data as of
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Price arb /

HYPE

all HYPE markets
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

After costs, if the gap returns to its 7d average, $10k−$31
spread now−0.100%7d average−0.105%fees + slippage, in and out−$32spread needed0.318%
Long on PhoenixShort on KuCoin
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhoenix HYPE92.3820.0351pay 0.0044% / 1h7m 02s$219K$984K10x
ShortKuCoin HYPEUSDTM92.2900.0100get 0.0050% / 4h2h 07m$45.9M$19.7M75x

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
−$9.96
Funding while held
−$7.54
Slippage, 4 orders
−$12.75
Fee Phoenix: 3.5 bp × 2 orders
−$7
Fee KuCoin: 6 bp × 2 orders
−$12
Net
−$49.25
Spread needed to break even
0.318%
Slippage from Phoenix: live order book, 48 min ago; KuCoin: live order book, 8 min ago.

Cost of waiting

funding view
Funding /8h
−0.0251%
Per $10,000 a day
−$7.54
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Phoenix live order book, 48 min ago1.18 bp5.8 bp −$611.1 bp −$111doesn't fitdoesn't fit
Sell KuCoin live order book, 8 min ago1.19 bp11.2 bp −$1115.8 bp −$158doesn't fitdoesn't fit

HYPE price on every exchange

against the cheapest. Click to use as the short leg.
Ondo Perps92.240cheapestCoinbase International92.240cheapestHibachi92.263+0.025%Hotstuff92.271+0.034%Bybit92.287+0.051%
KuCoin92.290+0.054%
Arcus92.292+0.056%Aster92.293+0.058%Bitget92.295+0.060%OKX92.296+0.061%Extended92.297+0.062%BingX92.318+0.085%Gate92.323+0.090%MEXC92.329+0.096%Katana Perps92.340+0.108%Vest92.347+0.116%Derive92.350+0.119%Bluefin92.353+0.123%Binance92.354+0.123%Nado92.355+0.124%Aevo92.356+0.126%SoDEX92.359+0.129%Perpl92.365+0.135%Popdex92.372+0.143%dYdX92.373+0.144%Hyperliquid92.373+0.144%Pacifica92.377+0.149%BloFin92.378+0.150%GMX92.378+0.150%01 Exchange92.382+0.154%StandX92.382+0.154%
Phoenix92.382+0.154%
Backpack92.384+0.156%Polymarket Perps92.384+0.156%Orderly92.388+0.160%Reya92.389+0.161%Kalshi92.390+0.163%Lighter RH92.394+0.167%Bullet92.397+0.170%edgeX92.397+0.170%Phemex92.398+0.171%Paradex92.402+0.176%ApeX Omni92.403+0.177%gTrade (Gains Network)92.405+0.179%Kraken Futures92.411+0.185%Lighter92.419+0.194%SunX92.428+0.204%RISEx92.439+0.216%Deribit92.462+0.241%HTX92.500+0.282%Variational Omni92.513+0.296%Aftermath Perps92.539+0.324%Bulk92.796+0.602%Injective93.660+1.539%

