Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0080%/8h= −8.8% APRpaid last 24h −0.018%

Price spread now: Aster against SoDEX+0.046%7-day average −0.007% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$240.236% of the position

Long on SoDEX Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.023%−$2 on $10k

Price spread, last 4 days (all we have)+0.351%+$35 · spread now +0.046%, 7d avg −0.007%

Together, before fees+0.328%+ Points / potential airdropAster: Stage 5 · farm board+$33 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aster is 0.053% dearer against SoDEX than usual: you sell high and buy low (spread +0.046% now, against its 7-day average of −0.007%): +$5 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.2 days. At the pace of the last 3 days (−0.023% in total) that is about 7.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX HYPE-USD	93.524	0.0100	pay 0.0013% / 1h	42m 03s	$2.0M	$1.9M	10x
Short	Aster HYPEUSDT	93.567	0.0020	get 0.0010% / 4h	1h 42m	$8.8M	$35.6M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against SoDEX. 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 SoDEXbpFee AsterbpOrdersPrice spread, now +0.046%Rate

Funding earned: −$16.89
Price spread: +0.046% → −0.007%: $5.3
Slippage, 4 orders: −$7.56
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Aster: 4 bp × 2 orders: −$8
Net: −$35.15
Costs to cover: 0.236%
Break-even: never at this rate

Slippage from SoDEX: live order book, 2 min ago; Aster: live order book, 2 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 SoDEX live order book, 2 min ago	0.27 bp	6.6 bp −$7	13.4 bp −$134	100.2 bp −$10.0K	doesn't fit
Sell Aster live order book, 2 min ago	0.86 bp	5.0 bp −$5	5.3 bp −$53	15.9 bp −$1,587	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	−0.1240%	1h	93.378	−0.156%	$196K	$226K	7x	as long as short
Arcus HYPE-USD	−0.0899%	1h	93.446	−0.083%	$1.2M	$3.8M	10x	as long as short
Bluefin HYPE-PERP	−0.0178%	1h	93.498	−0.028%	$79K	$170K	20x	as long as short
Phemex HYPEUSDT	−0.0102%	8h	93.519	−0.005%	$12.6M	$2.7M	50x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.485	−0.042%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0045%	4h	93.518	−0.006%	$156K	$629K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0041%	1h	93.435	−0.095%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0040%	1h	93.554	+0.032%	$85K	$345K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0010%	1h	93.500	−0.026%	$698K	$981K	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.522	−0.002%	$128K	$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	93.568	+0.047%	$23K	$322K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.550	+0.027%	$62K	—	150x	as long as short
Aster HYPEUSDTshort	+0.0020%	4h	93.567	+0.046%	$8.8M	$35.6M	300x
Phoenix HYPE	+0.0026%	1h	93.549	+0.027%	$213K	$1.2M	10x	as long as short
BingX HYPE-USDT	+0.0026%	4h	93.508	−0.017%	—	$53.0M	—	as long as short
Bybit HYPEUSDT	+0.0034%	8h	93.413	−0.119%	$322.2M	$277.0M	75x	as long as short
Bullet HYPE-USD	+0.0042%	1h	93.546	+0.024%	$112K	$578K	20x	as long as short
Gate HYPE_USDT	+0.0054%	4h	93.530	+0.006%	$44.6M	$54.6M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0078%	8h	93.497	−0.029%	$114.5M	$302.5M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.561	+0.040%	$16.4M	$61.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.551	+0.029%	$3.1M	$11.5M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.549	+0.027%	$69K	$1.2M	50x	as long as short
MEXC HYPE_USDT	+0.0096%	4h	93.535	+0.012%	$89.9M	$80.5M	100x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.616	+0.098%	$340K	$162K	20x	as long as short
edgeX HYPEUSDC	+0.0099%	4h	93.527	+0.003%	$5.1M	$30.0M	30x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.570	+0.049%	$19K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.579	+0.059%	$5.8M	$43.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.607	+0.089%	$2.04B	$655.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.616	+0.099%	$10.1M	$14.6M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.463	−0.065%	$379.3M	$877.2M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.580	+0.060%	$204K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.532	+0.009%	$46.0M	$18.1M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.504	−0.021%	$226.1M	$96.7M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.471	−0.057%	$7.4M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.339	−0.198%	$31.1M	$54.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.288	−0.253%	$7.5M	$45.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.588	+0.068%	$340K	$999K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.522	−0.002%	$667K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.596	+0.077%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.567	+0.046%	$473K	$2.5M	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.508	−0.017%	$16.2M	$7.6M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.616	+0.098%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USDlong	+0.0100%	1h	93.524	long leg	$2.0M	$1.9M	10x
Extended HYPE-USD	+0.0104%	1h	93.491	−0.036%	$18.4M	$43.7M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.529	+0.006%	$398K	$163K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.590	+0.071%	$4.9M	$5.4M	50x	as long as short
HTX HYPE-USDT	+0.0202%	4h	93.738	+0.229%	$1.4M	$6.0M	75x	as long as short
Reya HYPERUSDPERP	+0.0257%	1h	93.528	+0.004%	$80K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0279%	8h	93.609	+0.091%	$1.9M	$5.1M	2.3x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0306%	1h	93.595	+0.076%	$7.5M	$4.4M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0156%	1h	93.557	+0.035%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0337%	4h	93.577	+0.057%	$17.0M	$11.7M	75x	as long as short
RISEx HYPE/USDC	+0.0510%	1h	93.644	+0.129%	$3.2M	$6.5M	20x	as long as short
Injective HYPE/USDC PERP	+0.0519%	1h	93.350	−0.186%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0684%	1h	93.592	+0.073%	$20.8M	$30.1M	50x	as long as short