Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0013%/8h= +1.4% APRpaid last 24h −0.004%

Price spread now: Aevo against Paradex−0.132%7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$93as in the Price arb table

costs, in and out, $10k−$810.813% of the position

Long on Paradex Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.006%+$1 on $10k

Price spread, last 4 days (all we have)+0.008%+$1 · spread now −0.132%, 7d avg −0.019%

Together, before fees+0.014%+ Points / potential airdropParadex: Active · farm board+$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aevo is 0.113% cheaper against Paradex than usual: you would sell low and buy high (spread −0.132% now, against its 7-day average of −0.019%). If the spread goes back, that is −$11 on $10k: about 29 days of funding at the current rate ($0 a day). At the pace of the last 4 days (+0.006% in total) that is about 2 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex HYPE-USD-PERP	92.288	0.0091	pay 0.0091% / 8h	4h 48m	$337K	$162K	20x
Short	Aevo HYPE-PERP	92.166	0.0104	get 0.0013% / 1h	48m 18s	$390K	$164K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Paradex. 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 ParadexbpFee AevobpOrdersPrice spread, now −0.132%Rate

Funding earned: $2.7
Price spread: −0.132% → −0.019%: −$11.33
Slippage, 4 orders: −$61.35
Fee Paradex: 2 bp × 2 orders: −$4
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$89.97
Costs to cover: 0.813%
Break-even: 240.2 days

Slippage from Paradex: live order book, 11 min ago; Aevo: live order book, 11 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 Paradex live order book, 11 min ago	12.88 bp	14.9 bp −$15	149.0 bp −$1,490	doesn't fit	doesn't fit
Sell Aevo live order book, 11 min ago	17.65 bp	25.9 bp −$26	26.0 bp −$260	30.7 bp −$3,067	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
Arcus HYPE-USD	−0.0948%	1h	92.181	−0.116%	$1.2M	$3.8M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0680%	1h	92.323	+0.038%	$194K	$227K	7x	as long as short
01 Exchange HYPEUSD	−0.0120%	1h	92.171	−0.126%	$86K	$352K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0116%	1h	92.540	+0.273%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.337	+0.053%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0074%	1h	92.177	−0.119%	$110K	$580K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0068%	4h	92.179	−0.118%	$157K	$663K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0051%	1h	92.230	−0.062%	$699K	$1.1M	10x	as long as short
Aster HYPEUSDT	−0.0009%	4h	92.227	−0.065%	$8.7M	$36.4M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.322	+0.037%	$127K	$31K	5x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	92.216	−0.078%	$22K	$310K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.214	−0.080%	$61K	—	150x	as long as short
BingX HYPE-USDT	+0.0032%	4h	92.185	−0.111%	—	$53.2M	—	as long as short
Bybit HYPEUSDT	+0.0037%	8h	92.184	−0.112%	$315.5M	$280.6M	75x	as long as short
Derive HYPE-PERP	+0.0041%	1h	92.155	−0.144%	$16.0M	$7.5M	10x	as long as short
Phoenix HYPE	+0.0043%	1h	92.430	+0.154%	$210K	$1.2M	10x	as long as short
Gate HYPE_USDT	+0.0046%	4h	92.179	−0.118%	$44.3M	$54.6M	75x	as long as short
Phemex HYPEUSDT	+0.0052%	8h	92.223	−0.070%	$12.4M	$2.7M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0075%	8h	92.182	−0.114%	$112.6M	$300.3M	50x	as long as short
Binance HYPEUSDT	+0.0078%	4h	92.175	−0.122%	$370.6M	$895.7M	75x	as long as short
MEXC HYPE_USDT	+0.0078%	4h	92.189	−0.107%	$87.1M	$80.3M	100x	as long as short
Popdex HYPEUSDT	+0.0080%	1h	92.198	−0.097%	$67K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERPlong	+0.0091%	8h	92.288	long leg	$337K	$162K	20x
Lighter HYPE	+0.0096%	1h	92.185	−0.111%	$16.0M	$62.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.268	−0.021%	$3.1M	$11.6M	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.200	−0.095%	$13K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.266	−0.024%	$5.8M	$43.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.264	−0.026%	$2.01B	$662.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.287	−0.001%	$10.0M	$15.0M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.800	+0.555%	$202K	$13K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.201	−0.094%	$45.7M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.170	−0.127%	$223.0M	$97.9M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.280	−0.008%	$7.3M	$10.2M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.469	+0.196%	$28.5M	$57.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.799	+0.554%	$7.5M	$45.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.488	+0.217%	$338K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.373	+0.092%	$662K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.276	−0.012%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.241	−0.051%	$474K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.222	−0.071%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.174	−0.123%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.350	+0.068%	$1.4M	$6.2M	75x	as long as short
edgeX HYPEUSDC	+0.0103%	4h	92.776	+0.529%	$5.1M	$29.2M	30x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.150	−0.149%	$18.1M	$43.4M	50x	as long as short
Aevo HYPE-PERPshort	+0.0104%	1h	92.166	−0.132%	$390K	$164K	20x
Injective HYPE/USDC PERP	+0.0150%	1h	92.250	−0.041%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.240	−0.052%	$4.7M	$5.5M	50x	as long as short
Reya HYPERUSDPERP	+0.0260%	1h	92.186	−0.111%	$78K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0261%	8h	92.370	+0.089%	$1.8M	$5.4M	2.3x	as long as short
BloFin HYPE-USDT	+0.0316%	4h	92.252	−0.039%	$16.7M	$11.5M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0329% / S −0.0153%	1h	92.205	−0.089%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0334%	1h	92.212	−0.082%	$20.5M	$30.4M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0401%	1h	92.269	−0.020%	$7.5M	$4.4M	50x	as long as short
Bluefin HYPE-PERP	+0.0666%	1h	92.173	−0.124%	$78K	$168K	20x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.338	+0.055%	$3.1M	$6.4M	20x	as long as short