Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0388%/8h= −42.5% APRpaid last 24h +0.014%

Price spread now: Aftermath Perps against Variational Omni+0.018%52s7-day average — · you sell dearer than you buy

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

Long on Variational Omni 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—+ Points / potential airdropVariational Omni: Active · farm boardneeds 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: −$12 a day on $10k at the current rate. The two prices were read 52 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	Variational Omni HYPE	93.652	0.0100	pay 0.0100% / 8h	2h 20m	$29.0M	$50.0M	—
Short	Aftermath Perps HYPEUSD	93.668	−0.0288	pay 0.0036% / 1h	20m 38s	$22K	$22K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps against Variational Omni. 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 Variational OmnibpFee Aftermath PerpsbpOrdersPrice spread, now +0.018%Rate

Funding earned: −$81.54
Price spread: +0.018% → 0.000%: $1.77
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: −$88.77
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 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 Variational Omni RFQ quote, 4 min ago	0.44 bp	doesn't fit	2.5 bp −$25	7.9 bp −$794	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	−0.1008%	1h	93.647	−0.005%	$198K	$233K	7x	as long as short
Aftermath Perps HYPEUSDshort	−0.0288%	1h	93.668	+0.018%	$22K	$22K	10x
Ondo Perps HYPE-USD.P	−0.0232%	1h	93.550	−0.109%	$703K	$934K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.631	−0.022%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0064%	1h	93.634	−0.019%	$90K	$344K	20x	as long as short
Derive HYPE-PERP	−0.0021%	1h	93.590	−0.066%	$16.4M	$7.0M	10x	as long as short
Bullet HYPE-USD	−0.0020%	1h	93.621	−0.033%	$112K	$583K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.721	+0.074%	$128K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.661	+0.010%	$23K	$337K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.670	+0.019%	$20K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0026%	4h	93.620	−0.034%	$9.0M	$35.8M	300x	as long as short
Gate HYPE_USDT	+0.0032%	4h	93.614	−0.040%	$44.1M	$57.1M	75x	as long as short
Bybit HYPEUSDT	+0.0036%	8h	93.610	−0.045%	$326.0M	$287.1M	75x	as long as short
Popdex HYPEUSDT	+0.0056%	1h	93.604	−0.051%	$59K	$1.2M	50x	as long as short
Orderly PERP_HYPE_USDC	+0.0062%	4h	93.619	−0.035%	$175K	$536K	20x	as long as short
Phoenix HYPE	+0.0068%	1h	93.733	+0.087%	$216K	$1.2M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.657	+0.006%	$18.6M	$59.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.648	−0.004%	$3.1M	$12.4M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0100%	8h	93.631	−0.022%	$340K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.640	−0.013%	$37K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.665	+0.014%	$6.0M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.730	+0.084%	$2.04B	$670.1M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.661	+0.010%	$10.0M	$14.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.599	−0.056%	$386.2M	$888.9M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.605	−0.050%	$115.0M	$316.0M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.591	−0.065%	$1.2M	$4.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.690	+0.040%	$205K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.620	−0.034%	$93.7M	$82.3M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.639	−0.014%	$46.5M	$18.7M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.628	−0.025%	$227.4M	$102.3M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.621	−0.033%	—	$54.3M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.648	−0.004%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPElong	+0.0100%	8h	93.652	long leg	$29.0M	$50.0M	—
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.753	+0.108%	$7.5M	$45.3M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.664	+0.013%	$407K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.704	+0.056%	$677K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.715	+0.067%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.712	+0.064%	$495K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.644	−0.008%	$76K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.744	+0.099%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.621	−0.033%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.675	+0.025%	$12.8M	$2.6M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0102%	1h	93.730	+0.084%	$7.4M	$4.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.594	−0.062%	$18.3M	$41.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.644	−0.008%	$398K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0106%	4h	93.684	+0.034%	$5.1M	$29.7M	30x	as long as short
Kalshi KXHYPEPERP	+0.0128%	8h	93.747	+0.102%	$1.9M	$5.3M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.700	+0.052%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0245%	1h	93.619	−0.035%	$78K	$158K	15x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.600	−0.055%	$30K	$291K	12x	as long as short
HTX HYPE-USDT	+0.0306%	4h	93.825	+0.185%	$1.5M	$7.6M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0164%	1h	93.682	+0.032%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.613	−0.041%	$17.0M	$12.5M	75x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.671	+0.020%	$2.7M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0572%	1h	93.757	+0.112%	$19.2M	$26.0M	50x	as long as short