Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h 0.000%

Price spread now: SunX against Aevo+0.091%7-day average +0.059% · you sell dearer than you buy

Net, funding: paid 7d − costs−$85as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$850.847% of the position

Long on Aevo Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.005%$0 on $10k

Price spread, last 3 days (all we have)−0.017%−$2 · spread now +0.091%, 7d avg +0.059%

Together, before fees−0.021%−$2 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: SunX is 0.032% dearer against Aevo than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.059%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo HYPE-PERP	94.006	0.0096	pay 0.0012% / 1h	13m 05s	$400K	$180K	20x
Short	SunX HYPE-USDT	94.092	0.0100	get 0.0050% / 4h	3h 13m	$32K	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.091%Rate

Funding earned: $0.84
Price spread: +0.091% → +0.059%: $3.18
Slippage, 4 orders: −$60.75
Fee Aevo: 8 bp × 2 orders: −$16
Fee SunX: 4 bp × 2 orders: −$8
Net: −$80.73
Costs to cover: 0.847%
Break-even: 679.8 days

Slippage from Aevo: live order book, 61 min ago; SunX: live order book, 12 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, 61 min ago	2.31 bp	12.0 bp −$12	16.4 bp −$164	20.8 bp −$2,076	doesn't fit
Sell SunX live order book, 12 min ago	19.32 bp	32.5 bp −$33	doesn't fit	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	−0.1240%	1h	93.973	−0.035%	$199K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0625%	1h	93.916	−0.096%	$1.2M	$3.9M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0214%	1h	93.951	−0.059%	$22K	$21K	10x	as long as short
Phemex HYPEUSDT	−0.0133%	8h	94.011	+0.005%	$12.8M	$2.6M	50x	as long as short
Ondo Perps HYPE-USD.P	−0.0116%	1h	93.980	−0.028%	$708K	$961K	10x	as long as short
dYdX HYPE-USD	−0.0097%	1h	94.086	+0.085%	$129K	$31K	5x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	94.021	+0.016%	$85K	$360K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.024	+0.019%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0067%	1h	94.002	−0.005%	$113K	$581K	20x	as long as short
Gate HYPE_USDT	−0.0048%	4h	94.015	+0.009%	$44.5M	$60.3M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_HYPE_USDC	−0.0027%	4h	93.989	−0.018%	$160K	$645K	20x	as long as short
Bybit HYPEUSDT	−0.0013%	8h	93.985	−0.023%	$323.5M	$280.3M	75x	as long as short
Perpl HYPE	0.0000%	43m	93.995	−0.012%	$23K	$327K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	94.023	+0.018%	$27K	—	150x	as long as short
Aster HYPEUSDT	+0.0013%	4h	94.082	+0.081%	$8.9M	$36.1M	300x	as long as short
Derive HYPE-PERP	+0.0017%	1h	93.964	−0.046%	$16.4M	$7.3M	10x	as long as short
Phoenix HYPE	+0.0034%	1h	93.678	−0.349%	$218K	$1.2M	10x	as long as short
MEXC HYPE_USDT	+0.0050%	4h	94.005	−0.001%	$88.6M	$83.3M	100x	as long as short
Binance HYPEUSDT	+0.0051%	4h	93.993	−0.014%	$383.7M	$895.0M	75x	as long as short
edgeX HYPEUSDC	+0.0058%	4h	93.999	−0.008%	$5.1M	$30.1M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0075%	8h	93.976	−0.032%	$116.2M	$316.0M	50x	as long as short
Lighter HYPE	+0.0096%	1h	94.034	+0.029%	$19.0M	$60.3M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.012	+0.006%	$3.0M	$12.2M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.002	−0.005%	$65K	$1.2M	50x	as long as short
Aevo HYPE-PERPlong	+0.0096%	1h	94.006	long leg	$400K	$180K	20x
Paradex HYPE-USD-PERP	+0.0099%	8h	94.066	+0.064%	$342K	$165K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.980	−0.028%	$29K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.025	+0.020%	$6.6M	$44.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.048	+0.045%	$2.05B	$676.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.043	+0.039%	$10.2M	$14.6M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.528	−0.508%	$204K	$12K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.010	+0.004%	$46.7M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.973	−0.035%	$227.6M	$101.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.973	−0.035%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.992	−0.015%	$7.7M	$10.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.810	−0.208%	$31.4M	$54.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.085	+0.084%	$7.6M	$46.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.061	+0.058%	$340K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.100	+0.100%	$672K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.048	+0.044%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.027	+0.022%	$475K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.984	−0.024%	$76K	$170K	20x	as long as short
SunX HYPE-USDTshort	+0.0100%	4h	94.092	+0.091%	$32K	$1.6M	20x
SoDEX HYPE-USD	+0.0100%	1h	94.004	−0.002%	$2.0M	$2.0M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.002	−0.005%	$18.4M	$45.4M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	94.130	+0.132%	$4.9M	$5.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	93.930	−0.081%	$31K	$338K	12x	as long as short
BloFin HYPE-USDT	+0.0205%	4h	94.015	+0.009%	$17.0M	$12.1M	75x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	94.035	+0.031%	$2.7M	$6.8M	20x	as long as short
Kalshi KXHYPEPERP	+0.0232%	8h	94.151	+0.154%	$1.9M	$5.1M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0252%	1h	93.994	−0.013%	$79K	$143K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0335% / S −0.0158%	1h	94.012	+0.006%	$1.4M	—	100x	as long as short
HTX HYPE-USDT	+0.0377%	4h	94.230	+0.238%	$1.5M	$6.0M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0494%	1h	94.109	+0.109%	$7.5M	$4.7M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0671%	1h	94.086	+0.084%	$21.0M	$29.8M	50x	as long as short