Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.040%

Price spread now: HTX against Aevo+0.108%7-day average +0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs−$106as in the Funding arb table

Net, price: spread back to 7d avg − costs−$103as in the Price arb table

costs, in and out, $10k−$1091.090% of the position

Long on Aevo Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.034%+$3 on $10k

Price spread, last 4 days (all we have)−0.134%−$13 · spread now +0.108%, 7d avg +0.050%

Together, before fees−0.100%−$10 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: HTX is 0.058% dearer against Aevo than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo HYPE-PERP	94.751	0.0104	pay 0.0013% / 1h	57m 00s	$401K	$153K	20x
Short	HTX HYPE-USDT	94.853	0.0100	get 0.0050% / 4h	3h 57m	$1.4M	$6.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.108%Rate

Funding earned: −$0.84
Price spread: +0.108% → +0.050%: $5.77
Slippage, 4 orders: −$81
Fee Aevo: 8 bp × 2 orders: −$16
Fee HTX: 6 bp × 2 orders: −$12
Net: −$104.07
Costs to cover: 1.090%
Break-even: never at this rate

Slippage from Aevo: live order book, 42 min ago; HTX: live order book, 2 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, 42 min ago	35.01 bp	43.2 bp −$43	43.2 bp −$432	doesn't fit	doesn't fit
Sell HTX live order book, 2 min ago	2.32 bp	8.9 bp −$9	14.4 bp −$144	45.5 bp −$4,554	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	−0.1472%	1h	94.558	−0.204%	$207K	$268K	7x	as long as short
Bluefin HYPE-PERP	−0.0292%	1h	94.697	−0.057%	$80K	$151K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0253%	1h	94.600	−0.160%	$22K	$20K	10x	as long as short
Arcus HYPE-USD	−0.0112%	1h	94.697	−0.057%	$1.0M	$3.5M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0085%	1h	94.610	−0.149%	$712K	$1.2M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.668	−0.087%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0072%	1h	94.763	+0.013%	$87K	$364K	20x	as long as short
Kraken Futures PF_HYPEUSD	−0.0047%	1h	94.772	+0.022%	$20.3M	$30.3M	50x	as long as short
Phemex HYPEUSDT	−0.0046%	8h	94.697	−0.057%	$12.9M	$2.9M	50x	as long as short
Orderly PERP_HYPE_USDC	−0.0006%	4h	94.696	−0.058%	$147K	$686K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX HYPE-USD	0.0000%	1h	94.666	−0.090%	$130K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.848	+0.103%	$1.9M	$5.5M	2.3x	as long as short
Phoenix HYPE	0.0000%	1h	94.723	−0.029%	$210K	$1.2M	10x	as long as short
Perpl HYPE	0.0000%	43m	94.719	−0.033%	$19K	$285K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.747	−0.004%	$124K	—	150x	as long as short
Bitget HYPEUSDT	+0.0014%	4h	94.730	−0.022%	$227.3M	$100.5M	75x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0016%	1h	94.700	−0.054%	$4.7M	$6.2M	50x	as long as short
Derive HYPE-PERP	+0.0022%	1h	94.691	−0.063%	$16.4M	$7.4M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0048%	8h	94.710	−0.043%	$338K	$154K	20x	as long as short
Bullet HYPE-USD	+0.0062%	1h	94.734	−0.018%	$112K	$575K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0064%	8h	94.737	−0.015%	$118.0M	$327.3M	50x	as long as short
Lighter HYPE	+0.0072%	1h	94.729	−0.023%	$16.3M	$61.7M	20x	as long as short
Vest HYPE-PERP	+0.0076%	1h	94.792	+0.044%	—	$190K	5x	as long as short
Bybit HYPEUSDT	+0.0085%	8h	94.740	−0.011%	$318.3M	$288.8M	75x	as long as short
edgeX HYPEUSDC	+0.0092%	4h	94.580	−0.181%	$5.0M	$30.6M	30x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.719	−0.034%	$3.2M	$10.2M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.740	−0.011%	$121K	$1.2M	50x	as long as short
Gate HYPE_USDT	+0.0096%	4h	94.706	−0.047%	$50.8M	$53.6M	75x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.700	−0.054%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.698	−0.055%	$7.3M	$53.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.823	+0.076%	$2.08B	$690.2M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.692	−0.062%	$8.9M	$37.3M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.713	−0.040%	$10.2M	$14.8M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.750	0.000%	$380.0M	$934.4M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.685	−0.070%	$219K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.744	−0.007%	$93.6M	$84.5M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.723	−0.029%	$46.9M	$18.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.724	−0.028%	—	$53.1M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.701	−0.053%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.532	−0.231%	$29.7M	$55.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.625	−0.133%	$7.6M	$44.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.574	−0.187%	$351K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.684	−0.071%	$696K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.799	+0.051%	$500K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.831	+0.085%	$33K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.730	−0.022%	$2.1M	$1.9M	10x	as long as short
HTX HYPE-USDTshort	+0.0100%	4h	94.853	+0.108%	$1.4M	$6.9M	75x
Extended HYPE-USD	+0.0104%	1h	94.720	−0.032%	$18.4M	$43.1M	50x	as long as short
Aevo HYPE-PERPlong	+0.0104%	1h	94.751	long leg	$401K	$153K	20x
RISEx HYPE/USDC	+0.0133%	1h	94.762	+0.012%	$3.2M	$6.4M	20x	as long as short
Injective HYPE/USDC PERP	+0.0153%	1h	94.840	+0.094%	$31K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.673	−0.082%	$83K	$120K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0288%	1h	94.820	+0.073%	$7.5M	$4.4M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0327% / S −0.0152%	1h	94.769	+0.019%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.728	−0.024%	$15.8M	$12.4M	75x	as long as short