Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0088%/8h= −9.7% APRpaid last 24h −0.012%

Price spread now: Aster against ApeX Omni−0.009%7-day average −0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$290.293% of the position

Long on ApeX Omni Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.041%−$4 on $10k

Price spread, last 3 days (all we have)−0.187%−$19 · spread now −0.009%, 7d avg −0.013%

Together, before fees−0.227%+ Points / potential airdropAster: Stage 5 · farm board−$23 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.013%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni HYPEUSDT	93.381	0.0100	pay 0.0013% / 1h	39m 30s	$405K	$1.0M	50x
Short	Aster HYPEUSDT	93.373	0.0012	get 0.0006% / 4h	2h 39m	$8.9M	$35.9M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against ApeX Omni. 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 ApeX OmnibpFee AsterbpOrdersPrice spread, now −0.009%Rate

Funding earned: −$18.56
Price spread: −0.009% → −0.013%: $0.42
Slippage, 4 orders: −$11.33
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$47.46
Costs to cover: 0.293%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 5 min ago; Aster: live order book, 5 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 ApeX Omni live order book, 5 min ago	3.11 bp	9.3 bp −$9	13.8 bp −$138	doesn't fit	doesn't fit
Sell Aster live order book, 5 min ago	0.38 bp	5.3 bp −$5	5.8 bp −$58	13.4 bp −$1,336	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	−0.1160%	1h	93.364	−0.018%	$197K	$233K	7x	as long as short
Ondo Perps HYPE-USD.P	−0.0257%	1h	93.330	−0.055%	$700K	$943K	10x	as long as short
Aftermath Perps HYPEUSD	−0.0227%	1h	93.388	+0.007%	$22K	$22K	10x	as long as short
01 Exchange HYPEUSD	−0.0088%	1h	93.345	−0.039%	$89K	$345K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.419	+0.041%	$3K	$331	25x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.398	+0.018%	$127K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.366	−0.016%	$23K	$337K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.366	−0.016%	$20K	—	150x	as long as short
Derive HYPE-PERP	+0.0003%	1h	93.363	−0.019%	$16.4M	$7.1M	10x	as long as short
Gate HYPE_USDT	+0.0008%	4h	93.346	−0.037%	$44.0M	$56.5M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet HYPE-USD	+0.0008%	1h	93.329	−0.055%	$112K	$583K	20x	as long as short
Aster HYPEUSDTshort	+0.0012%	4h	93.373	−0.009%	$8.9M	$35.9M	300x
Bybit HYPEUSDT	+0.0035%	8h	93.322	−0.063%	$325.1M	$287.9M	75x	as long as short
Phoenix HYPE	+0.0068%	1h	93.527	+0.156%	$216K	$1.2M	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0073%	4h	93.412	+0.033%	$180K	$529K	20x	as long as short
Popdex HYPEUSDT	+0.0080%	1h	93.319	−0.066%	$56K	$1.2M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.392	+0.012%	$18.5M	$59.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.387	+0.006%	$3.1M	$12.3M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0100%	8h	93.364	−0.018%	$339K	$171K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.370	−0.012%	$40K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.325	−0.061%	$6.0M	$44.2M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.408	+0.029%	$2.03B	$667.0M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.359	−0.023%	$10.0M	$14.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.325	−0.060%	$385.2M	$888.4M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.320	−0.065%	$114.7M	$315.0M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.308	−0.078%	$1.2M	$4.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.403	+0.023%	$204K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.325	−0.060%	$92.7M	$82.0M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.347	−0.036%	$46.3M	$19.0M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.352	−0.031%	$226.7M	$102.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.321	−0.064%	—	$54.2M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.442	+0.065%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.375	−0.006%	$28.9M	$49.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.408	+0.029%	$7.5M	$44.9M	10x	as long as short
ApeX Omni HYPEUSDTlong	+0.0100%	1h	93.381	long leg	$405K	$1.0M	50x
StandX HYPE-USD	+0.0100%	1h	93.453	+0.077%	$676K	$2.4M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.391	+0.010%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.361	−0.021%	$493K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.410	+0.031%	$76K	$169K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.447	+0.071%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.389	+0.009%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.397	+0.017%	$12.7M	$2.6M	50x	as long as short
Kalshi KXHYPEPERP	+0.0103%	8h	93.527	+0.156%	$1.9M	$5.4M	2.3x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.298	−0.089%	$18.4M	$41.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.371	−0.011%	$397K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0109%	4h	93.377	−0.004%	$5.1M	$29.5M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.510	+0.138%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0245%	1h	93.325	−0.060%	$78K	$158K	15x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.270	−0.119%	$30K	$231K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0296%	1h	93.507	+0.135%	$7.4M	$4.6M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0164%	1h	93.453	+0.077%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.348	−0.035%	$17.1M	$12.5M	75x	as long as short
HTX HYPE-USDT	+0.0353%	4h	93.575	+0.208%	$1.5M	$7.6M	75x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.389	+0.009%	$2.8M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0573%	1h	93.490	+0.116%	$19.2M	$25.9M	50x	as long as short