Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0407%/8h= +44.6% APRpaid last 24h −0.013%

Price spread now: edgeX against Aftermath Perps+0.068%68s7-day average — · you sell dearer than you buy

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

Long on Aftermath Perps Short on edgeX

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 airdropedgeX: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and edgeX is 0.068% dearer against Aftermath Perps than usual: you sell high and buy low: +$7 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 68 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aftermath Perps HYPEUSD	93.181	−0.0295	get 0.0037% / 1h	53m 53s	$22K	$22K	10x
Short	edgeX HYPEUSDC	93.244	0.0112	get 0.0056% / 4h	1h 53m	$5.1M	$29.3M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.068%Rate

Funding earned: $85.56
Price spread: +0.068% → 0.000%: $6.78
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $74.34
Costs to cover: 0.180%
Break-even: 0.9 days

Slippage unknown: Aftermath Perps: no order-book sample; edgeX: live order book, 5 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 edgeX live order book, 5 min ago	0.27 bp	4.8 bp −$5	5.0 bp −$50	153.4 bp −$15.3K	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	−0.0295%	1h	93.181	long leg	$22K	$22K	10x
Arcus HYPE-USD	−0.0131%	1h	93.200	+0.020%	$1.2M	$4.0M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.244	+0.068%	$3K	$331	25x	as long as short
Hibachi HYPE/USDT-P	−0.0032%	1h	93.219	+0.041%	$197K	$231K	7x	as long as short
Derive HYPE-PERP	−0.0017%	1h	93.081	−0.107%	$16.3M	$7.1M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.284	+0.111%	$127K	$32K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.186	+0.005%	$1.9M	$5.3M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.197	+0.017%	$23K	$331K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.173	−0.009%	$20K	—	150x	as long as short
01 Exchange HYPEUSD	+0.0008%	1h	93.238	+0.061%	$90K	$361K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0008%	4h	93.105	−0.081%	$8.9M	$35.9M	300x	as long as short
Bybit HYPEUSDT	+0.0031%	8h	93.079	−0.109%	$324.0M	$286.6M	75x	as long as short
Orderly PERP_HYPE_USDC	+0.0045%	4h	93.160	−0.022%	$165K	$515K	20x	as long as short
Popdex HYPEUSDT	+0.0048%	1h	93.214	+0.035%	$56K	$1.2M	50x	as long as short
Gate HYPE_USDT	+0.0048%	4h	93.089	−0.099%	$44.0M	$56.7M	75x	as long as short
Phoenix HYPE	+0.0068%	1h	93.222	+0.044%	$216K	$1.2M	10x	as long as short
Ondo Perps HYPE-USD.P	+0.0088%	1h	93.170	−0.012%	$699K	$932K	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.133	−0.052%	$18.5M	$58.3M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.123	−0.062%	$3.0M	$12.0M	20x	as long as short
ApeX Omni HYPEUSDT	+0.0096%	1h	93.051	−0.139%	$404K	$1.0M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.241	+0.064%	$339K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.210	+0.031%	$40K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.213	+0.034%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.130	−0.055%	$2.03B	$667.9M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.242	+0.066%	$10.0M	$14.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.081	−0.107%	$383.8M	$891.7M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.058	−0.132%	$114.3M	$314.4M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.271	+0.097%	$204K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.104	−0.083%	$91.2M	$81.2M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.093	−0.094%	$47.0M	$19.0M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.082	−0.106%	$225.8M	$102.8M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.080	−0.108%	—	$54.1M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.104	−0.083%	$7.8M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.107	−0.079%	$29.0M	$50.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.072	−0.117%	$7.5M	$44.8M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.256	+0.081%	$674K	$2.5M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.254	+0.078%	$493K	$2.6M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	93.149	−0.034%	$112K	$580K	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.129	−0.056%	$76K	$167K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.170	−0.012%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.101	−0.086%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.130	−0.055%	$12.7M	$2.6M	50x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.221	+0.043%	—	$454K	5x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.088	−0.100%	$18.3M	$41.9M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.151	−0.032%	$396K	$318K	20x	as long as short
edgeX HYPEUSDCshort	+0.0112%	4h	93.244	+0.068%	$5.1M	$29.3M	30x
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.260	+0.085%	$4.9M	$5.7M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0201%	1h	93.225	+0.047%	$7.4M	$4.6M	50x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	93.910	+0.782%	$31K	$338K	12x	as long as short
Reya HYPERUSDPERP	+0.0246%	1h	93.183	+0.002%	$78K	$158K	15x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.287	+0.113%	$2.8M	$6.8M	20x	as long as short
HTX HYPE-USDT	+0.0300%	4h	93.300	+0.128%	$1.5M	$7.6M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0158%	1h	93.177	−0.004%	$1.5M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.216	+0.038%	$17.0M	$12.5M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0466%	1h	93.223	+0.045%	$20.8M	$28.3M	50x	as long as short