Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.042%

Price spread now: ApeX Omni against HTX−0.172%7-day average −0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$360.361% of the position

Long on HTX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.045%−$5 on $10k

Price spread, last 4 days (all we have)+0.313%+$31 · spread now −0.172%, 7d avg −0.051%

Together, before fees+0.268%+$27 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: ApeX Omni is 0.121% cheaper against HTX than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of −0.051%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX HYPE-USDT	93.016	0.0100	pay 0.0050% / 4h	0m 47s	$1.4M	$6.3M	75x
Short	ApeX Omni HYPEUSDT	92.856	0.0100	get 0.0013% / 1h	0m 47s	$350K	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against HTX. 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 HTXbpFee ApeX OmnibpOrdersPrice spread, now −0.172%Rate

Funding earned: $0
Price spread: −0.172% → −0.051%: −$12.1
Slippage, 4 orders: −$14.06
Fee HTX: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$48.17
Costs to cover: 0.361%
Break-even: never at this rate

Slippage from HTX: live order book, 3 min ago; ApeX Omni: live order book, 3 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 HTX live order book, 3 min ago	0.11 bp	10.5 bp −$10	17.9 bp −$179	50.5 bp −$5,054	doesn't fit
Sell ApeX Omni live order book, 3 min ago	2.05 bp	7.6 bp −$8	11.0 bp −$110	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	92.859	−0.169%	$1.1M	$3.9M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0424%	1h	92.753	−0.283%	$194K	$225K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0277%	1h	92.822	−0.209%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.875	−0.152%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0063%	4h	92.856	−0.172%	$157K	$653K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.865	−0.162%	$127K	$29K	5x	as long as short
01 Exchange HYPEUSD	0.0000%	1h	92.919	−0.104%	$86K	$361K	20x	as long as short
Perpl HYPE	0.0000%	43m	92.890	−0.135%	$22K	$302K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.898	−0.127%	$62K	—	150x	as long as short
Phemex HYPEUSDT	+0.0026%	8h	92.875	−0.152%	$12.5M	$2.7M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet HYPE-USD	+0.0031%	1h	92.850	−0.178%	$111K	$579K	20x	as long as short
BingX HYPE-USDT	+0.0036%	4h	92.859	−0.169%	—	$53.5M	—	as long as short
Ondo Perps HYPE-USD.P	+0.0042%	1h	92.810	−0.221%	$698K	$1.1M	10x	as long as short
Phoenix HYPE	+0.0043%	1h	92.755	−0.281%	$210K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0045%	8h	92.860	−0.168%	$316.7M	$281.2M	75x	as long as short
Aster HYPEUSDT	+0.0068%	4h	92.897	−0.128%	$8.7M	$36.1M	300x	as long as short
Bitget HYPEUSDT	+0.0088%	4h	92.883	−0.143%	$224.8M	$98.7M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	92.901	−0.124%	$339K	$163K	20x	as long as short
edgeX HYPEUSDC	+0.0095%	4h	92.845	−0.184%	$4.9M	$29.6M	30x	as long as short
Lighter HYPE	+0.0096%	1h	92.891	−0.134%	$16.1M	$62.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.901	−0.124%	$3.1M	$11.8M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.903	−0.121%	$69K	$1.1M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0098%	8h	92.865	−0.162%	$113.9M	$303.6M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.880	−0.146%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.864	−0.163%	$7.4M	$45.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.904	−0.120%	$2.02B	$663.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.910	−0.114%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.885	−0.141%	$373.2M	$902.0M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.800	−0.232%	$202K	$13K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	92.872	−0.155%	$44.5M	$55.5M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.888	−0.138%	$88.3M	$81.2M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.880	−0.146%	$46.1M	$18.4M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.893	−0.132%	$7.3M	$11.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.859	−0.169%	$28.5M	$57.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.903	−0.121%	$7.5M	$46.3M	10x	as long as short
ApeX Omni HYPEUSDTshort	+0.0100%	1h	92.856	−0.172%	$350K	$1.0M	50x
StandX HYPE-USD	+0.0100%	1h	92.868	−0.159%	$667K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.919	−0.104%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.916	−0.108%	$469K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.871	−0.156%	$79K	$168K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.842	−0.187%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.882	−0.144%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.893	−0.132%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDTlong	+0.0100%	4h	93.016	long leg	$1.4M	$6.3M	75x
Extended HYPE-USD	+0.0104%	1h	92.855	−0.173%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.863	−0.165%	$393K	$164K	20x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	92.960	−0.060%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.950	−0.071%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0225%	8h	92.939	−0.083%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0263%	1h	92.874	−0.153%	$79K	$131K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0310%	1h	92.965	−0.055%	$7.5M	$4.5M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.867	−0.161%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0331%	1h	92.937	−0.085%	$20.6M	$30.4M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.879	−0.147%	$16.8M	$11.6M	75x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.962	−0.058%	$3.2M	$6.4M	20x	as long as short