Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0178%/8h= +19.5% APRpaid last 24h +0.032%

Price spread now: Aevo against Gate−0.061%7-day average +0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$490.495% of the position

Long on Gate Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.097%+$10 on $10k

Price spread, last 3 days (all we have)+0.067%+$7 · spread now −0.061%, 7d avg +0.024%

Together, before fees+0.164%+$16 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aevo is 0.085% cheaper against Gate than usual: you would sell low and buy high (spread −0.061% now, against its 7-day average of +0.024%). If the spread goes back, that is −$8 on $10k: about 38 hours of funding at the current rate (+$5 a day). At the pace of the last 7 days (+0.097% in total) that is about 6.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate HYPE_USDT	93.641	−0.0082	get 0.0041% / 4h	3h 19m	$44.4M	$60.0M	75x
Short	Aevo HYPE-PERP	93.584	0.0096	get 0.0012% / 1h	19m 14s	$398K	$180K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Gate. 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 GatebpFee AevobpOrdersPrice spread, now −0.061%Rate

Funding earned: $37.38
Price spread: −0.061% → +0.024%: −$8.47
Slippage, 4 orders: −$18.47
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$20.56
Costs to cover: 0.495%
Break-even: 10.9 days

Slippage from Gate: live order book, 5 min ago; Aevo: live order book, 55 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 Gate live order book, 5 min ago	0.80 bp	10.8 bp −$11	16.2 bp −$162	34.1 bp −$3,410	65.9 bp −$32.9K
Sell Aevo live order book, 55 min ago	2.31 bp	16.2 bp −$16	19.4 bp −$194	22.0 bp −$2,197	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	−0.1312%	1h	93.756	+0.123%	$198K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0625%	1h	93.675	+0.036%	$1.2M	$3.8M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0194%	1h	94.033	+0.419%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0153%	1h	93.910	+0.287%	$710K	$959K	10x	as long as short
dYdX HYPE-USD	−0.0111%	1h	93.863	+0.237%	$129K	$31K	5x	as long as short
Bullet HYPE-USD	−0.0100%	1h	93.644	+0.003%	$112K	$581K	20x	as long as short
01 Exchange HYPEUSD	−0.0088%	1h	93.769	+0.137%	$86K	$360K	20x	as long as short
Gate HYPE_USDTlong	−0.0082%	4h	93.641	long leg	$44.4M	$60.0M	75x
Hotstuff HYPE-PERP	−0.0080%	1h	93.782	+0.151%	$3K	$331	25x	as long as short
Bybit HYPEUSDT	−0.0029%	8h	93.502	−0.148%	$321.3M	$280.3M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_HYPE_USDC	−0.0025%	4h	93.609	−0.034%	$159K	$645K	20x	as long as short
Phemex HYPEUSDT	−0.0017%	8h	93.548	−0.099%	$12.7M	$2.6M	50x	as long as short
Perpl HYPE	0.0000%	43m	93.769	+0.137%	$23K	$326K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.683	+0.045%	$27K	—	150x	as long as short
Aster HYPEUSDT	+0.0007%	4h	93.736	+0.102%	$8.9M	$36.1M	300x	as long as short
Derive HYPE-PERP	+0.0011%	1h	93.575	−0.071%	$16.4M	$7.3M	10x	as long as short
Phoenix HYPE	+0.0034%	1h	94.149	+0.542%	$219K	$1.2M	10x	as long as short
Binance HYPEUSDT	+0.0045%	4h	93.558	−0.088%	$381.6M	$893.6M	75x	as long as short
MEXC HYPE_USDT	+0.0048%	4h	93.755	+0.122%	$88.3M	$83.0M	100x	as long as short
edgeX HYPEUSDC	+0.0057%	4h	93.961	+0.342%	$5.1M	$30.0M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0074%	8h	93.514	−0.136%	$115.5M	$316.2M	50x	as long as short
Bluefin HYPE-PERP	+0.0085%	1h	93.617	−0.026%	$76K	$170K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.611	−0.032%	$19.1M	$60.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.607	−0.036%	$3.0M	$12.2M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.793	+0.162%	$64K	$1.2M	50x	as long as short
Aevo HYPE-PERPshort	+0.0096%	1h	93.584	−0.061%	$398K	$180K	20x
Paradex HYPE-USD-PERP	+0.0099%	8h	93.794	+0.164%	$341K	$165K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.800	+0.170%	$20K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.757	+0.123%	$6.6M	$44.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.874	+0.249%	$2.05B	$673.6M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.786	+0.155%	$10.2M	$14.6M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.799	+0.169%	$46.7M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.596	−0.048%	$226.9M	$101.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.648	+0.007%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.832	+0.204%	$7.7M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.939	+0.319%	$31.4M	$54.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.991	+0.374%	$7.6M	$46.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.940	+0.319%	$340K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.838	+0.210%	$679K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.847	+0.220%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.793	+0.162%	$480K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.687	+0.049%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.561	−0.085%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.151	+0.544%	$205K	$2K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.596	−0.048%	$18.8M	$44.5M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.660	+0.020%	$4.9M	$5.5M	50x	as long as short
BloFin HYPE-USDT	+0.0179%	4h	93.552	−0.095%	$17.0M	$12.1M	75x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.490	+0.907%	$31K	$338K	12x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	93.822	+0.194%	$2.7M	$6.8M	20x	as long as short
Kalshi KXHYPEPERP	+0.0227%	8h	93.641	0.000%	$1.9M	$5.1M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0252%	1h	93.754	+0.120%	$79K	$142K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0333% / S −0.0155%	1h	93.676	+0.038%	$1.4M	—	100x	as long as short
HTX HYPE-USDT	+0.0374%	4h	93.750	+0.116%	$1.5M	$6.1M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0401%	1h	93.711	+0.075%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0674%	1h	93.648	+0.008%	$20.9M	$29.8M	50x	as long as short