Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:29 UTC−0.0096%/8h= −10.5% APRpaid last 24h −0.020%

Price spread now: Perpl against Aevo−0.004%7-day average −0.002% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Aevo Short on Perpl

What this pair did over the last

the charts below follow

Funding, last 7 days−0.160%−$16 on $10k

Price spread, last 3 days (all we have)+0.043%+$4 · spread now −0.004%, 7d avg −0.002%

Together, before fees−0.117%+ Points / potential airdropPerpl: Active · farm board−$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.002%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo HYPE-PERP	93.646	0.0096	pay 0.0012% / 1h	30m 13s	$398K	$318K	20x
Short	Perpl HYPE	93.642	0	get 0.0000% / 43m	26m 13s	$23K	$329K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Perpl 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 PerplbpOrdersPrice spread, now −0.004%Rate

Funding earned: −$20.16
Price spread: −0.004% → −0.002%: −$0.17
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Net: −$50.13
Costs to cover: 0.298%
Break-even: never at this rate

Slippage unknown: Aevo: live order book, 49 min ago; Perpl: no order-book sample. Net counts fees only.

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, 49 min ago	6.91 bp	17.9 bp −$18	21.8 bp −$218	25.5 bp −$2,545	doesn't fit
Sell Perpl no order-book sample	—	—	—	—	—

Perpl: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0808%	1h	93.632	−0.014%	$198K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0353%	1h	93.847	+0.215%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	93.532	−0.121%	$1.2M	$3.8M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.600	−0.049%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0060%	1h	93.570	−0.081%	$703K	$910K	10x	as long as short
01 Exchange HYPEUSD	−0.0032%	1h	93.619	−0.028%	$87K	$365K	20x	as long as short
Derive HYPE-PERP	−0.0017%	1h	93.575	−0.075%	$16.4M	$7.1M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.583	−0.067%	$127K	$30K	5x	as long as short
Perpl HYPEshort	0.0000%	43m	93.642	−0.004%	$23K	$329K	10x
Orderly PERP_HYPE_USDC	+0.0002%	4h	93.628	−0.019%	$166K	$583K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.670	+0.026%	$26K	—	150x	as long as short
Phoenix HYPE	+0.0009%	1h	93.755	+0.117%	$215K	$1.2M	10x	as long as short
Aster HYPEUSDT	+0.0015%	4h	93.627	−0.020%	$8.9M	$36.0M	300x	as long as short
Bybit HYPEUSDT	+0.0019%	8h	93.611	−0.037%	$321.6M	$283.4M	75x	as long as short
Binance HYPEUSDT	+0.0057%	4h	93.634	−0.012%	$383.1M	$895.2M	75x	as long as short
MEXC HYPE_USDT	+0.0058%	4h	93.657	+0.012%	$87.3M	$81.7M	100x	as long as short
Phemex HYPEUSDT	+0.0072%	8h	93.665	+0.021%	$12.8M	$2.6M	50x	as long as short
edgeX HYPEUSDC	+0.0080%	4h	93.817	+0.183%	$5.1M	$29.9M	30x	as long as short
Gate HYPE_USDT	+0.0082%	4h	93.623	−0.024%	$44.5M	$59.1M	75x	as long as short
Lighter HYPE	+0.0096%	1h	93.676	+0.032%	$18.8M	$60.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.644	−0.002%	$3.0M	$12.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.641	−0.005%	$63K	$1.2M	50x	as long as short
Aevo HYPE-PERPlong	+0.0096%	1h	93.646	long leg	$398K	$318K	20x
Paradex HYPE-USD-PERP	+0.0099%	8h	93.621	−0.026%	$340K	$171K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.600	−0.049%	$43K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.569	−0.081%	$5.7M	$44.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.618	−0.029%	$10.1M	$14.5M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.624	−0.023%	$115.3M	$320.1M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.625	−0.022%	$204K	$7K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.639	−0.007%	$46.5M	$18.5M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.648	+0.003%	$226.8M	$102.7M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.645	−0.001%	—	$54.1M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.607	−0.041%	$7.8M	$10.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.564	−0.087%	$31.2M	$53.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.786	+0.150%	$7.6M	$45.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.819	+0.185%	$341K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.752	+0.114%	$678K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.665	+0.021%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.664	+0.020%	$490K	$2.5M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	93.617	−0.030%	$111K	$578K	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.627	−0.020%	$76K	$170K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.654	+0.009%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.624	−0.023%	$2.0M	$2.0M	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.410	+0.816%	$31K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.620	−0.028%	$18.3M	$42.8M	50x	as long as short
Kalshi KXHYPEPERP	+0.0130%	8h	93.708	+0.067%	$1.9M	$5.0M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	93.690	+0.047%	$4.9M	$5.7M	50x	as long as short
HTX HYPE-USDT	+0.0217%	4h	93.768	+0.131%	$1.5M	$7.8M	75x	as long as short
BloFin HYPE-USDT	+0.0237%	4h	93.601	−0.048%	$17.0M	$12.6M	75x	as long as short
Reya HYPERUSDPERP	+0.0249%	1h	93.643	−0.003%	$77K	$142K	15x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	93.676	+0.032%	$2.8M	$6.9M	20x	as long as short
Hyperliquid HYPE	+0.0287%	1h	93.689	+0.046%	$2.03B	$676.0M	10x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0337% / S −0.0163%	1h	93.664	+0.019%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0412%	1h	93.743	+0.104%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0579%	1h	93.707	+0.065%	$20.9M	$29.4M	50x	as long as short