Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0498%/8h= +54.5% APRpaid last 24h +0.066%

Price spread now: RISEx against Aster+0.080%7-day average +0.008% · 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−$10as in the Price arb table

costs, in and out, $10k−$180.176% of the position

Long on Aster Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.148%+$15 on $10k

Price spread, last 7 days−0.074%−$7 · spread now +0.080%, 7d avg +0.008%

Together, before fees+0.074%+ Points / potential airdropAster: Stage 5 · farm board+$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and RISEx is 0.072% dearer against Aster than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.008%.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.148% in total (about 14.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster HYPEUSDT	93.067	0.0100	pay 0.0050% / 4h	3h 11m	$8.7M	$36.4M	300x
Short	RISEx HYPE/USDC	93.141	0.0598	get 0.0075% / 1h	11m 05s	$3.2M	$6.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now +0.080%Rate

Funding earned: $104.52
Price spread: +0.080% → +0.008%: $7.18
Slippage, 4 orders: −$3.63
Fee Aster: 4 bp × 2 orders: −$8
Fee RISEx: 3 bp × 2 orders: −$6
Net: $94.06
Costs to cover: 0.176%
Break-even: 0.7 days

Slippage from Aster: live order book, 3 min ago; RISEx: 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	0.64 bp	4.7 bp −$5	5.9 bp −$59	11.0 bp −$1,103	doesn't fit
Sell RISEx live order book, 3 min ago	0.70 bp	4.6 bp −$5	6.3 bp −$63	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	−0.1808%	1h	93.008	−0.063%	$194K	$231K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0321%	1h	93.016	−0.055%	$22K	$21K	10x	as long as short
Arcus HYPE-USD	−0.0194%	1h	93.045	−0.024%	$1.1M	$3.9M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.053	−0.015%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0052%	4h	93.043	−0.026%	$146K	$671K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.075	+0.009%	$128K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.060	−0.007%	$22K	$293K	10x	as long as short
Ondo Perps HYPE-USD.P	+0.0001%	1h	92.970	−0.104%	$700K	$1.1M	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.100	+0.035%	$62K	—	150x	as long as short
Bullet HYPE-USD	+0.0007%	1h	93.065	−0.002%	$111K	$578K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange HYPEUSD	+0.0016%	1h	93.108	+0.044%	$87K	$365K	20x	as long as short
Phoenix HYPE	+0.0026%	1h	93.056	−0.012%	$208K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0027%	8h	93.052	−0.016%	$317.4M	$284.4M	75x	as long as short
Phemex HYPEUSDT	+0.0028%	8h	93.033	−0.037%	$12.6M	$2.7M	50x	as long as short
Bitget HYPEUSDT	+0.0036%	4h	93.064	−0.003%	$225.1M	$98.8M	75x	as long as short
Popdex HYPEUSDT	+0.0048%	1h	93.081	+0.015%	$76K	$1.1M	50x	as long as short
Gate HYPE_USDT	+0.0058%	4h	93.053	−0.015%	$45.5M	$54.7M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0096%	8h	93.109	+0.045%	$339K	$162K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.076	+0.009%	$16.0M	$62.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.085	+0.019%	$3.1M	$11.6M	20x	as long as short
edgeX HYPEUSDC	+0.0099%	4h	93.100	+0.035%	$4.9M	$29.7M	30x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.070	+0.003%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.037	−0.032%	$6.8M	$46.5M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.114	+0.051%	$2.03B	$670.0M	10x	as long as short
Aster HYPEUSDTlong	+0.0100%	4h	93.067	long leg	$8.7M	$36.4M	300x
Pacifica HYPE	+0.0100%	1h	93.103	+0.039%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.070	+0.003%	$373.6M	$909.9M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.079	+0.013%	$114.0M	$305.3M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.125	+0.062%	$203K	$3K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.067	0.000%	$91.5M	$81.4M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.061	−0.006%	$46.1M	$18.5M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.065	−0.002%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.096	+0.031%	$7.3M	$11.2M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.028	−0.042%	$28.6M	$56.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.156	+0.096%	$7.5M	$46.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.126	+0.063%	$342K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.097	+0.032%	$665K	$2.9M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.120	+0.057%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.106	+0.042%	$488K	$2.7M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.077	+0.011%	$79K	$167K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.052	−0.016%	$16.0M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.140	+0.078%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.069	+0.002%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.228	+0.173%	$1.4M	$6.3M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.039	−0.030%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.070	+0.004%	$393K	$164K	20x	as long as short
Kalshi KXHYPEPERP	+0.0117%	8h	93.139	+0.077%	$1.8M	$5.5M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.120	+0.057%	$4.7M	$5.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0196%	1h	93.136	+0.074%	$20.7M	$29.4M	50x	as long as short
Injective HYPE/USDC PERP	+0.0242%	1h	93.410	+0.369%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0266%	1h	93.085	+0.019%	$79K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	93.094	+0.029%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.074	+0.008%	$16.8M	$11.8M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0523%	1h	93.164	+0.104%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDCshort	+0.0598%	1h	93.141	+0.080%	$3.2M	$6.3M	20x