Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0270%/8h= −29.6% APRpaid last 24h −0.003%

Price spread now: Aftermath Perps against Bybit−0.026%7-day average — · you buy dearer than you sell

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

Long on Bybit Short on Aftermath Perps

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—needs both histories

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Aftermath Perps is 0.026% cheaper against Bybit than usual: you would sell low and buy high (−$3 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	Bybit HYPEUSDT	92.656	0.0048	pay 0.0048% / 8h	4h 23m	$316.5M	$282.0M	75x
Short	Aftermath Perps HYPEUSD	92.632	−0.0222	pay 0.0028% / 1h	23m 19s	$22K	$21K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps against Bybit. 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 BybitbpFee Aftermath PerpsbpOrdersPrice spread, now −0.026%Rate

Funding earned: −$56.69
Price spread: −0.026% → 0.000%: −$2.59
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: −$79.28
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 6 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 Bybit live order book, 6 min ago	0.54 bp	7.1 bp −$7	8.3 bp −$83	17.0 bp −$1,703	54.4 bp −$27.2K
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 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
Arcus HYPE-USD	−0.0948%	1h	92.614	−0.045%	$1.1M	$3.9M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0264%	1h	92.680	+0.026%	$194K	$229K	7x	as long as short
Aftermath Perps HYPEUSDshort	−0.0222%	1h	92.632	−0.026%	$22K	$21K	10x
Hotstuff HYPE-PERP	−0.0080%	1h	92.700	+0.047%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0064%	4h	92.641	−0.016%	$157K	$666K	20x	as long as short
01 Exchange HYPEUSD	−0.0024%	1h	92.700	+0.047%	$87K	$359K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.674	+0.020%	$127K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.688	+0.035%	$22K	$304K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.696	+0.043%	$62K	—	150x	as long as short
Phemex HYPEUSDT	+0.0020%	8h	92.747	+0.098%	$12.5M	$2.7M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps HYPE-USD.P	+0.0024%	1h	92.640	−0.017%	$697K	$1.1M	10x	as long as short
Bullet HYPE-USD	+0.0027%	1h	92.662	+0.006%	$111K	$579K	20x	as long as short
Aster HYPEUSDT	+0.0035%	4h	92.675	+0.021%	$8.7M	$36.3M	300x	as long as short
BingX HYPE-USDT	+0.0040%	4h	92.675	+0.021%	—	$53.4M	—	as long as short
Phoenix HYPE	+0.0043%	1h	92.652	−0.004%	$210K	$1.2M	10x	as long as short
Bybit HYPEUSDTlong	+0.0048%	8h	92.656	long leg	$316.5M	$282.0M	75x
Gate HYPE_USDT	+0.0082%	4h	92.666	+0.011%	$44.5M	$55.2M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0086%	8h	92.678	+0.024%	$113.5M	$304.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0093%	8h	92.713	+0.061%	$339K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.687	+0.033%	$16.0M	$62.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.705	+0.053%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.677	+0.023%	$69K	$1.1M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.660	+0.004%	$41K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.680	+0.026%	$6.5M	$44.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.702	+0.050%	$2.02B	$662.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.705	+0.053%	$10.0M	$15.1M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.675	+0.021%	$372.0M	$904.0M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.675	+0.021%	$87.5M	$80.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.676	+0.022%	$46.0M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.663	+0.008%	$224.3M	$98.9M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.700	+0.047%	$7.3M	$11.1M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.628	−0.030%	$28.5M	$57.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.667	+0.012%	$7.5M	$46.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.679	+0.025%	$350K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.665	+0.010%	$664K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.729	+0.079%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.687	+0.033%	$465K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.647	−0.010%	$78K	$170K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.670	+0.015%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.676	+0.022%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.682	+0.028%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.841	+0.200%	$1.4M	$6.2M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.701	+0.049%	$202K	$13K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.657	+0.002%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.684	+0.030%	$392K	$164K	20x	as long as short
edgeX HYPEUSDC	+0.0117%	4h	92.646	−0.010%	$5.0M	$29.5M	30x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	93.000	+0.371%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.720	+0.069%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0242%	8h	92.779	+0.133%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0262%	1h	92.664	+0.008%	$79K	$134K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0154%	1h	92.679	+0.024%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0332%	1h	92.743	+0.094%	$20.6M	$30.5M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.668	+0.013%	$16.6M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0386%	1h	92.768	+0.121%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.742	+0.092%	$3.2M	$6.4M	20x	as long as short