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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 00:00 UTC+0.0233%/8h= +25.5% APRnext payment +$0.29 per $10,000 · paid last 24h +0.022%
Price spread now: ApeX Omni against Ondo Perps−0.120%112s7-day average +0.085% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on Ondo PerpsShort on ApeX Omni
What this pair did over the last
the charts below follow
Funding, last 7 days+0.125%+$13 on $10k
Price spread, last 3 days (all we have)+0.309%+$31 · spread now −0.120%, 7d avg +0.085%
Together, before fees+0.434%+ Points / potential airdropOndo Perps: Active · farm board+$43 on $10k · with fees, hour by hour
Funding pays, the price is against you. ApeX Omni is 0.206% cheaper against Ondo Perps than usual: you would sell low and buy high (spread −0.120% now, against its 7-day average of +0.085%). If the spread goes back, that is −$21 on $10k: about 2.9 days of funding at the current rate (+$7 a day). At the pace of the last 7 days (+0.125% in total) that is about 12 days. The two prices were read 112 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.125% in total (about 6.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.29 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOndo Perps HYPE-USD.P93.930−0.0133get 0.0017% / 1h1m 39s$705K$925K10x
ShortApeX Omni HYPEUSDT93.8170.0100get 0.0013% / 1h1m 39s$340K$1.1M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

ApeX Omni against Ondo Perps. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$48.89
Price spread: −0.120% → +0.085%
−$20.57
Slippage, 4 orders
no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders
−$5
Fee ApeX Omni: 5 bp × 2 orders
−$10
Net
$13.32
Costs to cover
0.150%
Break-even
5.1 days
Slippage unknown: Ondo Perps: no order-book sample; ApeX Omni: live order book, 2 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Ondo Perps no order-book sample—————
Sell ApeX Omni live order book, 2 min ago2.87 bp9.3 bp −$912.3 bp −$123doesn't fitdoesn't fit
Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

HYPE on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-P−0.1376%1h93.897−0.036%$199K$230K7xas long as short
Aftermath Perps HYPEUSD−0.0346%1h93.948+0.020%$22K$22K10xas long as short
Arcus HYPE-USD−0.0233%1h93.874−0.060%$1.2M$3.8M10xas long as short
Ondo Perps HYPE-USD.Plong−0.0133%1h93.930long leg$705K$925K10x
01 Exchange HYPEUSD−0.0080%1h93.924−0.006%$86K$368K20xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.931+0.001%$3K$33125xas long as short
Derive HYPE-PERP−0.0012%1h93.900−0.032%$16.4M$7.2M10xas long as short
dYdX HYPE-USD−0.0007%1h93.976+0.049%$128K$30K5xas long as short
Orderly PERP_HYPE_USDC−0.0006%4h93.984+0.057%$169K$594K20xas long as short
Perpl HYPE0.0000%43m93.978+0.052%$23K$329K10xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0003%1h93.990+0.064%$27K—150xas long as short
Phoenix HYPE+0.0009%1h93.898−0.034%$217K$1.2M10xas long as short
Aster HYPEUSDT+0.0015%4h93.983+0.056%$8.9M$36.1M300xas long as short
Bybit HYPEUSDT+0.0018%8h93.990+0.064%$323.5M$283.9M75xas long as short
Phemex HYPEUSDT+0.0030%8h93.928−0.002%$12.8M$2.6M50xas long as short
Binance HYPEUSDT+0.0046%4h93.988+0.062%$384.1M$898.7M75xas long as short
MEXC HYPE_USDT+0.0046%4h93.988+0.062%$88.4M$82.3M100xas long as short
edgeX HYPEUSDC+0.0064%4h93.859−0.075%$5.1M$29.7M30xas long as short
Popdex HYPEUSDT+0.0064%1h93.9300.000%$60K$1.2M50xas long as short
Gate HYPE_USDT+0.0068%4h93.993+0.067%$44.2M$60.1M75xas long as short
Bullet HYPE-USD+0.0073%1h93.939+0.010%$112K$578K20xas long as short
OKX HYPE-USDT-SWAP+0.0088%8h93.983+0.056%$116.0M$322.9M50xas long as short
Lighter HYPE+0.0096%1h94.036+0.113%$18.9M$60.5M20xas long as short
Lighter RH HYPE+0.0096%1h94.015+0.090%$3.1M$12.3M20xas long as short
Aevo HYPE-PERP+0.0096%1h93.967+0.039%$400K$318K20xas long as short
Katana Perps HYPE-USD+0.0099%8h94.040+0.117%$42K$1.6M10xas long as short
Paradex HYPE-USD-PERP+0.0099%8h94.030+0.107%$342K$171K20xas long as short
Nado HYPE-PERP+0.0100%1h93.941+0.012%$6.6M$44.9M10xas long as short
Hyperliquid HYPE+0.0100%1h94.084+0.164%$2.05B$680.1M10xas long as short
Pacifica HYPE+0.0100%1h94.017+0.093%$10.1M$14.5M20xas long as short
Bulk HYPE-USD+0.0100%1h93.889−0.044%$205K$7K10xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.991+0.065%$46.5M$18.6M75xas long as short
Bitget HYPEUSDT+0.0100%4h94.003+0.078%$227.7M$102.0M75xas long as short
BingX HYPE-USDT+0.0100%4h93.980+0.053%—$54.0M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h94.001+0.076%$7.9M$10.4M20xas long as short
Variational Omni HYPE+0.0100%8h93.812−0.125%$31.3M$54.2M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.864−0.071%$7.6M$45.5M10xas long as short
ApeX Omni HYPEUSDTshort+0.0100%1h93.817−0.120%$340K$1.1M50x
StandX HYPE-USD+0.0100%1h94.046+0.123%$680K$2.5M20xas long as short
Vest HYPE-PERP+0.0100%1h94.005+0.080%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.996+0.070%$472K$2.5M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.963+0.035%$76K$171K20xas long as short
SunX HYPE-USDT+0.0100%4h93.973+0.046%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.967+0.039%$2.0M$2.0M10xas long as short
Injective HYPE/USDC PERP+0.0104%1h94.410+0.511%$31K$338K12xas long as short
Extended HYPE-USD+0.0104%1h93.976+0.049%$18.4M$42.8M50xas long as short
Coinbase International HYPE-PERP-INTX+0.0152%1h94.070+0.149%$4.9M$5.7M50xas long as short
Kalshi KXHYPEPERP+0.0157%8h94.054+0.132%$1.9M$5.1M2.3xas long as short
BloFin HYPE-USDT+0.0185%4h93.999+0.073%$17.0M$12.6M75xas long as short
HTX HYPE-USDT+0.0194%4h94.100+0.181%$1.5M$7.8M75xas long as short
Reya HYPERUSDPERP+0.0250%1h93.966+0.038%$77K$142K15xas long as short
RISEx HYPE/USDC+0.0284%1h94.041+0.119%$2.8M$6.9M20xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0324%1h94.067+0.146%$7.5M$4.6M50xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0338% / S −0.0156%1h93.993+0.067%$1.5M—100xas long as short
Kraken Futures PF_HYPEUSD+0.0577%1h94.082+0.162%$21.0M$29.5M50xas long as short