Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.002%

Price spread now: Katana Perps against ApeX Omni+0.050%7-day average −0.037% · you sell dearer than you buy

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

Long on ApeX Omni Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.016%−$2 on $10k

Price spread, last 7 days−0.072%−$7 · spread now +0.050%, 7d avg −0.037%

Together, before fees−0.088%−$9 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: Katana Perps is 0.088% dearer against ApeX Omni than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni HYPEUSDT	93.333	0.0100	pay 0.0013% / 1h	35m 22s	$339K	$1.0M	50x
Short	Katana Perps HYPE-USD	93.380	0.0100	get 0.0100% / 8h	5h 35m	$17K	$1.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps 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 Katana PerpsbpOrdersPrice spread, now +0.050%Rate

Funding earned: −$0.04
Price spread: +0.050% → −0.037%: $8.78
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: −$5.06
Costs to cover: 0.138%
Break-even: never at this rate

Slippage unknown: ApeX Omni: live order book, 4 min ago; Katana 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 ApeX Omni live order book, 4 min ago	2.04 bp	8.9 bp −$9	12.4 bp −$124	doesn't fit	doesn't fit
Sell Katana Perps no order-book sample	—	—	—	—	—

Katana 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	−0.1296%	1h	93.292	−0.044%	$196K	$226K	7x	as long as short
Arcus HYPE-USD	−0.0899%	1h	93.240	−0.100%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0099%	1h	93.300	−0.035%	$699K	$982K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.355	+0.024%	$3K	$331	25x	as long as short
Phemex HYPEUSDT	−0.0062%	8h	93.367	+0.036%	$12.6M	$2.7M	50x	as long as short
01 Exchange HYPEUSD	−0.0056%	1h	93.384	+0.055%	$85K	$344K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0055%	1h	93.379	+0.049%	$22K	$21K	10x	as long as short
Orderly PERP_HYPE_USDC	−0.0044%	4h	93.361	+0.030%	$154K	$640K	20x	as long as short
Bullet HYPE-USD	−0.0007%	1h	93.398	+0.070%	$112K	$577K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.361	+0.030%	$128K	$31K	5x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	93.408	+0.081%	$23K	$322K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.413	+0.085%	$62K	—	150x	as long as short
Aster HYPEUSDT	+0.0020%	4h	93.375	+0.045%	$8.8M	$35.5M	300x	as long as short
Phoenix HYPE	+0.0026%	1h	93.393	+0.064%	$213K	$1.2M	10x	as long as short
BingX HYPE-USDT	+0.0026%	4h	93.387	+0.058%	—	$53.0M	—	as long as short
Bybit HYPEUSDT	+0.0030%	8h	93.381	+0.051%	$321.3M	$277.1M	75x	as long as short
Gate HYPE_USDT	+0.0052%	4h	93.392	+0.063%	$44.6M	$54.8M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0078%	8h	93.390	+0.061%	$114.1M	$302.0M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.376	+0.046%	$16.3M	$61.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.397	+0.069%	$3.1M	$11.6M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.377	+0.047%	$69K	$1.2M	50x	as long as short
MEXC HYPE_USDT	+0.0096%	4h	93.387	+0.058%	$89.9M	$80.7M	100x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.391	+0.062%	$339K	$162K	20x	as long as short
Binance HYPEUSDT	+0.0098%	4h	93.397	+0.069%	$378.8M	$876.2M	75x	as long as short
Katana Perps HYPE-USDshort	+0.0100%	8h	93.380	+0.050%	$17K	$1.6M	10x
Nado HYPE-PERP	+0.0100%	1h	93.377	+0.048%	$5.8M	$43.3M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.459	+0.135%	$2.04B	$653.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.382	+0.053%	$10.0M	$14.6M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.364	+0.033%	$203K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.405	+0.077%	$45.9M	$18.1M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.398	+0.070%	$225.8M	$96.6M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.377	+0.047%	$7.4M	$10.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.367	+0.036%	$31.1M	$53.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.365	+0.034%	$7.5M	$45.5M	10x	as long as short
ApeX Omni HYPEUSDTlong	+0.0100%	1h	93.333	long leg	$339K	$1.0M	50x
StandX HYPE-USD	+0.0100%	1h	93.388	+0.059%	$666K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.432	+0.106%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.425	+0.099%	$472K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.371	+0.041%	$79K	$170K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.373	+0.043%	$16.2M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.399	+0.071%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.401	+0.073%	$2.0M	$1.9M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.329	−0.004%	$18.4M	$43.6M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.389	+0.060%	$397K	$162K	20x	as long as short
edgeX HYPEUSDC	+0.0110%	4h	93.315	−0.020%	$5.1M	$29.7M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.420	+0.093%	$4.8M	$5.6M	50x	as long as short
HTX HYPE-USDT	+0.0194%	4h	93.546	+0.228%	$1.4M	$6.0M	75x	as long as short
Reya HYPERUSDPERP	+0.0258%	1h	93.384	+0.055%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0277%	8h	93.458	+0.134%	$1.9M	$5.0M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0156%	1h	93.426	+0.100%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0336%	4h	93.364	+0.033%	$17.0M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0360%	1h	93.481	+0.159%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0510%	1h	93.461	+0.137%	$3.2M	$6.3M	20x	as long as short
Injective HYPE/USDC PERP	+0.0519%	1h	93.220	−0.121%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0685%	1h	93.444	+0.118%	$20.8M	$29.9M	50x	as long as short