Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.014%

Price spread now: Bitget against Aevo+0.151%7-day average −0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$690.689% of the position

Long on Aevo Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.084%−$8 on $10k

Price spread, last 4 days (all we have)−0.167%−$17 · spread now +0.151%, 7d avg −0.020%

Together, before fees−0.251%−$25 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: Bitget is 0.171% dearer against Aevo than usual: you sell high and buy low, +$17 on $10k if it goes back to its 7-day average of −0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo HYPE-PERP	92.594	0.0104	pay 0.0013% / 1h	30m 47s	$391K	$164K	20x
Short	Bitget HYPEUSDT	92.733	0.0100	get 0.0050% / 4h	30m 47s	$224.9M	$98.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.151%Rate

Funding earned: −$0.84
Price spread: +0.151% → −0.020%: $17.06
Slippage, 4 orders: −$40.91
Fee Aevo: 8 bp × 2 orders: −$16
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$52.69
Costs to cover: 0.689%
Break-even: never at this rate

Slippage from Aevo: live order book, 28 min ago; Bitget: live order book, 3 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, 28 min ago	17.65 bp	25.6 bp −$26	25.6 bp −$256	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	0.05 bp	8.9 bp −$9	13.0 bp −$130	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
Arcus HYPE-USD	−0.0948%	1h	92.530	−0.069%	$1.0M	$3.8M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0304%	1h	92.464	−0.140%	$194K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0184%	1h	92.406	−0.202%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.545	−0.053%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0066%	4h	92.571	−0.024%	$157K	$664K	20x	as long as short
01 Exchange HYPEUSD	−0.0056%	1h	92.645	+0.055%	$87K	$356K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0001%	1h	92.480	−0.123%	$696K	$1.1M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.615	+0.024%	$127K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.612	+0.020%	$22K	$309K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.611	+0.019%	$62K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet HYPE-USD	+0.0005%	1h	92.607	+0.015%	$111K	$580K	20x	as long as short
Aster HYPEUSDT	+0.0018%	4h	92.667	+0.079%	$8.7M	$36.3M	300x	as long as short
BingX HYPE-USDT	+0.0036%	4h	92.690	+0.104%	—	$53.4M	—	as long as short
Phemex HYPEUSDT	+0.0040%	8h	92.580	−0.015%	$12.5M	$2.7M	50x	as long as short
Phoenix HYPE	+0.0043%	1h	92.278	−0.341%	$209K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0054%	8h	92.673	+0.086%	$316.7M	$281.9M	75x	as long as short
Gate HYPE_USDT	+0.0070%	4h	92.683	+0.097%	$44.5M	$55.1M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0082%	8h	92.709	+0.125%	$113.5M	$304.4M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0093%	8h	92.654	+0.065%	$339K	$163K	20x	as long as short
MEXC HYPE_USDT	+0.0094%	4h	92.684	+0.098%	$87.5M	$80.7M	100x	as long as short
Lighter HYPE	+0.0096%	1h	92.615	+0.023%	$16.0M	$62.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.621	+0.030%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.605	+0.012%	$69K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.570	−0.026%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.612	+0.020%	$6.8M	$44.2M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.652	+0.063%	$2.02B	$665.8M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.648	+0.059%	$10.0M	$15.0M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.680	+0.093%	$371.6M	$903.3M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.298	−0.319%	$201K	$13K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.640	+0.050%	$46.0M	$18.3M	75x	as long as short
Bitget HYPEUSDTshort	+0.0100%	4h	92.733	+0.151%	$224.9M	$98.4M	75x
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.626	+0.035%	$7.3M	$10.8M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.569	−0.027%	$28.5M	$57.6M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.290	−0.328%	$7.5M	$46.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.436	−0.170%	$338K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.553	−0.044%	$663K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.634	+0.044%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.621	+0.030%	$472K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.585	−0.009%	$78K	$170K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.577	−0.018%	$16.0M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.586	−0.008%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.615	+0.023%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.700	+0.115%	$1.4M	$6.2M	75x	as long as short
edgeX HYPEUSDC	+0.0103%	4h	92.227	−0.395%	$4.9M	$29.6M	30x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.648	+0.059%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERPlong	+0.0104%	1h	92.594	long leg	$391K	$164K	20x
Injective HYPE/USDC PERP	+0.0150%	1h	93.000	+0.439%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.680	+0.093%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0248%	8h	92.705	+0.120%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0261%	1h	92.597	+0.003%	$79K	$137K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0154%	1h	92.609	+0.016%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0332%	1h	92.665	+0.077%	$20.6M	$30.5M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.607	+0.014%	$16.7M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0430%	1h	92.693	+0.107%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.676	+0.089%	$3.1M	$6.4M	20x	as long as short