Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.007%

Price spread now: KuCoin against SoDEX−0.002%7-day average −0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$320.318% of the position

Long on SoDEX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.011%−$1 on $10k

Price spread, last 4 days (all we have)+0.064%+$6 · spread now −0.002%, 7d avg −0.004%

Together, before fees+0.053%+$5 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX HYPE-USD	92.280	0.0100	pay 0.0013% / 1h	35m 25s	$2.0M	$2.0M	10x
Short	KuCoin HYPEUSDTM	92.278	0.0100	get 0.0050% / 4h	35m 25s	$45.8M	$18.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against SoDEX. 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 SoDEXbpFee KuCoinbpOrdersPrice spread, now −0.002%Rate

Funding earned: $0
Price spread: −0.002% → −0.004%: $0.19
Slippage, 4 orders: −$11.84
Fee SoDEX: 4 bp × 2 orders: −$8
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$31.65
Costs to cover: 0.318%
Break-even: never at this rate

Slippage from SoDEX: live order book, 3 min ago; KuCoin: 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 SoDEX live order book, 3 min ago	0.05 bp	6.4 bp −$6	13.2 bp −$132	101.2 bp −$10.1K	doesn't fit
Sell KuCoin live order book, 4 min ago	0.32 bp	8.9 bp −$9	13.9 bp −$139	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
Arcus HYPE-USD	−0.0948%	1h	92.234	−0.050%	$1.0M	$3.8M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0360%	1h	92.205	−0.081%	$193K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0162%	1h	92.269	−0.012%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0088%	1h	92.300	+0.022%	$86K	$356K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.221	−0.064%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0070%	4h	92.262	−0.020%	$157K	$663K	20x	as long as short
Bullet HYPE-USD	−0.0034%	1h	92.230	−0.054%	$110K	$580K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0023%	1h	92.160	−0.130%	$693K	$1.1M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.261	−0.021%	$127K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.266	−0.015%	$22K	$309K	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0001%	4h	92.273	−0.007%	$8.7M	$36.3M	300x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.266	−0.015%	$61K	—	150x	as long as short
BingX HYPE-USDT	+0.0034%	4h	92.256	−0.026%	—	$53.3M	—	as long as short
Phoenix HYPE	+0.0043%	1h	92.257	−0.025%	$209K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0057%	8h	92.255	−0.027%	$315.4M	$281.6M	75x	as long as short
Gate HYPE_USDT	+0.0062%	4h	92.236	−0.048%	$44.3M	$55.0M	75x	as long as short
Phemex HYPEUSDT	+0.0071%	8h	92.187	−0.101%	$12.4M	$2.7M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0079%	8h	92.271	−0.010%	$112.8M	$302.4M	50x	as long as short
MEXC HYPE_USDT	+0.0084%	4h	92.255	−0.027%	$87.1M	$80.6M	100x	as long as short
Binance HYPEUSDT	+0.0086%	4h	92.266	−0.015%	$369.8M	$902.4M	75x	as long as short
edgeX HYPEUSDC	+0.0088%	4h	92.224	−0.061%	$4.9M	$29.6M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0092%	8h	92.301	+0.022%	$338K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.251	−0.031%	$16.0M	$62.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.256	−0.026%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.269	−0.012%	$68K	$1.2M	50x	as long as short
Derive HYPE-PERP	+0.0097%	1h	92.250	−0.032%	$16.0M	$7.5M	10x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.270	−0.011%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.270	−0.010%	$6.8M	$44.2M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.309	+0.031%	$2.01B	$665.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.291	+0.011%	$10.0M	$15.0M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.245	−0.038%	$201K	$13K	10x	as long as short
KuCoin HYPEUSDTMshort	+0.0100%	4h	92.278	−0.002%	$45.8M	$18.3M	75x
Bitget HYPEUSDT	+0.0100%	4h	92.281	+0.001%	$223.8M	$98.4M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.185	−0.103%	$7.3M	$10.8M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.139	−0.153%	$28.2M	$57.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.255	−0.028%	$7.5M	$46.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.201	−0.086%	$337K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.239	−0.044%	$662K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.301	+0.023%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.270	−0.011%	$475K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.244	−0.039%	$78K	$170K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.334	+0.059%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USDlong	+0.0100%	1h	92.280	long leg	$2.0M	$2.0M	10x
HTX HYPE-USDT	+0.0100%	4h	92.300	+0.022%	$1.4M	$6.2M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.257	−0.025%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.269	−0.012%	$390K	$164K	20x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	92.180	−0.108%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.320	+0.043%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0251%	8h	92.200	−0.087%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0261%	1h	92.235	−0.049%	$79K	$137K	15x	as long as short
BloFin HYPE-USDT	+0.0324%	4h	92.213	−0.073%	$16.7M	$11.5M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0154%	1h	92.257	−0.025%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0333%	1h	92.347	+0.073%	$20.5M	$30.5M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0476%	1h	92.378	+0.106%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.344	+0.069%	$3.1M	$6.4M	20x	as long as short