Funding arb · Price arb / Crypto

HYPE

All HYPE markets →

LONGAvantis▾Hibachi −0.0248%Aftermath Perps −0.0139%Orderly −0.0048%OKX −0.0020%Kalshi 0.0000%Perpl 0.0000%Kraken Futures +0.0016%Bullet +0.0063%N1 +0.0072%Paradex +0.0074%edgeX +0.0088%Lighter +0.0096%Lighter RH +0.0096%Popdex +0.0096%Nado +0.0100%Hyperliquid +0.0100%Aster +0.0100%Pacifica +0.0100%Binance +0.0100%Bybit +0.0100%Ondo Perps +0.0100%Arcus +0.0100%Bulk +0.0100%Gate +0.0100%MEXC +0.0100%KuCoin +0.0100%Bitget +0.0100%BingX +0.0100%Backpack +0.0100%Variational Omni +0.0100%GRVT +0.0100%ApeX Omni +0.0100%StandX +0.0100%Polymarket Perps +0.0100%Reya +0.0100%Bluefin +0.0100%Derive +0.0100%SunX +0.0100%SoDEX +0.0100%HTX +0.0100%Phemex +0.0100%Extended +0.0104%Aevo +0.0104%RISEx +0.0114%dYdX +0.0191%Deribit +0.0209%Avantis +0.0233%gTrade (Gains Network) +0.0277%GMX +0.0285%BloFin +0.0340%Vest Markets +0.0388%Phoenix +0.0519%Coinbase International +0.0688%Injective +0.0785%

⇄⇅

SHORTKatana Perps▾Injective +0.0785%Coinbase International +0.0688%Phoenix +0.0519%gTrade (Gains Network) −0.0467%Vest Markets +0.0388%BloFin +0.0340%GMX −0.0239%Deribit +0.0209%dYdX +0.0191%RISEx +0.0114%Extended +0.0104%Aevo +0.0104%Hyperliquid +0.0100%Aster +0.0100%Pacifica +0.0100%Binance +0.0100%Bybit +0.0100%Ondo Perps +0.0100%Arcus +0.0100%Bulk +0.0100%Gate +0.0100%MEXC +0.0100%KuCoin +0.0100%Bitget +0.0100%BingX +0.0100%Backpack +0.0100%Variational Omni +0.0100%GRVT +0.0100%ApeX Omni +0.0100%StandX +0.0100%Polymarket Perps +0.0100%Reya +0.0100%Bluefin +0.0100%Derive +0.0100%SunX +0.0100%SoDEX +0.0100%HTX +0.0100%Phemex +0.0100%Nado +0.0100%Popdex +0.0096%Lighter +0.0096%Lighter RH +0.0096%edgeX +0.0088%Paradex +0.0074%N1 +0.0072%Bullet +0.0063%Kraken Futures +0.0016%Kalshi 0.0000%Perpl 0.0000%OKX −0.0020%Orderly −0.0048%Aftermath Perps −0.0139%Hibachi −0.0248%Katana Perps −0.3523%

Backtest 30d☆

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	AvantisHYPE/USD	89.379	L +0.0233S +0.0034	pay 0.0029% / 1h	33m 20s	$55K	—	20x	Long Avantis
SHORT	Katana PerpsHYPE-USD	89.300	−0.3523	pay 0.3523% / 8h	5h 33m	$21K	$61K	10x	Short Katana Perps

Price gap−0.089%

Funding gap−0.3755% /8h

Both sides work against this direction now: funding costs $113 a day on $10k and the gap is 0.089% under zero (no 7-day history yet). Swap the legs.

The current funding rate is far below what this pair has been paying: over the last 7 days it paid −0.195% in total, about −0.0093%/8h on average.

Price and funding

Entry / ExitPrice spreadPricesFundingLeg ratesP&L

1m5m15m

1h · history

24H3D7D14D30D90D

Entry / Exit?Avantis: thin, under $1M open interest · Katana Perps: thin, under $1M open interest

Price spread?

Prices?

