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Funding arb · Price arb /

HYPE

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 02:00 UTC+0.0252%/8h= +27.6% APRpaid last 24h +0.007%
Price spread now: Aevo against Phemex+0.041%7-day average −0.008% · you sell dearer than you buy
Net, funding: paid 7d − costs−$71as in the Funding arb table
Net, price: spread back to 7d avg − costs−$67as in the Price arb table
costs, in and out, $10k−$720.720% of the position
Long on PhemexShort on Aevo
What this pair did over the last
the charts below follow
Funding, last 7 days+0.014%+$1 on $10k
Price spread, last 3 days (all we have)−0.026%−$3 · spread now +0.041%, 7d avg −0.008%
Together, before fees−0.011%−$1 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Aevo is 0.049% dearer against Phemex than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.008%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.014% in total (about 0.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhemex HYPEUSDT93.853−0.0156get 0.0156% / 8h6h 26m$12.7M$2.7M50x
ShortAevo HYPE-PERP93.8910.0096get 0.0012% / 1h26m 40s$399K$177K20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Aevo against Phemex. 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

Funding earned
$52.93
Price spread: +0.041% → −0.008%
$4.86
Slippage, 4 orders
−$44.05
Fee Phemex: 6 bp × 2 orders
−$12
Fee Aevo: 8 bp × 2 orders
−$16
Net
−$14.25
Costs to cover
0.720%
Break-even
8.9 days
Slippage from Phemex: live order book, 2 min ago; Aevo: live order book, 42 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Phemex live order book, 2 min ago2.51 bp22.8 bp −$2337.4 bp −$374doesn't fitdoesn't fit
Sell Aevo live order book, 42 min ago7.76 bp15.8 bp −$1615.8 bp −$15826.5 bp −$2,654doesn't fit

HYPE on 54 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-P−0.0920%1h93.818−0.037%$197K$229K7xas long as short
Arcus HYPE-USD−0.0786%1h93.807−0.049%$1.2M$3.8M10xas long as short
Phemex HYPEUSDTlong−0.0156%8h93.853long leg$12.7M$2.7M50x
Aftermath Perps HYPEUSD−0.0140%1h93.712−0.151%$22K$21K10xas long as short
Ondo Perps HYPE-USD.P−0.0083%1h93.910+0.061%$701K$938K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.973+0.128%$3K$33125xas long as short
Orderly PERP_HYPE_USDC−0.0056%4h93.869+0.017%$157K$648K20xas long as short
01 Exchange HYPEUSD−0.0048%1h93.919+0.070%$85K$350K20xas long as short
Backpack HYPE_USDC_PERP−0.0044%1h93.821−0.034%$7.8M$10.3M20xas long as short
Gate HYPE_USDT−0.0036%4h93.857+0.004%$44.4M$54.9M75xas long as short
Show all 54 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX HYPE-USDT−0.0002%4h93.852−0.001%—$53.7M—as long as short
Aster HYPEUSDT−0.0001%4h93.888+0.037%$8.9M$35.9M300xas long as short
dYdX HYPE-USD0.0000%1h93.869+0.017%$129K$31K5xas long as short
Bybit HYPEUSDT0.0000%8h93.910+0.061%$322.5M$281.3M75xas long as short
Perpl HYPE0.0000%43m93.929+0.081%$22K$326K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0003%1h93.910+0.061%$26K—150xas long as short
Phoenix HYPE+0.0060%1h93.904+0.054%$211K$1.2M10xas long as short
Bullet HYPE-USD+0.0064%1h93.922+0.074%$112K$578K20xas long as short
MEXC HYPE_USDT+0.0066%4h93.895+0.045%$87.9M$82.9M100xas long as short
Binance HYPEUSDT+0.0068%4h93.888+0.037%$382.1M$894.9M75xas long as short
OKX HYPE-USDT-SWAP+0.0068%8h93.903+0.053%$115.4M$309.2M50xas long as short
edgeX HYPEUSDC+0.0071%4h93.800−0.056%$5.1M$29.9M30xas long as short
Paradex HYPE-USD-PERP+0.0095%8h93.955+0.109%$341K$164K20xas long as short
Lighter HYPE+0.0096%1h93.901+0.051%$16.4M$62.5M20xas long as short
Lighter RH HYPE+0.0096%1h93.896+0.046%$3.1M$11.9M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.903+0.053%$66K$1.2M50xas long as short
Aevo HYPE-PERPshort+0.0096%1h93.891+0.041%$399K$177K20x
Derive HYPE-PERP+0.0100%1h93.843−0.010%$16.3M$7.7M10xas long as short
Katana Perps HYPE-USD+0.0100%8h93.890+0.039%$21K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.963+0.118%$5.8M$45.1M10xas long as short
Hyperliquid HYPE+0.0100%1h93.977+0.132%$2.05B$672.3M10xas long as short
Pacifica HYPE+0.0100%1h93.919+0.070%$10.1M$14.7M20xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.932+0.084%$46.5M$18.1M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.872+0.020%$227.5M$98.7M75xas long as short
Variational Omni HYPE+0.0100%8h93.610−0.258%$31.0M$54.8M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.824−0.031%$7.6M$47.7M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.834−0.020%$339K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.837−0.017%$670K$2.6M20xas long as short
Vest HYPE-PERP+0.0100%1h93.972+0.127%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.958+0.112%$474K$2.4M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.829−0.026%$79K$172K20xas long as short
SunX HYPE-USDT+0.0100%4h93.969+0.124%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.859+0.006%$2.0M$1.9M10xas long as short
Bulk HYPE-USD+0.0100%1h93.348−0.539%$203K$10K10xas long as short
Extended HYPE-USD+0.0104%1h93.782−0.076%$18.3M$44.4M50xas long as short
Coinbase International HYPE-PERP-INTX+0.0136%1h93.960+0.114%$4.9M$5.5M50xas long as short
Injective HYPE/USDC PERP+0.0137%1h93.920+0.071%$31K$339K12xas long as short
RISEx HYPE/USDC+0.0210%1h93.978+0.133%$3.2M$7.0M20xas long as short
HTX HYPE-USDT+0.0218%4h94.130+0.295%$1.4M$5.9M75xas long as short
Reya HYPERUSDPERP+0.0255%1h93.901+0.051%$80K$140K15xas long as short
Kalshi KXHYPEPERP+0.0272%8h93.955+0.109%$1.9M$4.9M2.3xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0332% / S −0.0156%1h93.921+0.073%$1.4M—100xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0357%1h93.959+0.113%$7.5M$4.5M50xas long as short
Kraken Futures PF_HYPEUSD+0.0679%1h93.949+0.103%$21.0M$29.8M50xas long as short