LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0565%/8h= −61.9% APRnext payment −$0.71 per $10,000 · paid last 24h −0.052%

Price spread now: ApeX Omni against Hyperliquid−0.260%7-day average −0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$400.402% of the position

Long on Hyperliquid Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.026%−$3 on $10k

Price spread, last 4 days (all we have)+0.504%+$50 · spread now −0.260%, 7d avg −0.034%

Together, before fees+0.478%+ Points / potential airdropHyperliquid: Season 2 · farm board+$48 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and ApeX Omni is 0.226% cheaper against Hyperliquid than usual: you would sell low and buy high (−$23 if the spread goes back to its 7-day average of −0.034%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.026% in total (about -1.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.71 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid LINK	13.084	0.0665	pay 0.0083% / 1h	20m 38s	$82.3M	$27.3M	10x
Short	ApeX Omni LINKUSDT	13.050	0.0100	get 0.0013% / 1h	20m 38s	$134K	$673K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Hyperliquid. 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 HyperliquidbpFee ApeX OmnibpOrdersPrice spread, now −0.260%Rate

Funding earned: −$118.7
Price spread: −0.260% → −0.034%: −$22.63
Slippage, 4 orders: −$21.16
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$181.49
Costs to cover: 0.402%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 3 min ago; ApeX Omni: live order book, 43 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 Hyperliquid live order book, 3 min ago	1.15 bp	6.4 bp −$6	11.7 bp −$117	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 43 min ago	5.76 bp	13.8 bp −$14	108.9 bp −$1,089	doesn't fit	doesn't fit

LINK on 40 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
GMX LINK/USD [LINK-USDC]	L −0.0090% / S +0.0167%	1h	13.064	−0.155%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.073	−0.084%	$483K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	13.065	−0.148%	$161K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.228%	$4K	$48K	12x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	13.077	−0.054%	$968K	$2.8M	50x	as long as short
Orderly PERP_LINK_USDC	+0.0065%	8h	13.066	−0.138%	$118K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.062	−0.169%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0098%	1h	13.061	−0.174%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.056	−0.214%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.070	−0.105%	$395K	$314K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	13.075	−0.067%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.061	−0.178%	$275K	$171K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.059	−0.188%	$120.6M	$296.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.055	−0.222%	$84.4M	$71.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.053	−0.237%	$27.6M	$82.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.070	−0.107%	$183K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.060	−0.183%	$128.9M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.056	−0.214%	$32.1M	$57.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.069	−0.115%	$23.1M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.048	−0.275%	$54.2M	$29.9M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.052	−0.245%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.074	−0.076%	$346K	$386K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	13.062	−0.168%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.027	−0.434%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.051	−0.255%	$590K	$2.7M	10x	as long as short
ApeX Omni LINKUSDTshort	+0.0100%	1h	13.050	−0.260%	$134K	$673K	50x
Polymarket Perps LINK-USD	+0.0100%	1h	13.083	−0.008%	$82K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.063	−0.161%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.083	−0.006%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.066	−0.138%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.055	−0.222%	$644K	$688K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.045	−0.297%	$651K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.069	−0.112%	$548K	$2K	3x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.067	−0.130%	$5.3M	$15.8M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0332%	1h	13.072	−0.092%	$776K	$174K	50x	as long as short
Reya LINKRUSDPERP	+0.0387%	1h	13.073	−0.085%	$5K	—	20x	as long as short
dYdX LINK-USD	+0.0412%	1h	13.058	−0.201%	$346K	$30K	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0551%	1h	13.068	−0.122%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0583%	8h	13.084	0.000%	$20.2M	$11.5M	50x	as long as short
Hyperliquid LINKlong	+0.0665%	1h	13.084	long leg	$82.3M	$27.3M	10x