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 −0.008%

Price spread now: KuCoin against SunX−0.050%7-day average −0.068% · you buy dearer than you sell

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$77as in the Price arb table

costs, in and out, $10k−$790.791% of the position

Long on SunX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.017%−$2 on $10k

Price spread, last 4 days (all we have)+0.109%+$11 · spread now −0.050%, 7d avg −0.068%

Together, before fees+0.092%+$9 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	93.588	0.0100	pay 0.0050% / 4h	1h 30m	$32K	$1.6M	20x
Short	KuCoin HYPEUSDTM	93.541	0.0100	get 0.0050% / 4h	1h 30m	$46.0M	$18.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.050%Rate

Funding earned: $0
Price spread: −0.050% → −0.068%: $1.8
Slippage, 4 orders: −$59.1
Fee SunX: 4 bp × 2 orders: −$8
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$77.3
Costs to cover: 0.791%
Break-even: never at this rate

Slippage from SunX: live order book, 5 min ago; KuCoin: live order book, 9 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, 5 min ago	18.20 bp	22.9 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 9 min ago	0.43 bp	10.6 bp −$11	17.6 bp −$176	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
Hibachi HYPE/USDT-P	−0.1304%	1h	93.561	−0.029%	$197K	$226K	7x	as long as short
Arcus HYPE-USD	−0.0899%	1h	93.419	−0.181%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0104%	1h	93.320	−0.286%	$699K	$996K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.512	−0.081%	$3K	$331	25x	as long as short
Phemex HYPEUSDT	−0.0071%	8h	93.364	−0.239%	$12.6M	$2.7M	50x	as long as short
Aftermath Perps HYPEUSD	−0.0069%	1h	93.470	−0.126%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0056%	1h	93.515	−0.078%	$85K	$343K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0042%	4h	93.487	−0.108%	$154K	$651K	20x	as long as short
Bullet HYPE-USD	−0.0006%	1h	93.503	−0.091%	$111K	$578K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.560	−0.030%	$128K	$31K	5x	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	93.510	−0.083%	$23K	$322K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.506	−0.088%	$62K	—	150x	as long as short
BingX HYPE-USDT	+0.0024%	4h	93.503	−0.091%	—	$53.0M	—	as long as short
Phoenix HYPE	+0.0026%	1h	93.512	−0.081%	$213K	$1.2M	10x	as long as short
Aster HYPEUSDT	+0.0031%	4h	93.559	−0.031%	$8.8M	$35.5M	300x	as long as short
Bybit HYPEUSDT	+0.0038%	8h	93.492	−0.103%	$321.6M	$277.0M	75x	as long as short
Gate HYPE_USDT	+0.0056%	4h	93.518	−0.075%	$44.6M	$55.0M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0076%	8h	93.471	−0.125%	$114.3M	$302.1M	50x	as long as short
Derive HYPE-PERP	+0.0095%	1h	93.458	−0.139%	$16.2M	$7.5M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.568	−0.021%	$16.3M	$61.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.563	−0.027%	$3.1M	$11.6M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.507	−0.087%	$69K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.587	−0.001%	$340K	$162K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.510	−0.083%	$17K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.506	−0.087%	$5.8M	$43.2M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.581	−0.007%	$2.04B	$654.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.577	−0.012%	$10.1M	$14.6M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.504	−0.089%	$379.3M	$876.2M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.364	−0.239%	$203K	$10K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.514	−0.079%	$89.8M	$80.8M	100x	as long as short
KuCoin HYPEUSDTMshort	+0.0100%	4h	93.541	−0.050%	$46.0M	$18.1M	75x
Bitget HYPEUSDT	+0.0100%	4h	93.483	−0.112%	$226.0M	$96.6M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.563	−0.027%	$7.4M	$10.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.546	−0.045%	$31.2M	$53.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.532	−0.060%	$7.6M	$45.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.349	−0.255%	$339K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.584	−0.004%	$668K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.569	−0.021%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.539	−0.052%	$472K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.462	−0.135%	$79K	$170K	20x	as long as short
SunX HYPE-USDTlong	+0.0100%	4h	93.588	long leg	$32K	$1.6M	20x
SoDEX HYPE-USD	+0.0100%	1h	93.401	−0.200%	$2.0M	$1.9M	10x	as long as short
edgeX HYPEUSDC	+0.0102%	4h	93.459	−0.138%	$5.1M	$29.7M	30x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.457	−0.140%	$18.4M	$43.7M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.475	−0.120%	$398K	$162K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.470	−0.126%	$4.8M	$5.6M	50x	as long as short
HTX HYPE-USDT	+0.0184%	4h	93.550	−0.041%	$1.4M	$6.0M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0221%	1h	93.547	−0.044%	$7.5M	$4.4M	50x	as long as short
Reya HYPERUSDPERP	+0.0258%	1h	93.497	−0.097%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0279%	8h	93.570	−0.019%	$1.9M	$5.0M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0156%	1h	93.529	−0.063%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.555	−0.035%	$17.0M	$11.6M	75x	as long as short
RISEx HYPE/USDC	+0.0510%	1h	93.622	+0.037%	$3.2M	$6.3M	20x	as long as short
Injective HYPE/USDC PERP	+0.0519%	1h	93.310	−0.297%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0685%	1h	93.445	−0.153%	$20.8M	$29.8M	50x	as long as short