Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0015%/8h= −1.6% APRpaid last 24h +0.002%

Price spread now: ApeX Omni against edgeX+0.043%7-day average −0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$270.275% of the position

Long on edgeX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.003%$0 on $10k

Price spread, last 3 days (all we have)−0.064%−$6 · spread now +0.043%, 7d avg −0.002%

Together, before fees−0.068%+ Points / potential airdropedgeX: Active · farm board−$7 on $10k · with fees, hour by hour

The price spread pays, funding is against you. ApeX Omni is 0.045% dearer against edgeX than usual: you sell high and buy low (spread +0.043% now, against its 7-day average of −0.002%): +$5 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 10 days. At the pace of the last 7 days (−0.003% in total) that is about 3 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX HYPEUSDC	93.532	0.0115	pay 0.0057% / 4h	2h 30m	$5.1M	$29.6M	30x
Short	ApeX Omni HYPEUSDT	93.572	0.0100	get 0.0013% / 1h	30m 31s	$406K	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against edgeX. 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 edgeXbpFee ApeX OmnibpOrdersPrice spread, now +0.043%Rate

Funding earned: −$3.1
Price spread: +0.043% → −0.002%: $4.51
Slippage, 4 orders: −$8.48
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$26.07
Costs to cover: 0.275%
Break-even: never at this rate

Slippage from edgeX: live order book, 4 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 edgeX live order book, 4 min ago	0.32 bp	4.8 bp −$5	5.0 bp −$50	127.8 bp −$12.8K	doesn't fit
Sell ApeX Omni live order book, 4 min ago	3.26 bp	9.6 bp −$10	13.0 bp −$130	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	−0.1064%	1h	93.496	−0.038%	$197K	$233K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0275%	1h	93.536	+0.005%	$22K	$22K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0242%	1h	93.480	−0.055%	$701K	$941K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.559	+0.029%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0072%	1h	93.583	+0.055%	$89K	$347K	20x	as long as short
Bullet HYPE-USD	−0.0028%	1h	93.511	−0.022%	$112K	$583K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.563	+0.034%	$127K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.566	+0.037%	$23K	$337K	10x	as long as short
Derive HYPE-PERP	+0.0001%	1h	93.516	−0.017%	$16.4M	$7.1M	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.551	+0.020%	$20K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0020%	4h	93.567	+0.038%	$9.0M	$35.8M	300x	as long as short
Gate HYPE_USDT	+0.0028%	4h	93.554	+0.024%	$44.1M	$56.6M	75x	as long as short
Bybit HYPEUSDT	+0.0037%	8h	93.550	+0.020%	$325.9M	$287.1M	75x	as long as short
Phoenix HYPE	+0.0068%	1h	93.549	+0.019%	$216K	$1.2M	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0069%	4h	93.564	+0.035%	$176K	$538K	20x	as long as short
Popdex HYPEUSDT	+0.0072%	1h	93.547	+0.016%	$57K	$1.2M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.605	+0.078%	$18.6M	$59.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.588	+0.060%	$3.1M	$12.3M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0100%	8h	93.581	+0.052%	$340K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.570	+0.041%	$40K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.546	+0.016%	$6.0M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.650	+0.127%	$2.04B	$669.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.575	+0.046%	$10.0M	$14.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.520	−0.012%	$385.9M	$887.4M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.546	+0.015%	$114.9M	$315.3M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.538	+0.007%	$1.2M	$4.0M	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.540	+0.009%	$93.6M	$82.2M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.573	+0.044%	$46.4M	$18.8M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.574	+0.045%	$227.3M	$102.2M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.510	−0.023%	—	$54.2M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.587	+0.059%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.402	−0.139%	$28.9M	$49.8M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.500	−0.034%	$7.5M	$45.1M	10x	as long as short
ApeX Omni HYPEUSDTshort	+0.0100%	1h	93.572	+0.043%	$406K	$1.0M	50x
StandX HYPE-USD	+0.0100%	1h	93.599	+0.072%	$677K	$2.4M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.600	+0.073%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.594	+0.067%	$494K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.573	+0.044%	$76K	$167K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.594	+0.067%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.549	+0.019%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.554	+0.024%	$12.7M	$2.6M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.556	+0.026%	$204K	$12K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.538	+0.007%	$18.4M	$41.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.582	+0.054%	$398K	$318K	20x	as long as short
edgeX HYPEUSDClong	+0.0115%	4h	93.532	long leg	$5.1M	$29.6M	30x
Kalshi KXHYPEPERP	+0.0125%	8h	93.638	+0.114%	$1.9M	$5.3M	2.3x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0135%	1h	93.651	+0.128%	$7.4M	$4.6M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.600	+0.073%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0245%	1h	93.547	+0.016%	$78K	$158K	15x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.490	−0.045%	$30K	$231K	12x	as long as short
HTX HYPE-USDT	+0.0335%	4h	93.730	+0.212%	$1.5M	$7.6M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0164%	1h	93.600	+0.073%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.545	+0.014%	$17.1M	$12.5M	75x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.615	+0.089%	$2.7M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0572%	1h	93.661	+0.138%	$19.2M	$26.0M	50x	as long as short