Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.022%

Price spread now: Gate against Pacifica−0.038%7-day average −0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$320.316% of the position

Long on Pacifica Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.006%+$1 on $10k

Price spread, last 7 days+0.045%+$5 · spread now −0.038%, 7d avg −0.013%

Together, before fees+0.051%+ Points / potential airdropPacifica: Active · farm board+$5 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: Gate is 0.025% cheaper against Pacifica than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica HYPE	93.970	0.0100	pay 0.0013% / 1h	19m 20s	$10.1M	$15.4M	20x
Short	Gate HYPE_USDT	93.934	0.0100	get 0.0050% / 4h	2h 19m	$47.3M	$54.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Pacifica. 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 PacificabpFee GatebpOrdersPrice spread, now −0.038%Rate

Funding earned: $0
Price spread: −0.038% → −0.013%: −$2.5
Slippage, 4 orders: −$8.61
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$34.11
Costs to cover: 0.316%
Break-even: never at this rate

Slippage from Pacifica: live order book, 5 min ago; Gate: live order book, 5 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 Pacifica live order book, 5 min ago	0.43 bp	4.7 bp −$5	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	0.27 bp	11.8 bp −$12	15.8 bp −$158	30.6 bp −$3,065	52.7 bp −$26.3K

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	−0.1376%	1h	93.862	−0.115%	$199K	$239K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0422%	1h	93.521	−0.478%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.906	−0.068%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0041%	1h	93.921	−0.053%	$112K	$580K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0018%	4h	93.905	−0.069%	$146K	$672K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.915	−0.059%	$129K	$29K	5x	as long as short
01 Exchange HYPEUSD	0.0000%	1h	93.948	−0.023%	$88K	$365K	20x	as long as short
Perpl HYPE	0.0000%	43m	93.951	−0.020%	$22K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.956	−0.015%	$62K	—	150x	as long as short
Arcus HYPE-USD	+0.0011%	1h	93.888	−0.087%	$1.0M	$3.9M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget HYPEUSDT	+0.0014%	4h	93.959	−0.012%	$226.8M	$98.9M	75x	as long as short
Bybit HYPEUSDT	+0.0020%	8h	93.924	−0.049%	$318.8M	$283.1M	75x	as long as short
Phoenix HYPE	+0.0026%	1h	93.624	−0.368%	$208K	$1.2M	10x	as long as short
Phemex HYPEUSDT	+0.0029%	8h	93.881	−0.095%	$12.8M	$2.8M	50x	as long as short
Ondo Perps HYPE-USD.P	+0.0047%	1h	93.870	−0.106%	$704K	$1.2M	10x	as long as short
edgeX HYPEUSDC	+0.0094%	4h	93.626	−0.366%	$5.0M	$29.9M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0094%	8h	93.987	+0.018%	$342K	$157K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.952	−0.019%	$16.2M	$63.3M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.952	−0.019%	$3.1M	$11.5M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.930	−0.043%	$73K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.750	−0.234%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.910	−0.063%	$7.8M	$48.5M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.986	+0.017%	$2.05B	$670.6M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.948	−0.023%	$8.8M	$36.4M	300x	as long as short
Pacifica HYPElong	+0.0100%	1h	93.970	long leg	$10.1M	$15.4M	20x
Binance HYPEUSDT	+0.0100%	4h	93.949	−0.023%	$376.7M	$915.9M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.948	−0.023%	$115.8M	$313.3M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.358	−0.651%	$216K	$15K	10x	as long as short
Gate HYPE_USDTshort	+0.0100%	4h	93.934	−0.038%	$47.3M	$54.6M	75x
MEXC HYPE_USDT	+0.0100%	4h	93.939	−0.033%	$90.5M	$81.7M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.936	−0.036%	$46.4M	$18.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.939	−0.033%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.925	−0.048%	$7.2M	$10.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.699	−0.289%	$28.6M	$56.2M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.275	−0.740%	$7.5M	$47.3M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.227	−0.791%	$342K	$997K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.924	−0.049%	$672K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.976	+0.006%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.953	−0.018%	$482K	$2.7M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.959	−0.012%	$79K	$166K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.933	−0.039%	$16.2M	$7.4M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.003	+0.035%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.944	−0.028%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.051	+0.086%	$1.4M	$6.5M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.925	−0.048%	$18.2M	$43.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.948	−0.024%	$397K	$158K	20x	as long as short
Kalshi KXHYPEPERP	+0.0113%	8h	93.839	−0.139%	$1.8M	$5.6M	2.3x	as long as short
Injective HYPE/USDC PERP	+0.0122%	1h	94.080	+0.117%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.950	−0.021%	$4.6M	$5.8M	50x	as long as short
Reya HYPERUSDPERP	+0.0270%	1h	93.934	−0.038%	$80K	$127K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0293%	1h	94.028	+0.062%	$7.5M	$4.1M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0333% / S −0.0154%	1h	93.946	−0.025%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0339%	1h	94.012	+0.045%	$21.0M	$29.5M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.730	−0.255%	$16.8M	$12.0M	75x	as long as short
RISEx HYPE/USDC	+0.0527%	1h	93.956	−0.015%	$3.2M	$6.3M	20x	as long as short