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% APRnext payment +$0.00 per $10,000 · paid last 24h −0.031%

Price spread now: Gate against SunX−0.066%7-day average −0.084% · you buy dearer than you sell

Net, funding: paid 7d − costs−$156as in the Funding arb table

Net, price: spread back to 7d avg − costs−$145as in the Price arb table

costs, in and out, $10k−$1471.468% of the position

Long on SunX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.092%−$9 on $10k

Price spread, last 3 days (all we have)+0.015%+$1 · spread now −0.066%, 7d avg −0.084%

Together, before fees−0.077%−$8 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX HYPE-USDT	94.035	0.0100	pay 0.0050% / 4h	3h 58m	$32K	$1.6M	20x
Short	Gate HYPE_USDT	93.973	0.0100	get 0.0050% / 4h	3h 58m	$44.4M	$58.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against SunX. 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 SunXbpFee GatebpOrdersPrice spread, now −0.066%Rate

Funding earned: $0
Price spread: −0.066% → −0.084%: $1.8
Slippage, 4 orders: −$123.83
Fee SunX: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$145.03
Costs to cover: 1.468%
Break-even: never at this rate

Slippage from SunX: live order book, 7 min ago; Gate: live order book, 6 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 SunX live order book, 7 min ago	54.37 bp	59.1 bp −$59	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 6 min ago	0.05 bp	8.9 bp −$9	15.4 bp −$154	36.2 bp −$3,619	59.0 bp −$29.5K

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	−0.1416%	1h	93.956	−0.084%	$199K	$229K	7x	as long as short
dYdX HYPE-USD	−0.0717%	1h	93.909	−0.134%	$128K	$30K	5x	as long as short
Arcus HYPE-USD	−0.0625%	1h	93.855	−0.191%	$1.2M	$3.8M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0330%	1h	93.987	−0.051%	$22K	$22K	10x	as long as short
Bybit HYPEUSDT	−0.0152%	8h	93.955	−0.085%	$323.3M	$283.7M	75x	as long as short
01 Exchange HYPEUSD	−0.0120%	1h	93.967	−0.072%	$86K	$367K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0087%	1h	93.810	−0.239%	$705K	$923K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.955	−0.085%	$3K	$331	25x	as long as short
Derive HYPE-PERP	−0.0017%	1h	93.918	−0.125%	$16.4M	$7.2M	10x	as long as short
Orderly PERP_HYPE_USDC	−0.0008%	4h	93.966	−0.073%	$169K	$594K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	93.955	−0.085%	$23K	$329K	10x	as long as short
Bullet HYPE-USD	+0.0001%	1h	93.982	−0.056%	$112K	$579K	20x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	94.014	−0.022%	$27K	—	150x	as long as short
Phoenix HYPE	+0.0009%	1h	94.114	+0.084%	$218K	$1.2M	10x	as long as short
Aster HYPEUSDT	+0.0015%	4h	93.966	−0.073%	$8.9M	$36.2M	300x	as long as short
Popdex HYPEUSDT	+0.0016%	1h	93.967	−0.072%	$60K	$1.2M	50x	as long as short
Binance HYPEUSDT	+0.0044%	4h	93.968	−0.071%	$383.9M	$898.9M	75x	as long as short
MEXC HYPE_USDT	+0.0046%	4h	93.971	−0.068%	$88.1M	$81.8M	100x	as long as short
edgeX HYPEUSDC	+0.0053%	4h	93.991	−0.046%	$5.1M	$29.7M	30x	as long as short
Phemex HYPEUSDT	+0.0056%	8h	94.006	−0.031%	$12.8M	$2.6M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0086%	8h	93.976	−0.063%	$116.0M	$322.6M	50x	as long as short
Lighter HYPE	+0.0096%	1h	94.032	−0.003%	$18.9M	$58.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.004	−0.033%	$3.1M	$12.0M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	94.019	−0.017%	$400K	$206K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	94.001	−0.036%	$341K	$171K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.040	+0.005%	$42K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.969	−0.070%	$6.6M	$44.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.068	+0.035%	$2.05B	$680.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.975	−0.064%	$10.1M	$14.6M	20x	as long as short
Gate HYPE_USDTshort	+0.0100%	4h	93.973	−0.066%	$44.4M	$58.3M	75x
KuCoin HYPEUSDTM	+0.0100%	4h	93.968	−0.071%	$46.5M	$18.5M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.992	−0.046%	$227.7M	$101.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.973	−0.066%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.971	−0.068%	$7.7M	$10.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.972	−0.067%	$31.4M	$54.2M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.052	+0.018%	$7.6M	$45.4M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.033	−0.002%	$340K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.016	−0.020%	$680K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.997	−0.041%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.990	−0.048%	$472K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.981	−0.057%	$76K	$171K	20x	as long as short
SunX HYPE-USDTlong	+0.0100%	4h	94.035	long leg	$32K	$1.6M	20x
SoDEX HYPE-USD	+0.0100%	1h	93.968	−0.071%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.944	−0.097%	$205K	$6K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.958	−0.082%	$18.4M	$42.6M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.960	−0.080%	$4.9M	$5.7M	50x	as long as short
Kalshi KXHYPEPERP	+0.0163%	8h	93.993	−0.045%	$1.9M	$5.0M	2.3x	as long as short
BloFin HYPE-USDT	+0.0188%	4h	93.972	−0.067%	$17.0M	$12.6M	75x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	93.990	−0.048%	$31K	$338K	12x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	94.006	−0.031%	$2.8M	$6.9M	20x	as long as short
HTX HYPE-USDT	+0.0228%	4h	94.085	+0.053%	$1.5M	$7.8M	75x	as long as short
Reya HYPERUSDPERP	+0.0250%	1h	93.957	−0.083%	$77K	$142K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0157%	1h	94.011	−0.026%	$1.5M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0377%	1h	94.083	+0.051%	$7.5M	$4.7M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0671%	1h	94.070	+0.037%	$21.0M	$29.5M	50x	as long as short