Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0115%/8h= −12.6% APRpaid last 24h −0.017%

Price spread now: Aster against Aevo+0.042%7-day average −0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$410.410% of the position

Long on Aevo Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.054%−$5 on $10k

Price spread, last 3 days (all we have)−0.010%−$1 · spread now +0.042%, 7d avg −0.010%

Together, before fees−0.064%+ Points / potential airdropAster: Stage 5 · farm board−$6 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aster is 0.052% dearer against Aevo than usual: you sell high and buy low (spread +0.042% now, against its 7-day average of −0.010%): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 36 hours. At the pace of the last 7 days (−0.054% in total) that is about 6.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo HYPE-PERP	93.435	0.0096	pay 0.0012% / 1h	32m 59s	$397K	$177K	20x
Short	Aster HYPEUSDT	93.474	−0.0019	pay 0.0010% / 4h	2h 32m	$8.9M	$36.2M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Aevo. 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 AevobpFee AsterbpOrdersPrice spread, now +0.042%Rate

Funding earned: −$24.19
Price spread: +0.042% → −0.010%: $5.21
Slippage, 4 orders: −$17.03
Fee Aevo: 8 bp × 2 orders: −$16
Fee Aster: 4 bp × 2 orders: −$8
Net: −$60.01
Costs to cover: 0.410%
Break-even: never at this rate

Slippage from Aevo: live order book, 36 min ago; Aster: 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 Aevo live order book, 36 min ago	7.76 bp	17.2 bp −$17	23.0 bp −$230	26.4 bp −$2,639	doesn't fit
Sell Aster live order book, 6 min ago	0.05 bp	4.1 bp −$4	4.6 bp −$46	11.0 bp −$1,104	doesn't fit

HYPE on 54 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	−0.0904%	1h	93.476	+0.044%	$196K	$231K	7x	as long as short
Arcus HYPE-USD	−0.0786%	1h	93.285	−0.160%	$1.2M	$3.9M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0167%	1h	93.383	−0.055%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0117%	1h	93.350	−0.091%	$698K	$986K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.559	+0.133%	$3K	$331	25x	as long as short
Phemex HYPEUSDT	−0.0077%	8h	93.417	−0.019%	$12.7M	$2.7M	50x	as long as short
Gate HYPE_USDT	−0.0070%	4h	93.440	+0.006%	$44.3M	$54.6M	75x	as long as short
Backpack HYPE_USDC_PERP	−0.0068%	1h	93.397	−0.041%	$7.8M	$10.4M	20x	as long as short
01 Exchange HYPEUSD	−0.0064%	1h	93.429	−0.006%	$85K	$353K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0057%	4h	93.410	−0.027%	$156K	$652K	20x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDTshort	−0.0019%	4h	93.474	+0.042%	$8.9M	$36.2M	300x
dYdX HYPE-USD	0.0000%	1h	93.439	+0.005%	$128K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.410	−0.027%	$22K	$331K	10x	as long as short
BingX HYPE-USDT	+0.0002%	4h	93.432	−0.003%	—	$53.8M	—	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.440	+0.005%	$26K	—	150x	as long as short
Bybit HYPEUSDT	+0.0002%	8h	93.494	+0.063%	$321.2M	$285.1M	75x	as long as short
MEXC HYPE_USDT	+0.0050%	4h	93.431	−0.004%	$88.0M	$82.7M	100x	as long as short
Binance HYPEUSDT	+0.0054%	4h	93.470	+0.038%	$380.2M	$905.5M	75x	as long as short
edgeX HYPEUSDC	+0.0059%	4h	93.458	+0.024%	$5.1M	$30.0M	30x	as long as short
Bullet HYPE-USD	+0.0059%	1h	93.438	+0.003%	$112K	$578K	20x	as long as short
Phoenix HYPE	+0.0060%	1h	93.170	−0.283%	$210K	$1.2M	10x	as long as short
OKX HYPE-USDT-SWAP	+0.0065%	8h	93.511	+0.081%	$114.9M	$315.3M	50x	as long as short
Derive HYPE-PERP	+0.0076%	1h	93.401	−0.036%	$16.2M	$7.7M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0094%	8h	93.458	+0.025%	$339K	$165K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.436	+0.001%	$16.4M	$62.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.430	−0.005%	$3.1M	$11.9M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.385	−0.053%	$66K	$1.2M	50x	as long as short
Aevo HYPE-PERPlong	+0.0096%	1h	93.435	long leg	$397K	$177K	20x
Katana Perps HYPE-USD	+0.0100%	8h	93.350	−0.091%	$21K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.379	−0.059%	$5.7M	$45.2M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.527	+0.099%	$2.04B	$670.1M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.451	+0.017%	$10.0M	$14.8M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.439	+0.004%	$46.0M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.456	+0.023%	$226.1M	$100.4M	75x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.411	−0.026%	$31.0M	$54.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.516	+0.087%	$7.5M	$48.3M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.468	+0.035%	$338K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.511	+0.081%	$667K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.501	+0.070%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.438	+0.003%	$468K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.428	−0.007%	$79K	$173K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.499	+0.069%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.432	−0.003%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.348	−0.093%	$203K	$10K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.416	−0.020%	$18.4M	$44.5M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0136%	1h	93.440	+0.006%	$4.9M	$5.6M	50x	as long as short
Injective HYPE/USDC PERP	+0.0137%	1h	93.490	+0.059%	$30K	$339K	12x	as long as short
RISEx HYPE/USDC	+0.0210%	1h	93.442	+0.008%	$2.7M	$6.7M	20x	as long as short
HTX HYPE-USDT	+0.0218%	4h	93.571	+0.146%	$1.4M	$6.2M	75x	as long as short
Reya HYPERUSDPERP	+0.0254%	1h	93.408	−0.029%	$79K	$142K	15x	as long as short
Kalshi KXHYPEPERP	+0.0266%	8h	93.577	+0.152%	$1.9M	$5.1M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0334% / S −0.0158%	1h	93.449	+0.015%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0445%	1h	93.531	+0.103%	$7.5M	$4.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0682%	1h	93.528	+0.099%	$20.9M	$30.1M	50x	as long as short