Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.006%

Price spread now: Binance against Aevo+0.033%48s7-day average +0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$420.419% of the position

Long on Aevo Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.027%−$3 on $10k

Price spread, last 3 days (all we have)+0.163%+$16 · spread now +0.033%, 7d avg +0.006%

Together, before fees+0.136%+$14 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.027% dearer against Aevo than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.006%. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo HYPE-PERP	93.243	0.0104	pay 0.0013% / 1h	53m 33s	$397K	$318K	20x
Short	Binance HYPEUSDT	93.274	0.0100	get 0.0050% / 4h	2h 53m	$385.7M	$890.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.033%Rate

Funding earned: −$0.84
Price spread: +0.033% → +0.006%: $2.69
Slippage, 4 orders: −$15.89
Fee Aevo: 8 bp × 2 orders: −$16
Fee Binance: 5 bp × 2 orders: −$10
Net: −$40.05
Costs to cover: 0.419%
Break-even: never at this rate

Slippage from Aevo: live order book, 35 min ago; Binance: live order book, 5 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, 35 min ago	6.65 bp	16.8 bp −$17	18.3 bp −$183	20.3 bp −$2,031	doesn't fit
Sell Binance live order book, 5 min ago	0.05 bp	5.1 bp −$5	7.5 bp −$75	13.9 bp −$1,389	29.7 bp −$14.8K

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	−0.1328%	1h	93.228	−0.017%	$197K	$235K	7x	as long as short
Ondo Perps HYPE-USD.P	−0.0186%	1h	93.210	−0.036%	$699K	$948K	10x	as long as short
Aftermath Perps HYPEUSD	−0.0107%	1h	93.328	+0.091%	$22K	$22K	10x	as long as short
01 Exchange HYPEUSD	−0.0104%	1h	93.290	+0.050%	$89K	$340K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.231	−0.013%	$3K	$331	25x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.247	+0.004%	$127K	$33K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.304	+0.065%	$1.9M	$5.4M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.210	−0.036%	$23K	$343K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.272	+0.030%	$20K	—	150x	as long as short
Aster HYPEUSDT	+0.0004%	4h	93.278	+0.037%	$8.9M	$36.3M	300x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate HYPE_USDT	+0.0004%	4h	93.269	+0.028%	$44.1M	$56.2M	75x	as long as short
Derive HYPE-PERP	+0.0037%	1h	93.192	−0.055%	$16.4M	$7.1M	10x	as long as short
Bybit HYPEUSDT	+0.0041%	8h	93.273	+0.032%	$325.2M	$288.4M	75x	as long as short
Bullet HYPE-USD	+0.0045%	1h	93.214	−0.031%	$112K	$583K	20x	as long as short
Orderly PERP_HYPE_USDC	+0.0078%	4h	93.262	+0.020%	$180K	$536K	20x	as long as short
Phoenix HYPE	+0.0094%	1h	93.336	+0.099%	$215K	$1.2M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.303	+0.064%	$18.5M	$58.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.279	+0.038%	$3.1M	$12.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.275	+0.034%	$56K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.300	+0.061%	$40K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.275	+0.033%	$6.0M	$44.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.300	+0.061%	$2.03B	$668.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.273	+0.032%	$10.0M	$14.5M	20x	as long as short
Binance HYPEUSDTshort	+0.0100%	4h	93.274	+0.033%	$385.7M	$890.4M	75x
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.285	+0.045%	$114.7M	$316.1M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.246	+0.003%	$1.2M	$4.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.386	+0.153%	$204K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.278	+0.037%	$92.1M	$81.5M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.298	+0.059%	$46.3M	$19.5M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.299	+0.060%	$226.6M	$102.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.290	+0.050%	—	$54.4M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.274	+0.033%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.285	+0.044%	$28.8M	$49.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.383	+0.150%	$7.5M	$46.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.338	+0.102%	$405K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.266	+0.024%	$674K	$2.4M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.268	+0.026%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.254	+0.011%	$493K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.226	−0.019%	$76K	$169K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.243	0.000%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.237	−0.007%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.278	+0.037%	$12.7M	$2.6M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0100%	8h	93.292	+0.052%	$339K	$171K	20x	as long as short
edgeX HYPEUSDC	+0.0101%	4h	93.326	+0.089%	$5.1M	$29.4M	30x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.296	+0.057%	$18.4M	$41.0M	50x	as long as short
Aevo HYPE-PERPlong	+0.0104%	1h	93.243	long leg	$397K	$318K	20x
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.290	+0.050%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0244%	1h	93.221	−0.024%	$77K	$157K	15x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.210	−0.036%	$30K	$231K	12x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0165%	1h	93.258	+0.015%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.352	+0.117%	$17.2M	$12.5M	75x	as long as short
HTX HYPE-USDT	+0.0414%	4h	93.378	+0.144%	$1.5M	$7.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0447%	1h	93.346	+0.110%	$7.4M	$4.6M	50x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.372	+0.138%	$2.7M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0574%	1h	93.407	+0.175%	$19.2M	$25.7M	50x	as long as short