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Funding arb · Price arb /

HYPE

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 07:00 UTC−0.0010%/8h= −1.1% APRnext payment −$0.01 per $10,000 · paid last 24h +0.098%
Price spread now: ApeX Omni against Arcus+0.225%53s7-day average +0.010% · you sell dearer than you buy
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−$250.253% of the position
Long on ArcusShort on ApeX Omni
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.128%+$13 on $10k
Price spread, last 7 days−0.228%−$23 · spread now +0.225%, 7d avg +0.010%
Together, before fees−0.100%−$10 on $10k · with fees, hour by hour
The price spread pays, funding is against you. ApeX Omni is 0.215% dearer against Arcus than usual: you sell high and buy low (spread +0.225% now, against its 7-day average of +0.010%): +$22 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 2 months. Mind the row above: over the last 4 days funding on this pair paid +0.128%, so the current rate has only just turned against you. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongArcus HYPE-USD93.5900.0084pay 0.0010% / 1h47m 45s$1.0M$4.0M10x
ShortApeX Omni HYPEUSDT93.8010.0074get 0.0009% / 1h47m 45s$348K$1.0M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

ApeX Omni against Arcus. 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
−$2.09
Price spread: +0.225% → +0.010%
$21.53
Slippage, 4 orders
−$10.78
Fee Arcus: 2.25 bp × 2 orders
−$4.5
Fee ApeX Omni: 5 bp × 2 orders
−$10
Net
−$5.84
Costs to cover
0.253%
Break-even
never at this rate
Slippage from Arcus: live order book, 1 min ago; ApeX Omni: live order book, 1 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 Arcus live order book, 1 min ago0.05 bp4.5 bp −$55.5 bp −$5518.4 bp −$1,845doesn't fit
Sell ApeX Omni live order book, 1 min ago2.62 bp9.3 bp −$912.3 bp −$123doesn't fitdoesn't fit

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
Hibachi HYPE/USDT-P−0.1136%1h93.719+0.138%$199K$242K7xas long as short
Aftermath Perps HYPEUSD−0.0243%1h93.808+0.233%$22K$21K10xas long as short
Ondo Perps HYPE-USD.P−0.0133%1h93.610+0.021%$706K$1.2M10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.589−0.001%$3K$33125xas long as short
Bullet HYPE-USD−0.0065%1h93.618+0.030%$111K$580K20xas long as short
01 Exchange HYPEUSD−0.0064%1h93.618+0.030%$86K$371K20xas long as short
Bluefin HYPE-PERP−0.0035%1h93.612+0.024%$79K$156K20xas long as short
Orderly PERP_HYPE_USDC−0.0020%4h93.610+0.021%$145K$685K20xas long as short
dYdX HYPE-USD0.0000%1h93.698+0.115%$128K$29K5xas long as short
Perpl HYPE0.0000%43m93.624+0.037%$21K$287K10xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0002%1h93.657+0.072%$63K—150xas long as short
BingX HYPE-USDT+0.0006%4h93.662+0.077%—$53.7M—as long as short
Bybit HYPEUSDT+0.0010%8h93.650+0.064%$316.3M$288.0M75xas long as short
Phoenix HYPE+0.0017%1h93.780+0.203%$210K$1.1M10xas long as short
Bitget HYPEUSDT+0.0040%4h93.683+0.099%$225.6M$99.6M75xas long as short
ApeX Omni HYPEUSDTshort+0.0074%1h93.801+0.225%$348K$1.0M50x
Phemex HYPEUSDT+0.0074%8h93.656+0.071%$12.8M$2.8M50xas long as short
Paradex HYPE-USD-PERP+0.0083%8h93.647+0.061%$335K$161K20xas long as short
Arcus HYPE-USDlong+0.0084%1h93.590long leg$1.0M$4.0M10x
edgeX HYPEUSDC+0.0091%4h93.758+0.180%$5.0M$30.5M30xas long as short
Derive HYPE-PERP+0.0092%1h93.587−0.004%$16.3M$7.4M10xas long as short
Lighter HYPE+0.0096%1h93.681+0.097%$16.2M$63.6M20xas long as short
Lighter RH HYPE+0.0096%1h93.681+0.097%$3.1M$11.1M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.598+0.009%$78K$1.2M50xas long as short
Katana Perps HYPE-USD+0.0100%8h93.600+0.011%$23K$1.7M10xas long as short
Nado HYPE-PERP+0.0100%1h93.606+0.017%$7.4M$50.9M10xas long as short
Hyperliquid HYPE+0.0100%1h93.770+0.192%$2.05B$682.7M10xas long as short
Aster HYPEUSDT+0.0100%4h93.674+0.090%$8.9M$37.3M300xas long as short
Pacifica HYPE+0.0100%1h93.670+0.086%$10.1M$15.4M20xas long as short
Binance HYPEUSDT+0.0100%4h93.676+0.092%$375.4M$930.7M75xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.641+0.054%$115.7M$316.2M50xas long as short
Gate HYPE_USDT+0.0100%4h93.669+0.084%$48.4M$55.0M75xas long as short
MEXC HYPE_USDT+0.0100%4h93.649+0.063%$88.8M$83.3M100xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.625+0.037%$46.3M$18.8M75xas long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.648+0.062%$7.2M$10.8M20xas long as short
Variational Omni HYPE+0.0100%8h93.670+0.085%$28.6M$56.1M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.726+0.145%$7.6M$48.1M10xas long as short
StandX HYPE-USD+0.0100%1h93.679+0.095%$679K$2.8M20xas long as short
Vest HYPE-PERP+0.0100%1h93.685+0.102%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.633+0.046%$470K$2.8M20xas long as short
SunX HYPE-USDT+0.0100%4h93.681+0.097%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.632+0.045%$2.0M$1.9M10xas long as short
HTX HYPE-USDT+0.0100%4h93.799+0.223%$1.4M$6.7M75xas long as short
Bulk HYPE-USD+0.0100%1h93.731+0.151%$216K$15K10xas long as short
Kalshi KXHYPEPERP+0.0104%8h93.690+0.107%$1.8M$5.6M2.3xas long as short
Extended HYPE-USD+0.0104%1h93.622+0.034%$18.2M$43.3M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.622+0.035%$396K$159K20xas long as short
Coinbase International HYPE-PERP-INTX+0.0120%1h93.680+0.096%$4.7M$6.1M50xas long as short
Injective HYPE/USDC PERP+0.0205%1h93.670+0.085%$30K$339K12xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0262%1h93.715+0.134%$7.4M$4.2M50xas long as short
Reya HYPERUSDPERP+0.0271%1h93.602+0.013%$77K$130K15xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0333% / S −0.0154%1h93.664+0.079%$1.4M—100xas long as short
BloFin HYPE-USDT+0.0340%4h93.600+0.011%$17.0M$12.2M75xas long as short
Kraken Futures PF_HYPEUSD+0.0415%1h93.702+0.119%$20.9M$29.6M50xas long as short
RISEx HYPE/USDC+0.0559%1h93.644+0.058%$3.2M$6.4M20xas long as short