Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0036%/8h= −4.0% APRpaid last 24h +0.011%

Price spread now: Aster against dYdX+0.014%7-day average −0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$720.716% of the position

Long on dYdX Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.095%+$9 on $10k

Price spread, last 4 days (all we have)+0.005%+$1 · spread now +0.014%, 7d avg −0.011%

Together, before fees+0.100%+ Points / potential airdropAster: Stage 5 · farm board+$10 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aster is 0.025% dearer against dYdX than usual: you sell high and buy low (spread +0.014% now, against its 7-day average of −0.011%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.3 days. Mind the row above: over the last 7 days funding on this pair paid +0.095%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX HYPE-USD	93.099	0	get 0.0000% / 1h	54m 11s	$128K	$31K	5x
Short	Aster HYPEUSDT	93.112	−0.0036	pay 0.0018% / 4h	2h 54m	$8.9M	$36.2M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against dYdX. 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 dYdXbpFee AsterbpOrdersPrice spread, now +0.014%Rate

Funding earned: −$7.66
Price spread: +0.014% → −0.011%: $2.52
Slippage, 4 orders: −$53.6
Fee dYdX: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$76.73
Costs to cover: 0.716%
Break-even: never at this rate

Slippage from dYdX: live order book, 15 min ago; Aster: live order book, 5 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 dYdX live order book, 15 min ago	25.82 bp	30.8 bp −$31	42.9 bp −$429	115.1 bp −$11.5K	966.9 bp −$483.5K
Sell Aster live order book, 5 min ago	0.59 bp	5.3 bp −$5	6.3 bp −$63	17.6 bp −$1,759	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	−0.1080%	1h	93.025	−0.079%	$196K	$229K	7x	as long as short
Arcus HYPE-USD	−0.0786%	1h	92.955	−0.154%	$1.2M	$3.9M	10x	as long as short
ApeX Omni HYPEUSDT	−0.0434%	1h	93.179	+0.086%	$337K	$1.1M	50x	as long as short
Backpack HYPE_USDC_PERP	−0.0214%	1h	93.099	0.000%	$7.8M	$10.6M	20x	as long as short
Aftermath Perps HYPEUSD	−0.0195%	1h	93.309	+0.226%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0096%	1h	93.022	−0.082%	$84K	$360K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0086%	1h	93.040	−0.063%	$702K	$963K	10x	as long as short
Gate HYPE_USDT	−0.0082%	4h	93.143	+0.048%	$44.1M	$53.5M	75x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.065	−0.036%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0046%	4h	93.089	−0.010%	$158K	$648K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDTshort	−0.0036%	4h	93.112	+0.014%	$8.9M	$36.2M	300x
Bluefin HYPE-PERP	−0.0031%	1h	93.141	+0.045%	$79K	$173K	20x	as long as short
dYdX HYPE-USDlong	0.0000%	1h	93.099	long leg	$128K	$31K	5x
Perpl HYPE	0.0000%	43m	93.098	−0.001%	$23K	$330K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.141	+0.045%	$25K	—	150x	as long as short
BingX HYPE-USDT	+0.0016%	4h	93.158	+0.064%	—	$54.2M	—	as long as short
Bybit HYPEUSDT	+0.0028%	8h	93.150	+0.055%	$319.5M	$281.3M	75x	as long as short
Phoenix HYPE	+0.0034%	1h	93.318	+0.236%	$212K	$1.2M	10x	as long as short
Binance HYPEUSDT	+0.0035%	4h	93.135	+0.039%	$378.7M	$902.0M	75x	as long as short
MEXC HYPE_USDT	+0.0036%	4h	93.170	+0.077%	$85.8M	$81.5M	100x	as long as short
Derive HYPE-PERP	+0.0039%	1h	93.100	+0.001%	$16.2M	$7.6M	10x	as long as short
edgeX HYPEUSDC	+0.0059%	4h	93.202	+0.111%	$5.0M	$29.7M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0066%	8h	93.158	+0.064%	$114.9M	$314.0M	50x	as long as short
Bullet HYPE-USD	+0.0067%	1h	93.118	+0.021%	$112K	$578K	20x	as long as short
Phemex HYPEUSDT	+0.0072%	8h	93.170	+0.077%	$12.6M	$2.7M	50x	as long as short
Aevo HYPE-PERP	+0.0088%	1h	93.144	+0.049%	$396K	$177K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.158	+0.064%	$17.8M	$59.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.157	+0.063%	$3.0M	$11.6M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.022	−0.082%	$64K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0098%	8h	93.150	+0.056%	$338K	$165K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.020	−0.085%	$37K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.048	−0.054%	$6.5M	$44.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.205	+0.114%	$2.03B	$669.0M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.141	+0.045%	$10.0M	$14.7M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.152	+0.057%	$45.9M	$18.4M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.166	+0.072%	$225.5M	$100.7M	75x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.991	−0.116%	$30.4M	$54.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.196	+0.105%	$7.5M	$46.3M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.076	−0.024%	$664K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.113	+0.015%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.090	−0.009%	$473K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.129	+0.033%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.149	+0.054%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.250	+0.163%	$203K	$10K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.142	+0.046%	$18.3M	$44.5M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0136%	1h	93.090	−0.009%	$4.9M	$5.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0137%	1h	92.930	−0.181%	$30K	$338K	12x	as long as short
BloFin HYPE-USDT	+0.0145%	4h	93.121	+0.024%	$17.0M	$12.1M	75x	as long as short
RISEx HYPE/USDC	+0.0210%	1h	93.079	−0.021%	$2.7M	$6.7M	20x	as long as short
Kalshi KXHYPEPERP	+0.0252%	8h	93.172	+0.079%	$1.9M	$5.2M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0253%	1h	93.067	−0.034%	$79K	$142K	15x	as long as short
HTX HYPE-USDT	+0.0303%	4h	93.298	+0.214%	$1.5M	$6.1M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0334% / S −0.0158%	1h	93.134	+0.038%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0651%	1h	93.264	+0.178%	$7.4M	$4.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0684%	1h	93.240	+0.151%	$20.8M	$29.9M	50x	as long as short