Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0139%/8h= −15.2% APRpaid last 24h +0.006%

Price spread now: Aftermath Perps against OKX+0.175%7-day average — · you sell dearer than you buy

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

Long on OKX 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 0.175% dearer against OKX than usual: you sell high and buy low (spread +0.175% now, against zero (this spread has no 7-day history yet)): +$18 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 4.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX HYPE-USDT-SWAP	93.215	0.0076	pay 0.0076% / 8h	5h 15m	$113.8M	$300.5M	50x
Short	Aftermath Perps HYPEUSD	93.378	−0.0063	pay 0.0008% / 1h	15m 58s	$22K	$21K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps 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 Aftermath PerpsbpOrdersPrice spread, now +0.175%Rate

Funding earned: −$29.17
Price spread: +0.175% → 0.000%: $17.54
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: −$30.63
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: OKX: 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 OKX live order book, 3 min ago	0.05 bp	5.5 bp −$6	8.7 bp −$87	19.8 bp −$1,975	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	−0.1064%	1h	93.274	+0.063%	$197K	$227K	7x	as long as short
Arcus HYPE-USD	−0.0899%	1h	93.276	+0.065%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0131%	1h	93.270	+0.059%	$699K	$1.0M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.366	+0.162%	$3K	$331	25x	as long as short
Aftermath Perps HYPEUSDshort	−0.0063%	1h	93.378	+0.175%	$22K	$21K	10x
01 Exchange HYPEUSD	−0.0056%	1h	93.401	+0.200%	$85K	$343K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0047%	4h	93.378	+0.175%	$154K	$652K	20x	as long as short
Phemex HYPEUSDT	−0.0028%	8h	93.397	+0.195%	$12.6M	$2.7M	50x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.420	+0.220%	$128K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.394	+0.192%	$23K	$319K	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.413	+0.212%	$63K	—	150x	as long as short
Bullet HYPE-USD	+0.0025%	1h	93.404	+0.203%	$112K	$578K	20x	as long as short
Phoenix HYPE	+0.0026%	1h	93.367	+0.163%	$213K	$1.2M	10x	as long as short
Aster HYPEUSDT	+0.0028%	4h	93.382	+0.179%	$8.8M	$35.8M	300x	as long as short
BingX HYPE-USDT	+0.0034%	4h	93.277	+0.067%	—	$52.9M	—	as long as short
Bybit HYPEUSDT	+0.0043%	8h	93.220	+0.005%	$320.7M	$277.7M	75x	as long as short
Gate HYPE_USDT	+0.0044%	4h	93.271	+0.060%	$44.6M	$55.3M	75x	as long as short
OKX HYPE-USDT-SWAPlong	+0.0076%	8h	93.215	long leg	$113.8M	$300.5M	50x
Derive HYPE-PERP	+0.0082%	1h	93.373	+0.169%	$16.2M	$7.5M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.419	+0.219%	$16.3M	$62.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.418	+0.218%	$3.1M	$11.6M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.369	+0.165%	$71K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.421	+0.221%	$339K	$162K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.340	+0.134%	$12K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.401	+0.200%	$5.8M	$43.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.344	+0.138%	$2.03B	$656.1M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.398	+0.196%	$10.0M	$14.8M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.289	+0.079%	$378.5M	$880.2M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.279	+0.069%	$89.7M	$81.0M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.316	+0.108%	$45.9M	$18.2M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.186	−0.031%	$225.4M	$96.5M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.260	+0.048%	$7.4M	$10.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.377	+0.174%	$31.1M	$53.8M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.354	+0.149%	$7.5M	$45.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.412	+0.211%	$339K	$997K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.347	+0.142%	$666K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.408	+0.207%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.426	+0.226%	$482K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.389	+0.187%	$79K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.445	+0.247%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.409	+0.208%	$2.0M	$1.9M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.217	+0.003%	$203K	$10K	10x	as long as short
edgeX HYPEUSDC	+0.0102%	4h	93.298	+0.089%	$5.0M	$29.1M	30x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.384	+0.181%	$18.4M	$43.7M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.406	+0.205%	$397K	$162K	20x	as long as short
HTX HYPE-USDT	+0.0152%	4h	93.518	+0.325%	$1.4M	$6.0M	75x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.420	+0.220%	$4.8M	$5.6M	50x	as long as short
Reya HYPERUSDPERP	+0.0259%	1h	93.378	+0.175%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0272%	8h	93.358	+0.153%	$1.9M	$5.2M	2.3x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0285%	1h	93.483	+0.288%	$7.5M	$4.4M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0156%	1h	93.410	+0.209%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.320	+0.113%	$17.0M	$11.5M	75x	as long as short
RISEx HYPE/USDC	+0.0510%	1h	93.466	+0.270%	$3.2M	$6.3M	20x	as long as short
Injective HYPE/USDC PERP	+0.0519%	1h	93.730	+0.552%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0685%	1h	93.472	+0.276%	$20.8M	$29.8M	50x	as long as short