Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0467%/8h= −51.1% APRpaid last 24h −0.078%

Price spread now: Aftermath Perps against HTX+0.086%7-day average — · you sell dearer than you buy

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

Long on HTX 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

The price spread pays, funding is against you. Aftermath Perps is 0.086% dearer against HTX than usual: you sell high and buy low (spread +0.086% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 15 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX HYPE-USDT	93.350	0.0100	pay 0.0050% / 4h	2h 40m	$1.4M	$6.4M	75x
Short	Aftermath Perps HYPEUSD	93.431	−0.0367	pay 0.0046% / 1h	40m 50s	$22K	$21K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps against HTX. 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 HTXbpFee Aftermath PerpsbpOrdersPrice spread, now +0.086%Rate

Funding earned: −$98.06
Price spread: +0.086% → 0.000%: $8.65
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: −$110.42
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: HTX: live order book, 3 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 HTX live order book, 3 min ago	0.05 bp	9.7 bp −$10	15.1 bp −$151	48.1 bp −$4,812	doesn't fit
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 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	−0.1760%	1h	93.205	−0.155%	$196K	$232K	7x	as long as short
Aftermath Perps HYPEUSDshort	−0.0367%	1h	93.431	+0.086%	$22K	$21K	10x
Bullet HYPE-USD	−0.0081%	1h	93.186	−0.176%	$111K	$578K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.322	−0.030%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0024%	4h	93.178	−0.184%	$146K	$663K	20x	as long as short
01 Exchange HYPEUSD	−0.0024%	1h	93.252	−0.105%	$87K	$366K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.128	−0.238%	$128K	$29K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.214	−0.146%	$1.8M	$5.6M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.239	−0.119%	$22K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.196	−0.165%	$62K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus HYPE-USD	+0.0011%	1h	93.207	−0.153%	$1.0M	$3.9M	10x	as long as short
Bitget HYPEUSDT	+0.0016%	4h	93.104	−0.264%	$225.2M	$98.9M	75x	as long as short
Ondo Perps HYPE-USD.P	+0.0019%	1h	93.260	−0.096%	$701K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0023%	8h	93.080	−0.289%	$316.2M	$283.7M	75x	as long as short
Phoenix HYPE	+0.0026%	1h	93.305	−0.048%	$209K	$1.2M	10x	as long as short
Phemex HYPEUSDT	+0.0036%	8h	93.209	−0.151%	$12.6M	$2.7M	50x	as long as short
edgeX HYPEUSDC	+0.0084%	4h	93.341	−0.010%	$5.0M	$29.9M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	93.282	−0.073%	$339K	$162K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.108	−0.259%	$16.1M	$63.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.097	−0.271%	$3.1M	$11.4M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.225	−0.134%	$77K	$1.1M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.230	−0.129%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.219	−0.141%	$8.0M	$48.5M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.141	−0.224%	$2.03B	$669.6M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.091	−0.277%	$8.7M	$36.5M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.127	−0.239%	$10.0M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.087	−0.282%	$373.0M	$912.9M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.084	−0.285%	$114.2M	$308.5M	50x	as long as short
Gate HYPE_USDT	+0.0100%	4h	93.072	−0.298%	$46.4M	$54.1M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.090	−0.279%	$90.3M	$80.5M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.084	−0.285%	$46.0M	$18.8M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.082	−0.287%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.181	−0.181%	$7.3M	$10.8M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.140	−0.225%	$28.5M	$56.6M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.468	+0.126%	$7.5M	$47.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.345	−0.005%	$342K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.354	+0.004%	$668K	$2.9M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.298	−0.056%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.237	−0.121%	$501K	$2.7M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.189	−0.172%	$79K	$166K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.164	−0.199%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.218	−0.141%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.190	−0.171%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDTlong	+0.0100%	4h	93.350	long leg	$1.4M	$6.4M	75x
Bulk HYPE-USD	+0.0100%	1h	93.344	−0.006%	$215K	$15K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.039	−0.333%	$18.1M	$43.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.179	−0.184%	$394K	$161K	20x	as long as short
Injective HYPE/USDC PERP	+0.0122%	1h	93.190	−0.171%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.260	−0.096%	$4.8M	$5.6M	50x	as long as short
Reya HYPERUSDPERP	+0.0268%	1h	93.204	−0.157%	$80K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0154%	1h	93.209	−0.151%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.200	−0.161%	$16.8M	$11.9M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0342%	1h	93.264	−0.092%	$20.8M	$29.6M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0415%	1h	93.276	−0.079%	$7.5M	$4.0M	50x	as long as short
RISEx HYPE/USDC	+0.0527%	1h	93.302	−0.051%	$3.2M	$6.2M	20x	as long as short