Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0102%/8h= −11.2% APRpaid last 24h −0.029%

Price spread now: Gate against ApeX Omni−0.005%7-day average −0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$390.392% of the position

Long on ApeX Omni Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.087%−$9 on $10k

Price spread, last 3 days (all we have)−0.380%−$38 · spread now −0.005%, 7d avg −0.025%

Together, before fees−0.466%−$47 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.025%, 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	ApeX Omni HYPEUSDT	93.338	0.0100	pay 0.0013% / 1h	55m 07s	$405K	$1.1M	50x
Short	Gate HYPE_USDT	93.333	−0.0002	pay 0.0001% / 4h	2h 55m	$44.1M	$56.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against ApeX Omni. 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 ApeX OmnibpFee GatebpOrdersPrice spread, now −0.005%Rate

Funding earned: −$21.42
Price spread: −0.005% → −0.025%: $1.94
Slippage, 4 orders: −$14.23
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$58.71
Costs to cover: 0.392%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 4 min ago; Gate: 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 ApeX Omni live order book, 4 min ago	3.64 bp	9.4 bp −$9	12.8 bp −$128	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	0.05 bp	10.2 bp −$10	13.6 bp −$136	28.1 bp −$2,806	51.9 bp −$25.9K

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	−0.1328%	1h	93.228	−0.118%	$197K	$235K	7x	as long as short
Ondo Perps HYPE-USD.P	−0.0154%	1h	93.260	−0.084%	$699K	$951K	10x	as long as short
01 Exchange HYPEUSD	−0.0104%	1h	93.365	+0.029%	$89K	$340K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0102%	1h	93.323	−0.016%	$22K	$22K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.294	−0.047%	$3K	$331	25x	as long as short
Gate HYPE_USDTshort	−0.0002%	4h	93.333	−0.005%	$44.1M	$56.1M	75x
dYdX HYPE-USD	0.0000%	1h	93.341	+0.003%	$127K	$33K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.463	+0.134%	$1.9M	$5.4M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.348	+0.010%	$24K	$343K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.400	+0.066%	$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	+0.0002%	4h	93.374	+0.039%	$8.9M	$36.3M	300x	as long as short
Derive HYPE-PERP	+0.0037%	1h	93.341	+0.003%	$16.4M	$7.1M	10x	as long as short
Bybit HYPEUSDT	+0.0041%	8h	93.212	−0.135%	$324.9M	$288.6M	75x	as long as short
Popdex HYPEUSDT	+0.0056%	1h	93.354	+0.017%	$56K	$1.2M	50x	as long as short
Bullet HYPE-USD	+0.0068%	1h	93.366	+0.030%	$112K	$583K	20x	as long as short
Orderly PERP_HYPE_USDC	+0.0078%	4h	93.393	+0.059%	$180K	$536K	20x	as long as short
Phoenix HYPE	+0.0094%	1h	93.336	−0.002%	$215K	$1.2M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.388	+0.054%	$18.5M	$58.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.376	+0.041%	$3.1M	$12.3M	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.370	+0.034%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.279	−0.063%	$6.0M	$44.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.374	+0.039%	$2.03B	$674.7M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.324	−0.015%	$10.0M	$14.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.366	+0.031%	$386.4M	$890.4M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.176	−0.174%	$114.7M	$315.7M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.304	−0.036%	$1.2M	$4.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.386	+0.052%	$204K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.349	+0.012%	$92.1M	$81.4M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.345	+0.007%	$46.3M	$19.6M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.204	−0.144%	$226.5M	$102.1M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.323	−0.016%	—	$54.6M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.382	+0.047%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.285	−0.057%	$28.8M	$49.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.319	−0.021%	$7.5M	$46.8M	10x	as long as short
ApeX Omni HYPEUSDTlong	+0.0100%	1h	93.338	long leg	$405K	$1.1M	50x
StandX HYPE-USD	+0.0100%	1h	93.361	+0.025%	$675K	$2.4M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.391	+0.057%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.394	+0.060%	$494K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.404	+0.071%	$76K	$169K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.334	−0.004%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.384	+0.049%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.374	+0.039%	$12.7M	$2.6M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0100%	8h	93.305	−0.036%	$339K	$171K	20x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.190	−0.159%	$18.4M	$41.0M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.401	+0.067%	$397K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0120%	4h	93.294	−0.047%	$5.1M	$29.4M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.390	+0.056%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0244%	1h	93.376	+0.041%	$77K	$157K	15x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.210	−0.137%	$30K	$231K	12x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0165%	1h	93.400	+0.067%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.352	+0.015%	$17.2M	$12.5M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0403%	1h	93.491	+0.164%	$7.4M	$4.6M	50x	as long as short
HTX HYPE-USDT	+0.0422%	4h	93.533	+0.209%	$1.5M	$7.6M	75x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.389	+0.055%	$2.7M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0573%	1h	93.492	+0.165%	$18.8M	$24.8M	50x	as long as short