Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: SunX against Pacifica+0.056%7-day average +0.042% · you sell dearer than you buy

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

costs, in and out, $10k−$660.659% of the position

Long on Pacifica Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.097%+$10 on $10k

Price spread, last 3 days (all we have)−0.030%−$3 · spread now +0.056%, 7d avg +0.042%

Together, before fees+0.067%+ Points / potential airdropPacifica: Active · farm board+$7 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica HYPE	93.828	0.0100	pay 0.0013% / 1h	20m 55s	$10.1M	$14.7M	20x
Short	SunX HYPE-USDT	93.881	0.0100	get 0.0050% / 4h	2h 20m	$32K	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.056%Rate

Funding earned: $0
Price spread: +0.056% → +0.042%: $1.46
Slippage, 4 orders: −$49.9
Fee Pacifica: 4 bp × 2 orders: −$8
Fee SunX: 4 bp × 2 orders: −$8
Net: −$64.44
Costs to cover: 0.659%
Break-even: never at this rate

Slippage from Pacifica: live order book, 3 min ago; SunX: 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 Pacifica live order book, 3 min ago	0.05 bp	4.5 bp −$4	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 4 min ago	19.38 bp	32.8 bp −$33	doesn't fit	doesn't fit	doesn't fit

HYPE on 54 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	−0.1016%	1h	93.763	−0.069%	$197K	$229K	7x	as long as short
Arcus HYPE-USD	−0.0786%	1h	93.685	−0.152%	$1.2M	$3.8M	10x	as long as short
Phemex HYPEUSDT	−0.0131%	8h	93.796	−0.034%	$12.7M	$2.7M	50x	as long as short
Aftermath Perps HYPEUSD	−0.0117%	1h	93.844	+0.017%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.815	−0.014%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0079%	1h	93.850	+0.023%	$702K	$924K	10x	as long as short
Orderly PERP_HYPE_USDC	−0.0056%	4h	93.741	−0.093%	$156K	$646K	20x	as long as short
01 Exchange HYPEUSD	−0.0048%	1h	93.797	−0.033%	$85K	$350K	20x	as long as short
Backpack HYPE_USDC_PERP	−0.0035%	1h	93.706	−0.130%	$7.8M	$10.3M	20x	as long as short
Gate HYPE_USDT	−0.0028%	4h	93.724	−0.111%	$44.4M	$55.1M	75x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	−0.0001%	4h	93.753	−0.080%	$8.8M	$35.8M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.833	+0.005%	$129K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.810	−0.020%	$22K	$326K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.809	−0.020%	$26K	—	150x	as long as short
Bybit HYPEUSDT	+0.0003%	8h	93.705	−0.131%	$321.8M	$281.0M	75x	as long as short
BingX HYPE-USDT	+0.0004%	4h	93.731	−0.103%	—	$53.6M	—	as long as short
Phoenix HYPE	+0.0060%	1h	93.885	+0.061%	$213K	$1.2M	10x	as long as short
MEXC HYPE_USDT	+0.0068%	4h	93.721	−0.114%	$89.0M	$83.1M	100x	as long as short
OKX HYPE-USDT-SWAP	+0.0068%	8h	93.710	−0.126%	$115.2M	$307.8M	50x	as long as short
Binance HYPEUSDT	+0.0069%	4h	93.722	−0.113%	$381.1M	$891.3M	75x	as long as short
Bullet HYPE-USD	+0.0070%	1h	93.781	−0.050%	$112K	$577K	20x	as long as short
edgeX HYPEUSDC	+0.0088%	4h	93.822	−0.006%	$5.1M	$29.9M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0096%	8h	93.839	+0.011%	$341K	$164K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.778	−0.054%	$16.4M	$62.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.782	−0.049%	$3.1M	$11.9M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.787	−0.044%	$67K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.771	−0.060%	$399K	$175K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.830	+0.002%	$21K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.803	−0.026%	$5.8M	$44.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.834	+0.006%	$2.05B	$665.6M	10x	as long as short
Pacifica HYPElong	+0.0100%	1h	93.828	long leg	$10.1M	$14.7M	20x
KuCoin HYPEUSDTM	+0.0100%	4h	93.752	−0.081%	$46.4M	$18.0M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.726	−0.109%	$227.1M	$98.4M	75x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.748	−0.086%	$31.1M	$54.6M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.837	+0.010%	$7.6M	$47.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.823	−0.005%	$339K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.887	+0.063%	$670K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.854	+0.028%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.820	−0.009%	$474K	$2.4M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.739	−0.095%	$79K	$171K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.748	−0.085%	$16.3M	$7.7M	10x	as long as short
SunX HYPE-USDTshort	+0.0100%	4h	93.881	+0.056%	$32K	$1.6M	20x
SoDEX HYPE-USD	+0.0100%	1h	93.761	−0.071%	$2.0M	$1.9M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.880	+0.055%	$204K	$10K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.690	−0.147%	$18.3M	$44.2M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0136%	1h	93.870	+0.045%	$4.9M	$5.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0137%	1h	93.740	−0.094%	$30K	$339K	12x	as long as short
HTX HYPE-USDT	+0.0200%	4h	93.950	+0.130%	$1.4M	$5.9M	75x	as long as short
RISEx HYPE/USDC	+0.0210%	1h	93.887	+0.063%	$3.2M	$7.0M	20x	as long as short
Reya HYPERUSDPERP	+0.0255%	1h	93.776	−0.056%	$80K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0278%	8h	93.829	+0.001%	$1.9M	$4.9M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0156%	1h	93.799	−0.030%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0368%	1h	93.863	+0.037%	$7.4M	$4.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0680%	1h	93.838	+0.010%	$21.0M	$29.8M	50x	as long as short