Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0099%/8h= −10.8% APRpaid last 24h −0.004%

Price spread now: Aster against Vest+0.030%7-day average −0.008% · you sell dearer than you buy

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

Long on Vest Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.110%+$11 on $10k

Price spread, last 3 days (all we have)−0.231%−$23 · spread now +0.030%, 7d avg −0.008%

Together, before fees−0.121%+ Points / potential airdropVest: Active · Aster: Stage 5 · farm board−$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aster is 0.038% dearer against Vest than usual: you sell high and buy low (spread +0.030% now, against its 7-day average of −0.008%): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 31 hours. Mind the row above: over the last 3 days funding on this pair paid +0.110%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest HYPE-PERP	93.284	0.0100	pay 0.0013% / 1h	14m 22s	—	$454K	5x
Short	Aster HYPEUSDT	93.312	0.0001	get 0.0001% / 4h	1h 14m	$8.9M	$35.8M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Vest. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 VestbpFee AsterbpOrdersPrice spread, now +0.030%Rate

Funding earned: −$20.79
Price spread: +0.030% → −0.008%: $3.79
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Aster: 4 bp × 2 orders: −$8
Net: −$27
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Vest: no order-book sample; Aster: live order book, 5 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 Vest no order-book sample	—	—	—	—	—
Sell Aster live order book, 5 min ago	0.32 bp	4.3 bp −$4	4.8 bp −$48	11.7 bp −$1,165	doesn't fit

Vest: 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
Aftermath Perps HYPEUSD	−0.0441%	1h	93.211	−0.078%	$22K	$22K	10x	as long as short
Hibachi HYPE/USDT-P	−0.0352%	1h	93.222	−0.066%	$197K	$230K	7x	as long as short
Arcus HYPE-USD	−0.0131%	1h	93.205	−0.085%	$1.2M	$4.0M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0123%	1h	93.210	−0.080%	$699K	$932K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.272	−0.013%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0032%	1h	93.292	+0.008%	$90K	$361K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.278	−0.007%	$127K	$32K	5x	as long as short
Popdex HYPEUSDT	0.0000%	1h	93.260	−0.026%	$58K	$1.2M	50x	as long as short
Perpl HYPE	0.0000%	43m	93.251	−0.035%	$23K	$330K	10x	as long as short
Aster HYPEUSDTshort	+0.0001%	4h	93.312	+0.030%	$8.9M	$35.8M	300x

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.336	+0.056%	$27K	—	150x	as long as short
Orderly PERP_HYPE_USDC	+0.0020%	4h	93.329	+0.048%	$172K	$517K	20x	as long as short
Bybit HYPEUSDT	+0.0023%	8h	93.306	+0.023%	$323.2M	$285.5M	75x	as long as short
Phoenix HYPE	+0.0034%	1h	93.249	−0.038%	$214K	$1.2M	10x	as long as short
Bullet HYPE-USD	+0.0035%	1h	93.304	+0.021%	$112K	$578K	20x	as long as short
Derive HYPE-PERP	+0.0047%	1h	93.269	−0.016%	$16.3M	$7.0M	10x	as long as short
Gate HYPE_USDT	+0.0064%	4h	93.315	+0.033%	$44.0M	$58.6M	75x	as long as short
MEXC HYPE_USDT	+0.0064%	4h	93.275	−0.010%	$90.2M	$82.3M	100x	as long as short
Binance HYPEUSDT	+0.0065%	4h	93.320	+0.038%	$382.0M	$893.4M	75x	as long as short
edgeX HYPEUSDC	+0.0085%	4h	93.171	−0.121%	$5.1M	$29.7M	30x	as long as short
Lighter HYPE	+0.0096%	1h	93.323	+0.041%	$18.6M	$59.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.317	+0.035%	$3.1M	$12.2M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.331	+0.050%	$397K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.282	−0.003%	$339K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.240	−0.047%	$35K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.255	−0.031%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.294	+0.010%	$2.03B	$669.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.293	+0.009%	$10.0M	$14.4M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.315	+0.033%	$114.2M	$313.9M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.232	−0.056%	$204K	$8K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.279	−0.006%	$47.0M	$18.7M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.377	+0.099%	$226.5M	$103.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.295	+0.011%	—	$53.8M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.265	−0.021%	$7.8M	$10.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.203	−0.087%	$29.0M	$50.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.199	−0.091%	$7.5M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.153	−0.141%	$414K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.206	−0.084%	$674K	$2.5M	20x	as long as short
Vest HYPE-PERPlong	+0.0100%	1h	93.284	long leg	—	$454K	5x
Polymarket Perps HYPE-USD	+0.0100%	1h	93.293	+0.009%	$493K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.336	+0.055%	$76K	$167K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.353	+0.074%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.354	+0.075%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.215	−0.074%	$12.7M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.236	−0.051%	$18.2M	$41.8M	50x	as long as short
Kalshi KXHYPEPERP	+0.0117%	8h	93.294	+0.010%	$1.9M	$5.3M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.310	+0.028%	$4.9M	$5.7M	50x	as long as short
HTX HYPE-USDT	+0.0232%	4h	93.405	+0.129%	$1.5M	$7.7M	75x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	93.140	−0.155%	$30K	$338K	12x	as long as short
Reya HYPERUSDPERP	+0.0247%	1h	93.257	−0.029%	$77K	$159K	15x	as long as short
BloFin HYPE-USDT	+0.0260%	4h	93.211	−0.079%	$16.8M	$12.4M	75x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.325	+0.044%	$2.7M	$6.8M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0165%	1h	93.313	+0.031%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0435%	1h	93.459	+0.187%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0465%	1h	93.364	+0.086%	$20.9M	$29.0M	50x	as long as short