Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0077%/8h= −8.5% APRpaid last 24h −0.019%

Price spread now: Aster against Extended+0.033%7-day average +0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$150.152% of the position

Long on Extended Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.064%−$6 on $10k

Price spread, last 7 days−0.035%−$3 · spread now +0.033%, 7d avg +0.020%

Together, before fees−0.099%+ Points / potential airdropExtended: Active · Aster: Stage 5 · farm board−$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.020%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended HYPE-USD	93.303	0.0104	pay 0.0013% / 1h	19m 08s	$18.4M	$43.7M	50x
Short	Aster HYPEUSDT	93.334	0.0027	get 0.0013% / 4h	1h 19m	$8.8M	$35.6M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Extended. 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 ExtendedbpFee AsterbpOrdersPrice spread, now +0.033%Rate

Funding earned: −$16.23
Price spread: +0.033% → +0.020%: $1.35
Slippage, 4 orders: −$2.16
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Aster: 4 bp × 2 orders: −$8
Net: −$30.04
Costs to cover: 0.152%
Break-even: never at this rate

Slippage from Extended: live order book, 5 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 Extended live order book, 5 min ago	0.05 bp	2.8 bp −$3	5.4 bp −$54	26.7 bp −$2,666	doesn't fit
Sell Aster live order book, 5 min ago	0.64 bp	4.7 bp −$5	5.1 bp −$51	14.4 bp −$1,441	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	−0.1088%	1h	93.263	−0.043%	$197K	$227K	7x	as long as short
Arcus HYPE-USD	−0.0899%	1h	93.226	−0.083%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0126%	1h	93.230	−0.078%	$699K	$1.0M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.331	+0.030%	$3K	$331	25x	as long as short
Aftermath Perps HYPEUSD	−0.0061%	1h	93.374	+0.077%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0056%	1h	93.363	+0.064%	$85K	$343K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0047%	4h	93.304	+0.001%	$154K	$652K	20x	as long as short
Phemex HYPEUSDT	−0.0029%	8h	93.326	+0.025%	$12.6M	$2.7M	50x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.320	+0.019%	$128K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.337	+0.036%	$23K	$319K	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.347	+0.047%	$63K	—	150x	as long as short
Bullet HYPE-USD	+0.0004%	1h	93.338	+0.038%	$111K	$578K	20x	as long as short
Phoenix HYPE	+0.0026%	1h	93.480	+0.190%	$213K	$1.2M	10x	as long as short
Aster HYPEUSDTshort	+0.0027%	4h	93.334	+0.033%	$8.8M	$35.6M	300x
BingX HYPE-USDT	+0.0034%	4h	93.324	+0.023%	—	$52.9M	—	as long as short
Bybit HYPEUSDT	+0.0043%	8h	93.316	+0.014%	$321.3M	$277.1M	75x	as long as short
Gate HYPE_USDT	+0.0048%	4h	93.320	+0.018%	$44.6M	$55.2M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0076%	8h	93.316	+0.014%	$113.9M	$300.6M	50x	as long as short
Derive HYPE-PERP	+0.0082%	1h	93.307	+0.004%	$16.2M	$7.5M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.344	+0.044%	$16.2M	$62.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.339	+0.039%	$3.1M	$11.6M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.334	+0.033%	$70K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.382	+0.085%	$339K	$162K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.380	+0.083%	$12K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.338	+0.037%	$5.8M	$43.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.416	+0.121%	$2.04B	$653.7M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.367	+0.069%	$10.0M	$14.8M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.331	+0.030%	$378.7M	$876.6M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.332	+0.031%	$89.4M	$80.9M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.339	+0.039%	$45.9M	$18.2M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.328	+0.027%	$225.7M	$96.6M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.322	+0.020%	$7.4M	$10.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.358	+0.059%	$31.1M	$53.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.441	+0.148%	$7.6M	$45.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.412	+0.117%	$339K	$997K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.440	+0.147%	$667K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.377	+0.080%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.376	+0.078%	$475K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.372	+0.074%	$79K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.362	+0.063%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.325	+0.024%	$2.0M	$1.9M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.217	−0.092%	$203K	$10K	10x	as long as short
Extended HYPE-USDlong	+0.0104%	1h	93.303	long leg	$18.4M	$43.7M	50x
Aevo HYPE-PERP	+0.0104%	1h	93.321	+0.019%	$397K	$162K	20x	as long as short
edgeX HYPEUSDC	+0.0110%	4h	93.367	+0.069%	$5.1M	$29.1M	30x	as long as short
HTX HYPE-USDT	+0.0159%	4h	93.450	+0.158%	$1.4M	$6.0M	75x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.370	+0.072%	$4.8M	$5.6M	50x	as long as short
Reya HYPERUSDPERP	+0.0259%	1h	93.320	+0.018%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0273%	8h	93.356	+0.057%	$1.9M	$5.1M	2.3x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0296%	1h	93.416	+0.121%	$7.4M	$4.4M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0156%	1h	93.362	+0.063%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.353	+0.054%	$16.9M	$11.6M	75x	as long as short
RISEx HYPE/USDC	+0.0510%	1h	93.430	+0.137%	$3.2M	$6.3M	20x	as long as short
Injective HYPE/USDC PERP	+0.0519%	1h	93.730	+0.458%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0685%	1h	93.404	+0.108%	$20.7M	$29.8M	50x	as long as short