Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0105%/8h= +11.5% APRpaid last 24h +0.083%

Price spread now: Injective against Aster+0.364%77s7-day average +0.161% · you sell dearer than you buy

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

Long on Aster Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+2.212%+$221 on $10k

Price spread, last 4 days (all we have)−0.590%−$59 · spread now +0.364%, 7d avg +0.161%

Together, before fees+1.622%+ Points / potential airdropAster: Stage 5 · farm board+$162 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Injective is 0.203% dearer against Aster than usual: you sell high and buy low: +$20 more if the spread goes back to its 7-day average of +0.161%. The two prices were read 77 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	94.207	0.0100	pay 0.0050% / 4h	1h 04m	$8.8M	$37.2M	300x
Short	Injective HYPE/USDC PERP	94.550	0.0205	get 0.0026% / 1h	4m 03s	$31K	$340K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.364%Rate

Funding earned: $22.05
Price spread: +0.364% → +0.161%: $20.32
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $34.35
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Aster: live order book, 5 min ago; Injective: live order book, 40 min ago. 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, 5 min ago	0.90 bp	5.8 bp −$6	6.5 bp −$65	13.3 bp −$1,329	doesn't fit
Sell Injective live order book, 40 min ago	56.93 bp	doesn't fit	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	−0.1096%	1h	94.278	+0.075%	$201K	$236K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0158%	1h	94.284	+0.082%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0101%	1h	94.110	−0.103%	$710K	$1.2M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.373	+0.176%	$3K	$331	25x	as long as short
Bluefin HYPE-PERP	−0.0069%	1h	94.132	−0.080%	$80K	$155K	20x	as long as short
Bullet HYPE-USD	−0.0068%	1h	94.154	−0.056%	$110K	$578K	20x	as long as short
01 Exchange HYPEUSD	−0.0056%	1h	94.133	−0.079%	$87K	$366K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0009%	4h	94.127	−0.085%	$146K	$685K	20x	as long as short
Bybit HYPEUSDT	−0.0007%	8h	94.190	−0.018%	$317.3M	$289.5M	75x	as long as short
BingX HYPE-USDT	−0.0004%	4h	94.195	−0.013%	—	$53.5M	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX HYPE-USD	0.0000%	1h	94.178	−0.030%	$129K	$26K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.226	+0.020%	$1.8M	$5.6M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.172	−0.037%	$19K	$287K	10x	as long as short
Derive HYPE-PERP	+0.0001%	1h	94.110	−0.103%	$16.4M	$7.5M	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.180	−0.029%	$117K	—	150x	as long as short
Phoenix HYPE	+0.0017%	1h	94.223	+0.017%	$206K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0050%	4h	94.179	−0.030%	$226.5M	$100.0M	75x	as long as short
Phemex HYPEUSDT	+0.0059%	8h	94.150	−0.061%	$12.8M	$2.9M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0064%	8h	94.155	−0.055%	$336K	$156K	20x	as long as short
Arcus HYPE-USD	+0.0084%	1h	94.114	−0.099%	$1.0M	$3.5M	10x	as long as short
edgeX HYPEUSDC	+0.0085%	4h	94.169	−0.040%	$5.0M	$30.7M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0093%	8h	94.204	−0.003%	$116.9M	$321.4M	50x	as long as short
Lighter HYPE	+0.0096%	1h	94.171	−0.038%	$16.3M	$64.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.178	−0.031%	$3.2M	$11.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.119	−0.093%	$79K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.160	−0.050%	$15K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.116	−0.096%	$7.3M	$50.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.299	+0.098%	$2.07B	$688.3M	10x	as long as short
Aster HYPEUSDTlong	+0.0100%	4h	94.207	long leg	$8.8M	$37.2M	300x
Pacifica HYPE	+0.0100%	1h	94.178	−0.031%	$10.1M	$15.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.207	0.000%	$377.0M	$932.3M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.183	−0.026%	$217K	$15K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.190	−0.018%	$49.4M	$57.1M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.200	−0.007%	$89.8M	$85.4M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.206	−0.001%	$46.9M	$18.6M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.181	−0.028%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.239	+0.033%	$29.1M	$55.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.264	+0.061%	$7.6M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.207	0.000%	$362K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.216	+0.010%	$681K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.197	−0.010%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.170	−0.039%	$495K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.161	−0.049%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.162	−0.048%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.300	+0.099%	$1.4M	$6.8M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.134	−0.077%	$18.3M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.155	−0.055%	$398K	$159K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	94.190	−0.018%	$4.7M	$6.2M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0151% / S +0.0022%	1h	94.198	−0.010%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERPshort	+0.0205%	1h	94.550	+0.364%	$31K	$340K	12x
Deribit HYPE_USDC-PERPETUAL	+0.0249%	1h	94.253	+0.049%	$7.4M	$4.3M	50x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.123	−0.090%	$82K	$134K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.149	−0.062%	$17.0M	$12.3M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0413%	1h	94.222	+0.016%	$20.2M	$30.3M	50x	as long as short
RISEx HYPE/USDC	+0.0559%	1h	94.165	−0.045%	$3.2M	$6.4M	20x	as long as short