Funding?per 8h

ENTRY / EXIT · 7D

Entry now—

Entry average—

Best entry—

Exit now—

Exit average—

Best exit—

Exit free—

PRICE SPREAD · 7D

Now−0.089%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D▾

share of time at each level

Funding on every exchange

/8h

24H3D7D14D30D90D

AvantisKatana Perps

HYPE on 55 exchanges

lowest funding first

Before you open

2 ok · 2 to watch

• i
  Note: Order book unknown—

  No order-book sample for Avantis and Katana Perps: its slippage is not counted.
• i
  Note: Margin at max leverage$500 + $1,000

  Avantis 20x, Katana Perps 10x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
• !
  Watch: Payment intervals differ1h / 8h

  Payments land at different times. Close right after the slower leg pays.

  Long Avantis · 1h−$6.99

  Short Katana Perps · 8h−$105.68

  now+6h+12h+18h+24h

  Next 24h at the current rates, on $10k a leg: −$112.66Long Avantis: 24 payments, −$6.99; short Katana Perps: 3 payments, −$105.68.
• i
  Note: No 7-day spread history−0.089%

  The gap cannot be compared with its average yet.
• !
  Watch: Short leg is thinner$21K vs $55K OI

  Katana Perps sets your exit cost. Check its book before closing.
• ✓
  OK: Points on a legAvantis Season 3

  Volume here counts toward the points program.
• ✓
  OK: No KYC on either legAvantis No · Katana Perps No

  Both exchanges let you trade without ID.

Profit calculator

both legs, in and out

Position, each leg

$10k$100k$1M

Hold for

1 day7 days30 days

Orders

takermaker

Price spread

to 7d avgclosesnot counted

Funding rate

range avgcurrent

Funding earned−0.0093%/8h × 21 periods−$19.53

Price spread−0.089% → 0−$8.86

Slippage, 4 ordersno data for Avantis and Katana Perps—

Fee Avantis bp × 2 orders−$9.00

Fee Katana Perps bp × 2 orders−$3.80

Net, fees only · 7 days · $10k−$41.18

Costs to cover0.128%Break-evennever at this rate

Slippage: Avantis: no order-book sample; Katana Perps: no order-book sample

Cost to enter

taker + slippage from mid, one side

Leg½ spr$10k$100k$1M$5M

BUY · LONGAvantis—————

SELL · SHORTKatana Perps—————

Closing costs about the same again.
Avantis and Katana Perps: no data.

Alert

FundingSpread

Tell me when it goes above%/8hNot more often than everymin

Create alert

HYPE news

posts that mention HYPE, from every exchangeSearch all news →

09-29 15:00	Coinbase International	Other	Assets you swore you'd never sell: - HYPE - ZEC Assets you can now instantly borrow up to $100k against instead of selling: - HYPE - ZEC Guess that works out. @coinbase on X ↗
09-29 14:58	BingX	Contest	Your next trade could come with extra rewards 😎 Share a 200,000 USDT prize pool, with up to 500 USDT per trader. New users can claim 15 USDT trading BTC, ETH or HYPE, plus daily trading rewards of 15 USDT. Join on BingX before Oct 7👇 @BingXOfficial on X ↗
09-28 18:50	Aevo	Other	bitcoin:native is back near $83k after trading above $86k last week. Whether you trade the continuation or pullback, all options and this week’s Perp Majors count toward the volume requirement for our year-end reward. This week’s Perp Majors include: BTC, ETH, SOL, ZEC, NEAR, HYPE, LIT, SPY, QQQ, HOOD, SNDK, MU, NVDA, TSLA, GOOGL. @aevoxyz on X ↗
09-28 15:17	OKX	Other	New X Drops just went live in Europe. Trade XDP, HYPE, TAO, LINK, PUMP, UNI, LTC, DOGE, FET, or AAVE for a share of 23M $XDP. $XDP trades get a 3× boost. @okx on X ↗
09-24 07:40	Binance	Listing	Binance will list @HyperliquidX (HYPE) with the Seed Tag applied. More info → @binance on X ↗
09-23 06:39	Bitget	Other	$HYPE just hit a new ATH near $98, gaining ~5% over the past 24 hours. The move comes as Payward plans to bring regulated onchain perpetual futures to U.S. traders via @HyperliquidX. @bitget on X ↗