Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0015%/8h= −1.7% APRpaid last 24h −0.014%

Price spread now: dYdX against Aster+0.002%7-day average +0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$79as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$700.696% of the position

Long on Aster Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.098%−$10 on $10k

Price spread, last 4 days (all we have)+0.001%$0 · spread now +0.002%, 7d avg +0.011%

Together, before fees−0.097%+ Points / potential airdropAster: Stage 5 · farm board−$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.011%, so right now this pair is about funding alone: $0 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster HYPEUSDT	93.581	0.0015	pay 0.0008% / 4h	30m 45s	$8.9M	$36.0M	300x
Short	dYdX HYPE-USD	93.583	0	get 0.0000% / 1h	30m 45s	$127K	$30K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.002%Rate

Funding earned: −$3.18
Price spread: +0.002% → +0.011%: −$0.93
Slippage, 4 orders: −$51.6
Fee Aster: 4 bp × 2 orders: −$8
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$73.71
Costs to cover: 0.696%
Break-even: never at this rate

Slippage from Aster: live order book, 3 min ago; dYdX: live order book, 48 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, 3 min ago	0.69 bp	4.7 bp −$5	5.6 bp −$56	13.9 bp −$1,389	doesn't fit
Sell dYdX live order book, 48 min ago	25.09 bp	30.1 bp −$30	72.2 bp −$722	306.1 bp −$30.6K	1561.5 bp −$780.8K

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	−0.0792%	1h	93.621	+0.042%	$198K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0350%	1h	93.901	+0.342%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	93.511	−0.075%	$1.2M	$3.8M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.590	+0.010%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0050%	1h	93.570	−0.012%	$703K	$910K	10x	as long as short
01 Exchange HYPEUSD	−0.0032%	1h	93.583	+0.002%	$87K	$366K	20x	as long as short
Derive HYPE-PERP	−0.0017%	1h	93.543	−0.040%	$16.4M	$7.1M	10x	as long as short
dYdX HYPE-USDshort	0.0000%	1h	93.583	+0.002%	$127K	$30K	5x
Perpl HYPE	0.0000%	43m	93.591	+0.011%	$23K	$329K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.634	+0.056%	$26K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_HYPE_USDC	+0.0003%	4h	93.613	+0.034%	$163K	$578K	20x	as long as short
Phoenix HYPE	+0.0009%	1h	93.755	+0.186%	$215K	$1.2M	10x	as long as short
Aster HYPEUSDTlong	+0.0015%	4h	93.581	long leg	$8.9M	$36.0M	300x
Bybit HYPEUSDT	+0.0019%	8h	93.550	−0.033%	$321.4M	$283.3M	75x	as long as short
Binance HYPEUSDT	+0.0057%	4h	93.623	+0.045%	$383.0M	$895.2M	75x	as long as short
MEXC HYPE_USDT	+0.0058%	4h	93.571	−0.011%	$87.3M	$81.7M	100x	as long as short
Phemex HYPEUSDT	+0.0072%	8h	93.638	+0.061%	$12.8M	$2.6M	50x	as long as short
edgeX HYPEUSDC	+0.0080%	4h	93.817	+0.252%	$5.1M	$29.9M	30x	as long as short
Gate HYPE_USDT	+0.0082%	4h	93.560	−0.022%	$44.4M	$59.1M	75x	as long as short
Lighter HYPE	+0.0096%	1h	93.628	+0.051%	$18.8M	$60.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.583	+0.002%	$3.0M	$12.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.597	+0.017%	$63K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.608	+0.029%	$398K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.579	−0.002%	$340K	$171K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.600	+0.020%	$43K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.571	−0.010%	$5.7M	$44.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.617	+0.038%	$10.1M	$14.5M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.564	−0.018%	$115.2M	$319.8M	50x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.614	+0.035%	$46.5M	$18.5M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.567	−0.015%	$226.6M	$102.7M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.557	−0.026%	—	$54.1M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.607	+0.028%	$7.8M	$10.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.564	−0.018%	$31.2M	$53.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.786	+0.219%	$7.6M	$45.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.819	+0.254%	$341K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.752	+0.183%	$678K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.668	+0.093%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.608	+0.029%	$490K	$2.5M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	93.596	+0.016%	$111K	$578K	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.596	+0.016%	$76K	$170K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.655	+0.079%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.610	+0.031%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.120	+0.576%	$205K	$7K	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.410	+0.886%	$31K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.556	−0.027%	$18.3M	$42.8M	50x	as long as short
Kalshi KXHYPEPERP	+0.0131%	8h	93.733	+0.162%	$1.9M	$5.0M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	93.650	+0.074%	$4.9M	$5.7M	50x	as long as short
HTX HYPE-USDT	+0.0217%	4h	93.768	+0.200%	$1.5M	$7.8M	75x	as long as short
BloFin HYPE-USDT	+0.0237%	4h	93.601	+0.021%	$17.0M	$12.6M	75x	as long as short
Reya HYPERUSDPERP	+0.0249%	1h	93.598	+0.018%	$77K	$142K	15x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	93.647	+0.070%	$2.8M	$6.9M	20x	as long as short
Hyperliquid HYPE	+0.0291%	1h	93.627	+0.049%	$2.03B	$676.0M	10x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0337% / S −0.0163%	1h	93.636	+0.059%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0348%	1h	93.702	+0.129%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0579%	1h	93.700	+0.127%	$20.9M	$29.4M	50x	as long as short