Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: ApeX Omni against Polymarket Perps+0.268%63s7-day average +0.037% · 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—prices read too far apart to compare

costs, in and out, $10k−$290.292% of the position

Long on Polymarket Perps Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.049%+$5 on $10k

Price spread, last 7 days−0.204%−$20 · spread now +0.268%, 7d avg +0.037%

Together, before fees−0.156%−$16 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 0.231% dearer against Polymarket Perps than usual: you sell high and buy low, +$23 on $10k if it goes back to its 7-day average of +0.037%. The two prices were read 63 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	Polymarket Perps HYPE-USD	92.241	0.0100	pay 0.0013% / 1h	47m 49s	$474K	$2.6M	20x
Short	ApeX Omni HYPEUSDT	92.488	0.0100	get 0.0013% / 1h	47m 49s	$338K	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Polymarket Perps. 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 Polymarket PerpsbpFee ApeX OmnibpOrdersPrice spread, now +0.268%Rate

Funding earned: $0
Price spread: +0.268% → +0.037%: $23.08
Slippage, 4 orders: −$11.21
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$6.13
Costs to cover: 0.292%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 1 min ago; ApeX Omni: live order book, 1 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 Polymarket Perps live order book, 1 min ago	0.05 bp	5.2 bp −$5	6.0 bp −$60	11.3 bp −$1,126	doesn't fit
Sell ApeX Omni live order book, 1 min ago	4.01 bp	10.2 bp −$10	13.6 bp −$136	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
Arcus HYPE-USD	−0.0948%	1h	92.181	−0.065%	$1.2M	$3.8M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0680%	1h	92.323	+0.089%	$194K	$227K	7x	as long as short
01 Exchange HYPEUSD	−0.0120%	1h	92.171	−0.076%	$86K	$352K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0116%	1h	92.540	+0.324%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.337	+0.104%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0074%	1h	92.177	−0.069%	$110K	$580K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0068%	4h	92.179	−0.067%	$157K	$663K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0051%	1h	92.230	−0.012%	$699K	$1.1M	10x	as long as short
Aster HYPEUSDT	−0.0011%	4h	92.184	−0.062%	$8.6M	$36.4M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.238	−0.003%	$126K	$31K	5x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	92.216	−0.028%	$22K	$310K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.214	−0.029%	$61K	—	150x	as long as short
BingX HYPE-USDT	+0.0031%	4h	92.178	−0.068%	—	$53.2M	—	as long as short
Bybit HYPEUSDT	+0.0037%	8h	92.230	−0.012%	$315.7M	$280.7M	75x	as long as short
Derive HYPE-PERP	+0.0041%	1h	92.155	−0.094%	$16.0M	$7.5M	10x	as long as short
Phoenix HYPE	+0.0043%	1h	92.430	+0.205%	$210K	$1.2M	10x	as long as short
Gate HYPE_USDT	+0.0046%	4h	92.178	−0.068%	$44.3M	$54.7M	75x	as long as short
Phemex HYPEUSDT	+0.0052%	8h	92.223	−0.020%	$12.4M	$2.7M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0075%	8h	92.242	+0.001%	$112.6M	$300.6M	50x	as long as short
Binance HYPEUSDT	+0.0078%	4h	92.229	−0.013%	$370.8M	$896.1M	75x	as long as short
MEXC HYPE_USDT	+0.0078%	4h	92.177	−0.069%	$87.1M	$80.3M	100x	as long as short
Popdex HYPEUSDT	+0.0080%	1h	92.198	−0.047%	$67K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0091%	8h	92.288	+0.051%	$337K	$162K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.201	−0.044%	$16.0M	$62.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.212	−0.031%	$3.1M	$11.6M	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.200	−0.044%	$13K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.266	+0.027%	$5.8M	$43.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.227	−0.015%	$2.01B	$662.9M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.260	+0.021%	$10.0M	$15.0M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.800	+0.606%	$202K	$13K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.195	−0.050%	$45.7M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.187	−0.059%	$223.2M	$97.9M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.153	−0.095%	$7.2M	$10.2M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.469	+0.247%	$28.5M	$57.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.799	+0.605%	$7.5M	$45.8M	10x	as long as short
ApeX Omni HYPEUSDTshort	+0.0100%	1h	92.488	+0.268%	$338K	$1.0M	50x
StandX HYPE-USD	+0.0100%	1h	92.373	+0.143%	$662K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.276	+0.038%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USDlong	+0.0100%	1h	92.241	long leg	$474K	$2.6M	20x
SunX HYPE-USDT	+0.0100%	4h	92.222	−0.021%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.174	−0.073%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.350	+0.118%	$1.4M	$6.2M	75x	as long as short
edgeX HYPEUSDC	+0.0103%	4h	92.776	+0.580%	$5.1M	$29.2M	30x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.163	−0.085%	$18.1M	$43.4M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.166	−0.081%	$390K	$164K	20x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	92.250	+0.010%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.240	−0.001%	$4.7M	$5.5M	50x	as long as short
Reya HYPERUSDPERP	+0.0260%	1h	92.186	−0.060%	$78K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0261%	8h	92.370	+0.140%	$1.8M	$5.4M	2.3x	as long as short
BloFin HYPE-USDT	+0.0316%	4h	92.252	+0.012%	$16.7M	$11.5M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0329% / S −0.0153%	1h	92.205	−0.039%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0334%	1h	92.212	−0.031%	$20.5M	$30.4M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0401%	1h	92.269	+0.030%	$7.5M	$4.4M	50x	as long as short
Bluefin HYPE-PERP	+0.0666%	1h	92.173	−0.074%	$78K	$168K	20x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.338	+0.105%	$3.1M	$6.4M	20x	as long as short