Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0110%/8h= +12.1% APRpaid last 24h +0.040%

Price spread now: HTX against ApeX Omni−0.161%7-day average +0.060% · you buy dearer than you sell

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$370.368% of the position

Long on ApeX Omni Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.044%+$4 on $10k

Price spread, last 4 days (all we have)+0.081%+$8 · spread now −0.161%, 7d avg +0.060%

Together, before fees+0.125%+$13 on $10k · with fees, hour by hour

Funding pays, the price is against you. HTX is 0.221% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.161% now, against its 7-day average of +0.060%). If the spread goes back, that is −$22 on $10k: about 6.7 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.044% in total) that is about 35 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni HYPEUSDT	95.003	−0.0010	get 0.0001% / 1h	50m 50s	$323K	$925K	50x
Short	HTX HYPE-USDT	94.850	0.0100	get 0.0050% / 4h	50m 50s	$1.4M	$5.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.161%Rate

Funding earned: $23.18
Price spread: −0.161% → +0.060%: −$22.06
Slippage, 4 orders: −$14.79
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$35.66
Costs to cover: 0.368%
Break-even: 17.8 days

Slippage from ApeX Omni: live order book, 51 min ago; HTX: live order book, 1 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, 51 min ago	2.31 bp	8.6 bp −$9	12.4 bp −$124	doesn't fit	doesn't fit
Sell HTX live order book, 1 min ago	2.05 bp	10.3 bp −$10	15.7 bp −$157	56.2 bp −$5,624	doesn't fit

HYPE on 55 exchanges

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
Kraken Futures PF_HYPEUSD	−0.0282%	1h	94.771	−0.244%	$18.3M	$32.6M	50x	as long as short
Phemex HYPEUSDT	−0.0261%	8h	94.756	−0.260%	$12.9M	$2.2M	50x	as long as short
Ondo Perps HYPE-USD.P	−0.0228%	1h	94.770	−0.245%	$677K	$1.3M	10x	as long as short
Bluefin HYPE-PERP	−0.0221%	1h	94.700	−0.319%	$78K	$130K	20x	as long as short
Lighter HYPE	−0.0128%	1h	94.710	−0.308%	$16.5M	$55.2M	20x	as long as short
Aster HYPEUSDT	−0.0101%	4h	94.708	−0.311%	$9.0M	$34.3M	300x	as long as short
01 Exchange HYPEUSD	−0.0096%	1h	94.794	−0.220%	$102K	$349K	20x	as long as short
Gate HYPE_USDT	−0.0082%	4h	94.754	−0.262%	$55.9M	$52.6M	75x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.894	−0.115%	$3K	$421	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0073%	4h	94.698	−0.321%	$147K	$642K	20x	as long as short

Show all 55 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International HYPE-PERP-INTX	−0.0064%	1h	94.750	−0.266%	$4.7M	$5.4M	50x	as long as short
Aftermath Perps HYPEUSD	−0.0049%	1h	95.040	+0.039%	$22K	$17K	10x	as long as short
OKX HYPE-USDT-SWAP	−0.0042%	8h	94.696	−0.323%	$119.0M	$302.3M	50x	as long as short
Bitget HYPEUSDT	−0.0028%	4h	94.708	−0.311%	$229.3M	$85.7M	75x	as long as short
Bullet HYPE-USD	−0.0021%	1h	94.757	−0.259%	$114K	$585K	20x	as long as short
Phoenix HYPE	−0.0017%	1h	94.936	−0.071%	$198K	$1.1M	10x	as long as short
ApeX Omni HYPEUSDTlong	−0.0010%	1h	95.003	long leg	$323K	$925K	50x
dYdX HYPE-USD	0.0000%	1h	94.862	−0.148%	$128K	$96K	5x	as long as short
Perpl HYPE	0.0000%	43m	94.805	−0.208%	$23K	$248K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	94.790	−0.225%	$99K	—	150x	as long as short
Derive HYPE-PERP	+0.0020%	1h	94.685	−0.335%	$16.3M	$7.0M	10x	as long as short
edgeX HYPEUSDC	+0.0025%	4h	94.997	−0.006%	$5.0M	$27.9M	30x	as long as short
Bybit HYPEUSDT	+0.0026%	8h	94.730	−0.287%	$319.9M	$261.9M	75x	as long as short
Binance HYPEUSDT	+0.0029%	4h	94.742	−0.275%	$382.0M	$848.1M	75x	as long as short
Popdex HYPEUSDT	+0.0032%	1h	94.808	−0.205%	$274K	$998K	50x	as long as short
MEXC HYPE_USDT	+0.0032%	4h	94.770	−0.245%	$89.6M	$82.3M	100x	as long as short
SoDEX HYPE-USD	+0.0040%	1h	94.760	−0.256%	$2.1M	$335K	10x	as long as short
BingX HYPE-USDT	+0.0042%	4h	94.733	−0.284%	—	$49.6M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0054%	1h	94.750	−0.266%	$6.8M	$12.3M	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0056%	1h	94.824	−0.188%	$7.5M	$4.2M	50x	as long as short
KuCoin HYPEUSDTM	+0.0088%	4h	94.749	−0.267%	$47.4M	$17.7M	75x	as long as short
Aevo HYPE-PERP	+0.0088%	1h	94.721	−0.296%	$400K	$125K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0092%	8h	94.826	−0.187%	$338K	$30K	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.741	−0.276%	$3.2M	$9.8M	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	94.760	−0.256%	$39K	$1.5M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.816	−0.196%	$7.2M	$50.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.847	−0.164%	$2.10B	$639.8M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.845	−0.167%	$10.2M	$12.9M	20x	as long as short
Arcus HYPE-USD	+0.0100%	1h	94.806	−0.207%	$1.0M	$2.8M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	95.036	+0.035%	$228K	$20K	10x	as long as short
Variational Omni HYPE	+0.0100%	8h	95.030	+0.028%	$29.7M	$52.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	95.002	−0.001%	$7.7M	$41.1M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.901	−0.107%	$690K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.877	−0.133%	—	$80K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.805	−0.208%	$497K	$2.4M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.800	−0.214%	$32K	$1.4M	20x	as long as short
HTX HYPE-USDTshort	+0.0100%	4h	94.850	−0.161%	$1.4M	$5.3M	75x
Extended HYPE-USD	+0.0104%	1h	94.734	−0.283%	$18.2M	$37.4M	50x	as long as short
Kalshi KXHYPEPERP	+0.0119%	8h	94.872	−0.138%	$1.8M	$5.1M	2.3x	as long as short
BloFin HYPE-USDT	+0.0135%	4h	94.728	−0.289%	$17.5M	$11.5M	75x	as long as short
RISEx HYPE/USDC	+0.0138%	1h	94.820	−0.193%	$3.1M	$5.2M	20x	as long as short
Reya HYPERUSDPERP	+0.0268%	1h	94.745	−0.272%	$84K	$90K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0155%	1h	94.797	−0.217%	$1.4M	—	100x	as long as short
Hibachi HYPE/USDT-P	+0.1016%	1h	94.967	−0.038%	$214K	$277K	7x	as long as short
Injective HYPE/USDC PERP	+0.1234%	1h	95.420	+0.439%	$31K	$334K	12x	as long as short