Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:38 UTC+0.0002%/8h= +0.2% APRpaid last 24h −0.002%

Price spread now: Perpl against Aster+0.019%7-day average +0.024% · you sell dearer than you buy

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

Long on Aster Short on Perpl

What this pair did over the last

the charts below follow

Funding, last 7 days−0.106%−$11 on $10k

Price spread, last 4 days (all we have)+1.185%+$119 · spread now +0.019%, 7d avg +0.024%

Together, before fees+1.079%+ Points / potential airdropAster: Stage 5 · Perpl: Active · farm board+$108 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster HYPEUSDT	93.452	−0.0002	get 0.0001% / 4h	2h 09m	$8.8M	$35.8M	300x
Short	Perpl HYPE	93.470	0	get 0.0000% / 43m	14m 54s	$22K	$325K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Perpl 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 PerplbpOrdersPrice spread, now +0.019%Rate

Funding earned: $0.37
Price spread: +0.019% → +0.024%: −$0.5
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Net: −$21.92
Costs to cover: 0.218%
Break-even: 417.6 days

Slippage unknown: Aster: live order book, 4 min ago; Perpl: no order-book sample. 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, 4 min ago	1.44 bp	5.4 bp −$5	5.8 bp −$58	11.6 bp −$1,157	doesn't fit
Sell Perpl no order-book sample	—	—	—	—	—

Perpl: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	+0.122%	$197K	$229K	7x	as long as short
Arcus HYPE-USD	−0.0786%	1h	93.356	−0.102%	$1.2M	$3.8M	10x	as long as short
Phemex HYPEUSDT	−0.0097%	8h	93.482	+0.032%	$12.6M	$2.7M	50x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.571	+0.128%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0076%	1h	93.540	+0.094%	$701K	$919K	10x	as long as short
Aftermath Perps HYPEUSD	−0.0059%	1h	93.695	+0.261%	$22K	$21K	10x	as long as short
Orderly PERP_HYPE_USDC	−0.0056%	4h	93.420	−0.034%	$156K	$646K	20x	as long as short
01 Exchange HYPEUSD	−0.0040%	1h	93.476	+0.026%	$85K	$349K	20x	as long as short
Backpack HYPE_USDC_PERP	−0.0011%	1h	93.437	−0.016%	$7.4M	$10.5M	20x	as long as short
Gate HYPE_USDT	−0.0010%	4h	93.435	−0.018%	$44.3M	$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	−0.0002%	4h	93.452	long leg	$8.8M	$35.8M	300x
dYdX HYPE-USD	0.0000%	1h	93.502	+0.054%	$128K	$31K	5x	as long as short
Perpl HYPEshort	0.0000%	43m	93.470	+0.019%	$22K	$325K	10x
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.466	+0.015%	$26K	—	150x	as long as short
BingX HYPE-USDT	+0.0006%	4h	93.452	0.000%	—	$53.5M	—	as long as short
Bybit HYPEUSDT	+0.0007%	8h	93.420	−0.034%	$320.7M	$279.2M	75x	as long as short
Phoenix HYPE	+0.0060%	1h	93.698	+0.263%	$211K	$1.2M	10x	as long as short
MEXC HYPE_USDT	+0.0070%	4h	93.431	−0.022%	$88.2M	$83.4M	100x	as long as short
Bullet HYPE-USD	+0.0072%	1h	93.454	+0.003%	$111K	$578K	20x	as long as short
Binance HYPEUSDT	+0.0073%	4h	93.423	−0.031%	$380.4M	$887.4M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0073%	8h	93.428	−0.025%	$115.0M	$306.0M	50x	as long as short
edgeX HYPEUSDC	+0.0081%	4h	93.705	+0.270%	$5.0M	$30.1M	30x	as long as short
Lighter HYPE	+0.0096%	1h	93.471	+0.021%	$16.3M	$62.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.472	+0.022%	$3.1M	$11.9M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.461	+0.010%	$67K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.467	+0.016%	$398K	$172K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0096%	8h	93.576	+0.133%	$340K	$164K	20x	as long as short
Derive HYPE-PERP	+0.0099%	1h	93.430	−0.023%	$16.2M	$7.7M	10x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.490	+0.041%	$21K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.493	+0.045%	$5.7M	$44.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.546	+0.101%	$2.04B	$666.8M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.524	+0.077%	$10.1M	$14.7M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.760	+0.330%	$204K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.453	+0.001%	$46.2M	$18.1M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.426	−0.028%	$226.3M	$97.8M	75x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.519	+0.072%	$31.1M	$54.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.676	+0.240%	$7.6M	$47.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.647	+0.209%	$338K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.606	+0.165%	$668K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.550	+0.105%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.487	+0.038%	$475K	$2.4M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.438	−0.015%	$79K	$170K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.550	+0.105%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.460	+0.009%	$2.0M	$1.9M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.404	−0.051%	$18.3M	$43.9M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0136%	1h	93.590	+0.148%	$4.9M	$5.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0137%	1h	93.490	+0.041%	$30K	$339K	12x	as long as short
HTX HYPE-USDT	+0.0181%	4h	93.650	+0.212%	$1.4M	$5.9M	75x	as long as short
RISEx HYPE/USDC	+0.0210%	1h	93.552	+0.107%	$3.2M	$6.9M	20x	as long as short
Reya HYPERUSDPERP	+0.0256%	1h	93.453	+0.002%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0284%	8h	93.506	+0.058%	$1.9M	$4.9M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0156%	1h	93.464	+0.014%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0510%	1h	93.551	+0.106%	$7.4M	$4.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0682%	1h	93.549	+0.105%	$20.9M	$29.8M	50x	as long as short