Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0101%/8h= +11.1% APRpaid last 24h +0.018%

Price spread now: Pacifica against Aster+0.017%7-day average +0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$200.197% of the position

Long on Aster Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.047%−$5 on $10k

Price spread, last 7 days−0.021%−$2 · spread now +0.017%, 7d avg +0.008%

Together, before fees−0.068%+ Points / potential airdropAster: Stage 5 · Pacifica: Active · farm board−$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.008%, so right now this pair is about funding alone: +$3 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	93.578	−0.0001	get 0.0001% / 4h	2h 11m	$8.8M	$35.8M	300x
Short	Pacifica HYPE	93.594	0.0100	get 0.0013% / 1h	11m 05s	$10.1M	$14.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.017%Rate

Funding earned: $21.3
Price spread: +0.017% → +0.008%: $0.96
Slippage, 4 orders: −$3.72
Fee Aster: 4 bp × 2 orders: −$8
Fee Pacifica: 4 bp × 2 orders: −$8
Net: $2.54
Costs to cover: 0.197%
Break-even: 6.2 days

Slippage from Aster: live order book, 3 min ago; Pacifica: live order book, 3 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	1.44 bp	5.4 bp −$5	5.8 bp −$58	11.6 bp −$1,157	doesn't fit
Sell Pacifica live order book, 3 min ago	0.05 bp	4.4 bp −$4	doesn't fit	doesn't fit	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	−0.1104%	1h	93.566	−0.013%	$197K	$229K	7x	as long as short
Arcus HYPE-USD	−0.0786%	1h	93.437	−0.150%	$1.2M	$3.8M	10x	as long as short
Phemex HYPEUSDT	−0.0104%	8h	93.615	+0.040%	$12.7M	$2.7M	50x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.591	+0.014%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0074%	1h	93.570	−0.008%	$701K	$919K	10x	as long as short
Orderly PERP_HYPE_USDC	−0.0057%	4h	93.564	−0.015%	$156K	$646K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0056%	1h	93.730	+0.163%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0048%	1h	93.578	0.000%	$85K	$349K	20x	as long as short
Backpack HYPE_USDC_PERP	−0.0014%	1h	93.560	−0.019%	$7.4M	$10.5M	20x	as long as short
Gate HYPE_USDT	−0.0012%	4h	93.571	−0.007%	$44.4M	$55.3M	75x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDTlong	−0.0001%	4h	93.578	long leg	$8.8M	$35.8M	300x
dYdX HYPE-USD	0.0000%	1h	93.593	+0.016%	$128K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.577	0.000%	$22K	$325K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.571	−0.008%	$26K	—	150x	as long as short
BingX HYPE-USDT	+0.0006%	4h	93.583	+0.006%	—	$53.5M	—	as long as short
Bybit HYPEUSDT	+0.0007%	8h	93.550	−0.030%	$321.1M	$279.5M	75x	as long as short
Phoenix HYPE	+0.0060%	1h	93.698	+0.128%	$211K	$1.2M	10x	as long as short
Binance HYPEUSDT	+0.0071%	4h	93.560	−0.019%	$380.9M	$888.3M	75x	as long as short
MEXC HYPE_USDT	+0.0072%	4h	93.598	+0.022%	$88.6M	$83.4M	100x	as long as short
Bullet HYPE-USD	+0.0073%	1h	93.551	−0.029%	$111K	$578K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0073%	8h	93.561	−0.018%	$115.2M	$306.8M	50x	as long as short
edgeX HYPEUSDC	+0.0081%	4h	93.705	+0.135%	$5.0M	$30.1M	30x	as long as short
Lighter HYPE	+0.0096%	1h	93.615	+0.039%	$16.3M	$62.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.605	+0.029%	$3.1M	$11.9M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.562	−0.017%	$67K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.587	+0.010%	$398K	$172K	20x	as long as short
Derive HYPE-PERP	+0.0096%	1h	93.558	−0.022%	$16.2M	$7.7M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0096%	8h	93.595	+0.018%	$340K	$164K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.590	+0.013%	$21K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.558	−0.021%	$5.7M	$44.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.679	+0.108%	$2.05B	$666.7M	10x	as long as short
Pacifica HYPEshort	+0.0100%	1h	93.594	+0.017%	$10.1M	$14.7M	20x
Bulk HYPE-USD	+0.0100%	1h	93.760	+0.195%	$204K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.609	+0.033%	$46.3M	$18.1M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.556	−0.023%	$226.6M	$97.9M	75x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.519	−0.063%	$31.1M	$54.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.676	+0.105%	$7.6M	$47.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.647	+0.074%	$338K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.683	+0.112%	$669K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.629	+0.054%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.580	+0.002%	$476K	$2.4M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.574	−0.004%	$79K	$170K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.648	+0.075%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.600	+0.024%	$2.0M	$1.9M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.572	−0.007%	$18.3M	$44.0M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0136%	1h	93.680	+0.109%	$4.9M	$5.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0137%	1h	93.490	−0.094%	$30K	$339K	12x	as long as short
HTX HYPE-USDT	+0.0181%	4h	93.750	+0.184%	$1.4M	$5.9M	75x	as long as short
RISEx HYPE/USDC	+0.0210%	1h	93.643	+0.070%	$3.2M	$7.0M	20x	as long as short
Reya HYPERUSDPERP	+0.0256%	1h	93.557	−0.023%	$80K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0284%	8h	93.593	+0.016%	$1.9M	$4.9M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0156%	1h	93.564	−0.015%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0412%	1h	93.674	+0.103%	$7.4M	$4.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0681%	1h	93.668	+0.096%	$20.9M	$29.8M	50x	as long as short