Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.013%

Price spread now: Bitget against ApeX Omni−0.070%7-day average −0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$370.373% of the position

Long on ApeX Omni Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.074%−$7 on $10k

Price spread, last 4 days (all we have)−0.616%−$62 · spread now −0.070%, 7d avg −0.024%

Together, before fees−0.690%−$69 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: Bitget is 0.046% cheaper against ApeX Omni than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni HYPEUSDT	93.263	0.0100	pay 0.0013% / 1h	59m 26s	$337K	$1.0M	50x
Short	Bitget HYPEUSDT	93.198	0.0100	get 0.0050% / 4h	1h 59m	$225.5M	$96.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against ApeX 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 ApeX OmnibpFee BitgetbpOrdersPrice spread, now −0.070%Rate

Funding earned: $0
Price spread: −0.070% → −0.024%: −$4.6
Slippage, 4 orders: −$15.28
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$41.88
Costs to cover: 0.373%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 5 min ago; Bitget: live order book, 5 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 ApeX Omni live order book, 5 min ago	4.07 bp	9.6 bp −$10	13.0 bp −$130	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	0.11 bp	8.2 bp −$8	13.5 bp −$135	doesn't fit	doesn't fit

HYPE on 54 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	−0.1128%	1h	93.185	−0.084%	$196K	$226K	7x	as long as short
Arcus HYPE-USD	−0.0786%	1h	93.097	−0.178%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0254%	1h	93.090	−0.185%	$698K	$903K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.198	−0.070%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0056%	1h	93.205	−0.062%	$84K	$346K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0052%	4h	93.146	−0.125%	$155K	$640K	20x	as long as short
Phemex HYPEUSDT	−0.0045%	8h	93.193	−0.075%	$12.6M	$2.7M	50x	as long as short
Aster HYPEUSDT	−0.0006%	4h	93.190	−0.078%	$8.8M	$35.4M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.189	−0.079%	$128K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.196	−0.072%	$22K	$321K	10x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.208	−0.059%	$25K	—	150x	as long as short
Aftermath Perps HYPEUSD	+0.0008%	1h	93.363	+0.107%	$22K	$21K	10x	as long as short
Bybit HYPEUSDT	+0.0011%	8h	93.180	−0.089%	$319.6M	$275.9M	75x	as long as short
BingX HYPE-USDT	+0.0012%	4h	93.211	−0.056%	—	$53.2M	—	as long as short
Gate HYPE_USDT	+0.0018%	4h	93.192	−0.076%	$44.4M	$54.0M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0023%	1h	93.134	−0.138%	$7.4M	$10.4M	20x	as long as short
Phoenix HYPE	+0.0060%	1h	93.318	+0.059%	$210K	$1.2M	10x	as long as short
OKX HYPE-USDT-SWAP	+0.0076%	8h	93.190	−0.078%	$114.4M	$300.5M	50x	as long as short
MEXC HYPE_USDT	+0.0078%	4h	93.202	−0.065%	$88.0M	$79.6M	100x	as long as short
Binance HYPEUSDT	+0.0078%	4h	93.195	−0.073%	$379.0M	$875.2M	75x	as long as short
edgeX HYPEUSDC	+0.0083%	4h	93.256	−0.008%	$5.0M	$30.1M	30x	as long as short
Bluefin HYPE-PERP	+0.0085%	1h	93.109	−0.165%	$79K	$170K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.241	−0.023%	$16.3M	$61.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.232	−0.033%	$3.1M	$11.9M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.188	−0.080%	$67K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.263	0.000%	$339K	$163K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.210	−0.057%	$12K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.201	−0.067%	$5.7M	$43.6M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.293	+0.032%	$2.04B	$658.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.243	−0.022%	$10.0M	$14.6M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.335	+0.077%	$203K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.211	−0.056%	$46.1M	$18.0M	75x	as long as short
Bitget HYPEUSDTshort	+0.0100%	4h	93.198	−0.070%	$225.5M	$96.7M	75x
Variational Omni HYPE	+0.0100%	8h	93.219	−0.048%	$31.1M	$54.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.419	+0.167%	$7.5M	$46.9M	10x	as long as short
ApeX Omni HYPEUSDTlong	+0.0100%	1h	93.263	long leg	$337K	$1.0M	50x
StandX HYPE-USD	+0.0100%	1h	93.250	−0.014%	$665K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.252	−0.011%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.213	−0.054%	$474K	$2.4M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	93.190	−0.079%	$112K	$578K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.137	−0.135%	$16.2M	$7.6M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.253	−0.011%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.156	−0.115%	$2.0M	$1.9M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.178	−0.091%	$18.3M	$43.6M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.154	−0.117%	$396K	$172K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0136%	1h	93.200	−0.068%	$4.9M	$5.4M	50x	as long as short
Injective HYPE/USDC PERP	+0.0137%	1h	94.180	+0.983%	$31K	$339K	12x	as long as short
HTX HYPE-USDT	+0.0204%	4h	93.350	+0.093%	$1.4M	$5.9M	75x	as long as short
Reya HYPERUSDPERP	+0.0256%	1h	93.181	−0.088%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0278%	8h	93.241	−0.024%	$1.9M	$4.9M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0156%	1h	93.178	−0.091%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0372%	1h	93.248	−0.016%	$7.4M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0510%	1h	93.278	+0.016%	$3.2M	$6.7M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0684%	1h	93.244	−0.020%	$20.8M	$30.0M	50x	as long as short