Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h 0.000%

Price spread now: Aevo against Variational Omni+0.004%7-day average +0.028% · you sell dearer than you buy

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

Long on Variational Omni Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.009%+$1 on $10k

Price spread, last 3 days (all we have)−0.017%−$2 · spread now +0.004%, 7d avg +0.028%

Together, before fees−0.008%+ Points / potential airdropVariational Omni: Active · farm board−$1 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aevo is 0.024% cheaper against Variational Omni than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni HYPE	93.652	0.0100	pay 0.0100% / 8h	2h 22m	$29.0M	$50.0M	—
Short	Aevo HYPE-PERP	93.656	0.0104	get 0.0013% / 1h	22m 14s	$398K	$318K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee AevobpOrdersPrice spread, now +0.004%Rate

Funding earned: $0.84
Price spread: +0.004% → +0.028%: −$2.39
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$17.55
Costs to cover: 0.160%
Break-even: 153.3 days

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Aevo: live order book, 2 min ago. 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 Variational Omni RFQ quote, 2 min ago	0.44 bp	doesn't fit	2.5 bp −$25	7.9 bp −$794	doesn't fit
Sell Aevo live order book, 2 min ago	4.37 bp	13.2 bp −$13	17.1 bp −$171	22.6 bp −$2,259	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
Hibachi HYPE/USDT-P	−0.1008%	1h	93.647	−0.005%	$198K	$233K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0291%	1h	93.660	+0.009%	$22K	$22K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0238%	1h	93.630	−0.023%	$702K	$934K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.679	+0.029%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0064%	1h	93.677	+0.027%	$90K	$343K	20x	as long as short
Bullet HYPE-USD	−0.0016%	1h	93.638	−0.014%	$111K	$583K	20x	as long as short
Derive HYPE-PERP	−0.0009%	1h	93.599	−0.056%	$16.4M	$7.0M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.721	+0.074%	$128K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.651	−0.001%	$23K	$337K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.684	+0.034%	$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	+0.0029%	4h	93.679	+0.029%	$9.0M	$35.8M	300x	as long as short
Gate HYPE_USDT	+0.0032%	4h	93.656	+0.005%	$44.1M	$57.1M	75x	as long as short
Bybit HYPEUSDT	+0.0036%	8h	93.650	−0.002%	$326.1M	$287.1M	75x	as long as short
Orderly PERP_HYPE_USDC	+0.0063%	4h	93.644	−0.008%	$175K	$536K	20x	as long as short
Popdex HYPEUSDT	+0.0064%	1h	93.639	−0.014%	$57K	$1.2M	50x	as long as short
Phoenix HYPE	+0.0068%	1h	93.742	+0.096%	$216K	$1.2M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.707	+0.059%	$18.6M	$59.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.689	+0.040%	$3.1M	$12.4M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0100%	8h	93.687	+0.038%	$340K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.690	+0.041%	$40K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.638	−0.014%	$6.0M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.748	+0.103%	$2.04B	$669.8M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.680	+0.030%	$10.0M	$14.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.654	+0.002%	$386.4M	$888.5M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.635	−0.018%	$115.0M	$316.0M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.627	−0.026%	$1.2M	$4.0M	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.651	−0.001%	$93.7M	$82.3M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.662	+0.011%	$46.5M	$18.7M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.668	+0.017%	$227.4M	$102.3M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.640	−0.013%	—	$54.2M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.688	+0.039%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPElong	+0.0100%	8h	93.652	long leg	$29.0M	$50.0M	—
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.613	−0.041%	$7.5M	$45.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.545	−0.114%	$406K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.752	+0.107%	$678K	$2.4M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.698	+0.050%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.685	+0.036%	$495K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.644	−0.008%	$76K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.704	+0.056%	$33K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.650	−0.002%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.631	−0.022%	$12.8M	$2.6M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.556	−0.102%	$204K	$12K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.625	−0.028%	$18.3M	$41.2M	50x	as long as short
Aevo HYPE-PERPshort	+0.0104%	1h	93.656	+0.004%	$398K	$318K	20x
edgeX HYPEUSDC	+0.0105%	4h	93.554	−0.104%	$5.1M	$29.5M	30x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0124%	1h	93.741	+0.095%	$7.4M	$4.6M	50x	as long as short
Kalshi KXHYPEPERP	+0.0132%	8h	93.740	+0.094%	$1.9M	$5.3M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.700	+0.052%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0245%	1h	93.639	−0.014%	$78K	$158K	15x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.610	−0.045%	$30K	$291K	12x	as long as short
HTX HYPE-USDT	+0.0308%	4h	93.825	+0.185%	$1.5M	$7.6M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0164%	1h	93.686	+0.036%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.715	+0.068%	$17.1M	$12.5M	75x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.710	+0.062%	$2.8M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0572%	1h	93.757	+0.112%	$19.2M	$26.0M	50x	as long as short