Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:22 UTC+0.0064%/8h= +7.0% APRpaid last 24h −0.003%

Price spread now: Perpl against Aftermath Perps+0.022%7-day average — · you sell dearer than you buy

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

Long on Aftermath Perps Short on Perpl

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropPerpl: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Perpl is 0.022% dearer against Aftermath Perps than usual: you sell high and buy low: +$2 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aftermath Perps HYPEUSD	93.218	−0.0064	get 0.0008% / 1h	10m 54s	$22K	$21K	10x
Short	Perpl HYPE	93.238	0	get 0.0000% / 43m	41m 54s	$23K	$319K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Perpl against Aftermath Perps. 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 Aftermath PerpsbpFee PerplbpOrdersPrice spread, now +0.022%Rate

Funding earned: $13.44
Price spread: +0.022% → 0.000%: $2.18
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Net: −$7.18
Costs to cover: 0.228%
Break-even: 10.7 days

Slippage unknown: Aftermath Perps: no order-book sample; Perpl: 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 Aftermath Perps no order-book sample	—	—	—	—	—
Sell Perpl no order-book sample	—	—	—	—	—

Aftermath Perps and Perpl: 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 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	−0.1000%	1h	93.101	−0.125%	$197K	$227K	7x	as long as short
Arcus HYPE-USD	−0.0899%	1h	93.117	−0.108%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0130%	1h	93.170	−0.051%	$698K	$1.0M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.234	+0.018%	$3K	$331	25x	as long as short
Aftermath Perps HYPEUSDlong	−0.0064%	1h	93.218	long leg	$22K	$21K	10x
01 Exchange HYPEUSD	−0.0056%	1h	93.262	+0.048%	$85K	$345K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0048%	4h	93.270	+0.056%	$155K	$654K	20x	as long as short
Phemex HYPEUSDT	−0.0003%	8h	93.277	+0.064%	$12.6M	$2.7M	50x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.241	+0.026%	$128K	$31K	5x	as long as short
Perpl HYPEshort	0.0000%	43m	93.238	+0.022%	$23K	$319K	10x

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.268	+0.054%	$63K	—	150x	as long as short
Bullet HYPE-USD	+0.0008%	1h	93.226	+0.009%	$111K	$579K	20x	as long as short
Aster HYPEUSDT	+0.0018%	4h	93.294	+0.082%	$8.8M	$35.9M	300x	as long as short
Phoenix HYPE	+0.0026%	1h	93.156	−0.066%	$212K	$1.2M	10x	as long as short
BingX HYPE-USDT	+0.0036%	4h	93.303	+0.092%	—	$53.0M	—	as long as short
Gate HYPE_USDT	+0.0046%	4h	93.298	+0.086%	$44.6M	$55.5M	75x	as long as short
Bybit HYPEUSDT	+0.0047%	8h	93.300	+0.088%	$321.0M	$276.9M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0077%	8h	93.296	+0.084%	$113.8M	$299.6M	50x	as long as short
Derive HYPE-PERP	+0.0086%	1h	93.247	+0.032%	$16.2M	$7.5M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.307	+0.096%	$16.2M	$62.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.300	+0.088%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.243	+0.027%	$67K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.280	+0.067%	$339K	$162K	20x	as long as short
MEXC HYPE_USDT	+0.0098%	4h	93.307	+0.096%	$89.6M	$81.2M	100x	as long as short
Binance HYPEUSDT	+0.0098%	4h	93.312	+0.101%	$377.3M	$880.2M	75x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.230	+0.013%	$24K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.243	+0.027%	$5.8M	$43.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.358	+0.151%	$2.04B	$657.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.252	+0.037%	$10.0M	$14.8M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.308	+0.097%	$45.9M	$18.2M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.299	+0.087%	$225.6M	$96.4M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.280	+0.067%	$7.4M	$10.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.197	−0.022%	$31.4M	$53.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.122	−0.102%	$7.5M	$46.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.125	−0.099%	$338K	$998K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.143	−0.080%	$665K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.261	+0.047%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.276	+0.063%	$473K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.268	+0.054%	$79K	$167K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.328	+0.119%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.298	+0.086%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.155	−0.067%	$203K	$10K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.278	+0.065%	$18.3M	$42.9M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.287	+0.074%	$397K	$162K	20x	as long as short
edgeX HYPEUSDC	+0.0112%	4h	93.083	−0.145%	$5.0M	$28.9M	30x	as long as short
HTX HYPE-USDT	+0.0137%	4h	93.400	+0.196%	$1.4M	$6.0M	75x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.340	+0.131%	$4.8M	$5.5M	50x	as long as short
Reya HYPERUSDPERP	+0.0259%	1h	93.236	+0.020%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0268%	8h	93.317	+0.107%	$1.9M	$5.2M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0156%	1h	93.269	+0.056%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0338%	4h	93.247	+0.032%	$17.0M	$11.5M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0436%	1h	93.390	+0.185%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0510%	1h	93.338	+0.129%	$3.2M	$6.3M	20x	as long as short
Injective HYPE/USDC PERP	+0.0519%	1h	93.160	−0.062%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0685%	1h	93.350	+0.142%	$20.7M	$29.8M	50x	as long as short