Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0158%/8h= +17.3% APRpaid last 24h +0.007%

Price spread now: Coinbase International against Aster+0.127%54s7-day average −0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$260.263% of the position

Long on Aster Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.054%−$5 on $10k

Price spread, last 4 days (all we have)−0.479%−$48 · spread now +0.127%, 7d avg −0.018%

Together, before fees−0.534%+ Points / potential airdropAster: Stage 5 · farm board−$53 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Coinbase International is 0.145% dearer against Aster than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of −0.018%. Mind the row above: over the last 7 days funding on this pair cost −0.054%, so the current rate has only just turned in your favour. The two prices were read 54 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	Aster HYPEUSDT	93.521	0.0018	pay 0.0009% / 4h	1h 44m	$8.8M	$35.6M	300x
Short	Coinbase International HYPE-PERP-INTX	93.640	0.0176	get 0.0022% / 1h	44m 22s	$4.9M	$5.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.127%Rate

Funding earned: $33.11
Price spread: +0.127% → −0.018%: $14.53
Slippage, 4 orders: −$8.34
Fee Aster: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $21.3
Costs to cover: 0.263%
Break-even: 2.5 days

Slippage from Aster: live order book, 5 min ago; Coinbase International: 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 Aster live order book, 5 min ago	0.38 bp	4.4 bp −$4	5.0 bp −$50	11.4 bp −$1,136	doesn't fit
Sell Coinbase International live order book, 5 min ago	2.68 bp	9.3 bp −$9	15.3 bp −$153	46.3 bp −$4,631	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	−0.1232%	1h	93.464	−0.061%	$196K	$226K	7x	as long as short
Arcus HYPE-USD	−0.0899%	1h	93.382	−0.149%	$1.2M	$3.8M	10x	as long as short
Bluefin HYPE-PERP	−0.0165%	1h	93.531	+0.010%	$79K	$170K	20x	as long as short
Phemex HYPEUSDT	−0.0103%	8h	93.518	−0.003%	$12.6M	$2.7M	50x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.486	−0.038%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0046%	4h	93.479	−0.045%	$156K	$629K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0036%	1h	93.380	−0.151%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0032%	1h	93.485	−0.039%	$85K	$346K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0004%	1h	93.420	−0.108%	$698K	$978K	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.524	+0.003%	$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	+0.005%	$23K	$322K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.480	−0.044%	$62K	—	150x	as long as short
BingX HYPE-USDT	+0.0008%	4h	93.480	−0.044%	—	$53.1M	—	as long as short
Aster HYPEUSDTlong	+0.0018%	4h	93.521	long leg	$8.8M	$35.6M	300x
Phoenix HYPE	+0.0026%	1h	93.418	−0.110%	$213K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0033%	8h	93.460	−0.065%	$322.7M	$276.6M	75x	as long as short
Gate HYPE_USDT	+0.0054%	4h	93.472	−0.053%	$44.6M	$54.6M	75x	as long as short
Bullet HYPE-USD	+0.0065%	1h	93.471	−0.054%	$111K	$577K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0078%	8h	93.470	−0.055%	$114.4M	$302.4M	50x	as long as short
MEXC HYPE_USDT	+0.0090%	4h	93.481	−0.043%	$87.8M	$80.2M	100x	as long as short
edgeX HYPEUSDC	+0.0092%	4h	93.250	−0.290%	$5.0M	$30.0M	30x	as long as short
Lighter HYPE	+0.0096%	1h	93.537	+0.017%	$16.3M	$61.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.525	+0.004%	$3.1M	$11.5M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.478	−0.046%	$68K	$1.2M	50x	as long as short
Binance HYPEUSDT	+0.0096%	4h	93.483	−0.041%	$379.6M	$876.9M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.551	+0.032%	$340K	$162K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.460	−0.065%	$19K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.465	−0.060%	$5.8M	$43.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.554	+0.035%	$2.04B	$655.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.523	+0.002%	$10.1M	$14.6M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.580	+0.063%	$204K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.478	−0.046%	$46.0M	$18.1M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.479	−0.045%	$226.1M	$96.8M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.555	+0.036%	$7.4M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.339	−0.195%	$31.1M	$54.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.288	−0.250%	$7.5M	$45.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.280	−0.258%	$339K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.354	−0.179%	$666K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.553	+0.034%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.513	−0.009%	$472K	$2.5M	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.537	+0.017%	$16.2M	$7.6M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.654	+0.142%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.575	+0.057%	$2.0M	$1.9M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.455	−0.070%	$18.4M	$43.7M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.549	+0.029%	$398K	$170K	20x	as long as short
Coinbase International HYPE-PERP-INTXshort	+0.0176%	1h	93.640	+0.127%	$4.9M	$5.4M	50x
HTX HYPE-USDT	+0.0204%	4h	93.714	+0.206%	$1.4M	$6.0M	75x	as long as short
Reya HYPERUSDPERP	+0.0257%	1h	93.458	−0.067%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0280%	8h	93.580	+0.063%	$1.9M	$5.0M	2.3x	as long as short
BloFin HYPE-USDT	+0.0330%	4h	93.572	+0.054%	$17.0M	$11.7M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0156%	1h	93.497	−0.026%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0338%	1h	93.645	+0.132%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0510%	1h	93.564	+0.045%	$3.2M	$6.5M	20x	as long as short
Injective HYPE/USDC PERP	+0.0519%	1h	93.430	−0.098%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0683%	1h	93.653	+0.141%	$20.8M	$30.1M	50x	as long as short