Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0098%/8h= −10.8% APRpaid last 24h +0.018%

Price spread now: Aftermath Perps against Gate−0.074%7-day average — · you buy dearer than you sell

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

Long on Gate 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

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Aftermath Perps is 0.074% cheaper against Gate than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate HYPE_USDT	93.424	−0.0070	get 0.0035% / 4h	2h 33m	$44.3M	$54.5M	75x
Short	Aftermath Perps HYPEUSD	93.355	−0.0168	pay 0.0021% / 1h	33m 41s	$22K	$21K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps 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 Aftermath PerpsbpOrdersPrice spread, now −0.074%Rate

Funding earned: −$20.62
Price spread: −0.074% → 0.000%: −$7.38
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: −$52
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 5 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 Gate live order book, 5 min ago	0.59 bp	11.3 bp −$11	16.6 bp −$166	29.4 bp −$2,939	52.9 bp −$26.5K
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 54 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	−0.0912%	1h	93.427	+0.004%	$196K	$231K	7x	as long as short
Arcus HYPE-USD	−0.0786%	1h	93.285	−0.149%	$1.2M	$3.9M	10x	as long as short
Aftermath Perps HYPEUSDshort	−0.0168%	1h	93.355	−0.074%	$22K	$21K	10x
Ondo Perps HYPE-USD.P	−0.0117%	1h	93.350	−0.079%	$698K	$986K	10x	as long as short
Phemex HYPEUSDT	−0.0094%	8h	93.517	+0.100%	$12.7M	$2.7M	50x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.559	+0.145%	$3K	$331	25x	as long as short
Backpack HYPE_USDC_PERP	−0.0070%	1h	93.514	+0.096%	$7.8M	$10.4M	20x	as long as short
Gate HYPE_USDTlong	−0.0070%	4h	93.424	long leg	$44.3M	$54.5M	75x
01 Exchange HYPEUSD	−0.0064%	1h	93.429	+0.005%	$85K	$353K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0056%	4h	93.529	+0.112%	$156K	$652K	20x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	−0.0019%	4h	93.529	+0.112%	$8.9M	$36.2M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.439	+0.016%	$128K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.532	+0.115%	$22K	$331K	10x	as long as short
BingX HYPE-USDT	+0.0002%	4h	93.388	−0.039%	—	$53.8M	—	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.557	+0.142%	$26K	—	150x	as long as short
Bybit HYPEUSDT	+0.0006%	8h	93.400	−0.026%	$320.9M	$285.6M	75x	as long as short
MEXC HYPE_USDT	+0.0050%	4h	93.431	+0.007%	$88.0M	$82.7M	100x	as long as short
Binance HYPEUSDT	+0.0054%	4h	93.404	−0.022%	$380.0M	$905.2M	75x	as long as short
edgeX HYPEUSDC	+0.0059%	4h	93.458	+0.036%	$5.1M	$30.0M	30x	as long as short
Phoenix HYPE	+0.0060%	1h	93.170	−0.272%	$210K	$1.2M	10x	as long as short
Bullet HYPE-USD	+0.0060%	1h	93.566	+0.152%	$112K	$579K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0065%	8h	93.381	−0.046%	$114.9M	$314.8M	50x	as long as short
Derive HYPE-PERP	+0.0066%	1h	93.508	+0.090%	$16.2M	$7.7M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0094%	8h	93.458	+0.037%	$339K	$165K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.445	+0.023%	$16.4M	$62.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.449	+0.027%	$3.1M	$11.9M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.385	−0.042%	$66K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.554	+0.139%	$398K	$177K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.350	−0.079%	$21K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.525	+0.108%	$5.7M	$45.2M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.543	+0.127%	$2.04B	$670.0M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.451	+0.029%	$10.0M	$14.8M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.427	+0.003%	$46.0M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.405	−0.020%	$226.0M	$100.4M	75x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.411	−0.014%	$31.0M	$54.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.253	−0.183%	$7.5M	$48.3M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.295	−0.138%	$337K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.511	+0.093%	$667K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.584	+0.171%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.581	+0.168%	$468K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.522	+0.105%	$79K	$173K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.616	+0.206%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.548	+0.133%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.348	−0.082%	$203K	$10K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.350	−0.079%	$18.4M	$44.6M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0136%	1h	93.640	+0.231%	$4.9M	$5.6M	50x	as long as short
Injective HYPE/USDC PERP	+0.0137%	1h	93.390	−0.036%	$30K	$338K	12x	as long as short
RISEx HYPE/USDC	+0.0210%	1h	93.442	+0.019%	$2.7M	$6.7M	20x	as long as short
HTX HYPE-USDT	+0.0223%	4h	93.699	+0.294%	$1.4M	$6.2M	75x	as long as short
Reya HYPERUSDPERP	+0.0254%	1h	93.536	+0.120%	$80K	$142K	15x	as long as short
Kalshi KXHYPEPERP	+0.0266%	8h	93.594	+0.182%	$1.9M	$5.1M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0335% / S −0.0158%	1h	93.570	+0.156%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0455%	1h	93.637	+0.228%	$7.5M	$4.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0681%	1h	93.638	+0.229%	$20.9M	$30.1M	50x	as long as short