HYPER arbitrage explained
Right now Hyperlane (HYPER) trades on 9 venues we scan: 9 perpetual markets, 6 spot markets and 0 DEX pools. The lowest ask is on Bybit perp at $0.0689 and the highest bid on KuCoin spot at $0.0691.
The widest HYPER perpetual spread is between Bybit and Gate: long HYPER on Bybit at $0.0689 and short on Gate at $0.0689 for +0.06% gross, or -0.10% after the 0.16% two-leg fee model. No transfer is needed: both positions stay on their exchanges until the prices converge. The funding difference on this pair is +0.123% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best HYPER route is to buy spot on Binance and short the perpetual on Gate: -0.14% gross, -0.34% net, with +0.030% a day of funding on the short leg.
Spot–spot HYPER arbitrage (buy on Binance, withdraw, deposit and sell on KuCoin) shows +0.14% gross right now. It only works if withdrawals on the buying exchange and deposits on the selling exchange are open, so check the D/W dots before moving coins.
Small HYPER gaps usually disappear after fees, slippage and funding. Look at the Net column, the executable Depth and the spread history before trading: a gap that has been open for days is a different trade from a one-minute spike.
Related: HYPER funding rates · HYPER spread charts · Hyperlane price · arbitrage scanner for all coins.