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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 23:00 UTC+0.0059%/8h= +6.5% APRnext payment +$0.07 per $10,000 · paid last 24h +0.016%
Price spread now: GMX against ApeX Omni−0.208%68s7-day average +0.021% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on ApeX OmniShort on GMX
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.062%+$6 on $10k
Price spread, last 3 days (all we have)+0.315%+$32 · spread now −0.208%, 7d avg +0.021%
Together, before fees+0.377%+$38 on $10k · with fees, hour by hour
Funding pays, the price is against you. GMX is 0.229% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.208% now, against its 7-day average of +0.021%). If the spread goes back, that is −$23 on $10k: about 13 days of funding at the current rate (+$2 a day). The two prices were read 68 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongApeX Omni HYPEUSDT93.2460.0100pay 0.0013% / 1h36m 09s$412K$1.0M50x
ShortGMX HYPE/USD [WBTC.b-USDC]93.052L +0.0340% / S −0.0159%get 0.0020% / 1h36m 09s$1.5M—100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

GMX 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

Funding earned
$12.38
Price spread: −0.208% → +0.021%
−$22.9
Slippage, 4 orders
no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders
−$10
Fee GMX: 6 bp × 2 orders
−$12
Net
−$32.51
Costs to cover
0.220%
Break-even
25.4 days
Slippage unknown: ApeX Omni: live order book, 3 min ago; GMX: 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
LegHalf-spread$10k$100k$1M$5M
Buy ApeX Omni live order book, 3 min ago3.97 bp9.0 bp −$911.8 bp −$118doesn't fitdoesn't fit
Sell GMX no order-book sample—————
GMX: 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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aftermath Perps HYPEUSD−0.0361%1h93.192−0.058%$22K$22K10xas long as short
Hibachi HYPE/USDT-P−0.0192%1h93.147−0.106%$197K$230K7xas long as short
Arcus HYPE-USD−0.0131%1h93.027−0.235%$1.2M$4.0M10xas long as short
Ondo Perps HYPE-USD.P−0.0105%1h93.070−0.189%$698K$923K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.118−0.137%$3K$33125xas long as short
01 Exchange HYPEUSD−0.0016%1h93.044−0.217%$90K$362K20xas long as short
Popdex HYPEUSDT−0.0008%1h93.039−0.222%$58K$1.2M50xas long as short
dYdX HYPE-USD0.0000%1h93.114−0.141%$127K$32K5xas long as short
Perpl HYPE0.0000%43m93.046−0.214%$23K$331K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0001%1h93.060−0.199%$20K—150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster HYPEUSDT+0.0005%4h92.989−0.276%$8.8M$36.0M300xas long as short
Bybit HYPEUSDT+0.0027%8h93.010−0.253%$322.8M$286.9M75xas long as short
Orderly PERP_HYPE_USDC+0.0031%4h93.051−0.209%$171K$519K20xas long as short
Derive HYPE-PERP+0.0031%1h92.993−0.271%$16.3M$7.1M10xas long as short
Phoenix HYPE+0.0034%1h93.374+0.137%$214K$1.2M10xas long as short
Bullet HYPE-USD+0.0035%1h93.010−0.253%$111K$579K20xas long as short
Gate HYPE_USDT+0.0040%4h92.991−0.273%$43.8M$58.0M75xas long as short
MEXC HYPE_USDT+0.0088%4h92.986−0.279%$89.7M$81.8M100xas long as short
Binance HYPEUSDT+0.0089%4h93.015−0.248%$382.4M$892.8M75xas long as short
Lighter HYPE+0.0096%1h93.036−0.225%$18.5M$58.8M20xas long as short
Lighter RH HYPE+0.0096%1h93.021−0.241%$3.1M$12.1M20xas long as short
Paradex HYPE-USD-PERP+0.0098%8h93.067−0.191%$338K$170K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.060−0.199%$40K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.035−0.226%$5.9M$44.0M10xas long as short
Hyperliquid HYPE+0.0100%1h93.021−0.241%$2.02B$670.3M10xas long as short
Pacifica HYPE+0.0100%1h93.084−0.174%$10.0M$14.3M20xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.014−0.249%$113.6M$313.3M50xas long as short
Bulk HYPE-USD+0.0100%1h93.390+0.154%$204K$10K10xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.006−0.257%$47.1M$18.9M75xas long as short
Bitget HYPEUSDT+0.0100%4h92.998−0.266%$225.4M$102.9M75xas long as short
BingX HYPE-USDT+0.0100%4h92.980−0.285%—$53.9M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.011−0.252%$7.8M$11.2M20xas long as short
Variational Omni HYPE+0.0100%8h93.354+0.116%$29.0M$50.5M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.268+0.023%$7.5M$46.0M10xas long as short
ApeX Omni HYPEUSDTlong+0.0100%1h93.246long leg$412K$1.0M50x
StandX HYPE-USD+0.0100%1h93.129−0.125%$674K$2.5M20xas long as short
Vest HYPE-PERP+0.0100%1h93.096−0.161%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.067−0.192%$492K$2.5M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.017−0.246%$76K$167K20xas long as short
SunX HYPE-USDT+0.0100%4h93.069−0.190%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.005−0.258%$2.0M$2.0M10xas long as short
Phemex HYPEUSDT+0.0100%8h93.047−0.213%$12.7M$2.6M50xas long as short
Extended HYPE-USD+0.0104%1h93.000−0.264%$18.2M$42.1M50xas long as short
Aevo HYPE-PERP+0.0104%1h92.998−0.266%$396K$318K20xas long as short
edgeX HYPEUSDC+0.0106%4h93.228−0.019%$5.1M$29.6M30xas long as short
Kalshi KXHYPEPERP+0.0106%8h93.149−0.104%$1.9M$5.3M2.3xas long as short
Coinbase International HYPE-PERP-INTX+0.0176%1h93.120−0.135%$4.9M$5.7M50xas long as short
Injective HYPE/USDC PERP+0.0239%1h93.070−0.189%$30K$338K12xas long as short
Reya HYPERUSDPERP+0.0247%1h93.017−0.245%$77K$158K15xas long as short
HTX HYPE-USDT+0.0257%4h93.200−0.049%$1.5M$7.7M75xas long as short
RISEx HYPE/USDC+0.0280%1h93.113−0.142%$2.8M$6.8M20xas long as short
BloFin HYPE-USDT+0.0329%4h93.087−0.171%$16.9M$12.4M75xas long as short
GMX HYPE/USD [WBTC.b-USDC]shortL +0.0340% / S −0.0159%1h93.052−0.208%$1.5M—100x
Deribit HYPE_USDC-PERPETUAL+0.0416%1h93.131−0.123%$7.4M$4.6M50xas long as short
Kraken Futures PF_HYPEUSD+0.0467%1h93.092−0.165%$20.8M$28.9M50xas long as short