Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0305%/8h= +33.4% APRpaid last 24h +0.035%

Price spread now: MEXC against Aftermath Perps−0.178%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 MEXC

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—needs both histories

Funding pays, the price is against you. MEXC is 0.178% cheaper against Aftermath Perps than usual: you would sell low and buy high (spread −0.178% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$18 on $10k: about 47 hours of funding at the current rate (+$9 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aftermath Perps HYPEUSD	93.604	−0.0205	get 0.0026% / 1h	38m 55s	$22K	$21K	10x
Short	MEXC HYPE_USDT	93.438	0.0100	get 0.0050% / 4h	1h 38m	$89.4M	$83.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.178%Rate

Funding earned: $63.96
Price spread: −0.178% → 0.000%: −$17.76
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee MEXC: 2 bp × 2 orders: −$4
Net: $33.2
Costs to cover: 0.130%
Break-even: 3.4 days

Slippage unknown: Aftermath Perps: no order-book sample; MEXC: 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 MEXC live order book, 5 min ago	0.05 bp	2.1 bp −$2	4.8 bp −$48	10.6 bp −$1,061	29.2 bp −$14.6K

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	−0.1064%	1h	93.455	−0.159%	$198K	$241K	7x	as long as short
Aftermath Perps HYPEUSDlong	−0.0205%	1h	93.604	long leg	$22K	$21K	10x
Ondo Perps HYPE-USD.P	−0.0111%	1h	93.420	−0.197%	$704K	$1.2M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.445	−0.170%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0068%	1h	93.470	−0.143%	$111K	$580K	20x	as long as short
01 Exchange HYPEUSD	−0.0056%	1h	93.476	−0.137%	$86K	$369K	20x	as long as short
Bluefin HYPE-PERP	−0.0027%	1h	93.481	−0.132%	$79K	$155K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0021%	4h	93.453	−0.162%	$145K	$685K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.447	−0.168%	$128K	$28K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.526	−0.084%	$1.8M	$5.6M	2.3x	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	93.472	−0.141%	$20K	$289K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.507	−0.103%	$83K	—	150x	as long as short
Bybit HYPEUSDT	+0.0004%	8h	93.417	−0.200%	$315.2M	$288.3M	75x	as long as short
BingX HYPE-USDT	+0.0004%	4h	93.447	−0.168%	—	$53.8M	—	as long as short
Derive HYPE-PERP	+0.0010%	1h	93.422	−0.194%	$16.2M	$7.4M	10x	as long as short
Phoenix HYPE	+0.0017%	1h	93.512	−0.099%	$209K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0040%	4h	93.427	−0.189%	$225.0M	$99.7M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0077%	8h	93.471	−0.142%	$334K	$161K	20x	as long as short
Arcus HYPE-USD	+0.0084%	1h	93.425	−0.191%	$1.0M	$4.0M	10x	as long as short
Phemex HYPEUSDT	+0.0089%	8h	93.500	−0.111%	$12.8M	$2.8M	50x	as long as short
edgeX HYPEUSDC	+0.0095%	4h	93.515	−0.096%	$5.0M	$30.5M	30x	as long as short
Lighter HYPE	+0.0096%	1h	93.481	−0.132%	$16.1M	$63.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.483	−0.130%	$3.1M	$11.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.448	−0.167%	$78K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.450	−0.165%	$22K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.446	−0.169%	$7.4M	$51.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.563	−0.044%	$2.05B	$680.2M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.448	−0.167%	$8.8M	$37.2M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.468	−0.146%	$10.1M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.456	−0.158%	$374.6M	$930.2M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.419	−0.198%	$115.4M	$315.2M	50x	as long as short
Gate HYPE_USDT	+0.0100%	4h	93.452	−0.163%	$48.4M	$55.2M	75x	as long as short
MEXC HYPE_USDTshort	+0.0100%	4h	93.438	−0.178%	$89.4M	$83.8M	100x
KuCoin HYPEUSDTM	+0.0100%	4h	93.451	−0.164%	$46.3M	$18.7M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.476	−0.137%	$7.2M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.479	−0.134%	$28.6M	$56.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.540	−0.068%	$7.5M	$48.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.577	−0.029%	$347K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.534	−0.075%	$677K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.529	−0.080%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.500	−0.111%	$469K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.537	−0.072%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.473	−0.140%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.593	−0.012%	$1.4M	$6.7M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.507	−0.104%	$216K	$15K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.404	−0.214%	$18.2M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.468	−0.145%	$395K	$159K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	93.450	−0.165%	$4.7M	$6.1M	50x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	93.380	−0.240%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0271%	1h	93.474	−0.139%	$77K	$129K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0317%	1h	93.573	−0.033%	$7.4M	$4.2M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0154%	1h	93.504	−0.107%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.496	−0.116%	$17.0M	$12.2M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0416%	1h	93.572	−0.034%	$20.9M	$29.6M	50x	as long as short
RISEx HYPE/USDC	+0.0559%	1h	93.484	−0.128%	$3.2M	$6.4M	20x	as long as short