Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.017%

Price spread now: Aster against Lighter RH−0.007%7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$11as in the Funding arb table

Net, price: spread back to 7d avg − costs−$13as in the Price arb table

costs, in and out, $10k−$130.131% of the position

Long on Lighter RH Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.024%+$2 on $10k

Price spread, last 7 days+0.034%+$3 · spread now −0.007%, 7d avg −0.006%

Together, before fees+0.058%+ Points / potential airdropLighter RH: Points live · Aster: Stage 5 · farm board+$6 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH HYPE	92.743	0.0096	pay 0.0012% / 1h	24m 10s	$3.1M	$11.6M	20x
Short	Aster HYPEUSDT	92.736	0.0100	get 0.0050% / 4h	3h 24m	$8.7M	$36.1M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Lighter RH. 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 Lighter RHbpFee AsterbpOrdersPrice spread, now −0.007%Rate

Funding earned: $0.84
Price spread: −0.007% → −0.006%: −$0.09
Slippage, 4 orders: −$5.06
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$12.31
Costs to cover: 0.131%
Break-even: 109.6 days

Slippage from Lighter RH: live order book, 5 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 Lighter RH live order book, 5 min ago	1.13 bp	2.8 bp −$3	4.7 bp −$47	32.5 bp −$3,252	doesn't fit
Sell Aster live order book, 5 min ago	0.54 bp	4.6 bp −$5	6.0 bp −$60	13.7 bp −$1,372	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
Hibachi HYPE/USDT-P	−0.1656%	1h	92.636	−0.115%	$193K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0313%	1h	92.829	+0.093%	$22K	$21K	10x	as long as short
Arcus HYPE-USD	−0.0194%	1h	92.715	−0.030%	$1.1M	$3.9M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.789	+0.050%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0061%	4h	92.729	−0.015%	$145K	$681K	20x	as long as short
Bullet HYPE-USD	−0.0001%	1h	92.745	+0.002%	$112K	$577K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.827	+0.091%	$127K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.772	+0.031%	$22K	$293K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.770	+0.029%	$62K	—	150x	as long as short
Ondo Perps HYPE-USD.P	+0.0008%	1h	92.740	−0.003%	$698K	$1.1M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix HYPE	+0.0026%	1h	92.921	+0.192%	$210K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0032%	8h	92.730	−0.014%	$315.3M	$282.8M	75x	as long as short
01 Exchange HYPEUSD	+0.0032%	1h	92.752	+0.010%	$86K	$364K	20x	as long as short
Popdex HYPEUSDT	+0.0048%	1h	92.745	+0.002%	$70K	$1.1M	50x	as long as short
Bitget HYPEUSDT	+0.0048%	4h	92.725	−0.019%	$224.5M	$99.1M	75x	as long as short
Phemex HYPEUSDT	+0.0053%	8h	92.740	−0.003%	$12.5M	$2.7M	50x	as long as short
Gate HYPE_USDT	+0.0064%	4h	92.719	−0.026%	$45.1M	$54.3M	75x	as long as short
edgeX HYPEUSDC	+0.0092%	4h	92.837	+0.101%	$4.9M	$29.6M	30x	as long as short
Lighter HYPE	+0.0096%	1h	92.740	−0.003%	$16.0M	$62.7M	20x	as long as short
Lighter RH HYPElong	+0.0096%	1h	92.743	long leg	$3.1M	$11.6M	20x
Paradex HYPE-USD-PERP	+0.0099%	8h	92.772	+0.031%	$339K	$163K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.740	−0.003%	$34K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.735	−0.009%	$7.4M	$46.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.772	+0.031%	$2.02B	$665.2M	10x	as long as short
Aster HYPEUSDTshort	+0.0100%	4h	92.736	−0.007%	$8.7M	$36.1M	300x
Pacifica HYPE	+0.0100%	1h	92.778	+0.038%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.727	−0.017%	$372.9M	$905.5M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	92.731	−0.013%	$113.8M	$303.4M	50x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.727	−0.017%	$91.4M	$81.1M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.739	−0.004%	$46.1M	$18.4M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	92.730	−0.014%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.754	+0.012%	$7.2M	$11.2M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.768	+0.027%	$28.5M	$57.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.886	+0.154%	$7.5M	$46.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.846	+0.111%	$341K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.813	+0.075%	$667K	$2.9M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.801	+0.063%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.780	+0.040%	$482K	$2.7M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.737	−0.006%	$79K	$166K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.734	−0.010%	$16.0M	$7.6M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.786	+0.046%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.728	−0.016%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.900	+0.169%	$1.4M	$6.3M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.770	+0.029%	$202K	$13K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.710	−0.036%	$18.0M	$43.6M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.724	−0.021%	$392K	$164K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	92.780	+0.040%	$4.7M	$5.6M	50x	as long as short
Kalshi KXHYPEPERP	+0.0145%	8h	92.798	+0.059%	$1.8M	$5.4M	2.3x	as long as short
Kraken Futures PF_HYPEUSD	+0.0197%	1h	92.802	+0.064%	$20.6M	$30.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0242%	1h	92.750	+0.008%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0266%	1h	92.737	−0.007%	$79K	$131K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0310%	1h	92.829	+0.093%	$7.5M	$4.5M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.770	+0.030%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.759	+0.017%	$16.7M	$11.6M	75x	as long as short
RISEx HYPE/USDC	+0.0598%	1h	92.811	+0.074%	$3.1M	$6.4M	20x	as long as short