Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0012%/8h= +1.3% APRpaid last 24h −0.006%

Price spread now: edgeX against Aevo+0.157%7-day average −0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$400.398% of the position

Long on Aevo Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.009%−$1 on $10k

Price spread, last 4 days (all we have)+0.140%+$14 · spread now +0.157%, 7d avg −0.003%

Together, before fees+0.132%+ Points / potential airdropedgeX: Active · farm board+$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and edgeX is 0.160% dearer against Aevo than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of −0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo HYPE-PERP	93.330	0.0104	pay 0.0013% / 1h	41m 06s	$397K	$163K	20x
Short	edgeX HYPEUSDC	93.476	0.0116	get 0.0058% / 4h	1h 41m	$5.1M	$29.6M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.157%Rate

Funding earned: $2.51
Price spread: +0.157% → −0.003%: $16.02
Slippage, 4 orders: −$14.75
Fee Aevo: 8 bp × 2 orders: −$16
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$21.22
Costs to cover: 0.398%
Break-even: 66.2 days

Slippage from Aevo: live order book, 23 min ago; edgeX: 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, 23 min ago	3.81 bp	15.6 bp −$16	17.5 bp −$175	19.9 bp −$1,986	doesn't fit
Sell edgeX live order book, 3 min ago	0.43 bp	4.9 bp −$5	5.6 bp −$56	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
Hibachi HYPE/USDT-P	−0.1264%	1h	93.481	+0.162%	$196K	$226K	7x	as long as short
Arcus HYPE-USD	−0.0899%	1h	93.238	−0.098%	$1.2M	$3.8M	10x	as long as short
Bluefin HYPE-PERP	−0.0190%	1h	93.301	−0.031%	$79K	$170K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.410	+0.086%	$3K	$331	25x	as long as short
Phemex HYPEUSDT	−0.0067%	8h	93.304	−0.027%	$12.6M	$2.7M	50x	as long as short
Orderly PERP_HYPE_USDC	−0.0046%	4h	93.317	−0.014%	$156K	$629K	20x	as long as short
01 Exchange HYPEUSD	−0.0040%	1h	93.337	+0.008%	$85K	$345K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0035%	1h	93.438	+0.116%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0030%	1h	93.280	−0.053%	$700K	$980K	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.361	+0.033%	$128K	$31K	5x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	93.346	+0.018%	$23K	$322K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.366	+0.039%	$62K	—	150x	as long as short
Aster HYPEUSDT	+0.0024%	4h	93.347	+0.019%	$8.8M	$35.6M	300x	as long as short
Phoenix HYPE	+0.0026%	1h	93.549	+0.235%	$213K	$1.2M	10x	as long as short
BingX HYPE-USDT	+0.0026%	4h	93.349	+0.021%	—	$53.0M	—	as long as short
Bullet HYPE-USD	+0.0028%	1h	93.344	+0.016%	$111K	$578K	20x	as long as short
Bybit HYPEUSDT	+0.0034%	8h	93.357	+0.029%	$321.9M	$277.0M	75x	as long as short
Gate HYPE_USDT	+0.0050%	4h	93.339	+0.010%	$44.5M	$54.7M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0078%	8h	93.360	+0.033%	$114.2M	$302.1M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.336	+0.007%	$16.3M	$61.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.349	+0.021%	$3.1M	$11.5M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.325	−0.005%	$69K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.372	+0.046%	$339K	$162K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.370	+0.043%	$17K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.320	−0.011%	$5.8M	$43.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.423	+0.100%	$2.04B	$655.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.375	+0.049%	$10.0M	$14.6M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.368	+0.041%	$378.9M	$877.2M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.580	+0.268%	$204K	$10K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.330	0.000%	$89.7M	$80.6M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.344	+0.015%	$45.9M	$18.1M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.367	+0.040%	$225.8M	$96.8M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.319	−0.011%	$7.4M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.317	−0.014%	$31.1M	$53.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.553	+0.239%	$7.6M	$45.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.487	+0.169%	$340K	$999K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.585	+0.274%	$668K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.433	+0.111%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.365	+0.038%	$472K	$2.5M	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.329	0.000%	$16.2M	$7.6M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.418	+0.095%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.303	−0.029%	$2.0M	$1.9M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.280	−0.053%	$18.4M	$43.7M	50x	as long as short
Aevo HYPE-PERPlong	+0.0104%	1h	93.330	long leg	$397K	$163K	20x
edgeX HYPEUSDCshort	+0.0116%	4h	93.476	+0.157%	$5.1M	$29.6M	30x
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.370	+0.043%	$4.9M	$5.4M	50x	as long as short
HTX HYPE-USDT	+0.0200%	4h	93.500	+0.183%	$1.4M	$6.0M	75x	as long as short
Reya HYPERUSDPERP	+0.0257%	1h	93.319	−0.011%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0279%	8h	93.417	+0.094%	$1.9M	$5.1M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0156%	1h	93.367	+0.040%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.300	−0.032%	$16.9M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0350%	1h	93.403	+0.079%	$7.4M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0510%	1h	93.422	+0.099%	$3.2M	$6.5M	20x	as long as short
Injective HYPE/USDC PERP	+0.0519%	1h	93.200	−0.139%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0685%	1h	93.379	+0.053%	$20.7M	$30.1M	50x	as long as short