Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: ApeX Omni against StandX−0.047%61s7-day average −0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs−$28as 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−$280.277% of the position

Long on StandX 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 3 days (all we have)−0.146%−$15 · spread now −0.047%, 7d avg −0.010%

Together, before fees−0.150%+ Points / potential airdropStandX: Active · farm board−$15 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 0.037% cheaper against StandX than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.010%. The two prices were read 61 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	StandX HYPE-USD	93.602	0.0100	pay 0.0013% / 1h	28m 18s	$677K	$2.4M	20x
Short	ApeX Omni HYPEUSDT	93.558	0.0100	get 0.0013% / 1h	28m 18s	$406K	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against StandX. 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 StandXbpFee ApeX OmnibpOrdersPrice spread, now −0.047%Rate

Funding earned: $0
Price spread: −0.047% → −0.010%: −$3.73
Slippage, 4 orders: −$9.72
Fee StandX: 4 bp × 2 orders: −$8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$31.46
Costs to cover: 0.277%
Break-even: never at this rate

Slippage from StandX: 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 StandX live order book, 1 min ago	1.28 bp	5.3 bp −$5	5.5 bp −$55	13.2 bp −$1,324	doesn't fit
Sell ApeX Omni live order book, 1 min ago	2.03 bp	7.7 bp −$8	10.7 bp −$107	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	−0.1024%	1h	93.496	−0.114%	$197K	$233K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0276%	1h	93.540	−0.067%	$22K	$22K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0247%	1h	93.440	−0.173%	$701K	$939K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.541	−0.065%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0072%	1h	93.560	−0.045%	$89K	$349K	20x	as long as short
Bullet HYPE-USD	−0.0038%	1h	93.523	−0.085%	$112K	$583K	20x	as long as short
Derive HYPE-PERP	−0.0007%	1h	93.491	−0.119%	$16.4M	$7.1M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.563	−0.041%	$127K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.578	−0.026%	$23K	$337K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.571	−0.034%	$20K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0018%	4h	93.538	−0.068%	$9.0M	$35.8M	300x	as long as short
Gate HYPE_USDT	+0.0024%	4h	93.534	−0.073%	$44.1M	$56.6M	75x	as long as short
Bybit HYPEUSDT	+0.0037%	8h	93.530	−0.077%	$325.8M	$287.0M	75x	as long as short
Orderly PERP_HYPE_USDC	+0.0067%	4h	93.539	−0.067%	$175K	$535K	20x	as long as short
Phoenix HYPE	+0.0068%	1h	93.549	−0.057%	$216K	$1.2M	10x	as long as short
Popdex HYPEUSDT	+0.0072%	1h	93.535	−0.072%	$57K	$1.2M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.589	−0.014%	$18.5M	$59.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.564	−0.041%	$3.1M	$12.3M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0100%	8h	93.576	−0.028%	$340K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.560	−0.045%	$40K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.525	−0.082%	$6.0M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.623	+0.022%	$2.04B	$669.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.569	−0.035%	$10.0M	$14.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.536	−0.071%	$385.9M	$887.5M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.517	−0.091%	$114.9M	$315.2M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.523	−0.084%	$1.2M	$4.0M	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.534	−0.073%	$93.5M	$82.2M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.569	−0.035%	$46.4M	$18.7M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.552	−0.053%	$227.3M	$102.1M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.535	−0.072%	—	$54.2M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.551	−0.054%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.541	−0.065%	$28.9M	$49.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.580	−0.023%	$7.5M	$45.2M	10x	as long as short
ApeX Omni HYPEUSDTshort	+0.0100%	1h	93.558	−0.047%	$406K	$1.0M	50x
StandX HYPE-USDlong	+0.0100%	1h	93.602	long leg	$677K	$2.4M	20x
Vest HYPE-PERP	+0.0100%	1h	93.573	−0.031%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.571	−0.033%	$494K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.536	−0.071%	$76K	$167K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.577	−0.027%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.526	−0.081%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.546	−0.060%	$12.7M	$2.6M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.556	−0.049%	$204K	$12K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.515	−0.093%	$18.4M	$41.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.534	−0.072%	$398K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0116%	4h	93.544	−0.062%	$5.1M	$29.6M	30x	as long as short
Kalshi KXHYPEPERP	+0.0127%	8h	93.629	+0.029%	$1.9M	$5.3M	2.3x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0177%	1h	93.627	+0.027%	$7.4M	$4.6M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.600	−0.002%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0245%	1h	93.526	−0.082%	$78K	$158K	15x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.510	−0.098%	$30K	$291K	12x	as long as short
HTX HYPE-USDT	+0.0323%	4h	93.707	+0.112%	$1.5M	$7.6M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0164%	1h	93.576	−0.027%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.513	−0.095%	$17.0M	$12.5M	75x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.609	+0.007%	$2.7M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0573%	1h	93.632	+0.032%	$19.2M	$26.0M	50x	as long as short