KPEPE: Paradex → Hyperliquid

Long on the venue with the lower rate, short on the venue with the higher one. Income comes from the rate difference; price exposure cancels out.

Spread

+104%

APR right now

Price gap

-0.020%

between legs

Average spread

+8%

over 24h from our own samples

Over 7 days

+8%

samples: 120

ParadexLONG

Bid / ask0.005007 / 0.005014

Mark price0.00501

Volume 24h—

Open interest$5.61K

Rate+0.0774%

APR+85%

Interval / next payout8h / 5h 21m

Paradex

HyperliquidSHORT

Bid / ask0.005013 / 0.005015

Mark price0.005015

Volume 24h$139.24M

Open interest$53.50M

Rate+0.0215%

APR+188%

Interval / next payout1h / 21m

Hyperliquid

Spread from our samples

spread over the period: from -56% to 243% APR, 120 samples

The rate can flip at any moment, and then the position starts costing money. Size is limited by the weaker leg, and entry and exit both pay fees on two venues. Not financial advice.