Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.018%

Price spread now: Aster against SunX−0.089%7-day average −0.069% · you buy dearer than you sell

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$680.676% of the position

Long on SunX Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.039%−$4 on $10k

Price spread, last 4 days (all we have)+0.043%+$4 · spread now −0.089%, 7d avg −0.069%

Together, before fees+0.004%+ Points / potential airdropAster: Stage 5 · farm board$0 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aster is 0.020% cheaper against SunX than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.069%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX HYPE-USDT	94.905	0.0100	pay 0.0050% / 4h	3h 52m	$33K	$1.6M	20x
Short	Aster HYPEUSDT	94.821	0.0100	get 0.0050% / 4h	3h 52m	$9.6M	$37.4M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against SunX. 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 SunXbpFee AsterbpOrdersPrice spread, now −0.089%Rate

Funding earned: $0
Price spread: −0.089% → −0.069%: −$2
Slippage, 4 orders: −$51.65
Fee SunX: 4 bp × 2 orders: −$8
Fee Aster: 4 bp × 2 orders: −$8
Net: −$69.65
Costs to cover: 0.676%
Break-even: never at this rate

Slippage from SunX: live order book, 3 min ago; Aster: live order book, 2 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 SunX live order book, 3 min ago	18.73 bp	23.5 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 2 min ago	0.90 bp	4.9 bp −$5	7.0 bp −$70	20.5 bp −$2,055	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	−0.1432%	1h	94.783	−0.129%	$208K	$267K	7x	as long as short
Phemex HYPEUSDT	−0.0429%	8h	94.781	−0.131%	$12.9M	$2.9M	50x	as long as short
Bluefin HYPE-PERP	−0.0323%	1h	94.789	−0.122%	$80K	$150K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0320%	1h	94.714	−0.202%	$22K	$20K	10x	as long as short
Bullet HYPE-USD	−0.0149%	1h	94.818	−0.092%	$112K	$576K	20x	as long as short
Arcus HYPE-USD	−0.0112%	1h	94.825	−0.084%	$1.0M	$3.5M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.756	−0.157%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0074%	1h	94.810	−0.100%	$714K	$1.2M	10x	as long as short
01 Exchange HYPEUSD	−0.0072%	1h	94.869	−0.038%	$88K	$364K	20x	as long as short
Kraken Futures PF_HYPEUSD	−0.0047%	1h	94.847	−0.061%	$20.3M	$30.3M	50x	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	−0.0007%	4h	94.791	−0.120%	$147K	$685K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.808	−0.103%	$130K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.899	−0.006%	$1.9M	$5.5M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.846	−0.062%	$19K	$285K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.763	−0.150%	$124K	—	150x	as long as short
Phoenix HYPE	+0.0008%	1h	94.810	−0.100%	$208K	$1.2M	10x	as long as short
Bitget HYPEUSDT	+0.0012%	4h	94.792	−0.119%	$227.3M	$99.6M	75x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0016%	1h	94.880	−0.026%	$4.7M	$6.2M	50x	as long as short
Derive HYPE-PERP	+0.0022%	1h	94.691	−0.225%	$16.4M	$7.4M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0051%	8h	94.873	−0.034%	$339K	$154K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0064%	8h	94.779	−0.133%	$118.2M	$327.5M	50x	as long as short
Bybit HYPEUSDT	+0.0067%	8h	94.820	−0.090%	$317.9M	$288.9M	75x	as long as short
Vest HYPE-PERP	+0.0069%	1h	94.911	+0.007%	—	$190K	5x	as long as short
Lighter HYPE	+0.0080%	1h	94.818	−0.092%	$16.3M	$61.8M	20x	as long as short
edgeX HYPEUSDC	+0.0083%	4h	94.539	−0.386%	$5.0M	$30.7M	30x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.821	−0.089%	$3.2M	$10.2M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.853	−0.055%	$144K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.840	−0.068%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.840	−0.068%	$7.3M	$52.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.928	+0.024%	$2.09B	$688.4M	10x	as long as short
Aster HYPEUSDTshort	+0.0100%	4h	94.821	−0.089%	$9.6M	$37.4M	300x
Pacifica HYPE	+0.0100%	1h	94.869	−0.038%	$10.2M	$14.8M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.825	−0.085%	$380.8M	$934.2M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.685	−0.232%	$219K	$12K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.823	−0.086%	$51.0M	$53.7M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.827	−0.082%	$93.8M	$84.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.825	−0.084%	$47.0M	$18.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.828	−0.081%	—	$53.4M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.821	−0.089%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.549	−0.375%	$29.9M	$55.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.656	−0.263%	$7.6M	$44.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.534	−0.391%	$351K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.821	−0.089%	$694K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.922	+0.018%	$501K	$2.8M	20x	as long as short
SunX HYPE-USDTlong	+0.0100%	4h	94.905	long leg	$33K	$1.6M	20x
SoDEX HYPE-USD	+0.0100%	1h	94.807	−0.103%	$2.1M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.972	+0.071%	$1.4M	$6.9M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.778	−0.134%	$18.4M	$43.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.830	−0.079%	$401K	$153K	20x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	94.889	−0.016%	$3.2M	$6.4M	20x	as long as short
Injective HYPE/USDC PERP	+0.0153%	1h	94.950	+0.047%	$31K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.803	−0.107%	$83K	$118K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0277%	1h	94.894	−0.012%	$7.5M	$4.3M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0327% / S −0.0152%	1h	94.868	−0.039%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.800	−0.111%	$17.2M	$12.5M	75x	as long as short