Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0109%/8h= −12.0% APRpaid last 24h +0.030%

Price spread now: Aftermath Perps against Bybit+0.138%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on Aftermath Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Aftermath Perps is 0.138% dearer against Bybit than usual: you sell high and buy low (spread +0.138% now, against zero (this spread has no 7-day history yet)): +$14 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 4.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit HYPEUSDT	93.270	0.0041	pay 0.0041% / 8h	2h 57m	$325.2M	$289.5M	75x
Short	Aftermath Perps HYPEUSD	93.398	−0.0068	pay 0.0009% / 1h	57m 39s	$22K	$22K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps against Bybit. 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 BybitbpFee Aftermath PerpsbpOrdersPrice spread, now +0.138%Rate

Funding earned: −$22.92
Price spread: +0.138% → 0.000%: $13.78
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: −$29.15
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 1 min ago; Aftermath Perps: 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 Bybit live order book, 1 min ago	0.54 bp	6.0 bp −$6	7.8 bp −$78	16.5 bp −$1,648	49.5 bp −$24.8K
Sell Aftermath Perps no order-book sample	—	—	—	—	—

Aftermath Perps: 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 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	−0.1368%	1h	93.352	+0.088%	$197K	$240K	7x	as long as short
Ondo Perps HYPE-USD.P	−0.0175%	1h	93.260	−0.011%	$700K	$952K	10x	as long as short
01 Exchange HYPEUSD	−0.0104%	1h	93.310	+0.043%	$89K	$342K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.371	+0.108%	$3K	$331	25x	as long as short
Aftermath Perps HYPEUSDshort	−0.0068%	1h	93.398	+0.138%	$22K	$22K	10x
Popdex HYPEUSDT	−0.0008%	1h	93.301	+0.033%	$56K	$1.2M	50x	as long as short
Bullet HYPE-USD	−0.0006%	1h	93.292	+0.023%	$112K	$583K	20x	as long as short
Gate HYPE_USDT	−0.0006%	4h	93.282	+0.013%	$44.1M	$56.1M	75x	as long as short
SoDEX HYPE-USD	−0.0003%	1h	93.247	−0.025%	$2.0M	$2.0M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.341	+0.076%	$127K	$33K	5x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXHYPEPERP	0.0000%	8h	93.452	+0.195%	$1.9M	$5.4M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.356	+0.093%	$24K	$343K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.311	+0.044%	$20K	—	150x	as long as short
Aster HYPEUSDT	+0.0005%	4h	93.268	−0.002%	$8.9M	$36.5M	300x	as long as short
Bybit HYPEUSDTlong	+0.0041%	8h	93.270	long leg	$325.2M	$289.5M	75x
Bluefin HYPE-PERP	+0.0057%	1h	93.273	+0.003%	$76K	$168K	20x	as long as short
Derive HYPE-PERP	+0.0058%	1h	93.225	−0.048%	$16.4M	$7.1M	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0078%	4h	93.298	+0.030%	$180K	$537K	20x	as long as short
Phoenix HYPE	+0.0094%	1h	93.444	+0.187%	$216K	$1.1M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.343	+0.078%	$18.6M	$58.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.318	+0.051%	$3.1M	$12.3M	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.360	+0.096%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.332	+0.066%	$6.0M	$44.6M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.347	+0.083%	$2.03B	$673.9M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.299	+0.031%	$10.0M	$14.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.277	+0.008%	$386.1M	$893.6M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.271	+0.001%	$114.6M	$316.8M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.320	+0.054%	$1.2M	$4.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.386	+0.125%	$204K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.276	+0.006%	$92.2M	$81.3M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.285	+0.016%	$46.2M	$19.6M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.293	+0.025%	$226.7M	$103.1M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.270	0.000%	—	$54.5M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.286	+0.017%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.466	+0.211%	$28.9M	$50.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.411	+0.151%	$7.5M	$46.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.411	+0.151%	$406K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.419	+0.160%	$675K	$2.4M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.365	+0.102%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.330	+0.064%	$503K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.337	+0.072%	$32K	$1.6M	20x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.290	+0.021%	$12.7M	$2.6M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0101%	8h	93.309	+0.042%	$339K	$171K	20x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.269	−0.001%	$18.4M	$41.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.282	+0.013%	$397K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0113%	4h	93.404	+0.144%	$5.1M	$29.5M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.380	+0.118%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0244%	1h	93.293	+0.025%	$77K	$157K	15x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.340	+0.075%	$30K	$231K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0286%	1h	93.359	+0.095%	$7.4M	$4.6M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0165%	1h	93.317	+0.050%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.363	+0.100%	$17.2M	$12.7M	75x	as long as short
HTX HYPE-USDT	+0.0441%	4h	93.450	+0.193%	$1.5M	$7.6M	75x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.370	+0.107%	$2.7M	$6.9M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0574%	1h	93.388	+0.126%	$18.7M	$24.8M	50x	as long as short