Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0250%/8h= −27.4% APRpaid last 24h −0.045%

Price spread now: Aftermath Perps against BingX−0.045%7-day average — · you buy dearer than you sell

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

Long on BingX Short on Aftermath Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Aftermath Perps is 0.045% cheaper against BingX than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX HYPE-USDT	95.215	0.0058	pay 0.0029% / 4h	1h 29m	—	$49.0M	—
Short	Aftermath Perps HYPEUSD	95.172	−0.0192	pay 0.0024% / 1h	29m 14s	$22K	$17K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps against BingX. 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 BingXbpFee Aftermath PerpsbpOrdersPrice spread, now −0.045%Rate

Funding earned: −$52.49
Price spread: −0.045% → 0.000%: −$4.5
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: −$75.98
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 3 min ago; Aftermath 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 BingX live order book, 3 min ago	0.10 bp	5.9 bp −$6	7.2 bp −$72	10.9 bp −$1,089	16.2 bp −$8,080
Sell Aftermath Perps no order-book sample	—	—	—	—	—

Aftermath 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 54 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	−0.0262%	8h	95.173	−0.044%	$13.0M	$2.3M	50x	as long as short
Kraken Futures PF_HYPEUSD	−0.0251%	1h	95.250	+0.037%	$18.5M	$35.0M	50x	as long as short
Hibachi HYPE/USDT-P	−0.0232%	1h	95.274	+0.062%	$218K	$275K	7x	as long as short
Aftermath Perps HYPEUSDshort	−0.0192%	1h	95.172	−0.045%	$22K	$17K	10x
Ondo Perps HYPE-USD.P	−0.0146%	1h	95.080	−0.142%	$687K	$1.3M	10x	as long as short
Arcus HYPE-USD	−0.0130%	1h	95.182	−0.035%	$1.0M	$2.4M	10x	as long as short
01 Exchange HYPEUSD	−0.0112%	1h	95.216	+0.001%	$102K	$344K	20x	as long as short
Bullet HYPE-USD	−0.0085%	1h	95.201	−0.015%	$113K	$580K	20x	as long as short
Gate HYPE_USDT	−0.0082%	4h	95.221	+0.006%	$55.3M	$53.6M	75x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	95.162	−0.056%	$3K	$331	25x	as long as short

Show all 54 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bluefin HYPE-PERP	−0.0064%	1h	95.217	+0.002%	$79K	$134K	20x	as long as short
Aster HYPEUSDT	−0.0061%	4h	95.213	−0.002%	$9.0M	$32.7M	300x	as long as short
Lighter HYPE	−0.0056%	1h	95.220	+0.005%	$16.5M	$58.1M	20x	as long as short
Coinbase International HYPE-PERP-INTX	−0.0056%	1h	95.230	+0.016%	$4.7M	$5.5M	50x	as long as short
Orderly PERP_HYPE_USDC	−0.0055%	4h	95.196	−0.020%	$148K	$642K	20x	as long as short
OKX HYPE-USDT-SWAP	−0.0021%	8h	95.190	−0.026%	$119.1M	$303.7M	50x	as long as short
ApeX Omni HYPEUSDT	−0.0017%	1h	95.150	−0.068%	$342K	$901K	50x	as long as short
Phoenix HYPE	−0.0008%	1h	95.062	−0.161%	$202K	$1.1M	10x	as long as short
Bitget HYPEUSDT	−0.0002%	4h	95.170	−0.047%	$228.8M	$85.7M	75x	as long as short
Perpl HYPE	0.0000%	43m	95.214	−0.001%	$24K	$250K	10x	as long as short
Deribit HYPE_USDC-PERPETUAL	0.0000%	1h	95.296	+0.085%	$7.5M	$4.3M	50x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	95.169	−0.049%	$114K	—	150x	as long as short
Popdex HYPEUSDT	+0.0008%	1h	95.224	+0.009%	$275K	$1.0M	50x	as long as short
Bybit HYPEUSDT	+0.0022%	8h	95.210	−0.005%	$322.2M	$263.4M	75x	as long as short
dYdX HYPE-USD	+0.0038%	1h	95.147	−0.072%	$128K	$94K	5x	as long as short
edgeX HYPEUSDC	+0.0048%	4h	95.101	−0.120%	$5.1M	$28.8M	30x	as long as short
MEXC HYPE_USDT	+0.0056%	4h	95.219	+0.004%	$90.1M	$84.0M	100x	as long as short
Binance HYPEUSDT	+0.0056%	4h	95.215	0.000%	$382.9M	$849.3M	75x	as long as short
BingX HYPE-USDTlong	+0.0058%	4h	95.215	long leg	—	$49.0M	—
StandX HYPE-USD	+0.0080%	1h	95.082	−0.140%	$692K	$2.7M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0084%	8h	95.138	−0.080%	$339K	$30K	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	95.234	+0.020%	$3.4M	$10.1M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	95.229	+0.014%	$403K	$125K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	95.180	−0.037%	$39K	$1.5M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	95.215	+0.001%	$7.3M	$50.9M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	95.180	−0.036%	$10.3M	$13.1M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	95.174	−0.043%	$230K	$17K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	95.216	+0.001%	$47.7M	$17.7M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	95.176	−0.041%	$7.0M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	95.093	−0.128%	$29.6M	$52.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	95.129	−0.090%	$7.7M	$40.5M	10x	as long as short
Vest HYPE-PERP	+0.0100%	1h	95.257	+0.044%	—	$80K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	95.252	+0.039%	$504K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	95.242	+0.028%	$33K	$1.4M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	95.220	+0.005%	$2.1M	$334K	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.327	+0.118%	$1.4M	$5.2M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	95.184	−0.033%	$18.3M	$39.1M	50x	as long as short
Kalshi KXHYPEPERP	+0.0128%	8h	95.274	+0.062%	$1.8M	$5.1M	2.3x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	95.152	−0.066%	$3.1M	$5.2M	20x	as long as short
Hyperliquid HYPE	+0.0206%	1h	95.346	+0.138%	$2.11B	$646.0M	10x	as long as short
BloFin HYPE-USDT	+0.0230%	4h	95.206	−0.009%	$17.4M	$11.4M	75x	as long as short
Reya HYPERUSDPERP	+0.0269%	1h	95.098	−0.123%	$85K	$90K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0155%	1h	95.255	+0.042%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0969%	1h	95.500	+0.299%	$31K	$334K	12x	as long as short