Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Polymarket Perps against ApeX Omni+0.121%7-day average −0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

costs, in and out, $10k−$250.255% of the position

Long on ApeX Omni Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.046%−$5 on $10k

Price spread, last 7 days−0.195%−$20 · spread now +0.121%, 7d avg −0.035%

Together, before fees−0.241%−$24 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: Polymarket Perps is 0.157% dearer against ApeX Omni than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of −0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni HYPEUSDT	93.095	0.0100	pay 0.0013% / 1h	22m 36s	$341K	$1.0M	50x
Short	Polymarket Perps HYPE-USD	93.208	0.0100	get 0.0013% / 1h	22m 36s	$483K	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket 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 Polymarket PerpsbpOrdersPrice spread, now +0.121%Rate

Funding earned: $0
Price spread: +0.121% → −0.035%: $15.67
Slippage, 4 orders: −$7.49
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$9.81
Costs to cover: 0.255%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 1 min ago; Polymarket Perps: 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, 1 min ago	2.04 bp	7.9 bp −$8	11.6 bp −$116	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 1 min ago	0.54 bp	4.5 bp −$5	5.0 bp −$50	11.2 bp −$1,115	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	−0.1424%	1h	93.245	+0.161%	$197K	$237K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0377%	1h	93.214	+0.128%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.373	+0.299%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0061%	1h	93.199	+0.112%	$111K	$581K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0021%	4h	93.238	+0.154%	$145K	$672K	20x	as long as short
01 Exchange HYPEUSD	−0.0008%	1h	93.467	+0.400%	$88K	$365K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.395	+0.322%	$128K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.246	+0.162%	$22K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.239	+0.154%	$62K	—	150x	as long as short
Arcus HYPE-USD	+0.0011%	1h	93.368	+0.293%	$1.0M	$3.9M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget HYPEUSDT	+0.0012%	4h	93.384	+0.310%	$225.3M	$98.9M	75x	as long as short
Bybit HYPEUSDT	+0.0019%	8h	93.417	+0.346%	$317.2M	$282.2M	75x	as long as short
Phoenix HYPE	+0.0026%	1h	93.255	+0.172%	$207K	$1.2M	10x	as long as short
Ondo Perps HYPE-USD.P	+0.0030%	1h	93.240	+0.156%	$702K	$1.2M	10x	as long as short
Phemex HYPEUSDT	+0.0060%	8h	93.318	+0.240%	$12.7M	$2.8M	50x	as long as short
edgeX HYPEUSDC	+0.0085%	4h	93.101	+0.006%	$4.9M	$29.9M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0094%	8h	93.398	+0.326%	$340K	$157K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.363	+0.288%	$16.1M	$63.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.365	+0.290%	$3.1M	$11.5M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.435	+0.365%	$75K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.410	+0.338%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.210	+0.124%	$8.0M	$48.3M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.397	+0.324%	$2.03B	$665.6M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.407	+0.335%	$8.7M	$36.3M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.390	+0.317%	$10.1M	$15.3M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.422	+0.352%	$374.6M	$911.7M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.434	+0.364%	$114.7M	$309.7M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.358	+0.283%	$216K	$15K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	93.399	+0.327%	$47.0M	$54.4M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.390	+0.317%	$90.3M	$81.4M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.368	+0.293%	$46.2M	$18.8M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.393	+0.320%	—	$53.8M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.329	+0.251%	$7.1M	$10.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.070	−0.027%	$28.4M	$56.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.294	+0.213%	$7.5M	$47.1M	10x	as long as short
ApeX Omni HYPEUSDTlong	+0.0100%	1h	93.095	long leg	$341K	$1.0M	50x
StandX HYPE-USD	+0.0100%	1h	93.255	+0.172%	$667K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.283	+0.202%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USDshort	+0.0100%	1h	93.208	+0.121%	$483K	$2.7M	20x
Bluefin HYPE-PERP	+0.0100%	1h	93.275	+0.193%	$79K	$166K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.258	+0.175%	$16.1M	$7.4M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.224	+0.139%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.278	+0.197%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.350	+0.274%	$1.4M	$6.5M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.370	+0.296%	$18.1M	$43.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.249	+0.166%	$394K	$158K	20x	as long as short
Kalshi KXHYPEPERP	+0.0108%	8h	93.314	+0.235%	$1.8M	$5.6M	2.3x	as long as short
Injective HYPE/USDC PERP	+0.0122%	1h	93.140	+0.048%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.250	+0.166%	$4.6M	$5.8M	50x	as long as short
Reya HYPERUSDPERP	+0.0269%	1h	93.183	+0.094%	$80K	$127K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0154%	1h	93.221	+0.136%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.312	+0.233%	$16.8M	$11.9M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0341%	1h	93.327	+0.249%	$20.8M	$29.5M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0436%	1h	93.348	+0.272%	$7.5M	$4.0M	50x	as long as short
RISEx HYPE/USDC	+0.0527%	1h	93.470	+0.403%	$3.2M	$6.2M	20x	as long as short