Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0145%/8h= +15.9% APRpaid last 24h +0.028%

Price spread now: GMX against Aster+0.003%7-day average +0.025% · you sell dearer than you buy

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

Long on Aster Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.079%+$8 on $10k

Price spread, last 3 days (all we have)+0.042%+$4 · spread now +0.003%, 7d avg +0.025%

Together, before fees+0.120%+ Points / potential airdropAster: Stage 5 · farm board+$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.022% cheaper against Aster than usual: you would sell low and buy high (spread +0.003% now, against its 7-day average of +0.025%). If the spread goes back, that is −$2 on $10k: about 12 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster HYPEUSDT	93.326	0.0014	pay 0.0007% / 4h	1h 40m	$8.9M	$36.0M	300x
Short	GMX HYPE/USD [WBTC.b-USDC]	93.329	L +0.0340% / S −0.0159%	get 0.0020% / 1h	40m 43s	$1.5M	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.003%Rate

Funding earned: $30.53
Price spread: +0.003% → +0.025%: −$2.18
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee GMX: 6 bp × 2 orders: −$12
Net: $8.35
Costs to cover: 0.200%
Break-even: 5.1 days

Slippage unknown: Aster: live order book, 3 min ago; GMX: 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	0.21 bp	4.6 bp −$5	5.5 bp −$55	11.9 bp −$1,192	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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
Aftermath Perps HYPEUSD	−0.0360%	1h	93.272	−0.058%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0131%	1h	93.266	−0.065%	$1.2M	$4.0M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0128%	1h	93.251	−0.081%	$197K	$230K	7x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.396	+0.075%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0068%	1h	93.270	−0.060%	$700K	$924K	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.344	+0.019%	$127K	$32K	5x	as long as short
01 Exchange HYPEUSD	0.0000%	1h	93.344	+0.019%	$90K	$361K	20x	as long as short
Popdex HYPEUSDT	0.0000%	1h	93.319	−0.008%	$58K	$1.2M	50x	as long as short
Perpl HYPE	0.0000%	43m	93.354	+0.029%	$23K	$331K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.342	+0.017%	$20K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDTlong	+0.0014%	4h	93.326	long leg	$8.9M	$36.0M	300x
Derive HYPE-PERP	+0.0016%	1h	93.265	−0.066%	$16.3M	$7.1M	10x	as long as short
Bybit HYPEUSDT	+0.0029%	8h	93.290	−0.039%	$323.9M	$286.8M	75x	as long as short
Phoenix HYPE	+0.0034%	1h	93.374	+0.051%	$214K	$1.2M	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0036%	4h	93.311	−0.016%	$171K	$519K	20x	as long as short
Gate HYPE_USDT	+0.0058%	4h	93.320	−0.007%	$43.7M	$57.8M	75x	as long as short
Bullet HYPE-USD	+0.0069%	1h	93.299	−0.029%	$112K	$578K	20x	as long as short
Binance HYPEUSDT	+0.0096%	4h	93.298	−0.031%	$383.5M	$892.4M	75x	as long as short
Lighter HYPE	+0.0096%	1h	93.347	+0.022%	$18.5M	$58.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.323	−0.004%	$3.1M	$12.1M	20x	as long as short
MEXC HYPE_USDT	+0.0096%	4h	93.292	−0.037%	$90.4M	$81.6M	100x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.305	−0.023%	$339K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.390	+0.068%	$40K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.315	−0.012%	$5.9M	$44.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.332	+0.006%	$2.03B	$672.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.329	+0.003%	$10.0M	$14.3M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.267	−0.064%	$114.0M	$313.9M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.390	+0.068%	$204K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.311	−0.016%	$47.2M	$18.9M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.306	−0.022%	$226.2M	$102.8M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.293	−0.036%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.330	+0.004%	$7.9M	$11.2M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.236	−0.097%	$28.9M	$50.6M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.228	−0.105%	$7.5M	$45.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.375	+0.052%	$413K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.385	+0.063%	$675K	$2.5M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.379	+0.056%	$494K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.289	−0.040%	$76K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.429	+0.110%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.321	−0.006%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.315	−0.012%	$12.7M	$2.6M	50x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.368	+0.044%	—	$454K	5x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.278	−0.052%	$18.2M	$42.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.277	−0.053%	$397K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0104%	4h	93.291	−0.038%	$5.1M	$29.5M	30x	as long as short
Kalshi KXHYPEPERP	+0.0107%	8h	93.452	+0.135%	$1.9M	$5.3M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.350	+0.025%	$4.9M	$5.7M	50x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	93.340	+0.015%	$30K	$338K	12x	as long as short
Reya HYPERUSDPERP	+0.0246%	1h	93.298	−0.030%	$78K	$158K	15x	as long as short
HTX HYPE-USDT	+0.0269%	4h	93.471	+0.155%	$1.5M	$7.7M	75x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.363	+0.039%	$2.8M	$6.8M	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0296%	1h	93.401	+0.080%	$7.4M	$4.6M	50x	as long as short
BloFin HYPE-USDT	+0.0337%	4h	93.319	−0.008%	$16.9M	$12.4M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]short	L +0.0340% / S −0.0159%	1h	93.329	+0.003%	$1.5M	—	100x
Kraken Futures PF_HYPEUSD	+0.0465%	1h	93.434	+0.116%	$20.8M	$28.8M	50x	as long as short