Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0007%/8h= +0.8% APRpaid last 24h +0.023%

Price spread now: Aevo against OKX−0.009%7-day average +0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$400.399% of the position

Long on OKX Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.079%+$8 on $10k

Price spread, last 3 days (all we have)−0.032%−$3 · spread now −0.009%, 7d avg +0.024%

Together, before fees+0.047%+$5 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: Aevo is 0.033% cheaper against OKX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX HYPE-USDT-SWAP	93.838	0.0089	pay 0.0089% / 8h	5m 48s	$115.8M	$322.4M	50x
Short	Aevo HYPE-PERP	93.830	0.0096	get 0.0012% / 1h	5m 48s	$399K	$318K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against OKX. 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 OKXbpFee AevobpOrdersPrice spread, now −0.009%Rate

Funding earned: $1.56
Price spread: −0.009% → +0.024%: −$3.25
Slippage, 4 orders: −$13.87
Fee OKX: 5 bp × 2 orders: −$10
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$41.56
Costs to cover: 0.399%
Break-even: 193.1 days

Slippage from OKX: live order book, 3 min ago; Aevo: live order book, 8 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 OKX live order book, 3 min ago	0.05 bp	5.1 bp −$5	6.9 bp −$69	15.8 bp −$1,583	doesn't fit
Sell Aevo live order book, 8 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	−0.1320%	1h	93.960	+0.130%	$199K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0367%	1h	93.902	+0.068%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	93.759	−0.084%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0122%	1h	93.750	−0.094%	$704K	$916K	10x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	93.840	+0.002%	$86K	$368K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.872	+0.036%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0004%	4h	93.837	−0.001%	$170K	$593K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.941	+0.110%	$128K	$30K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.859	+0.023%	$23K	$329K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.865	+0.029%	$27K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Derive HYPE-PERP	+0.0003%	1h	93.775	−0.067%	$16.4M	$7.2M	10x	as long as short
Phoenix HYPE	+0.0009%	1h	93.978	+0.149%	$217K	$1.2M	10x	as long as short
Aster HYPEUSDT	+0.0016%	4h	93.868	+0.032%	$8.9M	$36.1M	300x	as long as short
Bybit HYPEUSDT	+0.0019%	8h	93.845	+0.007%	$322.9M	$283.8M	75x	as long as short
Phemex HYPEUSDT	+0.0037%	8h	93.889	+0.054%	$12.8M	$2.6M	50x	as long as short
Binance HYPEUSDT	+0.0050%	4h	93.846	+0.009%	$383.6M	$898.3M	75x	as long as short
MEXC HYPE_USDT	+0.0052%	4h	93.846	+0.009%	$88.3M	$82.3M	100x	as long as short
Popdex HYPEUSDT	+0.0064%	1h	93.851	+0.014%	$60K	$1.2M	50x	as long as short
Gate HYPE_USDT	+0.0068%	4h	93.852	+0.015%	$44.1M	$60.0M	75x	as long as short
edgeX HYPEUSDC	+0.0070%	4h	93.898	+0.064%	$5.1M	$29.7M	30x	as long as short
OKX HYPE-USDT-SWAPlong	+0.0089%	8h	93.838	long leg	$115.8M	$322.4M	50x
Bullet HYPE-USD	+0.0089%	1h	93.824	−0.015%	$112K	$578K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.889	+0.054%	$18.9M	$60.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.866	+0.030%	$3.0M	$12.3M	20x	as long as short
Aevo HYPE-PERPshort	+0.0096%	1h	93.830	−0.009%	$399K	$318K	20x
Katana Perps HYPE-USD	+0.0099%	8h	93.860	+0.023%	$38K	$1.6M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.886	+0.051%	$341K	$171K	20x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.849	+0.011%	$5.7M	$44.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.947	+0.116%	$2.04B	$679.7M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.871	+0.035%	$10.1M	$14.5M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.889	+0.054%	$205K	$7K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.844	+0.006%	$46.5M	$18.6M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.867	+0.031%	$227.3M	$102.1M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.852	+0.015%	—	$54.2M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.869	+0.033%	$7.9M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.812	−0.027%	$31.3M	$54.2M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.967	+0.137%	$7.6M	$45.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.874	+0.038%	$364K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.906	+0.072%	$679K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.879	+0.044%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.867	+0.031%	$471K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.827	−0.012%	$76K	$171K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.873	+0.037%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.828	−0.011%	$2.0M	$2.0M	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.410	+0.610%	$31K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.849	+0.012%	$18.3M	$42.8M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	93.940	+0.109%	$4.9M	$5.7M	50x	as long as short
Kalshi KXHYPEPERP	+0.0156%	8h	93.902	+0.068%	$1.9M	$5.0M	2.3x	as long as short
HTX HYPE-USDT	+0.0192%	4h	94.011	+0.184%	$1.5M	$7.8M	75x	as long as short
BloFin HYPE-USDT	+0.0210%	4h	93.870	+0.034%	$17.0M	$12.6M	75x	as long as short
Reya HYPERUSDPERP	+0.0250%	1h	93.819	−0.021%	$77K	$142K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0283%	1h	93.935	+0.103%	$7.5M	$4.6M	50x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	93.903	+0.070%	$2.8M	$6.8M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0163%	1h	93.861	+0.025%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0578%	1h	93.949	+0.118%	$21.0M	$29.5M	50x	as long as short