Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.054%

Price spread now: ApeX Omni against Hyperliquid−0.045%85s7-day average −0.043% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$290.291% of the position

Long on Hyperliquid Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.061%−$6 on $10k

Price spread, last 3 days (all we have)+0.251%+$25 · spread now −0.045%, 7d avg −0.043%

Together, before fees+0.190%+ Points / potential airdropHyperliquid: Season 2 · farm board+$19 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid HYPE	93.470	0.0100	pay 0.0013% / 1h	40m 13s	$2.03B	$670.1M	10x
Short	ApeX Omni HYPEUSDT	93.428	0.0100	get 0.0013% / 1h	40m 13s	$406K	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Hyperliquid. 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 HyperliquidbpFee ApeX OmnibpOrdersPrice spread, now −0.045%Rate

Funding earned: $0
Price spread: −0.045% → −0.043%: −$0.17
Slippage, 4 orders: −$10.1
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$29.27
Costs to cover: 0.291%
Break-even: never at this rate

Slippage from Hyperliquid: 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 Hyperliquid live order book, 4 min ago	0.05 bp	5.3 bp −$5	6.5 bp −$65	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 4 min ago	3.11 bp	10.0 bp −$10	14.7 bp −$147	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	−0.1200%	1h	93.360	−0.117%	$197K	$233K	7x	as long as short
Ondo Perps HYPE-USD.P	−0.0250%	1h	93.330	−0.150%	$700K	$943K	10x	as long as short
Aftermath Perps HYPEUSD	−0.0217%	1h	93.397	−0.078%	$22K	$22K	10x	as long as short
01 Exchange HYPEUSD	−0.0088%	1h	93.425	−0.048%	$89K	$345K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.404	−0.071%	$3K	$331	25x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.398	−0.077%	$127K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.404	−0.071%	$23K	$343K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.438	−0.035%	$20K	—	150x	as long as short
Derive HYPE-PERP	+0.0003%	1h	93.363	−0.115%	$16.4M	$7.1M	10x	as long as short
Aster HYPEUSDT	+0.0011%	4h	93.403	−0.072%	$8.9M	$35.9M	300x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate HYPE_USDT	+0.0014%	4h	93.410	−0.064%	$44.1M	$56.5M	75x	as long as short
Bullet HYPE-USD	+0.0026%	1h	93.400	−0.075%	$112K	$582K	20x	as long as short
Bybit HYPEUSDT	+0.0037%	8h	93.400	−0.075%	$325.4M	$287.8M	75x	as long as short
Phoenix HYPE	+0.0068%	1h	93.527	+0.061%	$216K	$1.2M	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0073%	4h	93.412	−0.062%	$180K	$529K	20x	as long as short
Popdex HYPEUSDT	+0.0088%	1h	93.406	−0.068%	$56K	$1.2M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.461	−0.009%	$18.5M	$59.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.434	−0.039%	$3.1M	$12.3M	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.450	−0.021%	$40K	$1.7M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0100%	8h	93.449	−0.022%	$339K	$171K	20x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.406	−0.069%	$6.0M	$44.2M	10x	as long as short
Hyperliquid HYPElong	+0.0100%	1h	93.470	long leg	$2.03B	$670.1M	10x
Pacifica HYPE	+0.0100%	1h	93.430	−0.043%	$10.0M	$14.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.414	−0.060%	$385.6M	$888.4M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.390	−0.086%	$114.8M	$315.4M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.389	−0.087%	$1.2M	$4.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.403	−0.072%	$204K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.410	−0.064%	$92.7M	$82.0M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.427	−0.046%	$46.3M	$19.1M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.428	−0.045%	$226.8M	$102.1M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.401	−0.074%	—	$54.2M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.442	−0.030%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.375	−0.101%	$28.9M	$49.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.413	−0.061%	$7.5M	$45.1M	10x	as long as short
ApeX Omni HYPEUSDTshort	+0.0100%	1h	93.428	−0.045%	$406K	$1.0M	50x
StandX HYPE-USD	+0.0100%	1h	93.428	−0.045%	$675K	$2.4M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.446	−0.026%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.446	−0.026%	$493K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.410	−0.064%	$76K	$169K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.447	−0.025%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.389	−0.087%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.397	−0.078%	$12.7M	$2.6M	50x	as long as short
Kalshi KXHYPEPERP	+0.0103%	8h	93.527	+0.061%	$1.9M	$5.4M	2.3x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.380	−0.097%	$18.4M	$41.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.371	−0.106%	$397K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0117%	4h	93.402	−0.072%	$5.1M	$29.6M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.510	+0.043%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0245%	1h	93.417	−0.057%	$78K	$158K	15x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.270	−0.214%	$30K	$231K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0296%	1h	93.507	+0.040%	$7.4M	$4.6M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0164%	1h	93.453	−0.019%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.348	−0.131%	$17.1M	$12.5M	75x	as long as short
HTX HYPE-USDT	+0.0353%	4h	93.575	+0.112%	$1.5M	$7.6M	75x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.477	+0.007%	$2.7M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0573%	1h	93.490	+0.021%	$19.2M	$25.9M	50x	as long as short