Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0136%/8h= +14.9% APRpaid last 24h +0.018%

Price spread now: GRVT against Aftermath Perps−0.099%53s7-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 GRVT

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 airdropGRVT: Active · farm boardneeds both histories

Funding pays, the price is against you. GRVT is 0.099% cheaper against Aftermath Perps than usual: you would sell low and buy high (spread −0.099% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$10 on $10k: about 2.4 days of funding at the current rate (+$4 a day). The two prices were read 53 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	93.380	−0.0036	get 0.0004% / 1h	43m 30s	$22K	$21K	10x
Short	GRVT HYPE_USDT_Perp	93.288	0.0100	get 0.0050% / 4h	1h 43m	$7.5M	$45.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.099%Rate

Funding earned: $28.53
Price spread: −0.099% → 0.000%: −$9.86
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $0.68
Costs to cover: 0.180%
Break-even: 6.8 days

Slippage unknown: Aftermath Perps: no order-book sample; GRVT: live order book, 6 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 GRVT live order book, 6 min ago	0.05 bp	5.0 bp −$5	6.2 bp −$62	doesn't fit	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
Hibachi HYPE/USDT-P	−0.1240%	1h	93.378	−0.002%	$196K	$226K	7x	as long as short
Arcus HYPE-USD	−0.0899%	1h	93.355	−0.027%	$1.2M	$3.8M	10x	as long as short
Bluefin HYPE-PERP	−0.0176%	1h	93.441	+0.066%	$79K	$170K	20x	as long as short
Phemex HYPEUSDT	−0.0091%	8h	93.453	+0.078%	$12.6M	$2.7M	50x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.485	+0.113%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0046%	4h	93.479	+0.106%	$156K	$629K	20x	as long as short
01 Exchange HYPEUSD	−0.0040%	1h	93.500	+0.129%	$85K	$346K	20x	as long as short
Aftermath Perps HYPEUSDlong	−0.0036%	1h	93.380	long leg	$22K	$21K	10x
Ondo Perps HYPE-USD.P	−0.0009%	1h	93.360	−0.021%	$698K	$978K	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.446	+0.071%	$128K	$31K	5x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	93.526	+0.157%	$23K	$322K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.480	+0.107%	$62K	—	150x	as long as short
BingX HYPE-USDT	+0.0008%	4h	93.467	+0.093%	—	$53.0M	—	as long as short
Aster HYPEUSDT	+0.0021%	4h	93.509	+0.138%	$8.8M	$35.6M	300x	as long as short
Phoenix HYPE	+0.0026%	1h	93.549	+0.181%	$213K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0032%	8h	93.510	+0.139%	$322.8M	$276.8M	75x	as long as short
Gate HYPE_USDT	+0.0052%	4h	93.466	+0.092%	$44.6M	$54.6M	75x	as long as short
Bullet HYPE-USD	+0.0065%	1h	93.471	+0.098%	$111K	$577K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0078%	8h	93.497	+0.126%	$114.4M	$302.5M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.490	+0.118%	$16.3M	$61.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.462	+0.088%	$3.1M	$11.5M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.487	+0.115%	$68K	$1.2M	50x	as long as short
MEXC HYPE_USDT	+0.0096%	4h	93.456	+0.082%	$87.7M	$80.2M	100x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.514	+0.144%	$340K	$162K	20x	as long as short
Binance HYPEUSDT	+0.0097%	4h	93.511	+0.140%	$379.7M	$877.0M	75x	as long as short
edgeX HYPEUSDC	+0.0099%	4h	93.527	+0.157%	$5.1M	$30.0M	30x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.470	+0.097%	$19K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.475	+0.101%	$5.8M	$43.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.554	+0.187%	$2.04B	$655.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.473	+0.100%	$10.1M	$14.6M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.580	+0.214%	$204K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.490	+0.118%	$46.0M	$18.1M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.515	+0.145%	$226.2M	$96.7M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.419	+0.042%	$7.4M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.339	−0.044%	$31.1M	$54.0M	—	as long as short
GRVT HYPE_USDT_Perpshort	+0.0100%	4h	93.288	−0.099%	$7.5M	$45.6M	10x
ApeX Omni HYPEUSDT	+0.0100%	1h	93.588	+0.223%	$340K	$999K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.524	+0.154%	$667K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.547	+0.179%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.533	+0.164%	$472K	$2.5M	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.458	+0.084%	$16.2M	$7.6M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.563	+0.196%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.465	+0.091%	$2.0M	$1.9M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.450	+0.075%	$18.4M	$43.7M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.475	+0.102%	$398K	$163K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.600	+0.236%	$4.9M	$5.4M	50x	as long as short
HTX HYPE-USDT	+0.0203%	4h	93.600	+0.236%	$1.4M	$6.0M	75x	as long as short
Reya HYPERUSDPERP	+0.0257%	1h	93.505	+0.134%	$80K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0280%	8h	93.554	+0.187%	$1.9M	$5.1M	2.3x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0306%	1h	93.542	+0.174%	$7.5M	$4.4M	50x	as long as short
BloFin HYPE-USDT	+0.0330%	4h	93.572	+0.206%	$17.0M	$11.7M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0156%	1h	93.497	+0.125%	$1.4M	—	100x	as long as short
RISEx HYPE/USDC	+0.0510%	1h	93.580	+0.214%	$3.2M	$6.5M	20x	as long as short
Injective HYPE/USDC PERP	+0.0519%	1h	93.430	+0.054%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0684%	1h	93.500	+0.129%	$20.8M	$30.1M	50x	as long as short