Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0134%/8h= +14.6% APRpaid last 24h +0.042%

Price spread now: HTX against ApeX Omni+0.312%7-day average +0.053% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

costs, in and out, $10k−$360.360% of the position

Long on ApeX Omni Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.044%+$4 on $10k

Price spread, last 4 days (all we have)−0.256%−$26 · spread now +0.312%, 7d avg +0.053%

Together, before fees−0.213%−$21 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and HTX is 0.258% dearer against ApeX Omni than usual: you sell high and buy low: +$26 more if the spread goes back to its 7-day average of +0.053%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni HYPEUSDT	94.057	−0.0034	get 0.0004% / 1h	53m 19s	$362K	$1.0M	50x
Short	HTX HYPE-USDT	94.350	0.0100	get 0.0050% / 4h	53m 19s	$1.4M	$6.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.312%Rate

Funding earned: $28.06
Price spread: +0.312% → +0.053%: $25.8
Slippage, 4 orders: −$13.99
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: $17.87
Costs to cover: 0.360%
Break-even: 2.5 days

Slippage from ApeX Omni: live order book, 1 min ago; HTX: live order book, 1 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, 1 min ago	2.07 bp	8.3 bp −$8	11.4 bp −$114	doesn't fit	doesn't fit
Sell HTX live order book, 1 min ago	2.75 bp	11.0 bp −$11	18.9 bp −$189	63.8 bp −$6,384	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	−0.1120%	1h	94.259	+0.215%	$201K	$234K	7x	as long as short
Bluefin HYPE-PERP	−0.0390%	1h	94.195	+0.147%	$80K	$155K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0220%	1h	94.240	+0.195%	$709K	$1.2M	10x	as long as short
Bullet HYPE-USD	−0.0187%	1h	94.221	+0.174%	$112K	$575K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0132%	1h	94.294	+0.252%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0112%	1h	94.272	+0.229%	$87K	$366K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.250	+0.205%	$3K	$331	25x	as long as short
Arcus HYPE-USD	−0.0045%	1h	94.248	+0.203%	$1.0M	$3.6M	10x	as long as short
Derive HYPE-PERP	−0.0040%	1h	94.253	+0.209%	$16.4M	$7.5M	10x	as long as short
ApeX Omni HYPEUSDTlong	−0.0034%	1h	94.057	long leg	$362K	$1.0M	50x

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit HYPEUSDT	−0.0013%	8h	94.252	+0.207%	$317.2M	$289.5M	75x	as long as short
BingX HYPE-USDT	−0.0012%	4h	94.221	+0.174%	—	$53.5M	—	as long as short
Orderly PERP_HYPE_USDC	−0.0006%	4h	94.190	+0.141%	$146K	$685K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.353	+0.314%	$129K	$60K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.322	+0.282%	$1.8M	$5.5M	2.3x	as long as short
Phoenix HYPE	0.0000%	1h	94.351	+0.313%	$209K	$1.1M	10x	as long as short
Perpl HYPE	0.0000%	43m	94.230	+0.184%	$19K	$287K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.260	+0.216%	$117K	—	150x	as long as short
Bitget HYPEUSDT	+0.0038%	4h	94.193	+0.145%	$226.6M	$100.1M	75x	as long as short
Phemex HYPEUSDT	+0.0051%	8h	94.242	+0.197%	$12.9M	$2.9M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0060%	8h	94.303	+0.262%	$337K	$156K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0064%	1h	94.340	+0.301%	$4.7M	$6.2M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0088%	8h	94.268	+0.224%	$117.4M	$323.4M	50x	as long as short
edgeX HYPEUSDC	+0.0089%	4h	94.094	+0.040%	$5.0M	$30.6M	30x	as long as short
Lighter HYPE	+0.0096%	1h	94.279	+0.236%	$16.3M	$63.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.280	+0.237%	$3.2M	$10.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.255	+0.211%	$82K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.270	+0.226%	$17K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.266	+0.223%	$7.3M	$50.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.369	+0.332%	$2.07B	$688.2M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.289	+0.247%	$8.8M	$37.3M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.300	+0.258%	$10.2M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.281	+0.238%	$377.4M	$932.7M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.065	+0.009%	$217K	$12K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.206	+0.158%	$49.3M	$56.2M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.264	+0.220%	$91.3M	$82.0M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.256	+0.212%	$46.9M	$18.6M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.293	+0.251%	$7.6M	$10.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.098	+0.043%	$29.2M	$55.2M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.258	+0.213%	$7.6M	$46.0M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.227	+0.181%	$681K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.272	+0.229%	$495K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.254	+0.209%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.214	+0.167%	$2.1M	$1.9M	10x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0100%	1h	94.295	+0.253%	$7.4M	$4.3M	50x	as long as short
HTX HYPE-USDTshort	+0.0100%	4h	94.350	+0.312%	$1.4M	$6.8M	75x
Vest HYPE-PERP	+0.0100%	1h	94.337	+0.297%	—	$243K	5x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.176	+0.126%	$18.3M	$43.4M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.215	+0.168%	$398K	$159K	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0151% / S +0.0021%	1h	94.270	+0.227%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0185%	1h	94.240	+0.195%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0223%	1h	94.281	+0.238%	$20.2M	$30.3M	50x	as long as short
RISEx HYPE/USDC	+0.0249%	1h	94.292	+0.250%	$3.2M	$6.4M	20x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.187	+0.138%	$82K	$123K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.219	+0.172%	$17.0M	$12.4M	75x	as long as short