Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0085%/8h= +9.3% APRpaid last 24h +0.012%

Price spread now: Polymarket Perps against Aster+0.141%56s7-day average −0.038% · 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—prices read too far apart to compare

costs, in and out, $10k−$230.226% of the position

Long on Aster Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.013%−$1 on $10k

Price spread, last 7 days−0.121%−$12 · spread now +0.141%, 7d avg −0.038%

Together, before fees−0.134%+ Points / potential airdropAster: Stage 5 · farm board−$13 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 Polymarket Perps is 0.180% dearer against Aster than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of −0.038%. The two prices were read 56 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	93.348	0.0015	pay 0.0008% / 4h	2h 12m	$8.9M	$35.8M	300x
Short	Polymarket Perps HYPE-USD	93.480	0.0100	get 0.0013% / 1h	12m 39s	$493K	$2.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.141%Rate

Funding earned: $17.77
Price spread: +0.141% → −0.038%: $17.96
Slippage, 4 orders: −$6.62
Fee Aster: 4 bp × 2 orders: −$8
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $13.11
Costs to cover: 0.226%
Break-even: 1.8 days

Slippage from Aster: live order book, 1 min ago; Polymarket Perps: live order book, 1 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, 1 min ago	0.91 bp	4.9 bp −$5	5.3 bp −$53	11.0 bp −$1,097	doesn't fit
Sell Polymarket Perps live order book, 1 min ago	1.71 bp	7.0 bp −$7	9.4 bp −$94	28.4 bp −$2,836	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	−0.0928%	1h	93.539	+0.205%	$198K	$233K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0264%	1h	93.617	+0.288%	$22K	$22K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0234%	1h	93.410	+0.066%	$702K	$932K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.359	+0.012%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0072%	1h	93.364	+0.017%	$90K	$348K	20x	as long as short
Bullet HYPE-USD	−0.0025%	1h	93.421	+0.078%	$111K	$581K	20x	as long as short
Derive HYPE-PERP	−0.0025%	1h	93.364	+0.017%	$16.4M	$7.1M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.459	+0.119%	$127K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.445	+0.104%	$23K	$337K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.451	+0.110%	$20K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDTlong	+0.0015%	4h	93.348	long leg	$8.9M	$35.8M	300x
Gate HYPE_USDT	+0.0024%	4h	93.353	+0.005%	$43.9M	$57.5M	75x	as long as short
Bybit HYPEUSDT	+0.0033%	8h	93.350	+0.002%	$325.1M	$287.1M	75x	as long as short
Popdex HYPEUSDT	+0.0040%	1h	93.347	−0.001%	$58K	$1.2M	50x	as long as short
Orderly PERP_HYPE_USDC	+0.0058%	4h	93.425	+0.082%	$176K	$520K	20x	as long as short
Phoenix HYPE	+0.0068%	1h	93.605	+0.275%	$216K	$1.2M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.391	+0.046%	$18.6M	$59.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.386	+0.041%	$3.1M	$12.4M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.377	+0.031%	$339K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.380	+0.034%	$37K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.345	−0.003%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.468	+0.129%	$2.04B	$670.8M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.376	+0.030%	$10.0M	$14.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.347	−0.001%	$385.4M	$889.4M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.339	−0.010%	$114.6M	$315.1M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.337	−0.012%	$1.2M	$4.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.690	+0.366%	$205K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.352	+0.004%	$93.4M	$82.4M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.410	+0.066%	$46.3M	$18.8M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.369	+0.022%	$226.9M	$102.5M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.365	+0.018%	—	$54.2M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.422	+0.079%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.561	+0.228%	$29.2M	$50.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.632	+0.305%	$7.5M	$45.3M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.558	+0.225%	$406K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.510	+0.174%	$676K	$2.5M	20x	as long as short
Polymarket Perps HYPE-USDshort	+0.0100%	1h	93.480	+0.141%	$493K	$2.6M	20x
Bluefin HYPE-PERP	+0.0100%	1h	93.384	+0.039%	$76K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.539	+0.205%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.403	+0.059%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.380	+0.034%	$12.7M	$2.6M	50x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.513	+0.176%	—	$454K	5x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.339	−0.010%	$18.3M	$41.4M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.450	+0.110%	$398K	$318K	20x	as long as short
Kalshi KXHYPEPERP	+0.0112%	8h	93.560	+0.227%	$1.9M	$5.3M	2.3x	as long as short
edgeX HYPEUSDC	+0.0118%	4h	93.534	+0.200%	$5.1M	$29.7M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.500	+0.163%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0246%	1h	93.435	+0.094%	$78K	$158K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0253%	1h	93.520	+0.184%	$7.4M	$4.6M	50x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.400	+0.056%	$30K	$291K	12x	as long as short
HTX HYPE-USDT	+0.0295%	4h	93.650	+0.324%	$1.5M	$7.6M	75x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.405	+0.061%	$17.1M	$12.4M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0346% / S −0.0171%	1h	93.454	+0.114%	$1.5M	—	100x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.422	+0.079%	$2.8M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0573%	1h	93.511	+0.175%	$19.1M	$26.1M	50x	as long as short