HYPE on 54 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Ondo Perps HYPE-USD.P−0.154%+0.0100%1h$696K$976K10xas long as short
Coinbase International HYPE-PERP-INTX−0.154%+0.0200%1h$4.9M$5.2M50xas long as short
Hibachi HYPE/USDT-P−0.129%−0.0944%1h$191K$226K7xas long as short
Hotstuff HYPE-PERP−0.120%−0.0080%1h$3K$30725xas long as short
Bybit HYPEUSDT−0.103%+0.0100%8h$324.0M$285.1M75xas long as short
KuCoin HYPEUSDTMshort−0.100%+0.0100%4h$45.9M$19.7M75x
Arcus HYPE-USD−0.097%+0.0100%1h$1.2M$4.0M10xas long as short
Aster HYPEUSDT−0.096%+0.0100%4h$8.8M$35.5M300xas long as short
Bitget HYPEUSDT−0.094%+0.0100%4h$225.2M$100.6M75xas long as short
OKX HYPE-USDT-SWAP−0.093%+0.0100%8h$114.0M$309.7M50xas long as short
Show all 54 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Extended HYPE-USD−0.092%+0.0104%1h$18.0M$40.9M50xas long as short
BingX HYPE-USDT−0.069%+0.0100%4h—$53.8M—as long as short
Gate HYPE_USDT−0.064%+0.0100%4h$43.7M$55.1M75xas long as short
MEXC HYPE_USDT−0.057%+0.0100%4h$90.8M$84.0M100xas long as short
Katana Perps HYPE-USD−0.045%+0.0100%8h$12K$1.8M10xas long as short
Vest HYPE-PERP−0.038%+0.0100%1h—$407K5xas long as short
Derive HYPE-PERP−0.035%+0.0100%1h$16.2M$7.2M10xas long as short
Bluefin HYPE-PERP−0.031%+0.0100%1h$75K$180K20xas long as short
Binance HYPEUSDT−0.030%+0.0100%4h$386.0M$850.9M75xas long as short
Nado HYPE-PERP−0.030%+0.0100%1h$6.4M$43.5M10xas long as short
Aevo HYPE-PERP−0.028%+0.0104%1h$393K$335K20xas long as short
SoDEX HYPE-USD−0.025%+0.0100%1h$2.0M$2.0M10xas long as short
Perpl HYPE−0.019%+0.0447%43m$27K$366K10xas long as short
Popdex HYPEUSDT−0.011%+0.0096%1h$67K$1.2M50xas long as short
dYdX HYPE-USD−0.010%+0.0007%1h$126K$26K5xas long as short
Hyperliquid HYPE−0.010%+0.0797%1h$1.99B$632.6M10xas long as short
Pacifica HYPE−0.005%+0.0100%1h$11.2M$12.2M20xas long as short
BloFin HYPE-USDT−0.004%+0.0340%4h$17.4M$11.7M75xas long as short
GMX HYPE/USD [WBTC.b-USDC]−0.004%L +0.0341% / S −0.0166%1h$1.4M—100xas long as short
01 Exchange HYPEUSD0.000%+0.0088%1h$89K$317K20xas long as short
StandX HYPE-USD0.000%+0.0100%1h$667K$2.3M20xas long as short
Phoenix HYPElong0.000%+0.0351%1h$219K$984K10x
Backpack HYPE_USDC_PERP+0.002%+0.0100%1h$8.4M$10.8M20xas long as short
Polymarket Perps HYPE-USD+0.002%+0.0100%1h$467K$2.5M20xas long as short
Orderly PERP_HYPE_USDC+0.006%+0.0097%4h$190K$478K20xas long as short
Reya HYPERUSDPERP+0.007%+0.0238%1h$76K$157K15xas long as short
Kalshi KXHYPEPERP+0.009%+0.0103%8h$1.7M$5.0M2.3xas long as short
Lighter RH HYPE+0.013%+0.0096%1h$3.1M$12.3M20xas long as short
Bullet HYPE-USD+0.016%+0.0100%1h$111K$568K20xas long as short
edgeX HYPEUSDC+0.016%+0.0110%4h$5.0M$28.4M30xas long as short
Phemex HYPEUSDT+0.017%+0.0100%8h$12.5M$2.3M50xas long as short
Paradex HYPE-USD-PERP+0.022%+0.0110%8h$338K$287K20xas long as short
ApeX Omni HYPEUSDT+0.023%+0.0100%1h$421K$931K50xas long as short
gTrade (Gains Network) HYPE/USD+0.025%L +0.0002% / S −0.0001%1h$54K—150xas long as short
Kraken Futures PF_HYPEUSD+0.031%+0.0259%1h$16.1M$20.7M50xas long as short
Lighter HYPE+0.040%+0.0096%1h$18.1M$57.9M20xas long as short
SunX HYPE-USDT+0.050%+0.0100%4h$32K$1.6M20xas long as short
RISEx HYPE/USDC+0.062%+0.0611%1h$2.6M$6.6M20xas long as short
Deribit HYPE_USDC-PERPETUAL+0.087%+0.0573%1h$7.3M$4.7M50xas long as short
HTX HYPE-USDT+0.128%+0.0744%4h$1.5M$7.2M75xas long as short
Variational Omni HYPE+0.142%+0.0100%8h$28.7M$48.9M—as long as short
Aftermath Perps HYPEUSD+0.170%+0.0225%1h$22K$30K10xas long as short
Bulk HYPE-USD+0.448%+0.0100%1h$203K$8K10xas long as short
Injective HYPE/USDC PERP+1.383%+0.0082%1h$21K$168K12xas long as short