Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0010%/8h= +1.1% APRpaid last 24h −0.006%

Price spread now: edgeX against Aevo+0.330%72s7-day average −0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as 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−$400.395% of the position

Long on Aevo Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.009%−$1 on $10k

Price spread, last 4 days (all we have)−0.033%−$3 · spread now +0.330%, 7d avg −0.003%

Together, before fees−0.041%+ Points / potential airdropedgeX: Active · farm board−$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and edgeX is 0.333% dearer against Aevo than usual: you sell high and buy low: +$33 more if the spread goes back to its 7-day average of −0.003%. The two prices were read 72 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	92.816	0.0104	pay 0.0013% / 1h	5m 57s	$395K	$162K	20x
Short	edgeX HYPEUSDC	93.123	0.0114	get 0.0057% / 4h	1h 05m	$5.0M	$28.9M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.330%Rate

Funding earned: $2.05
Price spread: +0.330% → −0.003%: $33.34
Slippage, 4 orders: −$14.52
Fee Aevo: 8 bp × 2 orders: −$16
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$4.13
Costs to cover: 0.395%
Break-even: 21.1 days

Slippage from Aevo: live order book, 58 min ago; edgeX: 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 Aevo live order book, 58 min ago	3.81 bp	15.6 bp −$16	17.5 bp −$175	19.9 bp −$1,986	doesn't fit
Sell edgeX live order book, 3 min ago	0.32 bp	4.8 bp −$5	5.0 bp −$50	149.0 bp −$14.9K	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	−0.0928%	1h	92.977	+0.173%	$196K	$226K	7x	as long as short
Arcus HYPE-USD	−0.0899%	1h	92.764	−0.056%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0134%	1h	92.830	+0.015%	$698K	$1.0M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.889	+0.078%	$3K	$331	25x	as long as short
Aftermath Perps HYPEUSD	−0.0080%	1h	93.147	+0.357%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0056%	1h	92.798	−0.020%	$86K	$346K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0052%	4h	92.823	+0.007%	$154K	$655K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.900	+0.090%	$127K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.862	+0.049%	$23K	$316K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.868	+0.055%	$62K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet HYPE-USD	+0.0004%	1h	92.820	+0.004%	$111K	$579K	20x	as long as short
Aster HYPEUSDT	+0.0011%	4h	92.840	+0.025%	$8.8M	$35.9M	300x	as long as short
Phemex HYPEUSDT	+0.0018%	8h	92.888	+0.077%	$12.5M	$2.7M	50x	as long as short
Phoenix HYPE	+0.0026%	1h	93.210	+0.424%	$213K	$1.2M	10x	as long as short
BingX HYPE-USDT	+0.0038%	4h	92.831	+0.016%	—	$53.0M	—	as long as short
Gate HYPE_USDT	+0.0042%	4h	92.857	+0.044%	$44.3M	$55.7M	75x	as long as short
Bybit HYPEUSDT	+0.0046%	8h	92.820	+0.004%	$319.2M	$276.9M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0072%	8h	92.830	+0.015%	$113.2M	$298.2M	50x	as long as short
Derive HYPE-PERP	+0.0087%	1h	92.806	−0.011%	$16.1M	$7.5M	10x	as long as short
Binance HYPEUSDT	+0.0091%	4h	92.824	+0.008%	$375.5M	$880.6M	75x	as long as short
MEXC HYPE_USDT	+0.0094%	4h	92.819	+0.003%	$88.9M	$81.4M	100x	as long as short
Paradex HYPE-USD-PERP	+0.0096%	8h	92.913	+0.104%	$339K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.861	+0.048%	$16.1M	$62.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.852	+0.038%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.824	+0.008%	$67K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	92.860	+0.047%	$24K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.856	+0.042%	$5.8M	$43.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.898	+0.088%	$2.03B	$654.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.898	+0.088%	$10.0M	$14.8M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.850	+0.036%	$45.8M	$18.1M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.812	−0.005%	$224.4M	$96.5M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.826	+0.010%	$7.4M	$10.0M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.797	−0.021%	$31.2M	$53.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.172	+0.383%	$7.5M	$46.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.081	+0.285%	$338K	$998K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.040	+0.241%	$665K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.930	+0.123%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.887	+0.076%	$469K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.802	−0.016%	$79K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.852	+0.038%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.825	+0.009%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.155	+0.365%	$203K	$10K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.809	−0.008%	$18.3M	$42.8M	50x	as long as short
Aevo HYPE-PERPlong	+0.0104%	1h	92.816	long leg	$395K	$162K	20x
edgeX HYPEUSDCshort	+0.0114%	4h	93.123	+0.330%	$5.0M	$28.9M	30x
HTX HYPE-USDT	+0.0115%	4h	92.965	+0.160%	$1.4M	$6.1M	75x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	92.850	+0.036%	$4.8M	$5.5M	50x	as long as short
Reya HYPERUSDPERP	+0.0259%	1h	92.826	+0.010%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0269%	8h	92.920	+0.112%	$1.9M	$5.2M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0156%	1h	92.855	+0.042%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0331%	1h	92.928	+0.120%	$7.4M	$4.4M	50x	as long as short
BloFin HYPE-USDT	+0.0335%	4h	92.971	+0.167%	$16.9M	$11.5M	75x	as long as short
RISEx HYPE/USDC	+0.0510%	1h	92.930	+0.122%	$3.2M	$6.3M	20x	as long as short
Injective HYPE/USDC PERP	+0.0519%	1h	93.390	+0.618%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0689%	1h	92.914	+0.105%	$20.6M	$29.9M	50x	as long as short