Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0088%/8h= +9.6% APRpaid last 24h +0.017%

Price spread now: Paradex against Aster+0.034%7-day average +0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$180.183% of the position

Long on Aster Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.012%+$1 on $10k

Price spread, last 4 days (all we have)−0.037%−$4 · spread now +0.034%, 7d avg +0.025%

Together, before fees−0.025%+ Points / potential airdropAster: Stage 5 · Paradex: Active · farm board−$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.025%, 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	93.379	0.0013	pay 0.0006% / 4h	2h 44m	$8.9M	$36.1M	300x
Short	Paradex HYPE-USD-PERP	93.411	0.0100	get 0.0100% / 8h	2h 44m	$339K	$171K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.034%Rate

Funding earned: $18.39
Price spread: +0.034% → +0.025%: $0.88
Slippage, 4 orders: −$6.3
Fee Aster: 4 bp × 2 orders: −$8
Fee Paradex: 2 bp × 2 orders: −$4
Net: $0.96
Costs to cover: 0.183%
Break-even: 6.6 days

Slippage from Aster: live order book, 4 min ago; Paradex: live order book, 44 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, 4 min ago	0.59 bp	4.8 bp −$5	5.0 bp −$50	12.0 bp −$1,195	doesn't fit
Sell Paradex live order book, 44 min ago	2.46 bp	4.5 bp −$4	7.8 bp −$78	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	−0.1240%	1h	93.386	+0.007%	$197K	$233K	7x	as long as short
Ondo Perps HYPE-USD.P	−0.0218%	1h	93.330	−0.053%	$701K	$943K	10x	as long as short
Aftermath Perps HYPEUSD	−0.0188%	1h	93.399	+0.021%	$22K	$22K	10x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	93.415	+0.038%	$89K	$346K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.388	+0.009%	$3K	$331	25x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.427	+0.052%	$127K	$33K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.504	+0.133%	$1.9M	$5.4M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.434	+0.059%	$23K	$343K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.430	+0.054%	$19K	—	150x	as long as short
Aster HYPEUSDTlong	+0.0013%	4h	93.379	long leg	$8.9M	$36.1M	300x

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate HYPE_USDT	+0.0016%	4h	93.400	+0.022%	$44.2M	$56.3M	75x	as long as short
Derive HYPE-PERP	+0.0017%	1h	93.351	−0.030%	$16.4M	$7.1M	10x	as long as short
Bullet HYPE-USD	+0.0019%	1h	93.411	+0.034%	$113K	$583K	20x	as long as short
Bybit HYPEUSDT	+0.0039%	8h	93.370	−0.010%	$325.2M	$287.9M	75x	as long as short
Phoenix HYPE	+0.0068%	1h	93.408	+0.031%	$216K	$1.2M	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0075%	4h	93.419	+0.042%	$180K	$536K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.415	+0.038%	$18.5M	$59.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.409	+0.032%	$3.1M	$12.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.390	+0.011%	$56K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.520	+0.151%	$40K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.396	+0.018%	$6.0M	$44.3M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.447	+0.072%	$2.03B	$669.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.391	+0.012%	$10.0M	$14.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.373	−0.007%	$385.6M	$888.3M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.385	+0.006%	$114.7M	$315.4M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.374	−0.006%	$1.2M	$4.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.335	−0.047%	$204K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.387	+0.008%	$93.0M	$81.9M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.383	+0.004%	$46.3M	$19.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.414	+0.037%	$226.9M	$102.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.393	+0.015%	—	$54.3M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.415	+0.038%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.375	−0.004%	$28.8M	$49.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.445	+0.070%	$7.5M	$45.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.456	+0.082%	$406K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.481	+0.109%	$676K	$2.4M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.462	+0.088%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.447	+0.072%	$493K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.402	+0.024%	$76K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.445	+0.070%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.375	−0.005%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.407	+0.030%	$12.7M	$2.6M	50x	as long as short
Paradex HYPE-USD-PERPshort	+0.0100%	8h	93.411	+0.034%	$339K	$171K	20x
Extended HYPE-USD	+0.0104%	1h	93.388	+0.010%	$18.4M	$41.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.420	+0.044%	$397K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0107%	4h	93.435	+0.059%	$5.1M	$29.5M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.500	+0.129%	$4.9M	$5.7M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0242%	1h	93.495	+0.124%	$7.4M	$4.6M	50x	as long as short
Reya HYPERUSDPERP	+0.0245%	1h	93.404	+0.027%	$77K	$157K	15x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.330	−0.053%	$30K	$231K	12x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0165%	1h	93.445	+0.071%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.405	+0.027%	$17.1M	$12.5M	75x	as long as short
HTX HYPE-USDT	+0.0381%	4h	93.573	+0.207%	$1.5M	$7.6M	75x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.462	+0.089%	$2.7M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0574%	1h	93.481	+0.109%	$19.2M	$25.8M	50x	as long as short