Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0019%/8h= −2.1% APRpaid last 24h −0.006%

Price spread now: edgeX against ApeX Omni−0.020%7-day average −0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$260.257% of the position

Long on ApeX Omni Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.004%$0 on $10k

Price spread, last 7 days+0.035%+$4 · spread now −0.020%, 7d avg −0.023%

Together, before fees+0.039%+ Points / potential airdropedgeX: Active · farm board+$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.023%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni HYPEUSDT	94.340	0.0100	pay 0.0013% / 1h	37m 00s	$369K	$1.0M	50x
Short	edgeX HYPEUSDC	94.322	0.0080	get 0.0040% / 4h	37m 00s	$5.0M	$30.7M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.020%Rate

Funding earned: −$4.09
Price spread: −0.020% → −0.023%: $0.32
Slippage, 4 orders: −$6.7
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$29.48
Costs to cover: 0.257%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 7 min ago; edgeX: live order book, 2 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, 7 min ago	2.07 bp	7.9 bp −$8	11.3 bp −$113	doesn't fit	doesn't fit
Sell edgeX live order book, 2 min ago	0.32 bp	4.8 bp −$5	5.0 bp −$50	98.8 bp −$9,880	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	−0.1592%	1h	94.119	−0.234%	$201K	$251K	7x	as long as short
Bluefin HYPE-PERP	−0.0387%	1h	94.105	−0.249%	$80K	$154K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0210%	1h	94.100	−0.254%	$712K	$1.2M	10x	as long as short
Bullet HYPE-USD	−0.0199%	1h	94.136	−0.217%	$111K	$576K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0136%	1h	94.386	+0.049%	$22K	$20K	10x	as long as short
01 Exchange HYPEUSD	−0.0120%	1h	94.158	−0.193%	$86K	$367K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.178	−0.172%	$3K	$331	25x	as long as short
Arcus HYPE-USD	−0.0045%	1h	94.143	−0.209%	$1.0M	$3.6M	10x	as long as short
Derive HYPE-PERP	−0.0040%	1h	94.176	−0.174%	$16.5M	$7.5M	10x	as long as short
Bybit HYPEUSDT	−0.0016%	8h	94.120	−0.233%	$316.5M	$289.6M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_HYPE_USDC	−0.0002%	4h	94.114	−0.240%	$146K	$685K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.232	−0.115%	$129K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.249	−0.096%	$1.9M	$5.6M	2.3x	as long as short
Phoenix HYPE	0.0000%	1h	94.440	+0.106%	$209K	$1.1M	10x	as long as short
Perpl HYPE	0.0000%	43m	94.162	−0.189%	$19K	$288K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.165	−0.185%	$122K	—	150x	as long as short
Lighter HYPE	+0.0016%	1h	94.139	−0.213%	$16.3M	$64.1M	20x	as long as short
Bitget HYPEUSDT	+0.0038%	4h	94.209	−0.139%	$226.5M	$99.8M	75x	as long as short
Polymarket Perps HYPE-USD	+0.0044%	1h	94.157	−0.194%	$494K	$2.8M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0046%	8h	94.207	−0.141%	$337K	$156K	20x	as long as short
Phemex HYPEUSDT	+0.0050%	8h	94.185	−0.164%	$12.9M	$2.9M	50x	as long as short
BingX HYPE-USDT	+0.0054%	4h	94.177	−0.173%	—	$53.1M	—	as long as short
Coinbase International HYPE-PERP-INTX	+0.0064%	1h	94.180	−0.170%	$4.7M	$6.2M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0079%	8h	94.124	−0.229%	$117.5M	$324.1M	50x	as long as short
edgeX HYPEUSDCshort	+0.0080%	4h	94.322	−0.020%	$5.0M	$30.7M	30x
SoDEX HYPE-USD	+0.0086%	1h	94.138	−0.214%	$2.0M	$1.9M	10x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.155	−0.196%	$3.2M	$10.8M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.143	−0.209%	$81K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.160	−0.191%	$30K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.132	−0.221%	$7.3M	$52.6M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.257	−0.088%	$2.07B	$688.2M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.162	−0.189%	$8.8M	$37.2M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.208	−0.139%	$10.1M	$15.3M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.160	−0.190%	$377.3M	$934.5M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.280	−0.064%	$218K	$12K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.195	−0.154%	$49.7M	$56.5M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.182	−0.167%	$90.2M	$82.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.199	−0.149%	$46.7M	$18.9M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.190	−0.159%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.327	−0.014%	$29.5M	$54.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.380	+0.042%	$7.6M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDTlong	+0.0100%	1h	94.340	long leg	$369K	$1.0M	50x
StandX HYPE-USD	+0.0100%	1h	94.318	−0.023%	$682K	$2.7M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.188	−0.161%	$32K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.315	−0.026%	$1.4M	$6.8M	75x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.237	−0.109%	—	$190K	5x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.177	−0.173%	$18.3M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.167	−0.183%	$398K	$159K	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0150% / S +0.0021%	1h	94.183	−0.167%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0185%	1h	94.130	−0.223%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0223%	1h	94.202	−0.147%	$20.2M	$30.3M	50x	as long as short
RISEx HYPE/USDC	+0.0249%	1h	94.183	−0.167%	$3.2M	$6.4M	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0260%	1h	94.240	−0.106%	$7.4M	$4.3M	50x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.124	−0.229%	$84K	$124K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.143	−0.209%	$17.0M	$12.3M	75x	as long as short