Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.006%

Price spread now: ApeX Omni against KuCoin+0.119%82s7-day average −0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as 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−$400.405% of the position

Long on KuCoin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.004%$0 on $10k

Price spread, last 7 days−0.138%−$14 · spread now +0.119%, 7d avg −0.012%

Together, before fees−0.134%−$13 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 0.131% dearer against KuCoin than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of −0.012%. The two prices were read 82 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin HYPEUSDTM	95.033	0.0100	pay 0.0050% / 4h	3h 02m	$47.4M	$18.3M	75x
Short	ApeX Omni HYPEUSDT	95.146	0.0100	get 0.0013% / 1h	2m 07s	$349K	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against KuCoin. 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 KuCoinbpFee ApeX OmnibpOrdersPrice spread, now +0.119%Rate

Funding earned: $0
Price spread: +0.119% → −0.012%: $13.05
Slippage, 4 orders: −$18.48
Fee KuCoin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$27.43
Costs to cover: 0.405%
Break-even: never at this rate

Slippage from KuCoin: live order book, 7 min ago; ApeX Omni: live order book, 2 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 KuCoin live order book, 7 min ago	0.52 bp	10.7 bp −$11	14.8 bp −$148	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 2 min ago	2.89 bp	9.4 bp −$9	12.9 bp −$129	doesn't fit	doesn't fit

HYPE on 54 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	−0.1008%	1h	95.068	+0.037%	$212K	$265K	7x	as long as short
Bluefin HYPE-PERP	−0.0547%	1h	95.019	−0.015%	$79K	$149K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0221%	1h	95.216	+0.193%	$22K	$19K	10x	as long as short
Phemex HYPEUSDT	−0.0214%	8h	95.074	+0.043%	$13.0M	$2.8M	50x	as long as short
Bullet HYPE-USD	−0.0211%	1h	95.037	+0.005%	$112K	$580K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0149%	1h	95.010	−0.024%	$696K	$1.3M	10x	as long as short
01 Exchange HYPEUSD	−0.0120%	1h	95.057	+0.025%	$91K	$357K	20x	as long as short
Arcus HYPE-USD	−0.0112%	1h	95.060	+0.028%	$1.0M	$3.1M	10x	as long as short
dYdX HYPE-USD	−0.0101%	1h	95.179	+0.154%	$131K	$93K	5x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	95.131	+0.103%	$3K	$331	25x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate HYPE_USDT	−0.0070%	4h	95.017	−0.017%	$53.1M	$57.1M	75x	as long as short
Kraken Futures PF_HYPEUSD	−0.0047%	1h	95.038	+0.005%	$18.8M	$35.7M	50x	as long as short
Vest HYPE-PERP	−0.0026%	1h	95.136	+0.109%	—	$97K	5x	as long as short
Bybit HYPEUSDT	−0.0011%	8h	95.040	+0.007%	$319.6M	$283.1M	75x	as long as short
Orderly PERP_HYPE_USDC	−0.0006%	4h	95.013	−0.021%	$148K	$670K	20x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	95.102	+0.073%	$1.8M	$5.3M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	95.051	+0.019%	$19K	$272K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	95.062	+0.031%	$86K	—	150x	as long as short
BingX HYPE-USDT	+0.0004%	4h	95.046	+0.014%	—	$50.4M	—	as long as short
Phoenix HYPE	+0.0008%	1h	95.295	+0.276%	$204K	$1.2M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0016%	1h	95.060	+0.028%	$4.7M	$5.7M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0030%	8h	95.050	+0.018%	$118.6M	$321.6M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0045%	8h	95.133	+0.105%	$340K	$38K	20x	as long as short
Bitget HYPEUSDT	+0.0048%	4h	95.034	+0.001%	$228.3M	$93.4M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0054%	1h	95.002	−0.033%	$7.4M	$10.2M	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0065%	1h	95.123	+0.095%	$7.5M	$4.4M	50x	as long as short
SoDEX HYPE-USD	+0.0075%	1h	95.033	0.000%	$2.1M	$1.6M	10x	as long as short
Aster HYPEUSDT	+0.0080%	4h	95.023	−0.011%	$9.0M	$36.4M	300x	as long as short
edgeX HYPEUSDC	+0.0096%	4h	95.176	+0.150%	$5.1M	$31.1M	30x	as long as short
Lighter HYPE	+0.0096%	1h	95.033	0.000%	$16.2M	$64.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	95.046	+0.014%	$3.2M	$10.4M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	95.052	+0.020%	$266K	$1.3M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	95.080	+0.049%	$40K	$1.5M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	95.085	+0.055%	$7.3M	$55.5M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	95.171	+0.145%	$2.10B	$673.7M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	95.138	+0.110%	$10.3M	$14.1M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	95.029	−0.004%	$382.4M	$910.0M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	95.176	+0.150%	$222K	$14K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	95.033	0.000%	$87.1M	$90.1M	100x	as long as short
KuCoin HYPEUSDTMlong	+0.0100%	4h	95.033	long leg	$47.4M	$18.3M	75x
Variational Omni HYPE	+0.0100%	8h	95.229	+0.207%	$29.9M	$55.8M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	95.148	+0.121%	$7.7M	$43.4M	10x	as long as short
ApeX Omni HYPEUSDTshort	+0.0100%	1h	95.146	+0.119%	$349K	$1.0M	50x
StandX HYPE-USD	+0.0100%	1h	95.160	+0.134%	$692K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	95.076	+0.045%	$499K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.906	−0.134%	$32K	$1.5M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.180	+0.155%	$1.4M	$6.7M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	95.009	−0.025%	$18.2M	$42.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	95.080	+0.050%	$402K	$136K	20x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	95.210	+0.187%	$3.2M	$6.2M	20x	as long as short
Injective HYPE/USDC PERP	+0.0153%	1h	95.120	+0.092%	$31K	$340K	12x	as long as short
Reya HYPERUSDPERP	+0.0271%	1h	95.018	−0.016%	$85K	$92K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0155%	1h	95.102	+0.072%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	95.141	+0.114%	$17.2M	$12.3M	75x	as long as short