Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.002%

Price spread now: SunX against ApeX Omni−0.009%7-day average +0.069% · you buy dearer than you sell

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs−$86as in the Price arb table

costs, in and out, $10k−$790.785% of the position

Long on ApeX Omni Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.005%+$1 on $10k

Price spread, last 3 days (all we have)−0.085%−$8 · spread now −0.009%, 7d avg +0.069%

Together, before fees−0.079%−$8 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: SunX is 0.078% cheaper against ApeX Omni than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.069%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni HYPEUSDT	93.613	0.0100	pay 0.0013% / 1h	24m 39s	$382K	$1.1M	50x
Short	SunX HYPE-USDT	93.605	0.0100	get 0.0050% / 4h	3h 24m	$32K	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.009%Rate

Funding earned: $0
Price spread: −0.009% → +0.069%: −$7.8
Slippage, 4 orders: −$60.5
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$86.31
Costs to cover: 0.785%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 4 min ago; SunX: live order book, 11 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	4.28 bp	11.6 bp −$12	15.5 bp −$155	doesn't fit	doesn't fit
Sell SunX live order book, 11 min ago	19.36 bp	32.8 bp −$33	doesn't fit	doesn't fit	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	−0.1400%	1h	93.684	+0.076%	$198K	$239K	7x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.790	+0.189%	$3K	$331	25x	as long as short
Aftermath Perps HYPEUSD	−0.0022%	1h	93.616	+0.003%	$22K	$22K	10x	as long as short
Gate HYPE_USDT	−0.0016%	4h	93.588	−0.027%	$44.1M	$56.4M	75x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.608	−0.005%	$127K	$33K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.647	+0.036%	$1.9M	$5.3M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.637	+0.026%	$23K	$350K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0005%	1h	93.575	−0.041%	$44K	—	150x	as long as short
Aster HYPEUSDT	+0.0022%	4h	93.597	−0.017%	$9.0M	$36.8M	300x	as long as short
01 Exchange HYPEUSD	+0.0024%	1h	93.591	−0.024%	$89K	$341K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit HYPEUSDT	+0.0057%	8h	93.590	−0.025%	$326.5M	$287.8M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0066%	1h	93.649	+0.038%	$18.6M	$24.2M	50x	as long as short
Ondo Perps HYPE-USD.P	+0.0081%	1h	93.550	−0.067%	$703K	$952K	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0088%	4h	93.541	−0.077%	$178K	$521K	20x	as long as short
Phoenix HYPE	+0.0094%	1h	93.834	+0.236%	$211K	$1.1M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.656	+0.046%	$18.7M	$58.3M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.638	+0.027%	$3.1M	$12.4M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.585	−0.030%	$56K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.650	+0.040%	$21K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.561	−0.056%	$5.8M	$44.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.615	+0.003%	$10.0M	$14.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.602	−0.012%	$388.7M	$885.3M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.586	−0.029%	$114.8M	$317.2M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.578	−0.037%	$1.2M	$4.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.684	+0.076%	$205K	$9K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.606	−0.007%	$90.9M	$82.6M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.614	+0.001%	$46.3M	$19.7M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.599	−0.015%	$226.9M	$102.8M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.598	−0.016%	—	$54.4M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.585	−0.030%	$8.0M	$11.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.766	+0.164%	$28.9M	$49.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.538	−0.080%	$7.5M	$45.5M	10x	as long as short
ApeX Omni HYPEUSDTlong	+0.0100%	1h	93.613	long leg	$382K	$1.1M	50x
StandX HYPE-USD	+0.0100%	1h	93.820	+0.221%	$678K	$2.3M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.625	+0.013%	$491K	$2.6M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	93.765	+0.162%	$112K	$576K	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.547	−0.071%	$76K	$169K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.517	−0.103%	$16.4M	$7.0M	10x	as long as short
SunX HYPE-USDTshort	+0.0100%	4h	93.605	−0.009%	$32K	$1.6M	20x
SoDEX HYPE-USD	+0.0100%	1h	93.515	−0.105%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.559	−0.058%	$12.7M	$2.6M	50x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.671	+0.062%	—	$454K	5x	as long as short
Paradex HYPE-USD-PERP	+0.0101%	8h	93.620	+0.008%	$340K	$172K	20x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.590	−0.025%	$18.2M	$40.6M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.538	−0.081%	$398K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0119%	4h	93.646	+0.035%	$5.1M	$29.1M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.860	+0.264%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0243%	1h	93.583	−0.032%	$77K	$157K	15x	as long as short
Injective HYPE/USDC PERP	+0.0254%	1h	94.110	+0.531%	$31K	$182K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0306%	1h	93.635	+0.024%	$7.4M	$4.6M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0165%	1h	93.577	−0.039%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.502	−0.119%	$17.1M	$12.4M	75x	as long as short
Hyperliquid HYPE	+0.0377%	1h	93.705	+0.098%	$2.05B	$665.7M	10x	as long as short
RISEx HYPE/USDC	+0.0422%	1h	93.684	+0.076%	$2.9M	$6.7M	20x	as long as short
HTX HYPE-USDT	+0.0497%	4h	93.750	+0.146%	$1.5M	$7.6M	75x	as long as short