Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0182%/8h= +19.9% APRpaid last 24h +0.009%

Price spread now: Aster against Ondo Perps+0.067%7-day average −0.005% · you sell dearer than you buy

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

Long on Ondo Perps Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.084%+$8 on $10k

Price spread, last 7 days+0.341%+$34 · spread now +0.067%, 7d avg −0.005%

Together, before fees+0.425%+ Points / potential airdropOndo Perps: Active · Aster: Stage 5 · farm board+$43 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Aster is 0.072% dearer against Ondo Perps than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps HYPE-USD.P	94.220	−0.0158	get 0.0020% / 1h	35m 25s	$710K	$947K	10x
Short	Aster HYPEUSDT	94.283	0.0024	get 0.0012% / 4h	3h 35m	$8.9M	$36.1M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Ondo Perps. 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 Ondo PerpsbpFee AsterbpOrdersPrice spread, now +0.067%Rate

Funding earned: $38.24
Price spread: +0.067% → −0.005%: $7.23
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Aster: 4 bp × 2 orders: −$8
Net: $32.47
Costs to cover: 0.130%
Break-even: 1.1 days

Slippage unknown: Ondo Perps: no order-book sample; Aster: live order book, 4 min ago. 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Aster live order book, 4 min ago	0.05 bp	4.1 bp −$4	4.5 bp −$45	11.5 bp −$1,153	doesn't fit

Ondo 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	−0.069%	$199K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0625%	1h	94.174	−0.049%	$1.2M	$3.8M	10x	as long as short
Phemex HYPEUSDT	−0.0277%	8h	94.233	+0.014%	$12.8M	$2.6M	50x	as long as short
Aftermath Perps HYPEUSD	−0.0263%	1h	94.150	−0.074%	$22K	$23K	10x	as long as short
dYdX HYPE-USD	−0.0185%	1h	94.245	+0.027%	$129K	$30K	5x	as long as short
Ondo Perps HYPE-USD.Plong	−0.0158%	1h	94.220	long leg	$710K	$947K	10x
Bullet HYPE-USD	−0.0094%	1h	94.242	+0.024%	$112K	$580K	20x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	94.258	+0.040%	$86K	$361K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.260	+0.042%	$3K	$331	25x	as long as short
Bybit HYPEUSDT	−0.0019%	8h	94.230	+0.011%	$323.8M	$280.8M	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	+0.040%	$166K	$604K	20x	as long as short
Perpl HYPE	0.0000%	43m	94.289	+0.073%	$23K	$327K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	94.279	+0.063%	$27K	—	150x	as long as short
Gate HYPE_USDT	+0.0016%	4h	94.249	+0.031%	$44.6M	$59.6M	75x	as long as short
Aster HYPEUSDTshort	+0.0024%	4h	94.283	+0.067%	$8.9M	$36.1M	300x
Phoenix HYPE	+0.0034%	1h	94.173	−0.050%	$219K	$1.2M	10x	as long as short
MEXC HYPE_USDT	+0.0048%	4h	94.253	+0.035%	$89.6M	$82.4M	100x	as long as short
Derive HYPE-PERP	+0.0048%	1h	94.208	−0.013%	$16.5M	$7.3M	10x	as long as short
Binance HYPEUSDT	+0.0051%	4h	94.256	+0.038%	$384.4M	$893.3M	75x	as long as short
edgeX HYPEUSDC	+0.0058%	4h	94.030	−0.201%	$5.1M	$29.8M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0081%	8h	94.249	+0.031%	$116.3M	$319.5M	50x	as long as short
Lighter HYPE	+0.0096%	1h	94.319	+0.105%	$19.1M	$58.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.291	+0.075%	$3.1M	$12.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.245	+0.027%	$63K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	94.254	+0.036%	$401K	$193K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	94.314	+0.100%	$343K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.250	+0.032%	$24K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.249	+0.031%	$6.7M	$44.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.355	+0.143%	$2.06B	$675.6M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.291	+0.075%	$10.2M	$14.6M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.267	+0.050%	$46.7M	$18.2M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	94.256	+0.038%	$228.6M	$100.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.243	+0.024%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.293	+0.077%	$7.7M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.220	0.000%	$31.8M	$54.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.045	−0.186%	$7.6M	$45.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.252	+0.034%	$341K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.245	+0.027%	$682K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.281	+0.064%	—	$271K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.266	+0.049%	$481K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	94.232	+0.013%	$76K	$171K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.319	+0.105%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.243	+0.024%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.120	−0.106%	$205K	$4K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.230	+0.011%	$19.1M	$44.2M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	94.310	+0.096%	$5.0M	$5.5M	50x	as long as short
BloFin HYPE-USDT	+0.0182%	4h	94.242	+0.023%	$17.1M	$12.3M	75x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.490	+0.287%	$31K	$338K	12x	as long as short
Kalshi KXHYPEPERP	+0.0206%	8h	94.313	+0.099%	$1.9M	$5.1M	2.3x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	94.299	+0.084%	$2.8M	$6.7M	20x	as long as short
Reya HYPERUSDPERP	+0.0251%	1h	94.242	+0.023%	$79K	$145K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0334% / S −0.0153%	1h	94.266	+0.049%	$1.5M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0355%	1h	94.337	+0.124%	$7.5M	$4.7M	50x	as long as short
HTX HYPE-USDT	+0.0445%	4h	94.442	+0.236%	$1.5M	$6.3M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0669%	1h	94.341	+0.128%	$21.1M	$29.7M	50x	as long as short