5.0 bp −$5	8.1 bp −$81	22.5 bp −$2,245	doesn't fit
Sell Bybit live order book, 2 min ago	0.52 bp	6.0 bp −$6	7.1 bp −$71	14.0 bp −$1,400	33.4 bp −$16.7K

HYPE on 55 exchanges

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	−0.0712%	1h	96.434	−0.037%	$201K	$293K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0678%	1h	96.425	−0.046%	$23K	$8K	10x	as long as short
Bluefin HYPE-PERP	−0.0613%	1h	96.456	−0.014%	$85K	$137K	20x	as long as short
BloFin HYPE-USDT	−0.0200%	4h	96.506	+0.038%	$18.6M	$11.7M	75x	as long as short
Kraken Futures PF_HYPEUSD	−0.0143%	1h	96.550	+0.084%	$17.2M	$36.1M	50x	as long as short
Aster HYPEUSDT	−0.0106%	4h	96.453	−0.017%	$9.5M	$30.1M	300x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	96.481	+0.012%	$3K	$89	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0030%	1h	96.460	−0.010%	$726K	$1.3M	10x	as long as short
01 Exchange HYPEUSD	−0.0016%	1h	96.514	+0.046%	$86K	$255K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0011%	4h	96.475	+0.006%	$156K	$592K	20x	as long as short

Show all 55 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	96.477	+0.008%	$25K	$175K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	96.510	+0.042%	$19K	—	150x	as long as short
Lighter HYPE	+0.0032%	1h	96.474	+0.004%	$17.7M	$49.6M	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0040%	1h	96.500	+0.032%	$5.0M	$5.6M	50x	as long as short
Gate HYPE_USDT	+0.0070%	4h	96.475	+0.006%	$69.7M	$56.4M	75x	as long as short
dYdX HYPE-USD	+0.0075%	1h	96.475	+0.006%	$128K	$93K	5x	as long as short
edgeX HYPEUSDC	+0.0081%	4h	96.314	−0.161%	$5.1M	$24.9M	30x	as long as short
Phoenix HYPE	+0.0083%	1h	96.417	−0.054%	$199K	$1.1M	10x	as long as short
Arcus HYPE-USD	+0.0085%	1h	96.457	−0.013%	$1.1M	$2.8M	10x	as long as short
RISEx HYPE/USDC	+0.0095%	1h	96.529	+0.061%	$3.1M	$4.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	96.484	+0.015%	$2.8M	$9.6M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	96.485	+0.016%	$170K	$1.5M	50x	as long as short
Derive HYPE-PERP	+0.0096%	1h	96.463	−0.007%	$16.2M	$4.1M	10x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	96.540	+0.073%	$29K	$1.2M	10x	as long as short
Nado HYPE-PERPlong	+0.0100%	1h	96.469	long leg	$6.0M	$54.9M	10x
Hyperliquid HYPE	+0.0100%	1h	96.494	+0.025%	$2.11B	$545.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	96.523	+0.055%	$10.4M	$6.0M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	96.492	+0.023%	$398.0M	$746.8M	75x	as long as short
Bybit HYPEUSDTshort	+0.0100%	8h	96.471	+0.002%	$318.2M	$264.7M	75x
OKX HYPE-USDT-SWAP	+0.0100%	8h	96.494	+0.025%	$119.0M	$292.0M	50x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	96.492	+0.023%	$89.5M	$87.3M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	96.501	+0.033%	$46.6M	$17.9M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	96.488	+0.019%	$231.8M	$80.3M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	96.497	+0.029%	—	$46.6M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	96.518	+0.050%	$6.2M	$11.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	96.333	−0.141%	$31.4M	$51.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	96.381	−0.092%	$7.7M	$45.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	96.301	−0.175%	$366K	$837K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	96.510	+0.042%	$699K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	96.544	+0.077%	—	$938	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	96.498	+0.030%	$473K	$3.5M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	96.475	+0.006%	$114K	$516K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	96.535	+0.068%	$33K	$1.1M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	96.483	+0.014%	$2.1M	$271K	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	96.648	+0.185%	$1.5M	$4.8M	75x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	96.480	+0.011%	$13.2M	$2.0M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	96.360	−0.114%	$217K	$29K	10x	as long as short
Paradex HYPE-USD-PERP	+0.0100%	8h	96.525	+0.057%	$344K	$21K	20x	as long as short
Extended HYPE-USD	+0.0104%	1h	96.471	+0.001%	$18.2M	$29.7M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	96.501	+0.033%	$408K	$184K	20x	as long as short
Kalshi KXHYPEPERP	+0.0121%	8h	96.600	+0.135%	$1.7M	$4.0M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0148% / S +0.0017%	1h	96.523	+0.055%	$1.4M	—	100x	as long as short
Reya HYPERUSDPERP	+0.0264%	1h	96.478	+0.009%	$84K	$67K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0475%	1h	96.589	+0.124%	$7.6M	$3.2M	50x	as long as short
Injective HYPE/USDC PERP	+0.0697%	1h	96.380	−0.093%	$31K	$284K	12x	as long as short