Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0005%/8h= −0.5% APRpaid last 24h +0.005%

Price spread now: Paradex against ApeX Omni−0.234%50s7-day average +0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$220.223% of the position

Long on ApeX Omni Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.814%−$81 · spread now −0.234%, 7d avg +0.023%

Together, before fees−0.814%+ Points / potential airdropParadex: Active · farm board−$81 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: Paradex is 0.256% cheaper against ApeX Omni than usual: you would sell low and buy high, −$26 on $10k if it goes back to its 7-day average of +0.023%. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni HYPEUSDT	93.081	0.0100	pay 0.0013% / 1h	3m 51s	$338K	$998K	50x
Short	Paradex HYPE-USD-PERP	92.863	0.0095	get 0.0095% / 8h	5h 03m	$339K	$163K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.234%Rate

Funding earned: −$1
Price spread: −0.234% → +0.023%: −$25.64
Slippage, 4 orders: −$8.26
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$48.9
Costs to cover: 0.223%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 20 min ago; Paradex: live order book, 60 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, 20 min ago	2.09 bp	8.2 bp −$8	11.5 bp −$115	doesn't fit	doesn't fit
Sell Paradex live order book, 60 min ago	1.28 bp	3.3 bp −$3	7.3 bp −$73	doesn't fit	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
Arcus HYPE-USD	−0.0899%	1h	92.708	−0.401%	$1.2M	$3.8M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0896%	1h	92.844	−0.255%	$195K	$227K	7x	as long as short
Ondo Perps HYPE-USD.P	−0.0129%	1h	92.760	−0.345%	$698K	$1.0M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0091%	1h	93.018	−0.068%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.841	−0.258%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0064%	1h	92.787	−0.316%	$86K	$348K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0055%	4h	92.815	−0.286%	$158K	$658K	20x	as long as short
Bullet HYPE-USD	−0.0002%	1h	92.826	−0.274%	$111K	$579K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.903	−0.191%	$127K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.818	−0.283%	$23K	$309K	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.861	−0.237%	$62K	—	150x	as long as short
Aster HYPEUSDT	+0.0003%	4h	92.702	−0.408%	$8.8M	$36.0M	300x	as long as short
Phemex HYPEUSDT	+0.0023%	8h	92.879	−0.217%	$12.5M	$2.7M	50x	as long as short
Phoenix HYPE	+0.0026%	1h	93.003	−0.084%	$212K	$1.2M	10x	as long as short
BingX HYPE-USDT	+0.0038%	4h	92.517	−0.606%	—	$53.1M	—	as long as short
Bybit HYPEUSDT	+0.0044%	8h	92.527	−0.595%	$317.8M	$278.6M	75x	as long as short
Gate HYPE_USDT	+0.0044%	4h	92.702	−0.407%	$44.6M	$55.9M	75x	as long as short
Derive HYPE-PERP	+0.0067%	1h	92.818	−0.283%	$16.1M	$7.5M	10x	as long as short
OKX HYPE-USDT-SWAP	+0.0071%	8h	92.526	−0.596%	$113.2M	$299.2M	50x	as long as short
Binance HYPEUSDT	+0.0085%	4h	92.558	−0.562%	$374.4M	$888.3M	75x	as long as short
MEXC HYPE_USDT	+0.0086%	4h	92.569	−0.550%	$87.9M	$81.6M	100x	as long as short
Paradex HYPE-USD-PERPshort	+0.0095%	8h	92.863	−0.234%	$339K	$163K	20x
Lighter HYPE	+0.0096%	1h	92.575	−0.543%	$16.0M	$62.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.537	−0.584%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.811	−0.290%	$67K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	92.800	−0.302%	$20K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.827	−0.272%	$5.8M	$43.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.576	−0.543%	$2.02B	$656.0M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.857	−0.240%	$10.0M	$14.8M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.906	−0.188%	$46.0M	$18.2M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.502	−0.622%	$223.6M	$97.1M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.867	−0.230%	$7.4M	$10.0M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.797	−0.305%	$31.2M	$53.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.172	+0.098%	$7.5M	$46.2M	10x	as long as short
ApeX Omni HYPEUSDTlong	+0.0100%	1h	93.081	long leg	$338K	$998K	50x
StandX HYPE-USD	+0.0100%	1h	92.886	−0.209%	$664K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.860	−0.237%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.865	−0.232%	$469K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.821	−0.279%	$79K	$169K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.921	−0.172%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.891	−0.204%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.810	−0.291%	$202K	$13K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.702	−0.407%	$18.3M	$42.9M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.866	−0.231%	$395K	$162K	20x	as long as short
edgeX HYPEUSDC	+0.0108%	4h	92.971	−0.119%	$5.0M	$29.0M	30x	as long as short
HTX HYPE-USDT	+0.0108%	4h	93.023	−0.062%	$1.4M	$6.1M	75x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	92.920	−0.173%	$4.7M	$5.5M	50x	as long as short
Reya HYPERUSDPERP	+0.0259%	1h	92.816	−0.284%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0267%	8h	92.902	−0.192%	$1.9M	$5.2M	2.3x	as long as short
BloFin HYPE-USDT	+0.0326%	4h	92.824	−0.276%	$16.9M	$11.4M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0156%	1h	92.858	−0.239%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0460%	1h	92.983	−0.105%	$7.4M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0510%	1h	92.921	−0.172%	$3.2M	$6.3M	20x	as long as short
Injective HYPE/USDC PERP	+0.0519%	1h	93.390	+0.332%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0688%	1h	92.955	−0.135%	$20.7M	$30.0M	50x	as long as short