Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0473%/8h= −51.8% APRpaid last 24h −0.030%

Price spread now: Aftermath Perps against KuCoin+0.027%45s7-day average — · you sell dearer than you buy

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

Long on KuCoin 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

The price spread pays, funding is against you. Aftermath Perps is 0.027% dearer against KuCoin than usual: you sell high and buy low (spread +0.027% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 5 hours. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin HYPEUSDTM	93.522	0.0100	pay 0.0050% / 4h	2h 49m	$46.8M	$18.7M	75x
Short	Aftermath Perps HYPEUSD	93.547	−0.0373	pay 0.0047% / 1h	49m 35s	$22K	$21K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps against KuCoin. 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 KuCoinbpFee Aftermath PerpsbpOrdersPrice spread, now +0.027%Rate

Funding earned: −$99.42
Price spread: +0.027% → 0.000%: $2.69
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: −$117.73
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 4 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 KuCoin live order book, 4 min ago	0.05 bp	11.4 bp −$11	15.6 bp −$156	doesn't fit	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	−0.1848%	1h	93.418	−0.111%	$196K	$232K	7x	as long as short
Aftermath Perps HYPEUSDshort	−0.0373%	1h	93.547	+0.027%	$22K	$21K	10x
Bullet HYPE-USD	−0.0082%	1h	93.541	+0.021%	$112K	$578K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.494	−0.030%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0033%	4h	93.512	−0.011%	$146K	$663K	20x	as long as short
01 Exchange HYPEUSD	−0.0032%	1h	93.528	+0.006%	$88K	$365K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0011%	1h	93.580	+0.062%	$704K	$1.2M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.530	+0.009%	$128K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.556	+0.037%	$22K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.557	+0.037%	$62K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus HYPE-USD	+0.0011%	1h	93.473	−0.052%	$1.0M	$3.9M	10x	as long as short
Phemex HYPEUSDT	+0.0018%	8h	93.489	−0.035%	$12.6M	$2.7M	50x	as long as short
Bitget HYPEUSDT	+0.0018%	4h	93.501	−0.022%	$226.2M	$99.0M	75x	as long as short
Bybit HYPEUSDT	+0.0025%	8h	93.490	−0.034%	$318.0M	$283.6M	75x	as long as short
Phoenix HYPE	+0.0026%	1h	93.701	+0.191%	$210K	$1.2M	10x	as long as short
edgeX HYPEUSDC	+0.0083%	4h	93.497	−0.027%	$5.0M	$29.9M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	93.552	+0.032%	$340K	$162K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.522	0.000%	$16.2M	$63.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.522	0.000%	$3.1M	$11.4M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.501	−0.022%	$77K	$1.1M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.500	−0.024%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.511	−0.011%	$7.6M	$48.3M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.567	+0.048%	$2.04B	$666.3M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.496	−0.028%	$8.7M	$36.4M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.547	+0.027%	$10.1M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.502	−0.021%	$374.9M	$910.9M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.500	−0.024%	$114.7M	$309.3M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.614	+0.099%	$204K	$3K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	93.500	−0.024%	$46.4M	$54.0M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.508	−0.015%	$92.0M	$80.2M	100x	as long as short
KuCoin HYPEUSDTMlong	+0.0100%	4h	93.522	long leg	$46.8M	$18.7M	75x
BingX HYPE-USDT	+0.0100%	4h	93.498	−0.026%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.516	−0.006%	$7.3M	$10.8M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.649	+0.135%	$28.7M	$56.6M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.675	+0.164%	$7.6M	$47.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.596	+0.079%	$343K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.626	+0.111%	$670K	$2.9M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.574	+0.056%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.527	+0.005%	$490K	$2.7M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.493	−0.031%	$79K	$166K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.486	−0.039%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.580	+0.062%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.463	−0.063%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.650	+0.137%	$1.4M	$6.4M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.475	−0.050%	$18.2M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.526	+0.004%	$395K	$161K	20x	as long as short
Kalshi KXHYPEPERP	+0.0120%	8h	93.666	+0.154%	$1.8M	$5.6M	2.3x	as long as short
Injective HYPE/USDC PERP	+0.0122%	1h	93.570	+0.051%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.550	+0.030%	$4.8M	$5.6M	50x	as long as short
Reya HYPERUSDPERP	+0.0268%	1h	93.496	−0.028%	$80K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0154%	1h	93.548	+0.028%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.673	+0.161%	$16.9M	$11.9M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0341%	1h	93.526	+0.004%	$20.8M	$29.6M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0381%	1h	93.572	+0.053%	$7.5M	$4.0M	50x	as long as short
RISEx HYPE/USDC	+0.0527%	1h	93.568	+0.049%	$3.2M	$6.3M	20x	as long as short