Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0461%/8h= −50.5% APRpaid last 24h +0.018%

Price spread now: Aftermath Perps against KuCoin+0.200%7-day average — · you sell dearer than you buy

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

Long on KuCoin 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 0.200% dearer against KuCoin than usual: you sell high and buy low (spread +0.200% now, against zero (this spread has no 7-day history yet)): +$20 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 35 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin HYPEUSDTM	93.006	0.0100	pay 0.0050% / 4h	1h 36m	$47.1M	$18.9M	75x
Short	Aftermath Perps HYPEUSD	93.192	−0.0361	pay 0.0045% / 1h	36m 03s	$22K	$22K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps against KuCoin. 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 KuCoinbpFee Aftermath PerpsbpOrdersPrice spread, now +0.200%Rate

Funding earned: −$96.81
Price spread: +0.200% → 0.000%: $20
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: −$97.81
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: KuCoin: 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 KuCoin live order book, 3 min ago	0.43 bp	9.0 bp −$9	14.8 bp −$148	doesn't fit	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
Aftermath Perps HYPEUSDshort	−0.0361%	1h	93.192	+0.200%	$22K	$22K	10x
Hibachi HYPE/USDT-P	−0.0192%	1h	93.147	+0.152%	$197K	$230K	7x	as long as short
Arcus HYPE-USD	−0.0131%	1h	93.027	+0.023%	$1.2M	$4.0M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0105%	1h	93.070	+0.069%	$698K	$923K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.118	+0.120%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0016%	1h	93.044	+0.041%	$90K	$362K	20x	as long as short
Popdex HYPEUSDT	−0.0008%	1h	93.039	+0.035%	$58K	$1.2M	50x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.114	+0.116%	$127K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.046	+0.043%	$23K	$331K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.060	+0.058%	$20K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0005%	4h	92.989	−0.018%	$8.8M	$36.0M	300x	as long as short
Bybit HYPEUSDT	+0.0027%	8h	93.010	+0.004%	$322.8M	$286.9M	75x	as long as short
Orderly PERP_HYPE_USDC	+0.0031%	4h	93.051	+0.048%	$171K	$519K	20x	as long as short
Derive HYPE-PERP	+0.0031%	1h	92.993	−0.014%	$16.3M	$7.1M	10x	as long as short
Phoenix HYPE	+0.0034%	1h	93.374	+0.396%	$214K	$1.2M	10x	as long as short
Bullet HYPE-USD	+0.0035%	1h	93.010	+0.004%	$111K	$579K	20x	as long as short
Gate HYPE_USDT	+0.0040%	4h	92.991	−0.016%	$43.8M	$58.0M	75x	as long as short
MEXC HYPE_USDT	+0.0088%	4h	92.986	−0.022%	$89.7M	$81.8M	100x	as long as short
Binance HYPEUSDT	+0.0089%	4h	93.015	+0.010%	$382.4M	$892.8M	75x	as long as short
Lighter HYPE	+0.0096%	1h	93.036	+0.033%	$18.5M	$58.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.021	+0.016%	$3.1M	$12.1M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0098%	8h	93.067	+0.066%	$338K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.060	+0.058%	$40K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.035	+0.031%	$5.9M	$44.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.021	+0.016%	$2.02B	$670.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.084	+0.083%	$10.0M	$14.3M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.014	+0.009%	$113.6M	$313.3M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.390	+0.413%	$204K	$10K	10x	as long as short
KuCoin HYPEUSDTMlong	+0.0100%	4h	93.006	long leg	$47.1M	$18.9M	75x
Bitget HYPEUSDT	+0.0100%	4h	92.998	−0.009%	$225.4M	$102.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	92.980	−0.028%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.011	+0.005%	$7.8M	$11.2M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.354	+0.374%	$29.0M	$50.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.268	+0.281%	$7.5M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.246	+0.258%	$412K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.129	+0.132%	$674K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.096	+0.097%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.067	+0.066%	$492K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.017	+0.012%	$76K	$167K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.069	+0.068%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.005	−0.001%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.047	+0.044%	$12.7M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.000	−0.007%	$18.2M	$42.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.998	−0.008%	$396K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0106%	4h	93.228	+0.239%	$5.1M	$29.6M	30x	as long as short
Kalshi KXHYPEPERP	+0.0106%	8h	93.149	+0.154%	$1.9M	$5.3M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.120	+0.123%	$4.9M	$5.7M	50x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	93.070	+0.069%	$30K	$338K	12x	as long as short
Reya HYPERUSDPERP	+0.0247%	1h	93.017	+0.012%	$77K	$158K	15x	as long as short
HTX HYPE-USDT	+0.0257%	4h	93.200	+0.209%	$1.5M	$7.7M	75x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.113	+0.115%	$2.8M	$6.8M	20x	as long as short
BloFin HYPE-USDT	+0.0329%	4h	93.087	+0.087%	$16.9M	$12.4M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0340% / S −0.0159%	1h	93.052	+0.049%	$1.5M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0416%	1h	93.131	+0.134%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0467%	1h	93.092	+0.092%	$20.8M	$28.9M	50x	as long as short