Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h 0.000%

Price spread now: Aevo against Variational Omni+0.084%7-day average +0.030% · you sell dearer than you buy

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

Long on Variational Omni Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.011%+$1 on $10k

Price spread, last 3 days (all we have)+0.019%+$2 · spread now +0.084%, 7d avg +0.030%

Together, before fees+0.030%+ Points / potential airdropVariational Omni: Active · farm board+$3 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 0.054% dearer against Variational Omni than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni HYPE	93.811	0.0100	pay 0.0100% / 8h	9m 48s	$31.2M	$54.1M	—
Short	Aevo HYPE-PERP	93.890	0.0096	get 0.0012% / 1h	9m 48s	$399K	$318K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee AevobpOrdersPrice spread, now +0.084%Rate

Funding earned: −$0.84
Price spread: +0.084% → +0.030%: $5.35
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$11.49
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Aevo: live order book, 4 min ago. 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 Variational Omni RFQ quote, 4 min ago	0.42 bp	doesn't fit	3.9 bp −$39	13.1 bp −$1,309	doesn't fit
Sell Aevo live order book, 4 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	−0.1256%	1h	93.812	0.000%	$199K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0400%	1h	93.863	+0.055%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	93.832	+0.022%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0108%	1h	93.780	−0.033%	$705K	$916K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.868	+0.060%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0072%	1h	93.933	+0.130%	$86K	$368K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0003%	4h	93.918	+0.114%	$170K	$590K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.941	+0.139%	$128K	$30K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.939	+0.136%	$23K	$329K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.933	+0.130%	$27K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix HYPE	+0.0009%	1h	93.919	+0.115%	$217K	$1.2M	10x	as long as short
Derive HYPE-PERP	+0.0011%	1h	93.847	+0.038%	$16.4M	$7.1M	10x	as long as short
Aster HYPEUSDT	+0.0015%	4h	93.904	+0.099%	$8.9M	$36.1M	300x	as long as short
Bybit HYPEUSDT	+0.0021%	8h	93.860	+0.052%	$323.0M	$284.0M	75x	as long as short
Phemex HYPEUSDT	+0.0041%	8h	93.840	+0.030%	$12.8M	$2.6M	50x	as long as short
Binance HYPEUSDT	+0.0051%	4h	93.886	+0.080%	$383.8M	$898.3M	75x	as long as short
MEXC HYPE_USDT	+0.0054%	4h	93.876	+0.069%	$88.4M	$82.2M	100x	as long as short
edgeX HYPEUSDC	+0.0061%	4h	93.800	−0.012%	$5.1M	$29.6M	30x	as long as short
Popdex HYPEUSDT	+0.0064%	1h	93.933	+0.130%	$60K	$1.2M	50x	as long as short
Gate HYPE_USDT	+0.0072%	4h	93.898	+0.092%	$44.1M	$59.9M	75x	as long as short
Bullet HYPE-USD	+0.0087%	1h	93.899	+0.093%	$113K	$578K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0090%	8h	93.880	+0.073%	$115.8M	$322.7M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.942	+0.139%	$18.9M	$60.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.940	+0.137%	$3.1M	$12.3M	20x	as long as short
Aevo HYPE-PERPshort	+0.0096%	1h	93.890	+0.084%	$399K	$318K	20x
Paradex HYPE-USD-PERP	+0.0099%	8h	93.922	+0.118%	$341K	$171K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.890	+0.084%	$37K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.863	+0.056%	$5.7M	$44.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.007	+0.209%	$2.04B	$679.0M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.906	+0.101%	$10.1M	$14.5M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.820	+0.009%	$205K	$7K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.888	+0.082%	$46.5M	$18.6M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.923	+0.119%	$227.5M	$102.3M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.917	+0.113%	—	$54.2M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.927	+0.123%	$7.9M	$10.4M	20x	as long as short
Variational Omni HYPElong	+0.0100%	8h	93.811	long leg	$31.2M	$54.1M	—
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.848	+0.039%	$7.6M	$45.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.859	+0.051%	$359K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.889	+0.083%	$679K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.943	+0.140%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.957	+0.155%	$472K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.909	+0.104%	$76K	$171K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.977	+0.177%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.891	+0.085%	$2.0M	$2.0M	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.410	+0.638%	$31K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.883	+0.077%	$18.3M	$42.8M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	94.010	+0.212%	$4.9M	$5.7M	50x	as long as short
Kalshi KXHYPEPERP	+0.0154%	8h	93.929	+0.125%	$1.9M	$5.0M	2.3x	as long as short
HTX HYPE-USDT	+0.0192%	4h	94.063	+0.268%	$1.5M	$7.8M	75x	as long as short
BloFin HYPE-USDT	+0.0212%	4h	93.801	−0.011%	$16.9M	$12.6M	75x	as long as short
Reya HYPERUSDPERP	+0.0249%	1h	93.882	+0.076%	$77K	$142K	15x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	93.988	+0.189%	$2.8M	$6.8M	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0303%	1h	94.001	+0.202%	$7.5M	$4.6M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0163%	1h	93.924	+0.120%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0577%	1h	94.004	+0.206%	$21.0M	$29.5M	50x	as long as short