Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0237%/8h= −25.9% APRpaid last 24h −0.050%

Price spread now: Aftermath Perps against MEXC−0.082%7-day average — · you buy dearer than you sell

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

Long on MEXC Short on Aftermath Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Aftermath Perps is 0.082% cheaper against MEXC than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC HYPE_USDT	95.234	0.0100	pay 0.0050% / 4h	2h 00m	$91.0M	$88.7M	100x
Short	Aftermath Perps HYPEUSD	95.156	−0.0137	pay 0.0017% / 1h	0m 14s	$22K	$17K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps against MEXC. 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 MEXCbpFee Aftermath PerpsbpOrdersPrice spread, now −0.082%Rate

Funding earned: −$49.7
Price spread: −0.082% → 0.000%: −$8.16
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: −$70.87
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 2 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 MEXC live order book, 2 min ago	0.05 bp	2.1 bp −$2	4.7 bp −$47	10.9 bp −$1,095	41.4 bp −$20.7K
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 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	−0.1344%	1h	95.136	−0.103%	$212K	$261K	7x	as long as short
Kraken Futures PF_HYPEUSD	−0.0375%	1h	95.253	+0.020%	$18.6M	$35.3M	50x	as long as short
Bluefin HYPE-PERP	−0.0371%	1h	95.251	+0.018%	$79K	$136K	20x	as long as short
Phemex HYPEUSDT	−0.0273%	8h	95.172	−0.065%	$13.0M	$2.5M	50x	as long as short
Bullet HYPE-USD	−0.0272%	1h	95.237	+0.003%	$114K	$581K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0200%	1h	95.180	−0.057%	$690K	$1.3M	10x	as long as short
Arcus HYPE-USD	−0.0159%	1h	95.224	−0.011%	$1.1M	$2.4M	10x	as long as short
Aftermath Perps HYPEUSDshort	−0.0137%	1h	95.156	−0.082%	$22K	$17K	10x
01 Exchange HYPEUSD	−0.0128%	1h	95.257	+0.024%	$92K	$347K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	95.176	−0.061%	$3K	$331	25x	as long as short

Show all 54 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate HYPE_USDT	−0.0074%	4h	95.230	−0.004%	$54.6M	$55.0M	75x	as long as short
Orderly PERP_HYPE_USDC	−0.0039%	4h	95.204	−0.032%	$148K	$645K	20x	as long as short
Aster HYPEUSDT	−0.0025%	4h	95.234	0.000%	$9.0M	$33.1M	300x	as long as short
Coinbase International HYPE-PERP-INTX	−0.0024%	1h	95.220	−0.015%	$4.7M	$5.5M	50x	as long as short
OKX HYPE-USDT-SWAP	−0.0009%	8h	95.228	−0.006%	$119.2M	$304.7M	50x	as long as short
Lighter HYPE	−0.0008%	1h	95.221	−0.014%	$16.3M	$61.3M	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	95.259	+0.026%	$129K	$94K	5x	as long as short
Perpl HYPE	0.0000%	43m	95.257	+0.024%	$24K	$254K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	95.216	−0.019%	$100K	—	150x	as long as short
Bulk HYPE-USD	+0.0016%	1h	95.192	−0.044%	$232K	$12K	10x	as long as short
Phoenix HYPE	+0.0017%	1h	95.204	−0.032%	$201K	$1.0M	10x	as long as short
Bitget HYPEUSDT	+0.0022%	4h	95.245	+0.012%	$228.9M	$87.3M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0023%	1h	95.328	+0.099%	$7.5M	$4.3M	50x	as long as short
Bybit HYPEUSDT	+0.0033%	8h	95.230	−0.004%	$321.5M	$267.3M	75x	as long as short
Vest HYPE-PERP	+0.0036%	1h	95.272	+0.040%	—	$80K	5x	as long as short
SoDEX HYPE-USD	+0.0040%	1h	95.242	+0.008%	$2.1M	$373K	10x	as long as short
Paradex HYPE-USD-PERP	+0.0072%	8h	95.231	−0.003%	$340K	$35K	20x	as long as short
edgeX HYPEUSDC	+0.0082%	4h	95.128	−0.111%	$5.1M	$29.5M	30x	as long as short
Lighter RH HYPE	+0.0096%	1h	95.252	+0.019%	$3.3M	$10.2M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	95.238	+0.004%	$274K	$1.1M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	95.180	−0.057%	$39K	$1.5M	10x	as long as short
Binance HYPEUSDT	+0.0099%	4h	95.257	+0.025%	$382.8M	$859.3M	75x	as long as short
Nado HYPE-PERP	+0.0100%	1h	95.231	−0.004%	$7.3M	$52.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	95.325	+0.096%	$2.11B	$649.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	95.272	+0.040%	$10.3M	$13.5M	20x	as long as short
MEXC HYPE_USDTlong	+0.0100%	4h	95.234	long leg	$91.0M	$88.7M	100x
KuCoin HYPEUSDTM	+0.0100%	4h	95.223	−0.012%	$48.1M	$17.6M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	95.247	+0.014%	—	$48.8M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	95.263	+0.030%	$7.9M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	95.143	−0.096%	$30.0M	$53.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	95.108	−0.132%	$7.7M	$40.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	95.180	−0.057%	$347K	$892K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	95.126	−0.113%	$692K	$2.8M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	95.262	+0.029%	$504K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	95.328	+0.099%	$33K	$1.4M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.300	+0.069%	$1.4M	$5.5M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	95.214	−0.021%	$18.4M	$40.0M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	95.232	−0.002%	$403K	$130K	20x	as long as short
Kalshi KXHYPEPERP	+0.0120%	8h	95.316	+0.086%	$1.8M	$5.1M	2.3x	as long as short
RISEx HYPE/USDC	+0.0166%	1h	95.198	−0.038%	$3.1M	$5.5M	20x	as long as short
Reya HYPERUSDPERP	+0.0270%	1h	95.207	−0.029%	$85K	$100K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0155%	1h	95.266	+0.034%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	95.173	−0.064%	$17.3M	$11.6M	75x	as long as short
Injective HYPE/USDC PERP	+0.0850%	1h	95.400	+0.174%	$31K	$335K	12x	as long as short