Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0170%/8h= −18.6% APRpaid last 24h −0.052%

Price spread now: Aftermath Perps against Paradex+0.006%7-day average — · you sell dearer than you buy

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

Long on Paradex 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—+ Points / potential airdropParadex: 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: −$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex HYPE-USD-PERP	94.140	0.0030	pay 0.0030% / 8h	20m 47s	$336K	$154K	20x
Short	Aftermath Perps HYPEUSD	94.146	−0.0140	pay 0.0018% / 1h	20m 47s	$22K	$20K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps against Paradex. 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 ParadexbpFee Aftermath PerpsbpOrdersPrice spread, now +0.006%Rate

Funding earned: −$35.7
Price spread: +0.006% → 0.000%: $0.6
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: −$48.1
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Paradex: live order book, 18 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 Paradex live order book, 18 min ago	14.72 bp	16.7 bp −$17	154.5 bp −$1,545	doesn't fit	doesn't fit
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 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	−0.1720%	1h	94.026	−0.121%	$201K	$255K	7x	as long as short
Bluefin HYPE-PERP	−0.0415%	1h	94.057	−0.088%	$79K	$152K	20x	as long as short
Bullet HYPE-USD	−0.0237%	1h	94.031	−0.116%	$111K	$577K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0226%	1h	93.910	−0.244%	$710K	$1.2M	10x	as long as short
Aftermath Perps HYPEUSDshort	−0.0140%	1h	94.146	+0.006%	$22K	$20K	10x
01 Exchange HYPEUSD	−0.0120%	1h	94.067	−0.078%	$87K	$368K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.016	−0.132%	$3K	$331	25x	as long as short
Derive HYPE-PERP	−0.0080%	1h	93.964	−0.187%	$16.4M	$7.5M	10x	as long as short
Lighter HYPE	−0.0048%	1h	94.103	−0.039%	$16.3M	$64.5M	20x	as long as short
Arcus HYPE-USD	−0.0045%	1h	94.032	−0.115%	$1.0M	$3.6M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX HYPE-USDT	−0.0020%	4h	94.100	−0.043%	—	$52.9M	—	as long as short
Bybit HYPEUSDT	−0.0019%	8h	94.110	−0.032%	$316.3M	$289.2M	75x	as long as short
Orderly PERP_HYPE_USDC	−0.0010%	4h	94.067	−0.078%	$146K	$684K	20x	as long as short
Polymarket Perps HYPE-USD	−0.0008%	1h	94.114	−0.028%	$496K	$2.8M	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.061	−0.084%	$129K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.151	+0.012%	$1.8M	$5.6M	2.3x	as long as short
Phoenix HYPE	0.0000%	1h	94.232	+0.098%	$209K	$1.1M	10x	as long as short
Perpl HYPE	0.0000%	43m	94.072	−0.072%	$19K	$288K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.128	−0.012%	$124K	—	150x	as long as short
Paradex HYPE-USD-PERPlong	+0.0030%	8h	94.140	long leg	$336K	$154K	20x
Bitget HYPEUSDT	+0.0030%	4h	94.087	−0.056%	$226.0M	$100.1M	75x	as long as short
SoDEX HYPE-USD	+0.0034%	1h	94.062	−0.083%	$2.0M	$1.9M	10x	as long as short
Vest HYPE-PERP	+0.0038%	1h	94.131	−0.009%	—	$190K	5x	as long as short
Phemex HYPEUSDT	+0.0050%	8h	94.077	−0.067%	$12.8M	$2.9M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0064%	1h	94.010	−0.138%	$4.7M	$6.2M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0065%	8h	94.117	−0.024%	$117.4M	$323.6M	50x	as long as short
Gate HYPE_USDT	+0.0092%	4h	94.090	−0.053%	$50.0M	$56.8M	75x	as long as short
edgeX HYPEUSDC	+0.0095%	4h	93.993	−0.156%	$5.0M	$30.7M	30x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.103	−0.039%	$3.2M	$10.8M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.044	−0.102%	$81K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.030	−0.117%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.053	−0.092%	$7.2M	$53.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.197	+0.060%	$2.07B	$687.6M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.105	−0.037%	$8.8M	$37.2M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.153	+0.014%	$10.1M	$15.1M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.109	−0.033%	$376.9M	$933.6M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.240	+0.106%	$218K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.105	−0.037%	$88.3M	$83.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.090	−0.053%	$46.7M	$18.8M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.064	−0.081%	$7.5M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.079	−0.065%	$29.4M	$54.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.122	−0.019%	$7.6M	$45.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.028	−0.119%	$369K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.060	−0.085%	$680K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.101	−0.041%	$32K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.238	+0.104%	$1.4M	$6.8M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.075	−0.070%	$18.3M	$43.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.085	−0.059%	$398K	$154K	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0150% / S +0.0022%	1h	94.153	+0.014%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0185%	1h	94.740	+0.637%	$31K	$340K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0196%	1h	94.179	+0.041%	$7.4M	$4.3M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0223%	1h	94.124	−0.017%	$20.2M	$30.2M	50x	as long as short
RISEx HYPE/USDC	+0.0249%	1h	94.086	−0.057%	$3.2M	$6.4M	20x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.073	−0.071%	$84K	$123K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.094	−0.049%	$17.1M	$12.3M	75x	as long as short