Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0003%/8h= +0.4% APRpaid last 24h 0.000%

Price spread now: Katana Perps against Aevo−0.006%7-day average −0.020% · you buy dearer than you sell

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

Long on Aevo Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.021%−$2 on $10k

Price spread, last 4 days (all we have)+0.079%+$8 · spread now −0.006%, 7d avg −0.020%

Together, before fees+0.058%+$6 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo HYPE-PERP	95.246	0.0096	pay 0.0012% / 1h	6m 13s	$403K	$125K	20x
Short	Katana Perps HYPE-USD	95.240	0.0099	get 0.0099% / 8h	5h 06m	$40K	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps 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 Katana PerpsbpOrdersPrice spread, now −0.006%Rate

Funding earned: $0.71
Price spread: −0.006% → −0.020%: $1.37
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: −$17.72
Costs to cover: 0.198%
Break-even: 181.7 days

Slippage unknown: Aevo: live order book, 41 min ago; Katana Perps: no order-book sample. 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 Aevo live order book, 41 min ago	6.84 bp	18.6 bp −$19	22.6 bp −$226	24.9 bp −$2,491	doesn't fit
Sell Katana Perps no order-book sample	—	—	—	—	—

Katana Perps: 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 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
Phemex HYPEUSDT	−0.0292%	8h	95.248	+0.002%	$13.0M	$2.3M	50x	as long as short
Kraken Futures PF_HYPEUSD	−0.0251%	1h	95.271	+0.026%	$18.5M	$34.6M	50x	as long as short
Arcus HYPE-USD	−0.0130%	1h	95.299	+0.056%	$1.1M	$2.7M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0114%	1h	95.170	−0.079%	$22K	$17K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0107%	1h	95.220	−0.027%	$678K	$1.3M	10x	as long as short
Aster HYPEUSDT	−0.0082%	4h	95.246	0.000%	$9.1M	$34.3M	300x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	95.321	+0.079%	$101K	$349K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	95.055	−0.200%	$3K	$421	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0065%	4h	95.231	−0.015%	$148K	$642K	20x	as long as short
Gate HYPE_USDT	−0.0064%	4h	95.262	+0.017%	$55.8M	$54.1M	75x	as long as short

Show all 55 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bluefin HYPE-PERP	−0.0059%	1h	95.238	−0.008%	$79K	$132K	20x	as long as short
Coinbase International HYPE-PERP-INTX	−0.0056%	1h	95.280	+0.036%	$4.8M	$5.5M	50x	as long as short
Bullet HYPE-USD	−0.0049%	1h	95.269	+0.024%	$113K	$583K	20x	as long as short
OKX HYPE-USDT-SWAP	−0.0032%	8h	95.249	+0.003%	$119.4M	$304.1M	50x	as long as short
Bitget HYPEUSDT	−0.0024%	4h	95.254	+0.009%	$230.7M	$86.3M	75x	as long as short
Phoenix HYPE	−0.0008%	1h	95.181	−0.068%	$198K	$1.1M	10x	as long as short
Perpl HYPE	0.0000%	43m	95.077	−0.177%	$24K	$251K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	95.295	+0.052%	$100K	—	150x	as long as short
Derive HYPE-PERP	+0.0014%	1h	95.000	−0.258%	$16.4M	$7.0M	10x	as long as short
Lighter HYPE	+0.0016%	1h	95.254	+0.009%	$16.7M	$59.0M	20x	as long as short
Bybit HYPEUSDT	+0.0034%	8h	95.270	+0.026%	$321.6M	$263.1M	75x	as long as short
edgeX HYPEUSDC	+0.0035%	4h	94.993	−0.265%	$5.0M	$28.0M	30x	as long as short
MEXC HYPE_USDT	+0.0044%	4h	95.271	+0.027%	$90.6M	$84.9M	100x	as long as short
Binance HYPEUSDT	+0.0046%	4h	95.315	+0.073%	$383.6M	$850.6M	75x	as long as short
BingX HYPE-USDT	+0.0052%	4h	95.256	+0.011%	—	$49.1M	—	as long as short
Popdex HYPEUSDT	+0.0056%	1h	95.300	+0.057%	$275K	$999K	50x	as long as short
dYdX HYPE-USD	+0.0064%	1h	95.285	+0.042%	$128K	$96K	5x	as long as short
ApeX Omni HYPEUSDT	+0.0089%	1h	95.028	−0.229%	$323K	$926K	50x	as long as short
Paradex HYPE-USD-PERP	+0.0090%	8h	95.255	+0.010%	$340K	$30K	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	95.275	+0.031%	$3.2M	$10.4M	20x	as long as short
Aevo HYPE-PERPlong	+0.0096%	1h	95.246	long leg	$403K	$125K	20x
Katana Perps HYPE-USDshort	+0.0099%	8h	95.240	−0.006%	$40K	$1.5M	10x
Nado HYPE-PERP	+0.0100%	1h	95.283	+0.039%	$7.3M	$50.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	95.284	+0.040%	$10.3M	$13.0M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	95.233	−0.014%	$229K	$20K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	95.264	+0.019%	$47.7M	$17.7M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	95.242	−0.004%	$6.9M	$12.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.971	−0.289%	$29.7M	$52.8M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	95.044	−0.211%	$7.7M	$40.7M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	95.077	−0.177%	$691K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	95.291	+0.048%	—	$80K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	95.289	+0.045%	$504K	$2.4M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	95.338	+0.097%	$33K	$1.4M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	95.256	+0.011%	$2.1M	$335K	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.394	+0.156%	$1.4M	$5.3M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	95.215	−0.033%	$18.3M	$38.6M	50x	as long as short
Kalshi KXHYPEPERP	+0.0121%	8h	95.278	+0.034%	$1.8M	$5.1M	2.3x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	95.312	+0.070%	$3.1M	$5.2M	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0138%	1h	95.341	+0.100%	$7.5M	$4.2M	50x	as long as short
Hyperliquid HYPE	+0.0154%	1h	95.372	+0.133%	$2.11B	$643.9M	10x	as long as short
BloFin HYPE-USDT	+0.0181%	4h	95.018	−0.239%	$17.4M	$11.6M	75x	as long as short
Reya HYPERUSDPERP	+0.0268%	1h	95.226	−0.021%	$85K	$90K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0155%	1h	95.292	+0.048%	$1.4M	—	100x	as long as short
Hibachi HYPE/USDT-P	+0.0768%	1h	95.140	−0.111%	$216K	$278K	7x	as long as short
Injective HYPE/USDC PERP	+0.0969%	1h	95.600	+0.372%	$31K	$334K	12x	as long as short