Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 13:00 UTC−0.0028%/8h= −3.1% APRpaid last 24h −0.005%

Price spread now: Binance against Aevo+0.131%58s7-day average +0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$450.450% of the position

Long on Aevo Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.024%−$2 on $10k

Price spread, last 4 days (all we have)−0.093%−$9 · spread now +0.131%, 7d avg +0.005%

Together, before fees−0.116%−$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.125% dearer against Aevo than usual: you sell high and buy low (spread +0.131% now, against its 7-day average of +0.005%): +$13 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 15 days. At the pace of the last 7 days (−0.024% in total) that is about 37 days. The two prices were read 58 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo HYPE-PERP	95.594	0.0096	pay 0.0012% / 1h	23m 20s	$404K	$115K	20x
Short	Binance HYPEUSDT	95.719	0.0068	get 0.0034% / 4h	3h 23m	$390.8M	$834.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Aevo. 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 AevobpFee BinancebpOrdersPrice spread, now +0.131%Rate

Funding earned: −$5.91
Price spread: +0.131% → +0.005%: $12.55
Slippage, 4 orders: −$18.95
Fee Aevo: 8 bp × 2 orders: −$16
Fee Binance: 5 bp × 2 orders: −$10
Net: −$38.32
Costs to cover: 0.450%
Break-even: never at this rate

Slippage from Aevo: live order book, 14 min ago; Binance: live order book, 14 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 Aevo live order book, 14 min ago	8.50 bp	16.5 bp −$17	16.6 bp −$166	22.4 bp −$2,242	doesn't fit
Sell Binance live order book, 14 min ago	0.05 bp	5.9 bp −$6	8.3 bp −$83	16.3 bp −$1,625	doesn't fit

HYPE on 54 exchanges

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	−0.1648%	1h	95.559	−0.037%	$207K	$317K	7x	as long as short
Bluefin HYPE-PERP	−0.0582%	1h	95.711	+0.123%	$79K	$129K	20x	as long as short
Phemex HYPEUSDT	−0.0206%	8h	95.629	+0.037%	$13.0M	$2.2M	50x	as long as short
Kraken Futures PF_HYPEUSD	−0.0204%	1h	95.679	+0.089%	$18.2M	$32.0M	50x	as long as short
Aftermath Perps HYPEUSD	−0.0145%	1h	95.739	+0.152%	$22K	$17K	10x	as long as short
Aster HYPEUSDT	−0.0118%	4h	95.718	+0.130%	$9.8M	$33.8M	300x	as long as short
Orderly PERP_HYPE_USDC	−0.0085%	4h	95.728	+0.140%	$147K	$635K	20x	as long as short
Coinbase International HYPE-PERP-INTX	−0.0064%	1h	95.630	+0.038%	$4.7M	$5.4M	50x	as long as short
Ondo Perps HYPE-USD.P	−0.0044%	1h	95.630	+0.038%	$681K	$1.3M	10x	as long as short
OKX HYPE-USDT-SWAP	−0.0034%	8h	95.728	+0.140%	$120.3M	$308.0M	50x	as long as short

Show all 54 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget HYPEUSDT	−0.0028%	4h	95.674	+0.084%	$231.8M	$87.5M	75x	as long as short
Backpack HYPE_USDC_PERP	−0.0025%	1h	95.639	+0.047%	$6.8M	$12.1M	20x	as long as short
01 Exchange HYPEUSD	−0.0024%	1h	95.721	+0.133%	$102K	$351K	20x	as long as short
Phoenix HYPE	0.0000%	1h	95.726	+0.138%	$196K	$1.3M	10x	as long as short
Perpl HYPE	0.0000%	43m	95.741	+0.154%	$24K	$246K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	95.712	+0.124%	$67K	—	150x	as long as short
KuCoin HYPEUSDTM	+0.0020%	4h	95.676	+0.086%	$47.9M	$17.2M	75x	as long as short
Nado HYPE-PERP	+0.0027%	1h	95.588	−0.006%	$4.2M	$49.9M	10x	as long as short
Lighter HYPE	+0.0032%	1h	95.729	+0.141%	$16.8M	$55.8M	20x	as long as short
Gate HYPE_USDT	+0.0036%	4h	95.683	+0.093%	$59.5M	$54.1M	75x	as long as short
edgeX HYPEUSDC	+0.0054%	4h	95.666	+0.076%	$5.1M	$28.0M	30x	as long as short
Derive HYPE-PERP	+0.0064%	1h	95.555	−0.040%	$16.5M	$4.6M	10x	as long as short
Bybit HYPEUSDT	+0.0066%	8h	95.720	+0.132%	$324.1M	$267.2M	75x	as long as short
Binance HYPEUSDTshort	+0.0068%	4h	95.719	+0.131%	$390.8M	$834.5M	75x
MEXC HYPE_USDT	+0.0070%	4h	95.698	+0.109%	$89.8M	$82.9M	100x	as long as short
BingX HYPE-USDT	+0.0070%	4h	95.689	+0.100%	—	$52.0M	—	as long as short
Lighter RH HYPE	+0.0096%	1h	95.721	+0.133%	$3.0M	$10.0M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	95.712	+0.124%	$207K	$1.1M	50x	as long as short
Aevo HYPE-PERPlong	+0.0096%	1h	95.594	long leg	$404K	$115K	20x
Paradex HYPE-USD-PERP	+0.0098%	8h	95.717	+0.129%	$341K	$30K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	95.710	+0.122%	$30K	$1.5M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	95.769	+0.183%	$2.12B	$623.1M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	95.771	+0.186%	$10.3M	$12.1M	20x	as long as short
Arcus HYPE-USD	+0.0100%	1h	95.743	+0.156%	$1.1M	$2.6M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	95.610	+0.017%	$230K	$18K	10x	as long as short
Variational Omni HYPE	+0.0100%	8h	95.774	+0.189%	$30.4M	$50.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	95.660	+0.069%	$7.7M	$41.9M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	95.828	+0.245%	$336K	$915K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	95.658	+0.067%	$692K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	95.738	+0.150%	—	$71K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	95.700	+0.111%	$421K	$2.5M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	95.689	+0.100%	$114K	$581K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	95.619	+0.026%	$33K	$1.3M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	95.629	+0.037%	$2.1M	$331K	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.815	+0.231%	$1.4M	$5.1M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	95.706	+0.117%	$18.2M	$35.4M	50x	as long as short
dYdX HYPE-USD	+0.0128%	1h	95.768	+0.183%	$127K	$92K	5x	as long as short
Kalshi KXHYPEPERP	+0.0146%	8h	95.691	+0.102%	$1.8M	$5.0M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0150% / S +0.0016%	1h	95.692	+0.103%	$1.4M	—	100x	as long as short
RISEx HYPE/USDC	+0.0159%	1h	95.727	+0.139%	$3.2M	$5.1M	20x	as long as short
Injective HYPE/USDC PERP	+0.0163%	1h	96.110	+0.540%	$31K	$334K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0231%	1h	95.708	+0.120%	$7.6M	$4.2M	50x	as long as short
Reya HYPERUSDPERP	+0.0267%	1h	95.661	+0.070%	$84K	$82K	15x	as long as short
BloFin HYPE-USDT	+0.0283%	4h	95.654	+0.063%	$17.8M	$11.5M	75x	as long as short