Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.002%

Price spread now: ApeX Omni against Variational Omni+0.067%7-day average +0.018% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.007%+$1 on $10k

Price spread, last 3 days (all we have)−0.051%−$5 · spread now +0.067%, 7d avg +0.018%

Together, before fees−0.044%+ Points / potential airdropVariational Omni: Active · farm board−$4 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 0.048% dearer against Variational Omni than usual: you sell high and buy low, +$5 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	Variational Omni HYPE	93.811	0.0100	pay 0.0100% / 8h	7m 25s	$31.2M	$54.1M	—
Short	ApeX Omni HYPEUSDT	93.874	0.0100	get 0.0013% / 1h	7m 25s	$364K	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Variational Omni. 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 Variational OmnibpFee ApeX OmnibpOrdersPrice spread, now +0.067%Rate

Funding earned: $0
Price spread: +0.067% → +0.018%: $4.83
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$5.17
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; 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

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Variational Omni RFQ quote, 2 min ago	0.41 bp	doesn't fit	3.5 bp −$35	14.0 bp −$1,398	doesn't fit
Sell ApeX Omni live order book, 2 min ago	4.42 bp	11.3 bp −$11	13.8 bp −$138	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	−0.1320%	1h	93.960	+0.158%	$199K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0379%	1h	93.902	+0.096%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	93.780	−0.033%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0117%	1h	93.830	+0.020%	$705K	$917K	10x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	93.824	+0.013%	$86K	$368K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.921	+0.117%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0004%	4h	93.877	+0.070%	$170K	$593K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.941	+0.139%	$128K	$30K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.862	+0.054%	$23K	$329K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.893	+0.087%	$27K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix HYPE	+0.0009%	1h	93.978	+0.178%	$217K	$1.2M	10x	as long as short
Derive HYPE-PERP	+0.0011%	1h	93.875	+0.068%	$16.4M	$7.2M	10x	as long as short
Aster HYPEUSDT	+0.0019%	4h	93.872	+0.064%	$8.9M	$36.1M	300x	as long as short
Bybit HYPEUSDT	+0.0019%	8h	93.850	+0.041%	$322.9M	$283.9M	75x	as long as short
Phemex HYPEUSDT	+0.0037%	8h	93.880	+0.073%	$12.8M	$2.6M	50x	as long as short
MEXC HYPE_USDT	+0.0052%	4h	93.869	+0.061%	$88.3M	$82.2M	100x	as long as short
Binance HYPEUSDT	+0.0052%	4h	93.870	+0.062%	$383.7M	$898.3M	75x	as long as short
Popdex HYPEUSDT	+0.0064%	1h	93.825	+0.015%	$60K	$1.2M	50x	as long as short
Gate HYPE_USDT	+0.0070%	4h	93.865	+0.057%	$44.1M	$60.0M	75x	as long as short
edgeX HYPEUSDC	+0.0070%	4h	93.898	+0.093%	$5.1M	$29.7M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0089%	8h	93.860	+0.052%	$115.8M	$322.5M	50x	as long as short
Bullet HYPE-USD	+0.0094%	1h	93.867	+0.059%	$112K	$578K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.954	+0.152%	$18.9M	$60.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.931	+0.127%	$3.1M	$12.3M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.929	+0.125%	$400K	$318K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.820	+0.009%	$38K	$1.6M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.933	+0.130%	$341K	$171K	20x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.905	+0.100%	$5.7M	$44.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.934	+0.131%	$2.04B	$679.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.927	+0.123%	$10.1M	$14.5M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.889	+0.082%	$205K	$7K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.874	+0.067%	$46.5M	$18.6M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.858	+0.050%	$227.3M	$102.2M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.861	+0.053%	—	$54.2M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.959	+0.157%	$7.9M	$10.4M	20x	as long as short
Variational Omni HYPElong	+0.0100%	8h	93.811	long leg	$31.2M	$54.1M	—
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.967	+0.166%	$7.6M	$45.6M	10x	as long as short
ApeX Omni HYPEUSDTshort	+0.0100%	1h	93.874	+0.067%	$364K	$1.1M	50x
StandX HYPE-USD	+0.0100%	1h	93.956	+0.154%	$679K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.896	+0.090%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.869	+0.061%	$471K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.861	+0.053%	$76K	$171K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.960	+0.158%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.922	+0.118%	$2.0M	$2.0M	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.410	+0.638%	$31K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.847	+0.038%	$18.3M	$42.8M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	94.010	+0.212%	$4.9M	$5.7M	50x	as long as short
Kalshi KXHYPEPERP	+0.0155%	8h	93.977	+0.177%	$1.9M	$5.0M	2.3x	as long as short
HTX HYPE-USDT	+0.0192%	4h	94.106	+0.314%	$1.5M	$7.8M	75x	as long as short
BloFin HYPE-USDT	+0.0206%	4h	93.947	+0.145%	$17.0M	$12.6M	75x	as long as short
Reya HYPERUSDPERP	+0.0250%	1h	93.863	+0.055%	$77K	$142K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0271%	1h	94.029	+0.232%	$7.5M	$4.6M	50x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	93.895	+0.090%	$2.8M	$6.8M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0163%	1h	93.896	+0.090%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0577%	1h	94.026	+0.228%	$21.0M	$29.5M	50x	as long as short