Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0101%/8h= +11.1% APRpaid last 24h +0.017%

Price spread now: StandX against Aster+0.193%7-day average +0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$4as in the Price arb table

costs, in and out, $10k−$230.225% of the position

Long on Aster Short on StandX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.048%+$5 on $10k

Price spread, last 7 days−0.212%−$21 · spread now +0.193%, 7d avg +0.009%

Together, before fees−0.164%+ Points / potential airdropAster: Stage 5 · StandX: Active · farm board−$16 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and StandX is 0.184% dearer against Aster than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of +0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster HYPEUSDT	93.707	−0.0001	get 0.0001% / 4h	2h 20m	$8.8M	$35.8M	300x
Short	StandX HYPE-USD	93.887	0.0100	get 0.0013% / 1h	20m 01s	$670K	$2.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

StandX against Aster. 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 AsterbpFee StandXbpOrdersPrice spread, now +0.193%Rate

Funding earned: $21.26
Price spread: +0.193% → +0.009%: $18.39
Slippage, 4 orders: −$6.51
Fee Aster: 4 bp × 2 orders: −$8
Fee StandX: 4 bp × 2 orders: −$8
Net: $17.14
Costs to cover: 0.225%
Break-even: 1.4 days

Slippage from Aster: live order book, 4 min ago; StandX: live order book, 4 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 Aster live order book, 4 min ago	0.48 bp	4.9 bp −$5	5.7 bp −$57	12.5 bp −$1,246	doesn't fit
Sell StandX live order book, 4 min ago	1.28 bp	7.8 bp −$8	7.9 bp −$79	13.8 bp −$1,382	doesn't fit

HYPE on 54 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	−0.1032%	1h	93.783	+0.081%	$197K	$229K	7x	as long as short
Arcus HYPE-USD	−0.0786%	1h	93.609	−0.104%	$1.2M	$3.8M	10x	as long as short
Phemex HYPEUSDT	−0.0118%	8h	93.762	+0.059%	$12.7M	$2.7M	50x	as long as short
Aftermath Perps HYPEUSD	−0.0103%	1h	93.815	+0.115%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.815	+0.116%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0079%	1h	93.850	+0.153%	$702K	$923K	10x	as long as short
Orderly PERP_HYPE_USDC	−0.0056%	4h	93.691	−0.017%	$156K	$646K	20x	as long as short
01 Exchange HYPEUSD	−0.0048%	1h	93.724	+0.019%	$85K	$350K	20x	as long as short
Backpack HYPE_USDC_PERP	−0.0036%	1h	93.701	−0.006%	$7.8M	$10.3M	20x	as long as short
Gate HYPE_USDT	−0.0028%	4h	93.717	+0.011%	$44.4M	$55.1M	75x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDTlong	−0.0001%	4h	93.707	long leg	$8.8M	$35.8M	300x
dYdX HYPE-USD	0.0000%	1h	93.756	+0.053%	$129K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.755	+0.051%	$22K	$326K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.746	+0.042%	$26K	—	150x	as long as short
Bybit HYPEUSDT	+0.0003%	8h	93.770	+0.068%	$322.0M	$280.8M	75x	as long as short
BingX HYPE-USDT	+0.0004%	4h	93.737	+0.033%	—	$53.6M	—	as long as short
Phoenix HYPE	+0.0060%	1h	93.885	+0.190%	$213K	$1.2M	10x	as long as short
Bullet HYPE-USD	+0.0064%	1h	93.716	+0.010%	$112K	$577K	20x	as long as short
Binance HYPEUSDT	+0.0067%	4h	93.787	+0.086%	$381.3M	$890.7M	75x	as long as short
MEXC HYPE_USDT	+0.0068%	4h	93.778	+0.076%	$89.2M	$83.2M	100x	as long as short
OKX HYPE-USDT-SWAP	+0.0068%	8h	93.773	+0.071%	$115.3M	$307.8M	50x	as long as short
edgeX HYPEUSDC	+0.0088%	4h	93.822	+0.123%	$5.1M	$29.9M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0096%	8h	93.766	+0.063%	$341K	$164K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.728	+0.023%	$16.4M	$62.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.727	+0.022%	$3.1M	$11.9M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.713	+0.007%	$67K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.714	+0.008%	$399K	$175K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.750	+0.046%	$21K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.727	+0.021%	$5.8M	$44.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.812	+0.113%	$2.05B	$665.7M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.757	+0.054%	$10.1M	$14.7M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.795	+0.094%	$46.4M	$18.0M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.786	+0.085%	$227.2M	$98.4M	75x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.748	+0.044%	$31.1M	$54.6M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.837	+0.139%	$7.6M	$47.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.823	+0.124%	$339K	$1.0M	50x	as long as short
StandX HYPE-USDshort	+0.0100%	1h	93.887	+0.193%	$670K	$2.6M	20x
Vest HYPE-PERP	+0.0100%	1h	93.787	+0.086%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.750	+0.046%	$473K	$2.4M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.673	−0.036%	$79K	$171K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.699	−0.008%	$16.3M	$7.7M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.796	+0.096%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.701	−0.006%	$2.0M	$1.9M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.880	+0.185%	$204K	$10K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.761	+0.059%	$18.3M	$44.2M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0136%	1h	93.830	+0.132%	$4.9M	$5.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0137%	1h	93.740	+0.036%	$30K	$339K	12x	as long as short
HTX HYPE-USDT	+0.0198%	4h	93.873	+0.178%	$1.4M	$5.9M	75x	as long as short
RISEx HYPE/USDC	+0.0210%	1h	93.801	+0.101%	$3.2M	$7.0M	20x	as long as short
Reya HYPERUSDPERP	+0.0255%	1h	93.709	+0.003%	$80K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0278%	8h	93.786	+0.085%	$1.9M	$4.9M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0156%	1h	93.737	+0.033%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0390%	1h	93.806	+0.106%	$7.4M	$4.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0680%	1h	93.795	+0.094%	$20.9M	$29.8M	50x	as long as short