Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.011%

Price spread now: Aster against dYdX+0.017%7-day average −0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$710.709% of the position

Long on dYdX Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.095%+$10 on $10k

Price spread, last 4 days (all we have)+0.042%+$4 · spread now +0.017%, 7d avg −0.012%

Together, before fees+0.137%+ Points / potential airdropAster: Stage 5 · farm board+$14 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Aster is 0.029% dearer against dYdX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX HYPE-USD	92.674	0	get 0.0000% / 1h	24m 21s	$127K	$31K	5x
Short	Aster HYPEUSDT	92.690	0.0032	get 0.0016% / 4h	24m 21s	$8.7M	$36.3M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against dYdX. 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 dYdXbpFee AsterbpOrdersPrice spread, now +0.017%Rate

Funding earned: $6.62
Price spread: +0.017% → −0.012%: $2.89
Slippage, 4 orders: −$52.92
Fee dYdX: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$61.41
Costs to cover: 0.709%
Break-even: 71.9 days

Slippage from dYdX: live order book, 35 min ago; Aster: live order book, 5 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 dYdX live order book, 35 min ago	26.34 bp	31.3 bp −$31	43.7 bp −$437	139.8 bp −$14.0K	1018.5 bp −$509.3K
Sell Aster live order book, 5 min ago	0.11 bp	4.1 bp −$4	4.7 bp −$47	12.4 bp −$1,243	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
Arcus HYPE-USD	−0.0948%	1h	92.646	−0.031%	$1.1M	$3.9M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0264%	1h	92.680	+0.006%	$194K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0222%	1h	92.616	−0.063%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.700	+0.028%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0065%	4h	92.672	−0.003%	$157K	$666K	20x	as long as short
01 Exchange HYPEUSD	−0.0032%	1h	92.747	+0.078%	$87K	$359K	20x	as long as short
dYdX HYPE-USDlong	0.0000%	1h	92.674	long leg	$127K	$31K	5x
Perpl HYPE	0.0000%	43m	92.692	+0.018%	$22K	$304K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.728	+0.058%	$62K	—	150x	as long as short
Phemex HYPEUSDT	+0.0024%	8h	92.693	+0.020%	$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	+0.0026%	1h	92.640	−0.037%	$697K	$1.1M	10x	as long as short
Bullet HYPE-USD	+0.0028%	1h	92.698	+0.025%	$111K	$579K	20x	as long as short
Aster HYPEUSDTshort	+0.0032%	4h	92.690	+0.017%	$8.7M	$36.3M	300x
BingX HYPE-USDT	+0.0040%	4h	92.703	+0.031%	—	$53.4M	—	as long as short
Phoenix HYPE	+0.0043%	1h	92.652	−0.024%	$210K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0051%	8h	92.700	+0.028%	$316.7M	$282.1M	75x	as long as short
Gate HYPE_USDT	+0.0082%	4h	92.697	+0.024%	$44.5M	$55.2M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0086%	8h	92.704	+0.032%	$113.5M	$304.3M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0093%	8h	92.750	+0.082%	$339K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.712	+0.041%	$16.0M	$62.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.729	+0.059%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.716	+0.045%	$69K	$1.1M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.680	+0.006%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.712	+0.040%	$6.6M	$44.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.733	+0.063%	$2.02B	$662.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.710	+0.038%	$10.0M	$15.1M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.711	+0.039%	$372.1M	$904.1M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.709	+0.037%	$87.5M	$80.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.708	+0.036%	$46.0M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.712	+0.041%	$224.7M	$98.3M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.660	−0.016%	$7.3M	$11.1M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.628	−0.050%	$28.5M	$57.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.667	−0.008%	$7.5M	$46.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.687	+0.014%	$349K	$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	92.756	+0.088%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.724	+0.054%	$465K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.678	+0.004%	$78K	$170K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.670	−0.005%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.639	−0.038%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.681	+0.007%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.837	+0.175%	$1.4M	$6.2M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.701	+0.029%	$202K	$13K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.667	−0.008%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.712	+0.040%	$392K	$164K	20x	as long as short
edgeX HYPEUSDC	+0.0107%	4h	92.611	−0.068%	$5.0M	$29.5M	30x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	92.590	−0.091%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.710	+0.038%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0244%	8h	92.727	+0.057%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0262%	1h	92.718	+0.048%	$79K	$137K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0154%	1h	92.716	+0.045%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0332%	1h	92.748	+0.080%	$20.6M	$30.5M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.668	−0.007%	$16.6M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0408%	1h	92.775	+0.109%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.781	+0.114%	$3.2M	$6.4M	20x	as long as short