Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0063%/8h= +6.9% APRpaid last 24h +0.019%

Price spread now: ApeX Omni against Bybit+0.193%7-day average +0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$12as in the Price arb table

costs, in and out, $10k−$310.305% of the position

Long on Bybit Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.065%+$6 on $10k

Price spread, last 7 days−0.220%−$22 · spread now +0.193%, 7d avg +0.008%

Together, before fees−0.156%−$16 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and ApeX Omni is 0.185% dearer against Bybit than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of +0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit HYPEUSDT	92.310	0.0037	pay 0.0037% / 8h	4h 49m	$316.7M	$279.5M	75x
Short	ApeX Omni HYPEUSDT	92.488	0.0100	get 0.0013% / 1h	49m 31s	$338K	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bybit. 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 BybitbpFee ApeX OmnibpOrdersPrice spread, now +0.193%Rate

Funding earned: $13.28
Price spread: +0.193% → +0.008%: $18.45
Slippage, 4 orders: −$9.51
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $1.22
Costs to cover: 0.305%
Break-even: 6.4 days

Slippage from Bybit: live order book, 5 min ago; ApeX Omni: live order book, 4 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 Bybit live order book, 5 min ago	0.54 bp	6.6 bp −$7	8.6 bp −$86	15.7 bp −$1,571	51.4 bp −$25.7K
Sell ApeX Omni live order book, 4 min ago	2.64 bp	8.5 bp −$9	14.1 bp −$141	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
Arcus HYPE-USD	−0.0948%	1h	92.216	−0.102%	$1.2M	$3.8M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0728%	1h	92.519	+0.226%	$194K	$227K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0112%	1h	92.647	+0.365%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0112%	1h	92.316	+0.006%	$85K	$352K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.501	+0.207%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0067%	4h	92.385	+0.081%	$157K	$663K	20x	as long as short
Bullet HYPE-USD	−0.0053%	1h	92.394	+0.091%	$110K	$579K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0046%	1h	92.280	−0.032%	$699K	$1.1M	10x	as long as short
Aster HYPEUSDT	−0.0005%	4h	92.324	+0.015%	$8.7M	$36.2M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.417	+0.116%	$127K	$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	92.413	+0.111%	$23K	$309K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.436	+0.137%	$61K	—	150x	as long as short
Derive HYPE-PERP	+0.0020%	1h	92.367	+0.062%	$16.0M	$7.5M	10x	as long as short
BingX HYPE-USDT	+0.0032%	4h	92.335	+0.027%	—	$53.2M	—	as long as short
Bybit HYPEUSDTlong	+0.0037%	8h	92.310	long leg	$316.7M	$279.5M	75x
Phemex HYPEUSDT	+0.0038%	8h	92.433	+0.133%	$12.5M	$2.7M	50x	as long as short
Phoenix HYPE	+0.0043%	1h	92.430	+0.130%	$210K	$1.2M	10x	as long as short
Gate HYPE_USDT	+0.0048%	4h	92.330	+0.022%	$44.3M	$54.6M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0075%	8h	92.320	+0.011%	$112.8M	$300.2M	50x	as long as short
MEXC HYPE_USDT	+0.0078%	4h	92.334	+0.026%	$87.4M	$80.2M	100x	as long as short
Binance HYPEUSDT	+0.0079%	4h	92.328	+0.019%	$371.2M	$893.5M	75x	as long as short
Popdex HYPEUSDT	+0.0080%	1h	92.347	+0.040%	$67K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0092%	8h	92.363	+0.057%	$337K	$162K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.355	+0.049%	$16.0M	$62.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.362	+0.056%	$3.1M	$11.6M	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	92.320	+0.011%	$13K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.302	−0.008%	$5.8M	$43.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.391	+0.088%	$2.01B	$660.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.375	+0.070%	$10.0M	$15.0M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.800	+0.531%	$202K	$13K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.332	+0.024%	$45.7M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.310	0.000%	$223.4M	$97.7M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.370	+0.065%	$7.4M	$10.0M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.469	+0.172%	$28.5M	$57.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.799	+0.530%	$7.5M	$45.8M	10x	as long as short
ApeX Omni HYPEUSDTshort	+0.0100%	1h	92.488	+0.193%	$338K	$1.0M	50x
StandX HYPE-USD	+0.0100%	1h	92.443	+0.144%	$663K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.383	+0.079%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.356	+0.050%	$466K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.463	+0.166%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.406	+0.104%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.600	+0.314%	$1.4M	$6.2M	75x	as long as short
edgeX HYPEUSDC	+0.0103%	4h	92.776	+0.505%	$5.1M	$29.2M	30x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.290	−0.022%	$18.1M	$43.4M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.434	+0.134%	$391K	$164K	20x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	92.430	+0.130%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.480	+0.184%	$4.7M	$5.5M	50x	as long as short
Reya HYPERUSDPERP	+0.0260%	1h	92.299	−0.012%	$78K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0262%	8h	92.513	+0.220%	$1.8M	$5.4M	2.3x	as long as short
BloFin HYPE-USDT	+0.0317%	4h	92.544	+0.253%	$16.8M	$11.5M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0329% / S −0.0153%	1h	92.424	+0.124%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0333%	1h	92.439	+0.140%	$20.5M	$30.4M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0464%	1h	92.500	+0.206%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.395	+0.092%	$3.1M	$6.4M	20x	as long as short
Bluefin HYPE-PERP	+0.1078%	1h	92.386	+0.082%	$78K	$169K	20x	as long as short