Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:20 UTC+0.0288%/8h= +31.6% APRpaid last 24h −0.034%

Price spread now: Perpl against Aftermath Perps−0.008%7-day average — · you buy dearer than you sell

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

Long on Aftermath Perps Short on Perpl

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 airdropPerpl: 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: +$9 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aftermath Perps HYPEUSD	93.668	−0.0288	get 0.0036% / 1h	20m 55s	$22K	$22K	10x
Short	Perpl HYPE	93.661	0	get 0.0000% / 43m	7m 55s	$23K	$337K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Perpl against Aftermath 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 Aftermath PerpsbpFee PerplbpOrdersPrice spread, now −0.008%Rate

Funding earned: $60.54
Price spread: −0.008% → 0.000%: −$0.77
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Net: $36.97
Costs to cover: 0.228%
Break-even: 2.7 days

Slippage unknown: Aftermath Perps: no order-book sample; Perpl: 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 Aftermath Perps no order-book sample	—	—	—	—	—
Sell Perpl no order-book sample	—	—	—	—	—

Aftermath Perps and Perpl: 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	−0.023%	$198K	$233K	7x	as long as short
Aftermath Perps HYPEUSDlong	−0.0288%	1h	93.668	long leg	$22K	$22K	10x
Ondo Perps HYPE-USD.P	−0.0238%	1h	93.580	−0.094%	$703K	$934K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.679	+0.011%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0064%	1h	93.689	+0.022%	$90K	$343K	20x	as long as short
Derive HYPE-PERP	−0.0021%	1h	93.590	−0.083%	$16.4M	$7.0M	10x	as long as short
Bullet HYPE-USD	−0.0020%	1h	93.621	−0.051%	$112K	$583K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.721	+0.056%	$128K	$32K	5x	as long as short
Perpl HYPEshort	0.0000%	43m	93.661	−0.008%	$23K	$337K	10x
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.670	+0.001%	$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	+0.0027%	4h	93.639	−0.032%	$9.0M	$35.8M	300x	as long as short
Gate HYPE_USDT	+0.0030%	4h	93.623	−0.048%	$44.1M	$57.1M	75x	as long as short
Bybit HYPEUSDT	+0.0036%	8h	93.610	−0.062%	$326.0M	$287.1M	75x	as long as short
Orderly PERP_HYPE_USDC	+0.0062%	4h	93.619	−0.053%	$175K	$536K	20x	as long as short
Popdex HYPEUSDT	+0.0064%	1h	93.665	−0.004%	$57K	$1.2M	50x	as long as short
Phoenix HYPE	+0.0068%	1h	93.733	+0.069%	$216K	$1.2M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.665	−0.004%	$18.6M	$59.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.664	−0.005%	$3.1M	$12.4M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0100%	8h	93.682	+0.015%	$340K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.710	+0.044%	$40K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.665	−0.004%	$6.0M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.732	+0.068%	$2.04B	$670.1M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.690	+0.023%	$10.0M	$14.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.614	−0.058%	$386.2M	$889.2M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.605	−0.068%	$115.0M	$316.0M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.647	−0.023%	$1.2M	$4.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.690	+0.023%	$205K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.608	−0.064%	$93.7M	$82.3M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.625	−0.046%	$46.5M	$18.7M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.625	−0.046%	$227.4M	$102.4M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.621	−0.051%	—	$54.2M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.648	−0.022%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.652	−0.018%	$29.0M	$50.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.753	+0.090%	$7.5M	$45.3M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.664	−0.005%	$407K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.704	+0.038%	$677K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.715	+0.049%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.712	+0.047%	$495K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.644	−0.026%	$76K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.744	+0.081%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.621	−0.051%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.675	+0.007%	$12.8M	$2.6M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0102%	1h	93.730	+0.066%	$7.4M	$4.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.594	−0.080%	$18.3M	$41.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.644	−0.026%	$398K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0106%	4h	93.684	+0.017%	$5.1M	$29.7M	30x	as long as short
Kalshi KXHYPEPERP	+0.0128%	8h	93.747	+0.084%	$1.9M	$5.3M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.700	+0.034%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0245%	1h	93.619	−0.053%	$78K	$158K	15x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.600	−0.073%	$30K	$291K	12x	as long as short
HTX HYPE-USDT	+0.0306%	4h	93.825	+0.167%	$1.5M	$7.6M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0164%	1h	93.682	+0.014%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.613	−0.059%	$17.0M	$12.5M	75x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.731	+0.067%	$2.8M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0572%	1h	93.757	+0.095%	$19.2M	$26.0M	50x	as long as short