Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0096%/8h= −10.6% APRpaid last 24h +0.004%

Price spread now: Aster against Vest−0.076%7-day average −0.007% · you buy dearer than you sell

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

Long on Vest Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.113%+$11 on $10k

Price spread, last 3 days (all we have)−0.326%−$33 · spread now −0.076%, 7d avg −0.007%

Together, before fees−0.213%+ Points / potential airdropVest: Active · Aster: Stage 5 · farm board−$21 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Aster is 0.069% cheaper against Vest than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.007%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.113%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest HYPE-PERP	93.268	0.0100	pay 0.0013% / 1h	54m 35s	—	$454K	5x
Short	Aster HYPEUSDT	93.197	0.0004	get 0.0002% / 4h	2h 54m	$8.9M	$36.3M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Vest. 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 VestbpFee AsterbpOrdersPrice spread, now −0.076%Rate

Funding earned: −$20.24
Price spread: −0.076% → −0.007%: −$6.87
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Aster: 4 bp × 2 orders: −$8
Net: −$37.11
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Vest: no order-book sample; Aster: 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 Vest no order-book sample	—	—	—	—	—
Sell Aster live order book, 4 min ago	0.48 bp	5.0 bp −$5	5.6 bp −$56	15.4 bp −$1,540	doesn't fit

Vest: 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	−0.1328%	1h	93.228	−0.043%	$197K	$235K	7x	as long as short
Ondo Perps HYPE-USD.P	−0.0196%	1h	93.160	−0.115%	$699K	$948K	10x	as long as short
01 Exchange HYPEUSD	−0.0104%	1h	93.219	−0.052%	$89K	$340K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0102%	1h	93.323	+0.060%	$22K	$22K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.208	−0.064%	$3K	$331	25x	as long as short
Gate HYPE_USDT	−0.0002%	4h	93.185	−0.089%	$44.0M	$56.1M	75x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.247	−0.022%	$127K	$33K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.463	+0.210%	$1.9M	$5.4M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.210	−0.062%	$23K	$343K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.400	+0.142%	$20K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDTshort	+0.0004%	4h	93.197	−0.076%	$8.9M	$36.3M	300x
Derive HYPE-PERP	+0.0037%	1h	93.341	+0.079%	$16.4M	$7.1M	10x	as long as short
Bybit HYPEUSDT	+0.0040%	8h	93.190	−0.083%	$324.9M	$288.4M	75x	as long as short
Bullet HYPE-USD	+0.0045%	1h	93.214	−0.057%	$112K	$583K	20x	as long as short
Orderly PERP_HYPE_USDC	+0.0078%	4h	93.393	+0.134%	$180K	$536K	20x	as long as short
Phoenix HYPE	+0.0094%	1h	93.336	+0.073%	$215K	$1.2M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.274	+0.006%	$18.5M	$58.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.237	−0.033%	$3.1M	$12.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.204	−0.068%	$56K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.230	−0.040%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.203	−0.069%	$6.0M	$44.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.274	+0.006%	$2.03B	$668.1M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.249	−0.020%	$10.0M	$14.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.205	−0.067%	$385.4M	$890.6M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.184	−0.090%	$114.6M	$315.8M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.185	−0.089%	$1.2M	$4.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.386	+0.127%	$204K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.209	−0.063%	$92.0M	$81.5M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.213	−0.059%	$46.2M	$19.6M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.216	−0.055%	$226.4M	$102.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.188	−0.085%	—	$54.6M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.382	+0.123%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.285	+0.018%	$28.8M	$49.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.319	+0.055%	$7.5M	$46.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.338	+0.075%	$405K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.369	+0.109%	$675K	$2.4M	20x	as long as short
Vest HYPE-PERPlong	+0.0100%	1h	93.268	long leg	—	$454K	5x
Polymarket Perps HYPE-USD	+0.0100%	1h	93.254	−0.015%	$493K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.404	+0.146%	$76K	$169K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.334	+0.071%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.384	+0.125%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.374	+0.114%	$12.7M	$2.6M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0100%	8h	93.246	−0.023%	$339K	$171K	20x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.177	−0.097%	$18.4M	$41.0M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.401	+0.143%	$397K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0120%	4h	93.294	+0.028%	$5.1M	$29.4M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.390	+0.131%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0244%	1h	93.221	−0.050%	$77K	$157K	15x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.210	−0.062%	$30K	$231K	12x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0165%	1h	93.400	+0.142%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.352	+0.090%	$17.2M	$12.5M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0403%	1h	93.491	+0.240%	$7.4M	$4.6M	50x	as long as short
HTX HYPE-USDT	+0.0422%	4h	93.533	+0.285%	$1.5M	$7.6M	75x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.279	+0.012%	$2.7M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0573%	1h	93.492	+0.241%	$18.8M	$24.8M	50x	as long as short