Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0321%/8h= −35.2% APRpaid last 24h −0.001%

Price spread now: Aftermath Perps against edgeX+0.127%7-day average — · you sell dearer than you buy

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

Long on edgeX 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—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

The price spread pays, funding is against you. Aftermath Perps is 0.127% dearer against edgeX than usual: you sell high and buy low (spread +0.127% now, against zero (this spread has no 7-day history yet)): +$13 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 32 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX HYPEUSDC	94.030	0.0058	pay 0.0029% / 4h	3h 34m	$5.1M	$29.8M	30x
Short	Aftermath Perps HYPEUSD	94.150	−0.0263	pay 0.0033% / 1h	34m 35s	$22K	$23K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps against edgeX. 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 edgeXbpFee Aftermath PerpsbpOrdersPrice spread, now +0.127%Rate

Funding earned: −$67.5
Price spread: +0.127% → 0.000%: $12.74
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: −$72.75
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 5 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 edgeX live order book, 5 min ago	0.37 bp	4.9 bp −$5	5.1 bp −$51	98.5 bp −$9,847	doesn't fit
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
Hibachi HYPE/USDT-P	−0.1448%	1h	94.155	+0.132%	$199K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0625%	1h	94.173	+0.152%	$1.2M	$3.8M	10x	as long as short
Phemex HYPEUSDT	−0.0268%	8h	94.233	+0.216%	$12.8M	$2.6M	50x	as long as short
Aftermath Perps HYPEUSDshort	−0.0263%	1h	94.150	+0.127%	$22K	$23K	10x
dYdX HYPE-USD	−0.0178%	1h	94.245	+0.229%	$129K	$31K	5x	as long as short
Ondo Perps HYPE-USD.P	−0.0152%	1h	94.200	+0.181%	$710K	$947K	10x	as long as short
Bullet HYPE-USD	−0.0094%	1h	94.242	+0.225%	$112K	$580K	20x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	94.293	+0.279%	$86K	$361K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.272	+0.257%	$3K	$331	25x	as long as short
Bybit HYPEUSDT	−0.0019%	8h	94.250	+0.234%	$323.8M	$280.7M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_HYPE_USDC	−0.0012%	4h	94.258	+0.242%	$166K	$604K	20x	as long as short
Perpl HYPE	0.0000%	43m	94.289	+0.275%	$23K	$327K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	94.279	+0.265%	$27K	—	150x	as long as short
Aster HYPEUSDT	+0.0024%	4h	94.269	+0.254%	$8.9M	$36.1M	300x	as long as short
Gate HYPE_USDT	+0.0030%	4h	94.262	+0.247%	$44.6M	$59.6M	75x	as long as short
Phoenix HYPE	+0.0034%	1h	94.173	+0.152%	$219K	$1.2M	10x	as long as short
Derive HYPE-PERP	+0.0048%	1h	94.208	+0.189%	$16.5M	$7.3M	10x	as long as short
MEXC HYPE_USDT	+0.0050%	4h	94.265	+0.250%	$89.5M	$82.4M	100x	as long as short
Binance HYPEUSDT	+0.0051%	4h	94.263	+0.248%	$384.5M	$893.5M	75x	as long as short
edgeX HYPEUSDClong	+0.0058%	4h	94.030	long leg	$5.1M	$29.8M	30x
OKX HYPE-USDT-SWAP	+0.0082%	8h	94.265	+0.250%	$116.4M	$319.5M	50x	as long as short
Lighter HYPE	+0.0096%	1h	94.327	+0.316%	$19.1M	$58.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.299	+0.286%	$3.1M	$12.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.245	+0.228%	$63K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	94.254	+0.238%	$401K	$193K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	94.301	+0.288%	$343K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.280	+0.266%	$24K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.249	+0.233%	$6.7M	$44.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.367	+0.358%	$2.06B	$675.9M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.289	+0.275%	$10.2M	$14.6M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.294	+0.281%	$46.7M	$18.2M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	94.273	+0.258%	$228.7M	$100.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.273	+0.258%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.275	+0.260%	$7.7M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.220	+0.202%	$31.8M	$54.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.045	+0.016%	$7.6M	$45.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.252	+0.236%	$341K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.245	+0.228%	$682K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.281	+0.266%	—	$271K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.266	+0.251%	$481K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	94.232	+0.215%	$76K	$171K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.319	+0.307%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.243	+0.226%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.120	+0.095%	$205K	$4K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.255	+0.239%	$19.1M	$44.2M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	94.280	+0.266%	$5.0M	$5.5M	50x	as long as short
BloFin HYPE-USDT	+0.0204%	4h	94.247	+0.231%	$17.0M	$12.3M	75x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.490	+0.489%	$31K	$338K	12x	as long as short
Kalshi KXHYPEPERP	+0.0209%	8h	94.307	+0.294%	$1.9M	$5.1M	2.3x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	94.323	+0.311%	$2.8M	$6.7M	20x	as long as short
Reya HYPERUSDPERP	+0.0251%	1h	94.242	+0.225%	$79K	$145K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0334% / S −0.0153%	1h	94.266	+0.251%	$1.5M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0355%	1h	94.337	+0.326%	$7.5M	$4.7M	50x	as long as short
HTX HYPE-USDT	+0.0449%	4h	94.428	+0.423%	$1.5M	$6.3M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0669%	1h	94.341	+0.330%	$21.1M	$29.7M	50x	as long as short