Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.019%

Price spread now: Aster against GRVT+0.196%100s7-day average −0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$200.201% of the position

Long on GRVT Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.043%−$4 on $10k

Price spread, last 7 days−0.187%−$19 · spread now +0.196%, 7d avg −0.023%

Together, before fees−0.229%+ Points / potential airdropGRVT: Active · Aster: Stage 5 · farm board−$23 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aster is 0.219% dearer against GRVT than usual: you sell high and buy low, +$22 on $10k if it goes back to its 7-day average of −0.023%. The two prices were read 100 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT HYPE_USDT_Perp	94.189	0.0100	pay 0.0050% / 4h	1h 07m	$7.6M	$46.8M	10x
Short	Aster HYPEUSDT	94.373	0.0100	get 0.0050% / 4h	1h 07m	$8.8M	$37.2M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against GRVT. 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 GRVTbpFee AsterbpOrdersPrice spread, now +0.196%Rate

Funding earned: $0
Price spread: +0.196% → −0.023%: $21.86
Slippage, 4 orders: −$3.12
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Aster: 4 bp × 2 orders: −$8
Net: $1.75
Costs to cover: 0.201%
Break-even: from the start

Slippage from GRVT: live order book, 6 min ago; Aster: live order book, 1 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 GRVT live order book, 6 min ago	0.05 bp	4.6 bp −$5	5.9 bp −$59	5450.2 bp −$545.0K	doesn't fit
Sell Aster live order book, 1 min ago	0.90 bp	4.9 bp −$5	5.3 bp −$53	12.0 bp −$1,204	doesn't fit

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	−0.1136%	1h	94.129	−0.064%	$200K	$236K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0155%	1h	94.267	+0.083%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0092%	1h	94.180	−0.010%	$710K	$1.2M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.313	+0.132%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0068%	1h	94.353	+0.174%	$111K	$578K	20x	as long as short
01 Exchange HYPEUSD	−0.0048%	1h	94.338	+0.158%	$87K	$367K	20x	as long as short
Bluefin HYPE-PERP	−0.0031%	1h	94.364	+0.186%	$80K	$155K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0013%	4h	94.345	+0.165%	$146K	$686K	20x	as long as short
Bybit HYPEUSDT	−0.0005%	8h	94.350	+0.171%	$317.8M	$289.2M	75x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.312	+0.130%	$129K	$26K	5x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXHYPEPERP	0.0000%	8h	94.435	+0.261%	$1.8M	$5.6M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.366	+0.188%	$19K	$287K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.370	+0.192%	$117K	—	150x	as long as short
Phoenix HYPE	+0.0017%	1h	94.223	+0.036%	$207K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0054%	4h	94.363	+0.185%	$227.2M	$99.7M	75x	as long as short
Phemex HYPEUSDT	+0.0056%	8h	94.373	+0.195%	$12.9M	$2.8M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0071%	8h	94.371	+0.193%	$337K	$156K	20x	as long as short
edgeX HYPEUSDC	+0.0083%	4h	94.173	−0.017%	$5.0M	$30.6M	30x	as long as short
Arcus HYPE-USD	+0.0084%	1h	94.298	+0.116%	$1.0M	$3.5M	10x	as long as short
OKX HYPE-USDT-SWAP	+0.0096%	8h	94.367	+0.189%	$116.5M	$320.3M	50x	as long as short
Lighter HYPE	+0.0096%	1h	94.364	+0.186%	$16.3M	$64.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.368	+0.190%	$3.2M	$11.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.315	+0.134%	$79K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.280	+0.096%	$13K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.320	+0.139%	$7.4M	$50.6M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.473	+0.301%	$2.08B	$687.1M	10x	as long as short
Aster HYPEUSDTshort	+0.0100%	4h	94.373	+0.196%	$8.8M	$37.2M	300x
Pacifica HYPE	+0.0100%	1h	94.346	+0.167%	$10.2M	$15.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.381	+0.204%	$377.7M	$931.1M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.183	−0.007%	$217K	$15K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.379	+0.202%	$49.4M	$57.0M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.381	+0.204%	$90.0M	$85.4M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.402	+0.226%	$47.0M	$18.5M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.371	+0.193%	—	$53.5M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.375	+0.197%	$7.5M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.138	−0.055%	$29.1M	$55.3M	—	as long as short
GRVT HYPE_USDT_Perplong	+0.0100%	4h	94.189	long leg	$7.6M	$46.8M	10x
ApeX Omni HYPEUSDT	+0.0100%	1h	94.149	−0.043%	$362K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.193	+0.004%	$681K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.376	+0.198%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.375	+0.197%	$496K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.388	+0.211%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.389	+0.212%	$2.1M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.500	+0.330%	$1.4M	$6.8M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.358	+0.179%	$18.2M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.367	+0.189%	$399K	$159K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	94.350	+0.171%	$4.7M	$6.2M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0151% / S +0.0022%	1h	94.411	+0.236%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.090	−0.105%	$30K	$340K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0237%	1h	94.461	+0.289%	$7.5M	$4.3M	50x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.332	+0.152%	$83K	$134K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.227	+0.040%	$16.9M	$12.3M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0412%	1h	94.436	+0.262%	$20.2M	$30.3M	50x	as long as short
RISEx HYPE/USDC	+0.0559%	1h	94.350	+0.171%	$3.2M	$6.4M	20x	as long as short