Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0099%/8h= +10.8% APRpaid last 24h +0.010%

Price spread now: Aster against 01 Exchange−0.022%7-day average −0.041% · 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−$28as in the Price arb table

costs, in and out, $10k−$290.294% of the position

Long on 01 Exchange Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.014%+$1 on $10k

Price spread, last 4 days (all we have)−0.161%−$16 · spread now −0.022%, 7d avg −0.041%

Together, before fees−0.147%+ Points / potential airdropAster: Stage 5 · farm board−$15 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.041%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange HYPEUSD	93.402	−0.0088	get 0.0011% / 1h	40m 52s	$89K	$345K	20x
Short	Aster HYPEUSDT	93.381	0.0011	get 0.0005% / 4h	2h 40m	$8.9M	$35.9M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against 01 Exchange. 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 01 ExchangebpFee AsterbpOrdersPrice spread, now −0.022%Rate

Funding earned: $20.73
Price spread: −0.022% → −0.041%: $1.9
Slippage, 4 orders: −$14.41
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: −$6.77
Costs to cover: 0.294%
Break-even: 9.3 days

Slippage from 01 Exchange: live order book, 48 min ago; Aster: live order book, 3 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 01 Exchange live order book, 48 min ago	0.21 bp	8.8 bp −$9	20.7 bp −$207	doesn't fit	doesn't fit
Sell Aster live order book, 3 min ago	0.38 bp	5.3 bp −$5	5.8 bp −$58	13.4 bp −$1,336	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	−0.1200%	1h	93.360	−0.045%	$197K	$233K	7x	as long as short
Ondo Perps HYPE-USD.P	−0.0250%	1h	93.330	−0.077%	$700K	$943K	10x	as long as short
Aftermath Perps HYPEUSD	−0.0208%	1h	93.390	−0.013%	$22K	$22K	10x	as long as short
01 Exchange HYPEUSDlong	−0.0088%	1h	93.402	long leg	$89K	$345K	20x
Hotstuff HYPE-PERP	−0.0080%	1h	93.457	+0.059%	$3K	$331	25x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.398	−0.004%	$127K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.397	−0.005%	$23K	$343K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.421	+0.021%	$20K	—	150x	as long as short
Derive HYPE-PERP	+0.0003%	1h	93.349	−0.057%	$16.4M	$7.1M	10x	as long as short
Gate HYPE_USDT	+0.0010%	4h	93.400	−0.002%	$44.1M	$56.5M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDTshort	+0.0011%	4h	93.381	−0.022%	$8.9M	$35.9M	300x
Bullet HYPE-USD	+0.0029%	1h	93.376	−0.027%	$112K	$582K	20x	as long as short
Bybit HYPEUSDT	+0.0037%	8h	93.400	−0.002%	$325.4M	$287.8M	75x	as long as short
Phoenix HYPE	+0.0068%	1h	93.527	+0.134%	$216K	$1.2M	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0073%	4h	93.393	−0.010%	$180K	$529K	20x	as long as short
Popdex HYPEUSDT	+0.0080%	1h	93.376	−0.028%	$56K	$1.2M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.446	+0.047%	$18.5M	$59.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.416	+0.015%	$3.1M	$12.3M	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.420	+0.019%	$40K	$1.7M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0100%	8h	93.395	−0.008%	$339K	$171K	20x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.382	−0.022%	$6.0M	$44.3M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.474	+0.077%	$2.03B	$669.9M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.398	−0.004%	$10.0M	$14.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.400	−0.002%	$385.6M	$888.5M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.395	−0.007%	$114.8M	$315.4M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.354	−0.051%	$1.2M	$4.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.403	+0.001%	$204K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.400	−0.002%	$92.7M	$82.0M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.425	+0.025%	$46.3M	$19.1M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.423	+0.022%	$226.8M	$102.1M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.400	−0.002%	—	$54.2M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.440	+0.041%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.375	−0.028%	$28.8M	$49.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.413	+0.012%	$7.5M	$45.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.428	+0.028%	$406K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.479	+0.082%	$676K	$2.4M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.428	+0.028%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.412	+0.011%	$493K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.403	+0.001%	$76K	$169K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.408	+0.006%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.382	−0.021%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.407	+0.005%	$12.7M	$2.6M	50x	as long as short
Kalshi KXHYPEPERP	+0.0103%	8h	93.473	+0.076%	$1.9M	$5.4M	2.3x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.390	−0.013%	$18.4M	$41.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.355	−0.050%	$397K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0117%	4h	93.402	0.000%	$5.1M	$29.6M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.510	+0.116%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0245%	1h	93.387	−0.016%	$77K	$157K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0253%	1h	93.489	+0.093%	$7.4M	$4.6M	50x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.270	−0.141%	$30K	$231K	12x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0165%	1h	93.431	+0.032%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.348	−0.058%	$17.1M	$12.5M	75x	as long as short
HTX HYPE-USDT	+0.0357%	4h	93.556	+0.165%	$1.5M	$7.6M	75x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.460	+0.062%	$2.8M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0574%	1h	93.477	+0.081%	$19.2M	$25.9M	50x	as long as short