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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 23:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.13 per $10,000 · paid last 24h −0.025%
Price spread now: dYdX against ApeX Omni+0.280%50s7-day average −0.001% · you sell dearer than you buy
Net, funding: paid 7d − costs−$95as 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−$810.814% of the position
Long on ApeX OmniShort on dYdX
What this pair did over the last
the charts below follow
Funding, last 7 days−0.139%−$14 on $10k
Price spread, last 3 days (all we have)−0.413%−$41 · spread now +0.280%, 7d avg −0.001%
Together, before fees−0.552%−$55 on $10k · with fees, hour by hour
The price spread pays, funding is against you. dYdX is 0.281% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.280% now, against its 7-day average of −0.001%): +$28 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 9.4 days. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongApeX Omni HYPEUSDT93.0030.0100pay 0.0013% / 1h45m 58s$411K$1.0M50x
ShortdYdX HYPE-USD93.2640get 0.0000% / 1h45m 58s$127K$32K5x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

dYdX 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

Funding earned
−$21
Price spread: +0.280% → −0.001%
$28.14
Slippage, 4 orders
−$61.39
Fee ApeX Omni: 5 bp × 2 orders
−$10
Fee dYdX: 5 bp × 2 orders
−$10
Net
−$74.25
Costs to cover
0.814%
Break-even
never at this rate
Slippage from ApeX Omni: live order book, 3 min ago; dYdX: live order book, 38 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy ApeX Omni live order book, 3 min ago4.41 bp9.7 bp −$1013.3 bp −$133doesn't fitdoesn't fit
Sell dYdX live order book, 38 min ago25.29 bp30.3 bp −$3073.1 bp −$731167.1 bp −$16.7K650.6 bp −$325.3K

HYPE on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aftermath Perps HYPEUSD−0.0333%1h93.132+0.139%$22K$22K10xas long as short
Arcus HYPE-USD−0.0131%1h93.200+0.212%$1.2M$4.0M10xas long as short
Hibachi HYPE/USDT-P−0.0096%1h93.185+0.196%$197K$231K7xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.221+0.234%$3K$33125xas long as short
Ondo Perps HYPE-USD.P−0.0027%1h93.120+0.126%$699K$925K10xas long as short
01 Exchange HYPEUSD−0.0008%1h93.260+0.276%$90K$362K20xas long as short
dYdX HYPE-USDshort0.0000%1h93.264+0.280%$127K$32K5x
Kalshi KXHYPEPERP0.0000%8h93.404+0.431%$1.9M$5.3M2.3xas long as short
Perpl HYPE0.0000%43m93.249+0.265%$23K$331K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0001%1h93.325+0.346%$20K—150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster HYPEUSDT+0.0011%4h93.321+0.342%$8.9M$36.0M300xas long as short
Derive HYPE-PERP+0.0016%1h93.260+0.276%$16.3M$7.1M10xas long as short
Popdex HYPEUSDT+0.0016%1h93.227+0.241%$57K$1.2M50xas long as short
Bybit HYPEUSDT+0.0031%8h93.345+0.368%$324.4M$286.9M75xas long as short
Phoenix HYPE+0.0034%1h93.178+0.188%$216K$1.2M10xas long as short
Orderly PERP_HYPE_USDC+0.0039%4h93.293+0.312%$170K$521K20xas long as short
Gate HYPE_USDT+0.0064%4h93.338+0.360%$43.7M$57.7M75xas long as short
Bullet HYPE-USD+0.0092%1h93.293+0.312%$112K$579K20xas long as short
Lighter HYPE+0.0096%1h93.364+0.388%$18.5M$58.6M20xas long as short
Lighter RH HYPE+0.0096%1h93.329+0.351%$3.0M$12.1M20xas long as short
MEXC HYPE_USDT+0.0098%4h93.309+0.329%$90.3M$81.5M100xas long as short
Binance HYPEUSDT+0.0098%4h93.339+0.362%$383.6M$892.3M75xas long as short
Paradex HYPE-USD-PERP+0.0099%8h93.259+0.275%$339K$170K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.230+0.244%$40K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.226+0.240%$5.9M$44.1M10xas long as short
Hyperliquid HYPE+0.0100%1h93.344+0.367%$2.03B$671.6M10xas long as short
Pacifica HYPE+0.0100%1h93.252+0.267%$10.0M$14.3M20xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.359+0.383%$114.1M$314.9M50xas long as short
Bulk HYPE-USD+0.0100%1h92.884−0.128%$203K$10K10xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.326+0.347%$47.2M$19.1M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.322+0.343%$226.2M$102.7M75xas long as short
BingX HYPE-USDT+0.0100%4h93.326+0.347%—$54.1M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.324+0.345%$7.9M$11.5M20xas long as short
Variational Omni HYPE+0.0100%8h92.887−0.125%$28.9M$50.5M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h92.983−0.022%$7.5M$45.3M10xas long as short
ApeX Omni HYPEUSDTlong+0.0100%1h93.003long leg$411K$1.0M50x
StandX HYPE-USD+0.0100%1h93.204+0.216%$674K$2.5M20xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.273+0.290%$493K$2.6M20xas long as short
SunX HYPE-USDT+0.0100%4h93.295+0.314%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.313+0.333%$2.0M$2.0M10xas long as short
Phemex HYPEUSDT+0.0100%8h93.302+0.321%$12.7M$2.6M50xas long as short
Vest HYPE-PERP+0.0100%1h93.268+0.285%—$454K5xas long as short
Extended HYPE-USD+0.0104%1h93.298+0.317%$18.3M$42.2M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.317+0.338%$397K$318K20xas long as short
edgeX HYPEUSDC+0.0108%4h92.923−0.086%$5.0M$29.5M30xas long as short
Coinbase International HYPE-PERP-INTX+0.0176%1h93.340+0.362%$4.9M$5.7M50xas long as short
Bluefin HYPE-PERP+0.0230%1h93.323+0.344%$76K$168K20xas long as short
Injective HYPE/USDC PERP+0.0239%1h93.170+0.180%$30K$338K12xas long as short
Reya HYPERUSDPERP+0.0246%1h93.251+0.266%$78K$158K15xas long as short
RISEx HYPE/USDC+0.0280%1h93.295+0.314%$2.8M$6.8M20xas long as short
HTX HYPE-USDT+0.0283%4h93.450+0.481%$1.5M$7.7M75xas long as short
BloFin HYPE-USDT+0.0338%4h93.191+0.202%$17.0M$12.5M75xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0340% / S −0.0159%1h93.309+0.329%$1.5M—100xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0382%1h93.409+0.437%$7.4M$4.6M50xas long as short
Kraken Futures PF_HYPEUSD+0.0465%1h93.427+0.456%$20.8M$28.6M50xas long as short