Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.069%

Price spread now: Hyperliquid against Nado+0.012%7-day average +0.003% · 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−$18as in the Price arb table

costs, in and out, $10k−$190.185% of the position

Long on Nado Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.070%+$7 on $10k

Price spread, last 7 days−0.038%−$4 · spread now +0.012%, 7d avg +0.003%

Together, before fees+0.032%+ Points / potential airdropNado: Active · Hyperliquid: Season 2 · farm board+$3 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	92.913	0.0100	pay 0.0012% / 1h	30m 15s	$5.9M	$44.1M	10x
Short	Hyperliquid HYPE	92.924	0.0100	get 0.0013% / 1h	30m 15s	$2.02B	$671.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.012%Rate

Funding earned: $0
Price spread: +0.012% → +0.003%: $0.87
Slippage, 4 orders: −$2.5
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$17.63
Costs to cover: 0.185%
Break-even: 1811715042977876.5 days

Slippage from Nado: live order book, 4 min ago; Hyperliquid: live order book, 4 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, 4 min ago	0.05 bp	3.7 bp −$4	5.9 bp −$59	30.1 bp −$3,014	doesn't fit
Sell Hyperliquid live order book, 4 min ago	0.05 bp	6.1 bp −$6	7.2 bp −$72	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
Aftermath Perps HYPEUSD	−0.0393%	1h	93.061	+0.160%	$22K	$22K	10x	as long as short
Hibachi HYPE/USDT-P	−0.0256%	1h	93.000	+0.094%	$196K	$230K	7x	as long as short
Arcus HYPE-USD	−0.0131%	1h	92.874	−0.042%	$1.2M	$4.0M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0130%	1h	92.880	−0.036%	$698K	$924K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.921	+0.009%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0032%	1h	92.907	−0.006%	$90K	$362K	20x	as long as short
Popdex HYPEUSDT	−0.0016%	1h	92.906	−0.008%	$57K	$1.2M	50x	as long as short
Aster HYPEUSDT	−0.0005%	4h	92.911	−0.002%	$8.8M	$36.0M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.933	+0.022%	$126K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.924	+0.012%	$23K	$331K	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	92.945	+0.035%	$20K	—	150x	as long as short
Bybit HYPEUSDT	+0.0024%	8h	92.888	−0.027%	$322.3M	$287.3M	75x	as long as short
Orderly PERP_HYPE_USDC	+0.0025%	4h	92.931	+0.019%	$171K	$518K	20x	as long as short
Bullet HYPE-USD	+0.0031%	1h	92.910	−0.003%	$111K	$579K	20x	as long as short
Derive HYPE-PERP	+0.0033%	1h	92.879	−0.037%	$16.2M	$7.1M	10x	as long as short
Gate HYPE_USDT	+0.0034%	4h	92.905	−0.009%	$43.7M	$58.4M	75x	as long as short
Phoenix HYPE	+0.0034%	1h	93.118	+0.221%	$214K	$1.2M	10x	as long as short
Binance HYPEUSDT	+0.0070%	4h	92.896	−0.019%	$381.7M	$894.6M	75x	as long as short
MEXC HYPE_USDT	+0.0072%	4h	92.917	+0.004%	$89.9M	$81.9M	100x	as long as short
edgeX HYPEUSDC	+0.0086%	4h	93.085	+0.185%	$5.1M	$29.6M	30x	as long as short
Lighter HYPE	+0.0096%	1h	92.958	+0.049%	$18.5M	$58.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.943	+0.032%	$3.1M	$12.1M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0098%	8h	92.925	+0.013%	$338K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	92.990	+0.083%	$34K	$1.6M	10x	as long as short
Nado HYPE-PERPlong	+0.0100%	1h	92.913	long leg	$5.9M	$44.1M	10x
Hyperliquid HYPEshort	+0.0100%	1h	92.924	+0.012%	$2.02B	$671.5M	10x
Pacifica HYPE	+0.0100%	1h	92.941	+0.030%	$9.9M	$14.3M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	92.893	−0.022%	$113.6M	$313.4M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.030	+0.126%	$203K	$8K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.918	+0.005%	$46.9M	$18.9M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.911	−0.002%	$225.2M	$103.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	92.893	−0.022%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.921	+0.009%	$7.8M	$11.1M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.003	+0.097%	$28.9M	$50.6M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.144	+0.249%	$7.5M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.095	+0.196%	$412K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.014	+0.109%	$673K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.941	+0.030%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.922	+0.010%	$491K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.908	−0.005%	$75K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.936	+0.025%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.911	−0.002%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	92.936	+0.025%	$12.7M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.893	−0.022%	$18.2M	$42.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.899	−0.015%	$395K	$318K	20x	as long as short
Kalshi KXHYPEPERP	+0.0109%	8h	92.991	+0.084%	$1.9M	$5.3M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	92.970	+0.061%	$4.9M	$5.7M	50x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	92.950	+0.040%	$30K	$338K	12x	as long as short
HTX HYPE-USDT	+0.0243%	4h	93.090	+0.191%	$1.5M	$7.7M	75x	as long as short
Reya HYPERUSDPERP	+0.0247%	1h	92.885	−0.030%	$77K	$158K	15x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	92.982	+0.074%	$2.7M	$6.8M	20x	as long as short
BloFin HYPE-USDT	+0.0293%	4h	92.998	+0.091%	$16.9M	$12.4M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0158%	1h	92.938	+0.027%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0467%	1h	93.031	+0.127%	$20.8M	$28.9M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0482%	1h	93.021	+0.116%	$7.4M	$4.6M	50x	as long as short