Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.011%

Price spread now: gTrade (Gains Network) against Aster+0.104%7-day average +0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$274as in the Price arb table

costs, in and out, $10k−$2832.828% of the position

Long on Aster Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.080%−$8 on $10k

Price spread, last 4 days (all we have)−0.098%−$10 · spread now +0.104%, 7d avg +0.016%

Together, before fees−0.178%+ Points / potential airdropAster: Stage 5 · farm board−$18 on $10k · with fees, hour by hour

The price spread pays, funding is against you. gTrade (Gains Network) is 0.089% dearer against Aster than usual: you sell high and buy low (spread +0.104% now, against its 7-day average of +0.016%): +$9 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster HYPEUSDT	94.238	0.0100	pay 0.0050% / 4h	3h 32m	$9.5M	$37.5M	300x
Short	gTrade (Gains Network) HYPE/USD	94.336	L +0.0002% / S 0.0000%	get 0.0000% / 1h	32m 40s	$123K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Aster. 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 AsterbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.104%Rate

Funding earned: −$20.93
Price spread: +0.104% → +0.016%: $8.87
Slippage, 4 orders: −$264.85
Fee Aster: 4 bp × 2 orders: −$8
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$294.9
Costs to cover: 2.828%
Break-even: never at this rate

Slippage from Aster: live order book, 6 min ago; gTrade (Gains Network): virtual book (oracle venue), 31 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 Aster live order book, 6 min ago	1.59 bp	7.2 bp −$7	7.3 bp −$73	15.4 bp −$1,536	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 31 min ago	130.00 bp	135.0 bp −$135	135.0 bp −$1,350	1364.4 bp −$136.4K	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	−0.0880%	1h	94.602	+0.386%	$207K	$268K	7x	as long as short
Bluefin HYPE-PERP	−0.0618%	1h	94.287	+0.052%	$80K	$150K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0308%	1h	94.670	+0.458%	$22K	$20K	10x	as long as short
Bullet HYPE-USD	−0.0236%	1h	94.320	+0.087%	$112K	$577K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0170%	1h	94.300	+0.066%	$704K	$1.3M	10x	as long as short
Arcus HYPE-USD	−0.0112%	1h	94.345	+0.114%	$1.0M	$3.5M	10x	as long as short
Gate HYPE_USDT	−0.0100%	4h	94.235	−0.003%	$51.3M	$55.1M	75x	as long as short
01 Exchange HYPEUSD	−0.0096%	1h	94.376	+0.146%	$89K	$365K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.377	+0.148%	$3K	$331	25x	as long as short
Kraken Futures PF_HYPEUSD	−0.0048%	1h	94.309	+0.075%	$18.9M	$35.4M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit HYPEUSDT	−0.0024%	8h	94.222	−0.017%	$317.0M	$296.8M	75x	as long as short
Orderly PERP_HYPE_USDC	−0.0008%	4h	94.308	+0.074%	$147K	$681K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.317	+0.084%	$129K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.451	+0.226%	$1.8M	$5.6M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.608	+0.392%	$19K	$285K	10x	as long as short
gTrade (Gains Network) HYPE/USDshort	L +0.0002% / S 0.0000%	1h	94.336	+0.104%	$123K	—	150x
Phoenix HYPE	+0.0008%	1h	94.654	+0.441%	$210K	$1.2M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0016%	1h	94.330	+0.098%	$4.7M	$6.3M	50x	as long as short
Bitget HYPEUSDT	+0.0028%	4h	94.246	+0.009%	$226.4M	$99.4M	75x	as long as short
Derive HYPE-PERP	+0.0034%	1h	94.592	+0.376%	$16.3M	$7.5M	10x	as long as short
Vest HYPE-PERP	+0.0041%	1h	94.467	+0.243%	—	$190K	5x	as long as short
Paradex HYPE-USD-PERP	+0.0047%	8h	94.368	+0.138%	$337K	$154K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0049%	8h	94.216	−0.023%	$117.6M	$327.8M	50x	as long as short
Phemex HYPEUSDT	+0.0064%	8h	94.326	+0.093%	$12.9M	$2.9M	50x	as long as short
SoDEX HYPE-USD	+0.0068%	1h	94.330	+0.098%	$2.1M	$2.0M	10x	as long as short
Backpack HYPE_USDC_PERP	+0.0074%	1h	94.239	+0.001%	$7.5M	$10.4M	20x	as long as short
edgeX HYPEUSDC	+0.0080%	4h	94.626	+0.412%	$5.0M	$30.9M	30x	as long as short
Lighter HYPE	+0.0096%	1h	94.248	+0.011%	$16.2M	$62.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.240	+0.002%	$3.2M	$10.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.356	+0.125%	$148K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.380	+0.151%	$40K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.391	+0.163%	$7.2M	$51.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.332	+0.100%	$2.07B	$687.6M	10x	as long as short
Aster HYPEUSDTlong	+0.0100%	4h	94.238	long leg	$9.5M	$37.5M	300x
Pacifica HYPE	+0.0100%	1h	94.387	+0.158%	$10.2M	$14.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.239	+0.001%	$379.5M	$937.2M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.564	+0.346%	$220K	$14K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.278	+0.042%	$93.4M	$86.5M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.279	+0.044%	$47.0M	$19.1M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.247	+0.010%	—	$53.5M	—	as long as short
Variational Omni HYPE	+0.0100%	8h	94.619	+0.405%	$30.0M	$56.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.643	+0.430%	$7.6M	$44.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.587	+0.370%	$345K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.634	+0.420%	$696K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.460	+0.236%	$498K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.369	+0.139%	$32K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.500	+0.278%	$1.4M	$6.9M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.235	−0.003%	$18.4M	$43.4M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.343	+0.112%	$399K	$153K	20x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	94.412	+0.184%	$3.1M	$6.4M	20x	as long as short
Injective HYPE/USDC PERP	+0.0153%	1h	95.170	+0.989%	$31K	$340K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0237%	1h	94.428	+0.202%	$7.5M	$4.4M	50x	as long as short
Reya HYPERUSDPERP	+0.0271%	1h	94.540	+0.321%	$85K	$104K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0156%	1h	94.382	+0.152%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.303	+0.069%	$17.2M	$12.6M	75x	as long as short