Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.007%

Price spread now: ApeX Omni against MEXC+0.049%7-day average −0.018% · 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−$19as in the Price arb table

costs, in and out, $10k−$260.259% of the position

Long on MEXC Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.015%+$1 on $10k

Price spread, last 7 days−0.102%−$10 · spread now +0.049%, 7d avg −0.018%

Together, before fees−0.087%−$9 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 0.067% dearer against MEXC than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC HYPE_USDT	94.115	0.0100	pay 0.0050% / 4h	2h 15m	$90.4M	$81.8M	100x
Short	ApeX Omni HYPEUSDT	94.161	0.0100	get 0.0013% / 1h	15m 30s	$345K	$994K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against MEXC. 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 MEXCbpFee ApeX OmnibpOrdersPrice spread, now +0.049%Rate

Funding earned: $0
Price spread: +0.049% → −0.018%: $6.73
Slippage, 4 orders: −$11.93
Fee MEXC: 2 bp × 2 orders: −$4
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$19.2
Costs to cover: 0.259%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 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 MEXC live order book, 4 min ago	0.05 bp	2.1 bp −$2	5.0 bp −$50	11.8 bp −$1,180	39.9 bp −$19.9K
Sell ApeX Omni live order book, 3 min ago	5.85 bp	11.0 bp −$11	13.9 bp −$139	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	−0.1328%	1h	94.084	−0.033%	$199K	$239K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0396%	1h	93.861	−0.270%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.117	+0.002%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0021%	1h	94.103	−0.013%	$112K	$580K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0017%	4h	94.069	−0.049%	$147K	$678K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.106	−0.010%	$129K	$29K	5x	as long as short
01 Exchange HYPEUSD	0.0000%	1h	94.126	+0.012%	$86K	$372K	20x	as long as short
Perpl HYPE	0.0000%	43m	94.112	−0.004%	$23K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	94.110	−0.005%	$63K	—	150x	as long as short
Arcus HYPE-USD	+0.0011%	1h	94.055	−0.064%	$1.0M	$3.9M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget HYPEUSDT	+0.0018%	4h	94.097	−0.019%	$226.9M	$99.3M	75x	as long as short
Bybit HYPEUSDT	+0.0022%	8h	94.070	−0.048%	$319.1M	$284.0M	75x	as long as short
Phemex HYPEUSDT	+0.0024%	8h	94.153	+0.040%	$12.8M	$2.8M	50x	as long as short
Phoenix HYPE	+0.0026%	1h	94.174	+0.063%	$209K	$1.2M	10x	as long as short
Ondo Perps HYPE-USD.P	+0.0068%	1h	94.080	−0.037%	$709K	$1.2M	10x	as long as short
edgeX HYPEUSDC	+0.0094%	4h	94.117	+0.002%	$5.0M	$30.2M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	94.142	+0.029%	$342K	$158K	20x	as long as short
Lighter HYPE	+0.0096%	1h	94.127	+0.013%	$16.3M	$63.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.128	+0.014%	$3.1M	$11.5M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.108	−0.007%	$71K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.050	−0.069%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.059	−0.059%	$7.3M	$48.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.191	+0.081%	$2.06B	$675.2M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.102	−0.014%	$8.8M	$36.5M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.141	+0.028%	$10.1M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.101	−0.015%	$377.8M	$919.7M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	94.090	−0.027%	$116.2M	$314.9M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.358	−0.804%	$216K	$15K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.093	−0.023%	$48.0M	$55.2M	75x	as long as short
MEXC HYPE_USDTlong	+0.0100%	4h	94.115	long leg	$90.4M	$81.8M	100x
KuCoin HYPEUSDTM	+0.0100%	4h	94.111	−0.004%	$46.5M	$18.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.097	−0.019%	—	$53.6M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.162	+0.050%	$7.2M	$10.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.099	−0.016%	$28.9M	$56.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.979	−0.145%	$7.7M	$48.0M	10x	as long as short
ApeX Omni HYPEUSDTshort	+0.0100%	1h	94.161	+0.049%	$345K	$994K	50x
StandX HYPE-USD	+0.0100%	1h	94.161	+0.049%	$674K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.171	+0.060%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.103	−0.013%	$494K	$2.7M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	94.107	−0.009%	$80K	$165K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	94.114	−0.001%	$16.2M	$7.4M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.216	+0.107%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.128	+0.014%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.282	+0.177%	$1.4M	$6.5M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.060	−0.058%	$18.3M	$43.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.137	+0.023%	$398K	$159K	20x	as long as short
Kalshi KXHYPEPERP	+0.0122%	8h	94.194	+0.084%	$1.8M	$5.6M	2.3x	as long as short
Injective HYPE/USDC PERP	+0.0122%	1h	94.310	+0.207%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	94.150	+0.037%	$4.7M	$6.0M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0207%	1h	94.198	+0.088%	$7.5M	$4.1M	50x	as long as short
Reya HYPERUSDPERP	+0.0270%	1h	94.103	−0.012%	$80K	$127K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0333% / S −0.0154%	1h	94.106	−0.009%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0338%	1h	94.206	+0.096%	$21.0M	$29.6M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.137	+0.023%	$16.8M	$12.1M	75x	as long as short
RISEx HYPE/USDC	+0.0527%	1h	94.149	+0.036%	$3.2M	$6.3M	20x	as long as short