Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0082%/8h= −9.0% APRpaid last 24h −0.010%

Price spread now: Bitget against Aevo+0.120%7-day average −0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$570.573% of the position

Long on Aevo Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.078%−$8 on $10k

Price spread, last 4 days (all we have)−0.138%−$14 · spread now +0.120%, 7d avg −0.020%

Together, before fees−0.216%−$22 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.140% dearer against Aevo than usual: you sell high and buy low (spread +0.120% now, against its 7-day average of −0.020%): +$14 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 5.7 days. At the pace of the last 7 days (−0.078% in total) that is about 13 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo HYPE-PERP	93.409	0.0104	pay 0.0013% / 1h	53m 39s	$395K	$161K	20x
Short	Bitget HYPEUSDT	93.521	0.0022	get 0.0011% / 4h	2h 53m	$226.3M	$99.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.120%Rate

Funding earned: −$17.22
Price spread: +0.120% → −0.020%: $13.95
Slippage, 4 orders: −$29.26
Fee Aevo: 8 bp × 2 orders: −$16
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$60.52
Costs to cover: 0.573%
Break-even: never at this rate

Slippage from Aevo: live order book, 60 min ago; Bitget: live order book, 5 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, 60 min ago	11.64 bp	19.6 bp −$20	19.6 bp −$196	35.2 bp −$3,525	doesn't fit
Sell Bitget live order book, 5 min ago	0.37 bp	8.8 bp −$9	12.8 bp −$128	doesn't fit	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	−0.1904%	1h	93.390	−0.021%	$196K	$232K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0363%	1h	93.429	+0.021%	$22K	$21K	10x	as long as short
Bullet HYPE-USD	−0.0165%	1h	93.384	−0.027%	$112K	$578K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.504	+0.101%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0040%	1h	93.543	+0.143%	$88K	$365K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0035%	4h	93.401	−0.009%	$146K	$663K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0031%	1h	93.540	+0.140%	$705K	$1.2M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.453	+0.047%	$128K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.423	+0.015%	$22K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.436	+0.028%	$62K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus HYPE-USD	+0.0011%	1h	93.495	+0.092%	$1.0M	$3.9M	10x	as long as short
Bitget HYPEUSDTshort	+0.0022%	4h	93.521	+0.120%	$226.3M	$99.1M	75x
Bybit HYPEUSDT	+0.0024%	8h	93.520	+0.119%	$318.1M	$283.6M	75x	as long as short
Phemex HYPEUSDT	+0.0025%	8h	93.449	+0.043%	$12.6M	$2.7M	50x	as long as short
Phoenix HYPE	+0.0026%	1h	93.546	+0.146%	$209K	$1.2M	10x	as long as short
Bluefin HYPE-PERP	+0.0058%	1h	93.409	0.000%	$79K	$167K	20x	as long as short
edgeX HYPEUSDC	+0.0092%	4h	93.577	+0.180%	$5.0M	$29.9M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	93.562	+0.164%	$340K	$162K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.522	+0.121%	$16.2M	$62.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.516	+0.114%	$3.1M	$11.4M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.393	−0.017%	$77K	$1.1M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.510	+0.108%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.405	−0.004%	$7.0M	$47.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.565	+0.167%	$2.04B	$665.3M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.489	+0.086%	$8.7M	$36.4M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.541	+0.141%	$10.1M	$15.3M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.500	+0.098%	$375.0M	$910.8M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.525	+0.124%	$114.9M	$308.5M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.328	−0.087%	$203K	$3K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	93.513	+0.111%	$46.3M	$53.8M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.519	+0.118%	$92.1M	$80.1M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.513	+0.111%	$46.7M	$18.7M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.522	+0.121%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.440	+0.033%	$7.3M	$11.1M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.529	+0.128%	$28.7M	$56.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.637	+0.244%	$7.6M	$47.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.532	+0.131%	$343K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.573	+0.175%	$669K	$2.9M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.487	+0.083%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.443	+0.036%	$490K	$2.7M	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.399	−0.011%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.382	−0.029%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.435	+0.028%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.580	+0.183%	$1.4M	$6.4M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.502	+0.100%	$18.1M	$43.2M	50x	as long as short
Aevo HYPE-PERPlong	+0.0104%	1h	93.409	long leg	$395K	$161K	20x
Injective HYPE/USDC PERP	+0.0122%	1h	93.470	+0.065%	$30K	$339K	12x	as long as short
Kalshi KXHYPEPERP	+0.0133%	8h	93.420	+0.012%	$1.8M	$5.6M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.470	+0.065%	$4.8M	$5.6M	50x	as long as short
Reya HYPERUSDPERP	+0.0267%	1h	93.391	−0.020%	$80K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0154%	1h	93.431	+0.023%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.441	+0.034%	$16.9M	$11.9M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0341%	1h	93.508	+0.105%	$20.8M	$29.6M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0392%	1h	93.518	+0.116%	$7.5M	$4.0M	50x	as long as short
RISEx HYPE/USDC	+0.0527%	1h	93.593	+0.197%	$3.2M	$6.3M	20x	as long as short