Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.001%

Price spread now: SunX against Aevo+0.090%7-day average +0.056% · you sell dearer than you buy

Net, funding: paid 7d − costs−$259as in the Funding arb table

Net, price: spread back to 7d avg − costs−$255as in the Price arb table

costs, in and out, $10k−$2582.580% of the position

Long on Aevo Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.006%−$1 on $10k

Price spread, last 4 days (all we have)−0.062%−$6 · spread now +0.090%, 7d avg +0.056%

Together, before fees−0.068%−$7 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: SunX is 0.034% dearer against Aevo than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.056%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo HYPE-PERP	95.138	0.0104	pay 0.0013% / 1h	52m 35s	$402K	$130K	20x
Short	SunX HYPE-USDT	95.223	0.0100	get 0.0050% / 4h	1h 52m	$32K	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Aevo. 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 AevobpFee SunXbpOrdersPrice spread, now +0.090%Rate

Funding earned: −$0.84
Price spread: +0.090% → +0.056%: $3.38
Slippage, 4 orders: −$233.98
Fee Aevo: 8 bp × 2 orders: −$16
Fee SunX: 4 bp × 2 orders: −$8
Net: −$255.44
Costs to cover: 2.580%
Break-even: never at this rate

Slippage from Aevo: live order book, 59 min ago; SunX: live order book, 5 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 Aevo live order book, 59 min ago	78.06 bp	110.0 bp −$110	119.9 bp −$1,199	doesn't fit	doesn't fit
Sell SunX live order book, 5 min ago	19.05 bp	32.9 bp −$33	doesn't fit	doesn't fit	doesn't fit

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	−0.1208%	1h	95.237	+0.105%	$213K	$261K	7x	as long as short
Phemex HYPEUSDT	−0.0277%	8h	95.208	+0.074%	$13.0M	$2.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	−0.0251%	1h	95.169	+0.033%	$18.5M	$35.2M	50x	as long as short
Ondo Perps HYPE-USD.P	−0.0185%	1h	95.040	−0.103%	$690K	$1.3M	10x	as long as short
Arcus HYPE-USD	−0.0130%	1h	95.124	−0.014%	$1.1M	$2.4M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0130%	1h	95.248	+0.115%	$22K	$17K	10x	as long as short
Bullet HYPE-USD	−0.0127%	1h	95.157	+0.020%	$114K	$581K	20x	as long as short
Lighter HYPE	−0.0104%	1h	95.106	−0.034%	$16.3M	$57.5M	20x	as long as short
01 Exchange HYPEUSD	−0.0104%	1h	95.140	+0.002%	$92K	$337K	20x	as long as short
Gate HYPE_USDT	−0.0082%	4h	95.130	−0.008%	$54.7M	$53.1M	75x	as long as short

Show all 54 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hotstuff HYPE-PERP	−0.0080%	1h	95.191	+0.056%	$3K	$331	25x	as long as short
Coinbase International HYPE-PERP-INTX	−0.0056%	1h	95.190	+0.055%	$4.7M	$5.6M	50x	as long as short
Orderly PERP_HYPE_USDC	−0.0042%	4h	95.124	−0.014%	$148K	$643K	20x	as long as short
Aster HYPEUSDT	−0.0036%	4h	95.124	−0.015%	$9.0M	$32.9M	300x	as long as short
OKX HYPE-USDT-SWAP	−0.0012%	8h	95.132	−0.006%	$119.1M	$302.9M	50x	as long as short
Phoenix HYPE	−0.0008%	1h	95.326	+0.198%	$201K	$1.1M	10x	as long as short
Popdex HYPEUSDT	−0.0008%	1h	95.143	+0.006%	$274K	$1.0M	50x	as long as short
dYdX HYPE-USD	0.0000%	1h	95.169	+0.033%	$129K	$94K	5x	as long as short
Perpl HYPE	0.0000%	43m	95.139	+0.002%	$24K	$251K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	95.192	+0.057%	$100K	—	150x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0002%	1h	95.244	+0.112%	$7.5M	$4.3M	50x	as long as short
SoDEX HYPE-USD	+0.0010%	1h	95.152	+0.015%	$2.1M	$373K	10x	as long as short
Bitget HYPEUSDT	+0.0018%	4h	95.130	−0.008%	$228.6M	$86.9M	75x	as long as short
Bybit HYPEUSDT	+0.0028%	8h	95.130	−0.008%	$320.4M	$266.0M	75x	as long as short
Bulk HYPE-USD	+0.0074%	1h	95.269	+0.138%	$232K	$12K	10x	as long as short
Paradex HYPE-USD-PERP	+0.0075%	8h	95.119	−0.019%	$339K	$35K	20x	as long as short
Bluefin HYPE-PERP	+0.0081%	1h	95.164	+0.028%	$79K	$136K	20x	as long as short
Binance HYPEUSDT	+0.0086%	4h	95.107	−0.032%	$382.4M	$852.9M	75x	as long as short
MEXC HYPE_USDT	+0.0092%	4h	95.124	−0.014%	$90.2M	$83.1M	100x	as long as short
edgeX HYPEUSDC	+0.0092%	4h	95.253	+0.121%	$5.1M	$29.1M	30x	as long as short
Lighter RH HYPE	+0.0096%	1h	95.121	−0.017%	$3.3M	$10.0M	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	95.120	−0.019%	$39K	$1.5M	10x	as long as short
Vest HYPE-PERP	+0.0100%	1h	95.222	+0.089%	—	$80K	5x	as long as short
Nado HYPE-PERP	+0.0100%	1h	95.154	+0.018%	$7.4M	$51.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	95.217	+0.083%	$2.11B	$645.7M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	95.168	+0.032%	$10.3M	$13.3M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	95.107	−0.032%	$48.1M	$17.6M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	95.137	−0.001%	—	$49.2M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	95.201	+0.067%	$7.9M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	95.251	+0.119%	$30.0M	$53.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	95.290	+0.160%	$7.7M	$39.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	95.279	+0.149%	$347K	$882K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	95.216	+0.082%	$693K	$2.8M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	95.182	+0.047%	$504K	$2.5M	20x	as long as short
SunX HYPE-USDTshort	+0.0100%	4h	95.223	+0.090%	$32K	$1.4M	20x
HTX HYPE-USDT	+0.0100%	4h	95.292	+0.162%	$1.4M	$5.4M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	95.097	−0.043%	$18.4M	$39.7M	50x	as long as short
Aevo HYPE-PERPlong	+0.0104%	1h	95.138	long leg	$402K	$130K	20x
Kalshi KXHYPEPERP	+0.0125%	8h	95.256	+0.124%	$1.8M	$5.1M	2.3x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	95.181	+0.046%	$3.2M	$5.5M	20x	as long as short
Reya HYPERUSDPERP	+0.0270%	1h	95.118	−0.021%	$85K	$96K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0155%	1h	95.187	+0.052%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0336%	4h	95.165	+0.029%	$17.3M	$11.5M	75x	as long as short
Injective HYPE/USDC PERP	+0.0969%	1h	95.500	+0.381%	$31K	$334K	12x	as long as short