Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0083%/8h= −9.0% APRpaid last 24h 0.000%

Price spread now: Aftermath Perps against Aster−0.021%7-day average — · you buy dearer than you sell

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

Long on Aster Short on Aftermath Perps

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

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Aftermath Perps is 0.021% cheaper against Aster than usual: you would sell low and buy high (−$2 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster HYPEUSDT	92.729	−0.0004	get 0.0002% / 4h	56m 15s	$8.7M	$36.2M	300x
Short	Aftermath Perps HYPEUSD	92.709	−0.0086	pay 0.0011% / 1h	56m 15s	$22K	$21K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps against Aster. 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 AsterbpFee Aftermath PerpsbpOrdersPrice spread, now −0.021%Rate

Funding earned: −$17.34
Price spread: −0.021% → 0.000%: −$2.09
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: −$36.43
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 3 min ago; Aftermath Perps: no order-book sample. 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 Aster live order book, 3 min ago	0.70 bp	4.7 bp −$5	5.1 bp −$51	10.8 bp −$1,076	doesn't fit
Sell Aftermath Perps no order-book sample	—	—	—	—	—

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
Arcus HYPE-USD	−0.0948%	1h	92.670	−0.063%	$1.2M	$3.8M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0816%	1h	92.530	−0.214%	$194K	$227K	7x	as long as short
01 Exchange HYPEUSD	−0.0144%	1h	92.827	+0.106%	$86K	$351K	20x	as long as short
Bullet HYPE-USD	−0.0107%	1h	92.847	+0.128%	$111K	$579K	20x	as long as short
Aftermath Perps HYPEUSDshort	−0.0086%	1h	92.709	−0.021%	$22K	$21K	10x
Hotstuff HYPE-PERP	−0.0080%	1h	92.725	−0.004%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0076%	1h	92.340	−0.419%	$699K	$1.1M	10x	as long as short
Orderly PERP_HYPE_USDC	−0.0061%	4h	92.829	+0.108%	$158K	$663K	20x	as long as short
Aster HYPEUSDTlong	−0.0004%	4h	92.729	long leg	$8.7M	$36.2M	300x
dYdX HYPE-USD	0.0000%	1h	92.710	−0.020%	$127K	$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	92.874	+0.156%	$23K	$309K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.876	+0.158%	$62K	—	150x	as long as short
Derive HYPE-PERP	+0.0017%	1h	92.809	+0.087%	$16.1M	$7.5M	10x	as long as short
Phemex HYPEUSDT	+0.0018%	8h	92.838	+0.118%	$12.5M	$2.7M	50x	as long as short
Phoenix HYPE	+0.0026%	1h	92.584	−0.156%	$210K	$1.2M	10x	as long as short
BingX HYPE-USDT	+0.0030%	4h	92.853	+0.134%	—	$53.2M	—	as long as short
Bybit HYPEUSDT	+0.0038%	8h	92.850	+0.131%	$318.7M	$278.9M	75x	as long as short
Gate HYPE_USDT	+0.0048%	4h	92.854	+0.135%	$44.6M	$54.4M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0072%	8h	92.864	+0.146%	$113.4M	$301.3M	50x	as long as short
Binance HYPEUSDT	+0.0078%	4h	92.849	+0.130%	$373.4M	$891.6M	75x	as long as short
MEXC HYPE_USDT	+0.0080%	4h	92.872	+0.155%	$87.9M	$80.1M	100x	as long as short
Paradex HYPE-USD-PERP	+0.0093%	8h	92.795	+0.072%	$339K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.736	+0.008%	$16.1M	$61.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.726	−0.003%	$3.1M	$11.6M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.802	+0.079%	$68K	$1.2M	50x	as long as short
edgeX HYPEUSDC	+0.0098%	4h	92.541	−0.203%	$5.1M	$29.2M	30x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	92.770	+0.045%	$16K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.775	+0.051%	$5.8M	$43.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.866	+0.148%	$2.02B	$658.9M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.763	+0.037%	$10.0M	$14.9M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.867	+0.149%	$46.0M	$18.2M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.854	+0.135%	$224.7M	$97.4M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.626	−0.111%	$7.4M	$10.0M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.526	−0.218%	$28.6M	$56.6M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.627	−0.110%	$7.5M	$45.7M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.550	−0.193%	$336K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.567	−0.174%	$664K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.823	+0.101%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.866	+0.148%	$469K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.897	+0.182%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.851	+0.132%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.000	+0.293%	$1.4M	$6.2M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.810	+0.088%	$202K	$13K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.837	+0.117%	$18.2M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.853	+0.134%	$393K	$164K	20x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	92.340	−0.419%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.960	+0.250%	$4.7M	$5.5M	50x	as long as short
Reya HYPERUSDPERP	+0.0260%	1h	92.856	+0.137%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0264%	8h	92.564	−0.177%	$1.8M	$5.4M	2.3x	as long as short
BloFin HYPE-USDT	+0.0321%	4h	92.530	−0.214%	$16.8M	$11.5M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0153%	1h	92.876	+0.159%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0331%	1h	92.936	+0.223%	$20.7M	$30.3M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0428%	1h	92.955	+0.244%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.864	+0.146%	$3.2M	$6.4M	20x	as long as short
Bluefin HYPE-PERP	+0.4965%	1h	92.839	+0.119%	$79K	$169K	20x	as long as short