Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0281%/8h= +30.7% APRpaid last 24h −0.028%

Price spread now: Aster against Aftermath Perps−0.163%7-day average — · you buy dearer than you sell

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

Long on Aftermath Perps Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. Aster is 0.163% cheaper against Aftermath Perps than usual: you would sell low and buy high (spread −0.163% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$16 on $10k: about 46 hours of funding at the current rate (+$8 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aftermath Perps HYPEUSD	93.248	−0.0273	get 0.0034% / 1h	56m 57s	$22K	$22K	10x
Short	Aster HYPEUSDT	93.096	0.0008	get 0.0004% / 4h	1h 56m	$8.9M	$35.8M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Aftermath Perps. 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 Aftermath PerpsbpFee AsterbpOrdersPrice spread, now −0.163%Rate

Funding earned: $58.93
Price spread: −0.163% → 0.000%: −$16.29
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee Aster: 4 bp × 2 orders: −$8
Net: $25.63
Costs to cover: 0.170%
Break-even: 4.0 days

Slippage unknown: Aftermath Perps: no order-book sample; Aster: live order book, 2 min ago. 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 Aftermath Perps no order-book sample	—	—	—	—	—
Sell Aster live order book, 2 min ago	0.54 bp	4.6 bp −$5	5.5 bp −$55	12.5 bp −$1,254	doesn't fit

Aftermath Perps: 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
Aftermath Perps HYPEUSDlong	−0.0273%	1h	93.248	long leg	$22K	$22K	10x
Arcus HYPE-USD	−0.0131%	1h	93.044	−0.219%	$1.2M	$4.1M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.214	−0.036%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0049%	1h	93.030	−0.234%	$701K	$931K	10x	as long as short
Derive HYPE-PERP	−0.0033%	1h	92.996	−0.270%	$16.3M	$7.1M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0008%	1h	93.160	−0.095%	$197K	$231K	7x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.181	−0.072%	$127K	$32K	5x	as long as short
01 Exchange HYPEUSD	0.0000%	1h	93.033	−0.230%	$90K	$361K	20x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.137	−0.119%	$1.9M	$5.3M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.032	−0.231%	$23K	$334K	10x	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 −0.0001%	1h	93.081	−0.179%	$20K	—	150x	as long as short
Aster HYPEUSDTshort	+0.0008%	4h	93.096	−0.163%	$8.9M	$35.8M	300x
Popdex HYPEUSDT	+0.0016%	1h	92.989	−0.278%	$56K	$1.2M	50x	as long as short
Bybit HYPEUSDT	+0.0028%	8h	93.093	−0.166%	$324.1M	$286.7M	75x	as long as short
Gate HYPE_USDT	+0.0032%	4h	93.094	−0.165%	$44.0M	$56.6M	75x	as long as short
Orderly PERP_HYPE_USDC	+0.0047%	4h	93.072	−0.189%	$165K	$515K	20x	as long as short
Phoenix HYPE	+0.0068%	1h	93.222	−0.028%	$215K	$1.2M	10x	as long as short
Vest HYPE-PERP	+0.0087%	1h	93.085	−0.174%	—	$454K	5x	as long as short
Lighter HYPE	+0.0096%	1h	93.099	−0.160%	$18.5M	$58.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.080	−0.180%	$3.0M	$12.0M	20x	as long as short
Bullet HYPE-USD	+0.0098%	1h	93.021	−0.244%	$112K	$580K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.144	−0.112%	$338K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.080	−0.180%	$40K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.055	−0.206%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.128	−0.129%	$2.03B	$673.9M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.143	−0.113%	$10.0M	$14.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.111	−0.147%	$383.9M	$891.0M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.093	−0.166%	$114.4M	$314.5M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.271	+0.025%	$204K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.101	−0.158%	$91.2M	$81.2M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.101	−0.158%	$47.0M	$18.8M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.108	−0.150%	$226.0M	$102.8M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.096	−0.163%	—	$54.1M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.113	−0.145%	$7.8M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.252	+0.004%	$29.1M	$50.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.313	+0.069%	$7.5M	$44.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.276	+0.030%	$405K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.201	−0.050%	$674K	$2.5M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.070	−0.191%	$491K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.082	−0.178%	$76K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.161	−0.093%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.054	−0.208%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.081	−0.179%	$12.7M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.071	−0.190%	$18.3M	$41.8M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.060	−0.201%	$396K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0112%	4h	93.244	−0.004%	$5.1M	$29.3M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.070	−0.191%	$4.9M	$5.7M	50x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	93.070	−0.191%	$30K	$338K	12x	as long as short
Reya HYPERUSDPERP	+0.0246%	1h	93.048	−0.214%	$78K	$158K	15x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.136	−0.119%	$2.8M	$6.8M	20x	as long as short
HTX HYPE-USDT	+0.0300%	4h	93.289	+0.044%	$1.5M	$7.6M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0165%	1h	93.046	−0.216%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.053	−0.209%	$17.0M	$12.4M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0373%	1h	93.151	−0.104%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0466%	1h	93.204	−0.047%	$20.8M	$28.2M	50x	as long as short