Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0105%/8h= −11.5% APRpaid last 24h −0.018%

Price spread now: Aster against Pacifica+0.001%7-day average −0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$180.176% of the position

Long on Pacifica Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.047%+$5 on $10k

Price spread, last 7 days−0.007%−$1 · spread now +0.001%, 7d avg −0.009%

Together, before fees+0.040%+ Points / potential airdropPacifica: Active · Aster: Stage 5 · farm board+$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.009%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica HYPE	92.375	0.0100	pay 0.0013% / 1h	49m 46s	$10.0M	$15.0M	20x
Short	Aster HYPEUSDT	92.376	−0.0005	pay 0.0003% / 4h	49m 46s	$8.7M	$36.2M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Pacifica. 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 PacificabpFee AsterbpOrdersPrice spread, now +0.001%Rate

Funding earned: −$22.07
Price spread: +0.001% → −0.009%: $0.96
Slippage, 4 orders: −$1.59
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Aster: 4 bp × 2 orders: −$8
Net: −$38.69
Costs to cover: 0.176%
Break-even: never at this rate

Slippage from Pacifica: live order book, 4 min ago; Aster: 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 Pacifica live order book, 4 min ago	0.22 bp	4.4 bp −$4	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 4 min ago	0.27 bp	4.3 bp −$4	5.3 bp −$53	15.7 bp −$1,572	doesn't fit

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
Arcus HYPE-USD	−0.0948%	1h	92.216	−0.172%	$1.2M	$3.8M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0728%	1h	92.519	+0.155%	$194K	$227K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0112%	1h	92.647	+0.294%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0104%	1h	92.387	+0.013%	$85K	$352K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.501	+0.136%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0067%	4h	92.385	+0.011%	$157K	$663K	20x	as long as short
Bullet HYPE-USD	−0.0053%	1h	92.394	+0.021%	$110K	$579K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0046%	1h	92.280	−0.103%	$699K	$1.1M	10x	as long as short
Aster HYPEUSDTshort	−0.0005%	4h	92.376	+0.001%	$8.7M	$36.2M	300x
dYdX HYPE-USD	0.0000%	1h	92.417	+0.046%	$127K	$31K	5x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	92.413	+0.041%	$23K	$309K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.436	+0.066%	$61K	—	150x	as long as short
Derive HYPE-PERP	+0.0020%	1h	92.367	−0.008%	$16.0M	$7.5M	10x	as long as short
BingX HYPE-USDT	+0.0032%	4h	92.317	−0.063%	—	$53.2M	—	as long as short
Phemex HYPEUSDT	+0.0038%	8h	92.433	+0.063%	$12.5M	$2.7M	50x	as long as short
Bybit HYPEUSDT	+0.0038%	8h	92.342	−0.036%	$316.8M	$279.4M	75x	as long as short
Phoenix HYPE	+0.0043%	1h	92.855	+0.520%	$211K	$1.2M	10x	as long as short
Gate HYPE_USDT	+0.0050%	4h	92.343	−0.035%	$44.3M	$54.5M	75x	as long as short
Popdex HYPEUSDT	+0.0072%	1h	92.395	+0.022%	$67K	$1.2M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0075%	8h	92.344	−0.034%	$112.9M	$300.3M	50x	as long as short
MEXC HYPE_USDT	+0.0078%	4h	92.334	−0.044%	$87.4M	$80.2M	100x	as long as short
Binance HYPEUSDT	+0.0079%	4h	92.338	−0.040%	$371.2M	$893.4M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0092%	8h	92.363	−0.013%	$337K	$162K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.355	−0.022%	$16.0M	$62.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.362	−0.014%	$3.1M	$11.6M	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	92.370	−0.005%	$13K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.400	+0.027%	$5.8M	$43.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.391	+0.017%	$2.01B	$660.5M	10x	as long as short
Pacifica HYPElong	+0.0100%	1h	92.375	long leg	$10.0M	$15.0M	20x
Bulk HYPE-USD	+0.0100%	1h	92.800	+0.460%	$202K	$13K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.332	−0.047%	$45.7M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.321	−0.058%	$223.4M	$97.7M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.370	−0.005%	$7.4M	$10.0M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.469	+0.102%	$28.5M	$57.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.799	+0.459%	$7.5M	$45.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.847	+0.511%	$339K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.569	+0.210%	$664K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.481	+0.114%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.438	+0.068%	$467K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.463	+0.095%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.406	+0.034%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.600	+0.244%	$1.4M	$6.2M	75x	as long as short
edgeX HYPEUSDC	+0.0103%	4h	92.776	+0.434%	$5.1M	$29.2M	30x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.330	−0.048%	$18.1M	$43.4M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.434	+0.064%	$391K	$164K	20x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	92.430	+0.060%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.480	+0.114%	$4.7M	$5.5M	50x	as long as short
Reya HYPERUSDPERP	+0.0260%	1h	92.391	+0.018%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0262%	8h	92.513	+0.149%	$1.8M	$5.4M	2.3x	as long as short
BloFin HYPE-USDT	+0.0317%	4h	92.544	+0.183%	$16.8M	$11.5M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0329% / S −0.0153%	1h	92.424	+0.053%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0333%	1h	92.439	+0.069%	$20.5M	$30.4M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0464%	1h	92.500	+0.135%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.479	+0.113%	$3.1M	$6.4M	20x	as long as short
Bluefin HYPE-PERP	+0.1078%	1h	92.386	+0.012%	$78K	$169K	20x	as long as short