Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0086%/8h= +9.4% APRpaid last 24h +0.066%

Price spread now: Hyperliquid against Aster+0.095%7-day average +0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$8as in the Funding arb table

Net, price: spread back to 7d avg − costs−$11as in the Price arb table

costs, in and out, $10k−$180.185% of the position

Long on Aster Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.105%+$11 on $10k

Price spread, last 7 days−0.098%−$10 · spread now +0.095%, 7d avg +0.018%

Together, before fees+0.008%+ Points / potential airdropAster: Stage 5 · Hyperliquid: Season 2 · farm board+$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Hyperliquid is 0.077% dearer against Aster than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster HYPEUSDT	93.977	0.0014	pay 0.0007% / 4h	4m 49s	$8.9M	$36.1M	300x
Short	Hyperliquid HYPE	94.066	0.0100	get 0.0013% / 1h	4m 49s	$2.05B	$679.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.095%Rate

Funding earned: $18
Price spread: +0.095% → +0.018%: $7.71
Slippage, 4 orders: −$1.46
Fee Aster: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $7.25
Costs to cover: 0.185%
Break-even: 4.2 days

Slippage from Aster: live order book, 4 min ago; Hyperliquid: live order book, 9 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, 4 min ago	0.59 bp	4.7 bp −$5	5.0 bp −$50	10.4 bp −$1,036	doesn't fit
Sell Hyperliquid live order book, 9 min ago	0.05 bp	4.6 bp −$5	6.8 bp −$68	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	−0.1360%	1h	93.771	−0.220%	$198K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0367%	1h	93.895	−0.088%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	93.732	−0.261%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0126%	1h	93.760	−0.231%	$704K	$919K	10x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	93.817	−0.170%	$86K	$368K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.842	−0.144%	$3K	$331	25x	as long as short
Derive HYPE-PERP	−0.0010%	1h	93.784	−0.206%	$16.4M	$7.2M	10x	as long as short
Orderly PERP_HYPE_USDC	−0.0004%	4h	93.844	−0.142%	$170K	$593K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.987	+0.011%	$128K	$30K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.854	−0.131%	$23K	$329K	10x	as long as short

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 −0.0003%	1h	93.864	−0.120%	$27K	—	150x	as long as short
Phoenix HYPE	+0.0009%	1h	93.978	+0.001%	$217K	$1.2M	10x	as long as short
Aster HYPEUSDTlong	+0.0014%	4h	93.977	long leg	$8.9M	$36.1M	300x
Bybit HYPEUSDT	+0.0019%	8h	93.953	−0.026%	$323.4M	$284.0M	75x	as long as short
Phemex HYPEUSDT	+0.0038%	8h	93.826	−0.161%	$12.8M	$2.6M	50x	as long as short
MEXC HYPE_USDT	+0.0046%	4h	93.970	−0.007%	$88.4M	$82.3M	100x	as long as short
Binance HYPEUSDT	+0.0047%	4h	93.976	−0.001%	$384.1M	$898.4M	75x	as long as short
Popdex HYPEUSDT	+0.0056%	1h	93.830	−0.156%	$60K	$1.2M	50x	as long as short
edgeX HYPEUSDC	+0.0064%	4h	93.859	−0.125%	$5.1M	$29.7M	30x	as long as short
Gate HYPE_USDT	+0.0066%	4h	93.963	−0.015%	$44.2M	$60.0M	75x	as long as short
Bullet HYPE-USD	+0.0087%	1h	93.827	−0.160%	$112K	$578K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0088%	8h	93.969	−0.009%	$116.0M	$323.0M	50x	as long as short
Lighter HYPE	+0.0096%	1h	94.025	+0.051%	$18.9M	$60.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.994	+0.018%	$3.0M	$12.3M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.865	−0.120%	$399K	$318K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.820	−0.167%	$36K	$1.6M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	94.014	+0.039%	$341K	$171K	20x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.838	−0.147%	$5.7M	$44.4M	10x	as long as short
Hyperliquid HYPEshort	+0.0100%	1h	94.066	+0.095%	$2.05B	$679.8M	10x
Pacifica HYPE	+0.0100%	1h	94.005	+0.030%	$10.1M	$14.5M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.889	−0.094%	$205K	$7K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.869	−0.115%	$46.5M	$18.6M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.980	+0.003%	$227.6M	$102.2M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.955	−0.023%	—	$54.2M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.890	−0.093%	$7.9M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.812	−0.175%	$31.3M	$54.2M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.967	−0.011%	$7.6M	$45.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.849	−0.136%	$340K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.908	−0.073%	$679K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.866	−0.118%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.853	−0.132%	$470K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.864	−0.120%	$76K	$171K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.862	−0.122%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.861	−0.123%	$2.0M	$2.0M	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.410	+0.461%	$31K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.947	−0.032%	$18.3M	$42.8M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	93.940	−0.039%	$4.9M	$5.7M	50x	as long as short
Kalshi KXHYPEPERP	+0.0156%	8h	93.911	−0.070%	$1.9M	$5.0M	2.3x	as long as short
BloFin HYPE-USDT	+0.0187%	4h	93.859	−0.126%	$17.0M	$12.5M	75x	as long as short
HTX HYPE-USDT	+0.0192%	4h	94.012	+0.037%	$1.5M	$7.8M	75x	as long as short
Reya HYPERUSDPERP	+0.0250%	1h	93.822	−0.165%	$77K	$142K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0261%	1h	93.954	−0.024%	$7.5M	$4.6M	50x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	93.879	−0.104%	$2.8M	$6.8M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0163%	1h	93.856	−0.129%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0577%	1h	93.980	+0.003%	$21.0M	$29.5M	50x	as long as short