Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0001%/8h= +0.1% APRpaid last 24h −0.005%

Price spread now: ApeX Omni against Paradex+0.019%50s7-day average −0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$220.219% of the position

Long on Paradex Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.002%$0 on $10k

Price spread, last 3 days (all we have)−0.015%−$2 · spread now +0.019%, 7d avg −0.017%

Together, before fees−0.017%+ Points / potential airdropParadex: Active · farm board−$2 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 0.036% dearer against Paradex than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.017%. The two prices were read 50 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	Paradex HYPE-USD-PERP	93.928	0.0099	pay 0.0099% / 8h	7h 08m	$341K	$165K	20x
Short	ApeX Omni HYPEUSDT	93.946	0.0100	get 0.0013% / 1h	8m 19s	$340K	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Paradex. 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 ParadexbpFee ApeX OmnibpOrdersPrice spread, now +0.019%Rate

Funding earned: $0.24
Price spread: +0.019% → −0.017%: $3.59
Slippage, 4 orders: −$7.86
Fee Paradex: 2 bp × 2 orders: −$4
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$18.02
Costs to cover: 0.219%
Break-even: 532.3 days

Slippage from Paradex: live order book, 1 min ago; ApeX Omni: live order book, 6 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 Paradex live order book, 1 min ago	1.44 bp	3.4 bp −$3	9.8 bp −$98	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 6 min ago	1.86 bp	6.9 bp −$7	10.6 bp −$106	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	−0.1152%	1h	93.929	0.000%	$199K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0625%	1h	93.778	−0.160%	$1.2M	$3.9M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0208%	1h	93.964	+0.037%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0099%	1h	93.860	−0.073%	$710K	$958K	10x	as long as short
Phemex HYPEUSDT	−0.0095%	8h	93.940	+0.012%	$12.8M	$2.6M	50x	as long as short
dYdX HYPE-USD	−0.0087%	1h	93.911	−0.018%	$129K	$31K	5x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	93.900	−0.030%	$86K	$359K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.953	+0.026%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0047%	1h	93.896	−0.034%	$113K	$580K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0031%	4h	93.868	−0.064%	$159K	$643K	20x	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	−0.0020%	4h	93.888	−0.043%	$44.4M	$60.3M	75x	as long as short
Perpl HYPE	0.0000%	43m	93.935	+0.007%	$23K	$327K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.921	−0.008%	$27K	—	150x	as long as short
Aster HYPEUSDT	+0.0012%	4h	93.877	−0.055%	$8.9M	$36.0M	300x	as long as short
Derive HYPE-PERP	+0.0015%	1h	93.844	−0.090%	$16.4M	$7.6M	10x	as long as short
Bybit HYPEUSDT	+0.0016%	8h	93.891	−0.040%	$323.2M	$279.6M	75x	as long as short
Phoenix HYPE	+0.0034%	1h	94.071	+0.152%	$218K	$1.2M	10x	as long as short
MEXC HYPE_USDT	+0.0052%	4h	93.918	−0.011%	$88.4M	$83.3M	100x	as long as short
Binance HYPEUSDT	+0.0056%	4h	93.896	−0.034%	$383.3M	$893.9M	75x	as long as short
edgeX HYPEUSDC	+0.0065%	4h	93.937	+0.009%	$5.1M	$29.6M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0073%	8h	93.901	−0.029%	$116.1M	$315.0M	50x	as long as short
Bluefin HYPE-PERP	+0.0095%	1h	93.845	−0.089%	$76K	$170K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.924	−0.004%	$18.9M	$60.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.905	−0.025%	$3.0M	$12.2M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.896	−0.034%	$64K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.874	−0.058%	$399K	$180K	20x	as long as short
Paradex HYPE-USD-PERPlong	+0.0099%	8h	93.928	long leg	$341K	$165K	20x
Katana Perps HYPE-USD	+0.0100%	8h	93.890	−0.041%	$31K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.891	−0.040%	$6.6M	$44.6M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.967	+0.041%	$2.05B	$668.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.912	−0.017%	$10.1M	$14.7M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.528	−0.426%	$204K	$12K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.904	−0.026%	$46.6M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.898	−0.032%	$227.4M	$100.2M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.909	−0.021%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.871	−0.061%	$7.9M	$10.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.920	−0.009%	$31.4M	$53.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.053	+0.133%	$7.6M	$46.1M	10x	as long as short
ApeX Omni HYPEUSDTshort	+0.0100%	1h	93.946	+0.019%	$340K	$1.1M	50x
StandX HYPE-USD	+0.0100%	1h	94.033	+0.111%	$671K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.947	+0.020%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.931	+0.003%	$474K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.936	+0.008%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.892	−0.039%	$2.0M	$2.0M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.874	−0.058%	$18.4M	$45.1M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.900	−0.030%	$4.9M	$5.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.490	+0.598%	$31K	$338K	12x	as long as short
BloFin HYPE-USDT	+0.0212%	4h	94.058	+0.138%	$17.1M	$12.1M	75x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	93.927	−0.001%	$2.7M	$6.7M	20x	as long as short
Kalshi KXHYPEPERP	+0.0241%	8h	94.083	+0.165%	$1.9M	$5.1M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0252%	1h	93.904	−0.026%	$79K	$143K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0335% / S −0.0156%	1h	93.913	−0.017%	$1.4M	—	100x	as long as short
HTX HYPE-USDT	+0.0366%	4h	94.211	+0.301%	$1.5M	$5.9M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0463%	1h	93.987	+0.062%	$7.5M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0672%	1h	93.973	+0.047%	$21.0M	$29.8M	50x	as long as short