Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0085%/8h= +9.3% APRpaid last 24h −0.006%

Price spread now: OKX against Aster+0.045%7-day average −0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$220.216% of the position

Long on Aster Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.018%−$2 on $10k

Price spread, last 7 days−0.039%−$4 · spread now +0.045%, 7d avg −0.004%

Together, before fees−0.056%+ Points / potential airdropAster: Stage 5 · farm board−$6 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 OKX is 0.049% dearer against Aster than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster HYPEUSDT	93.273	−0.0010	get 0.0005% / 4h	2h 07m	$8.8M	$35.8M	300x
Short	OKX HYPE-USDT-SWAP	93.315	0.0075	get 0.0075% / 8h	6h 07m	$114.7M	$303.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.045%Rate

Funding earned: $17.81
Price spread: +0.045% → −0.004%: $4.92
Slippage, 4 orders: −$3.64
Fee Aster: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: $1.09
Costs to cover: 0.216%
Break-even: 6.6 days

Slippage from Aster: live order book, 2 min ago; OKX: live order book, 2 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	0.43 bp	5.2 bp −$5	5.8 bp −$58	12.4 bp −$1,243	doesn't fit
Sell OKX live order book, 2 min ago	0.05 bp	6.3 bp −$6	9.8 bp −$98	19.3 bp −$1,926	doesn't fit

HYPE on 54 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	−0.1112%	1h	93.252	−0.022%	$196K	$227K	7x	as long as short
Arcus HYPE-USD	−0.0786%	1h	93.171	−0.109%	$1.2M	$3.8M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.333	+0.064%	$3K	$331	25x	as long as short
Phemex HYPEUSDT	−0.0076%	8h	93.318	+0.048%	$12.6M	$2.7M	50x	as long as short
Ondo Perps HYPE-USD.P	−0.0076%	1h	93.300	+0.029%	$701K	$909K	10x	as long as short
Orderly PERP_HYPE_USDC	−0.0055%	4h	93.280	+0.008%	$156K	$645K	20x	as long as short
01 Exchange HYPEUSD	−0.0048%	1h	93.298	+0.027%	$84K	$347K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0038%	1h	93.552	+0.299%	$22K	$21K	10x	as long as short
Aster HYPEUSDTlong	−0.0010%	4h	93.273	long leg	$8.8M	$35.8M	300x
Gate HYPE_USDT	−0.0008%	4h	93.299	+0.028%	$44.2M	$55.4M	75x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Backpack HYPE_USDC_PERP	−0.0003%	1h	93.310	+0.040%	$7.4M	$10.4M	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.303	+0.033%	$128K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.297	+0.026%	$22K	$323K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.311	+0.041%	$25K	—	150x	as long as short
BingX HYPE-USDT	+0.0006%	4h	93.303	+0.032%	—	$53.4M	—	as long as short
Bybit HYPEUSDT	+0.0011%	8h	93.285	+0.013%	$320.1M	$277.2M	75x	as long as short
Phoenix HYPE	+0.0060%	1h	93.484	+0.226%	$210K	$1.2M	10x	as long as short
Bullet HYPE-USD	+0.0065%	1h	93.283	+0.011%	$111K	$577K	20x	as long as short
MEXC HYPE_USDT	+0.0070%	4h	93.310	+0.040%	$88.1M	$83.5M	100x	as long as short
Binance HYPEUSDT	+0.0070%	4h	93.335	+0.066%	$380.0M	$882.1M	75x	as long as short
OKX HYPE-USDT-SWAPshort	+0.0075%	8h	93.315	+0.045%	$114.7M	$303.1M	50x
edgeX HYPEUSDC	+0.0081%	4h	93.375	+0.110%	$5.0M	$29.9M	30x	as long as short
Lighter HYPE	+0.0096%	1h	93.355	+0.088%	$16.3M	$62.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.346	+0.078%	$3.1M	$11.9M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.288	+0.016%	$67K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.326	+0.057%	$397K	$172K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.336	+0.068%	$339K	$163K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.320	+0.050%	$21K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.326	+0.056%	$5.7M	$43.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.385	+0.120%	$2.04B	$657.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.335	+0.067%	$10.0M	$14.7M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.760	+0.522%	$204K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.319	+0.049%	$46.2M	$18.0M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.314	+0.044%	$225.9M	$97.3M	75x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.519	+0.263%	$31.1M	$54.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.391	+0.127%	$7.5M	$47.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.374	+0.108%	$337K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.362	+0.095%	$666K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.345	+0.077%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.320	+0.050%	$474K	$2.4M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.264	−0.010%	$79K	$170K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.276	+0.003%	$16.2M	$7.7M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.402	+0.138%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.340	+0.072%	$2.0M	$1.9M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.309	+0.038%	$18.3M	$43.7M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0136%	1h	93.430	+0.168%	$4.9M	$5.4M	50x	as long as short
Injective HYPE/USDC PERP	+0.0137%	1h	94.180	+0.972%	$31K	$339K	12x	as long as short
HTX HYPE-USDT	+0.0184%	4h	93.450	+0.190%	$1.4M	$5.9M	75x	as long as short
RISEx HYPE/USDC	+0.0210%	1h	93.381	+0.116%	$3.2M	$6.7M	20x	as long as short
Reya HYPERUSDPERP	+0.0256%	1h	93.298	+0.027%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0279%	8h	93.295	+0.024%	$1.9M	$4.9M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0156%	1h	93.305	+0.034%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0468%	1h	93.418	+0.155%	$7.4M	$4.4M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0683%	1h	93.400	+0.136%	$20.8M	$29.8M	50x	as long as short