Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0135%/8h= +14.8% APRpaid last 24h +0.063%

Price spread now: Hyperliquid against Aster+0.143%7-day average +0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$10as in the Funding arb table

Net, price: spread back to 7d avg − costs−$9as in the Price arb table

costs, in and out, $10k−$210.211% of the position

Long on Aster Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.112%+$11 on $10k

Price spread, last 7 days−0.151%−$15 · spread now +0.143%, 7d avg +0.018%

Together, before fees−0.039%+ Points / potential airdropAster: Stage 5 · Hyperliquid: Season 2 · farm board−$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Hyperliquid is 0.125% dearer against Aster than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of +0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster HYPEUSDT	93.225	−0.0035	get 0.0017% / 4h	2h 52m	$8.9M	$36.2M	300x
Short	Hyperliquid HYPE	93.358	0.0100	get 0.0013% / 1h	52m 03s	$2.03B	$670.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.143%Rate

Funding earned: $28.32
Price spread: +0.143% → +0.018%: $12.45
Slippage, 4 orders: −$4.07
Fee Aster: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $19.7
Costs to cover: 0.211%
Break-even: 2.1 days

Slippage from Aster: live order book, 2 min ago; Hyperliquid: live order book, 12 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, 2 min ago	0.64 bp	4.6 bp −$5	5.0 bp −$50	12.6 bp −$1,256	doesn't fit
Sell Hyperliquid live order book, 12 min ago	0.21 bp	7.0 bp −$7	doesn't fit	doesn't fit	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	−0.1072%	1h	93.112	−0.121%	$196K	$229K	7x	as long as short
Arcus HYPE-USD	−0.0786%	1h	93.080	−0.156%	$1.2M	$3.9M	10x	as long as short
ApeX Omni HYPEUSDT	−0.0434%	1h	93.179	−0.049%	$337K	$1.1M	50x	as long as short
Aftermath Perps HYPEUSD	−0.0207%	1h	93.223	−0.003%	$22K	$21K	10x	as long as short
Backpack HYPE_USDC_PERP	−0.0200%	1h	93.265	+0.043%	$7.8M	$10.6M	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0128%	1h	93.110	−0.124%	$702K	$968K	10x	as long as short
01 Exchange HYPEUSD	−0.0088%	1h	93.261	+0.038%	$85K	$360K	20x	as long as short
Gate HYPE_USDT	−0.0082%	4h	93.300	+0.080%	$44.2M	$53.6M	75x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.180	−0.048%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0047%	4h	93.213	−0.013%	$158K	$646K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDTlong	−0.0035%	4h	93.225	long leg	$8.9M	$36.2M	300x
dYdX HYPE-USD	0.0000%	1h	93.184	−0.045%	$128K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.265	+0.043%	$23K	$330K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.248	+0.024%	$25K	—	150x	as long as short
Bluefin HYPE-PERP	+0.0011%	1h	93.253	+0.030%	$79K	$173K	20x	as long as short
BingX HYPE-USDT	+0.0015%	4h	93.297	+0.077%	—	$54.1M	—	as long as short
Bybit HYPEUSDT	+0.0029%	8h	93.310	+0.091%	$319.4M	$282.5M	75x	as long as short
MEXC HYPE_USDT	+0.0034%	4h	93.296	+0.076%	$86.9M	$81.6M	100x	as long as short
Binance HYPEUSDT	+0.0036%	4h	93.300	+0.080%	$379.4M	$903.9M	75x	as long as short
Derive HYPE-PERP	+0.0038%	1h	93.206	−0.020%	$16.2M	$7.6M	10x	as long as short
Phemex HYPEUSDT	+0.0048%	8h	93.298	+0.078%	$12.7M	$2.7M	50x	as long as short
edgeX HYPEUSDC	+0.0059%	4h	93.202	−0.025%	$5.0M	$29.7M	30x	as long as short
Phoenix HYPE	+0.0060%	1h	93.190	−0.038%	$212K	$1.2M	10x	as long as short
OKX HYPE-USDT-SWAP	+0.0068%	8h	93.315	+0.096%	$115.2M	$315.1M	50x	as long as short
Bullet HYPE-USD	+0.0072%	1h	93.214	−0.012%	$112K	$578K	20x	as long as short
Aevo HYPE-PERP	+0.0088%	1h	93.250	+0.027%	$397K	$177K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.314	+0.095%	$16.5M	$62.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.318	+0.100%	$3.1M	$11.8M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.268	+0.046%	$64K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.216	−0.010%	$339K	$165K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.190	−0.038%	$37K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.266	+0.044%	$6.5M	$44.7M	10x	as long as short
Hyperliquid HYPEshort	+0.0100%	1h	93.358	+0.143%	$2.03B	$670.7M	10x
Pacifica HYPE	+0.0100%	1h	93.199	−0.028%	$10.0M	$14.7M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.274	+0.052%	$46.0M	$18.4M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.317	+0.099%	$225.9M	$100.7M	75x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.991	−0.252%	$30.4M	$54.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.073	−0.163%	$7.5M	$46.7M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.159	−0.071%	$665K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.251	+0.028%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.262	+0.040%	$467K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.301	+0.081%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.293	+0.073%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.250	+0.027%	$203K	$10K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.245	+0.021%	$18.3M	$44.4M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0136%	1h	93.240	+0.016%	$4.9M	$5.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0137%	1h	93.060	−0.177%	$30K	$338K	12x	as long as short
BloFin HYPE-USDT	+0.0138%	4h	93.153	−0.077%	$17.0M	$12.1M	75x	as long as short
RISEx HYPE/USDC	+0.0210%	1h	93.255	+0.032%	$2.7M	$6.8M	20x	as long as short
Reya HYPERUSDPERP	+0.0253%	1h	93.225	0.000%	$79K	$142K	15x	as long as short
Kalshi KXHYPEPERP	+0.0254%	8h	93.257	+0.034%	$1.9M	$5.2M	2.3x	as long as short
HTX HYPE-USDT	+0.0281%	4h	93.400	+0.188%	$1.5M	$6.1M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0334% / S −0.0158%	1h	93.242	+0.018%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0575%	1h	93.378	+0.164%	$7.4M	$4.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0683%	1h	93.378	+0.164%	$20.8M	$29.9M	50x	as long as short