Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0125%/8h= −13.7% APRpaid last 24h −0.047%

Price spread now: Aftermath Perps against OKX−0.013%7-day average — · you buy dearer than you sell

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

Long on OKX Short on Aftermath Perps

What this pair did over the last

the charts below follow

Funding, last 4 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 sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX HYPE-USDT-SWAP	95.255	−0.0010	get 0.0010% / 8h	5h 55m	$119.3M	$303.9M	50x
Short	Aftermath Perps HYPEUSD	95.243	−0.0135	pay 0.0017% / 1h	55m 25s	$22K	$17K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps against OKX. 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 OKXbpFee Aftermath PerpsbpOrdersPrice spread, now −0.013%Rate

Funding earned: −$26.33
Price spread: −0.013% → 0.000%: −$1.27
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: −$46.6
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 2 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 OKX live order book, 2 min ago	0.05 bp	5.7 bp −$6	6.2 bp −$62	13.1 bp −$1,305	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 54 exchanges

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	−0.1272%	1h	95.275	+0.021%	$213K	$261K	7x	as long as short
Phemex HYPEUSDT	−0.0285%	8h	95.237	−0.019%	$13.0M	$2.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	−0.0251%	1h	95.265	+0.010%	$18.6M	$35.2M	50x	as long as short
Bullet HYPE-USD	−0.0140%	1h	95.274	+0.020%	$114K	$582K	20x	as long as short
Aftermath Perps HYPEUSDshort	−0.0135%	1h	95.243	−0.013%	$22K	$17K	10x
Ondo Perps HYPE-USD.P	−0.0134%	1h	95.220	−0.037%	$690K	$1.3M	10x	as long as short
Arcus HYPE-USD	−0.0130%	1h	95.258	+0.003%	$1.1M	$2.4M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	95.191	−0.067%	$3K	$331	25x	as long as short
Gate HYPE_USDT	−0.0070%	4h	95.261	+0.006%	$54.7M	$53.1M	75x	as long as short
01 Exchange HYPEUSD	−0.0064%	1h	95.282	+0.028%	$92K	$346K	20x	as long as short

Show all 54 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International HYPE-PERP-INTX	−0.0056%	1h	95.260	+0.005%	$4.7M	$5.6M	50x	as long as short
Orderly PERP_HYPE_USDC	−0.0040%	4h	95.227	−0.029%	$148K	$643K	20x	as long as short
Aster HYPEUSDT	−0.0026%	4h	95.249	−0.006%	$9.0M	$32.9M	300x	as long as short
Lighter HYPE	−0.0024%	1h	95.257	+0.002%	$16.3M	$57.4M	20x	as long as short
OKX HYPE-USDT-SWAPlong	−0.0010%	8h	95.255	long leg	$119.3M	$303.9M	50x
dYdX HYPE-USD	0.0000%	1h	95.259	+0.004%	$129K	$94K	5x	as long as short
Perpl HYPE	0.0000%	43m	95.296	+0.043%	$24K	$254K	10x	as long as short
Deribit HYPE_USDC-PERPETUAL	0.0000%	1h	95.343	+0.092%	$7.5M	$4.3M	50x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	95.309	+0.057%	$100K	—	150x	as long as short
Phoenix HYPE	+0.0017%	1h	95.333	+0.082%	$201K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0020%	4h	95.269	+0.015%	$229.0M	$87.0M	75x	as long as short
Bybit HYPEUSDT	+0.0032%	8h	95.268	+0.014%	$321.0M	$266.5M	75x	as long as short
Popdex HYPEUSDT	+0.0040%	1h	95.275	+0.021%	$274K	$1.0M	50x	as long as short
Bulk HYPE-USD	+0.0074%	1h	95.269	+0.015%	$232K	$12K	10x	as long as short
Paradex HYPE-USD-PERP	+0.0075%	8h	95.265	+0.010%	$340K	$35K	20x	as long as short
Vest HYPE-PERP	+0.0083%	1h	95.329	+0.078%	—	$80K	5x	as long as short
edgeX HYPEUSDC	+0.0092%	4h	95.253	−0.003%	$5.1M	$29.1M	30x	as long as short
Binance HYPEUSDT	+0.0096%	4h	95.260	+0.005%	$382.8M	$857.2M	75x	as long as short
Lighter RH HYPE	+0.0096%	1h	95.267	+0.013%	$3.3M	$10.0M	20x	as long as short
MEXC HYPE_USDT	+0.0098%	4h	95.260	+0.005%	$90.7M	$83.0M	100x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	95.230	−0.026%	$39K	$1.5M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	95.265	+0.010%	$7.3M	$51.9M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	95.285	+0.031%	$10.3M	$13.3M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	95.263	+0.008%	$48.1M	$17.6M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	95.281	+0.027%	—	$48.7M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	95.300	+0.047%	$7.9M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	95.251	−0.005%	$30.0M	$53.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	95.301	+0.048%	$7.7M	$39.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	95.191	−0.067%	$347K	$883K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	95.269	+0.015%	$693K	$2.8M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	95.296	+0.043%	$504K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	95.258	+0.003%	$79K	$136K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	95.345	+0.094%	$33K	$1.4M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	95.246	−0.009%	$2.1M	$373K	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.379	+0.130%	$1.4M	$5.4M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	95.235	−0.021%	$18.4M	$39.7M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	95.248	−0.008%	$403K	$130K	20x	as long as short
Kalshi KXHYPEPERP	+0.0123%	8h	95.354	+0.104%	$1.8M	$5.1M	2.3x	as long as short
Hyperliquid HYPE	+0.0132%	1h	95.370	+0.121%	$2.11B	$650.3M	10x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	95.301	+0.048%	$3.2M	$5.5M	20x	as long as short
Reya HYPERUSDPERP	+0.0270%	1h	95.233	−0.024%	$85K	$100K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0155%	1h	95.297	+0.045%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0339%	4h	95.279	+0.025%	$17.3M	$11.5M	75x	as long as short
Injective HYPE/USDC PERP	+0.0969%	1h	95.400	+0.152%	$31K	$334K	12x	as long as short