Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:20 UTC+0.0001%/8h= +0.1% APRpaid last 24h −0.009%

Price spread now: gTrade (Gains Network) against Perpl+0.052%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Perpl Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropPerpl: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: gTrade (Gains Network) is 0.052% dearer against Perpl than usual: you sell high and buy low, +$5 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Perpl HYPE	93.251	0	get 0.0000% / 43m	29m 25s	$23K	$334K	10x
Short	gTrade (Gains Network) HYPE/USD	93.299	L +0.0002% / S −0.0001%	get 0.0000% / 1h	59m 25s	$20K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Perpl. 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 PerplbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.052%Rate

Funding earned: $0.17
Price spread: +0.052% → 0.000%: $5.18
Slippage, 4 orders: no order book: not counted
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$18.45
Costs to cover: 0.238%
Break-even: 754.3 days

Slippage unknown: Perpl: no order-book sample; gTrade (Gains Network): no order-book sample. Net counts fees only.

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 Perpl no order-book sample	—	—	—	—	—
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

Perpl and gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0768%	1h	93.294	+0.046%	$197K	$232K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0276%	1h	93.283	+0.035%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0131%	1h	93.201	−0.053%	$1.2M	$4.1M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.214	−0.039%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0076%	1h	93.150	−0.108%	$701K	$932K	10x	as long as short
Derive HYPE-PERP	−0.0037%	1h	93.243	−0.008%	$16.4M	$7.1M	10x	as long as short
Bullet HYPE-USD	−0.0033%	1h	93.243	−0.008%	$111K	$580K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.280	+0.031%	$127K	$32K	5x	as long as short
01 Exchange HYPEUSD	0.0000%	1h	93.291	+0.043%	$90K	$360K	20x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.393	+0.153%	$1.9M	$5.3M	2.3x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPElong	0.0000%	43m	93.251	long leg	$23K	$334K	10x
gTrade (Gains Network) HYPE/USDshort	L +0.0002% / S −0.0001%	1h	93.299	+0.052%	$20K	—	150x
Aster HYPEUSDT	+0.0008%	4h	93.255	+0.005%	$8.9M	$35.8M	300x	as long as short
Bybit HYPEUSDT	+0.0028%	8h	93.252	+0.002%	$324.8M	$287.2M	75x	as long as short
Gate HYPE_USDT	+0.0036%	4h	93.273	+0.024%	$44.0M	$56.3M	75x	as long as short
Orderly PERP_HYPE_USDC	+0.0049%	4h	93.281	+0.033%	$167K	$512K	20x	as long as short
Phoenix HYPE	+0.0068%	1h	93.358	+0.115%	$216K	$1.2M	10x	as long as short
Vest HYPE-PERP	+0.0078%	1h	93.279	+0.030%	—	$454K	5x	as long as short
Lighter HYPE	+0.0096%	1h	93.263	+0.013%	$18.6M	$58.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.255	+0.005%	$3.1M	$12.0M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.263	+0.013%	$57K	$1.2M	50x	as long as short
Bluefin HYPE-PERP	+0.0098%	1h	93.289	+0.041%	$76K	$168K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.237	−0.015%	$339K	$170K	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.253	+0.003%	$2.0M	$2.0M	10x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.260	+0.010%	$36K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.254	+0.004%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.304	+0.057%	$2.03B	$671.9M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.246	−0.005%	$10.0M	$14.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.275	+0.026%	$384.8M	$889.4M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.260	+0.010%	$114.7M	$314.7M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.271	+0.022%	$204K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.264	+0.014%	$92.7M	$80.9M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.263	+0.013%	$46.2M	$18.8M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.274	+0.025%	$226.5M	$102.6M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.257	+0.007%	—	$54.2M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.265	+0.016%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.252	+0.001%	$29.1M	$50.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.313	+0.067%	$7.5M	$44.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.276	+0.027%	$405K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.324	+0.079%	$675K	$2.5M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.297	+0.050%	$493K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.333	+0.088%	$32K	$1.6M	20x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.249	−0.002%	$12.7M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.216	−0.037%	$18.4M	$41.8M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.327	+0.082%	$397K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0111%	4h	93.275	+0.026%	$5.1M	$29.5M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.390	+0.150%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0246%	1h	93.268	+0.019%	$78K	$158K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0275%	1h	93.405	+0.166%	$7.4M	$4.6M	50x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.301	+0.055%	$2.8M	$6.8M	20x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.910	+0.707%	$31K	$291K	12x	as long as short
HTX HYPE-USDT	+0.0300%	4h	93.485	+0.251%	$1.5M	$7.6M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0165%	1h	93.291	+0.043%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.289	+0.041%	$17.1M	$12.5M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0574%	1h	93.350	+0.107%	$19.6M	$26.9M	50x	as long as short