Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0062%/8h= +6.8% APRpaid last 24h +0.011%

Price spread now: ApeX Omni against BingX+0.273%83s7-day average −0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$19as 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−$270.274% of the position

Long on BingX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.082%+$8 on $10k

Price spread, last 7 days−0.293%−$29 · spread now +0.273%, 7d avg −0.001%

Together, before fees−0.211%−$21 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and ApeX Omni is 0.274% dearer against BingX than usual: you sell high and buy low: +$27 more if the spread goes back to its 7-day average of −0.001%. The two prices were read 83 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	BingX HYPE-USDT	92.828	0.0038	pay 0.0019% / 4h	1h 06m	—	$53.0M	—
Short	ApeX Omni HYPEUSDT	93.081	0.0100	get 0.0013% / 1h	6m 04s	$338K	$998K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BingX. 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 BingXbpFee ApeX OmnibpOrdersPrice spread, now +0.273%Rate

Funding earned: $13.02
Price spread: +0.273% → −0.001%: $27.4
Slippage, 4 orders: −$7.37
Fee BingX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $13.05
Costs to cover: 0.274%
Break-even: from the start

Slippage from BingX: live order book, 3 min ago; ApeX Omni: live order book, 18 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 BingX live order book, 3 min ago	0.11 bp	5.2 bp −$5	6.2 bp −$62	11.1 bp −$1,113	17.6 bp −$8,819
Sell ApeX Omni live order book, 18 min ago	2.09 bp	7.5 bp −$8	10.9 bp −$109	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
Hibachi HYPE/USDT-P	−0.0928%	1h	92.977	+0.160%	$196K	$226K	7x	as long as short
Arcus HYPE-USD	−0.0899%	1h	92.764	−0.069%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0134%	1h	92.830	+0.002%	$698K	$1.0M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.889	+0.066%	$3K	$331	25x	as long as short
Aftermath Perps HYPEUSD	−0.0080%	1h	93.147	+0.344%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0056%	1h	92.798	−0.032%	$86K	$346K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0052%	4h	92.823	−0.005%	$154K	$655K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.900	+0.078%	$127K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.862	+0.037%	$23K	$316K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.868	+0.043%	$62K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet HYPE-USD	+0.0004%	1h	92.820	−0.009%	$111K	$579K	20x	as long as short
Aster HYPEUSDT	+0.0011%	4h	92.834	+0.006%	$8.8M	$35.9M	300x	as long as short
Phemex HYPEUSDT	+0.0018%	8h	92.888	+0.065%	$12.5M	$2.7M	50x	as long as short
Phoenix HYPE	+0.0026%	1h	93.210	+0.412%	$213K	$1.2M	10x	as long as short
BingX HYPE-USDTlong	+0.0038%	4h	92.828	long leg	—	$53.0M	—
Gate HYPE_USDT	+0.0042%	4h	92.823	−0.005%	$44.3M	$55.7M	75x	as long as short
Bybit HYPEUSDT	+0.0046%	8h	92.815	−0.014%	$319.2M	$276.9M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0072%	8h	92.821	−0.008%	$113.2M	$298.1M	50x	as long as short
Derive HYPE-PERP	+0.0087%	1h	92.806	−0.024%	$16.1M	$7.5M	10x	as long as short
Binance HYPEUSDT	+0.0091%	4h	92.816	−0.013%	$375.4M	$880.5M	75x	as long as short
MEXC HYPE_USDT	+0.0094%	4h	92.827	−0.001%	$88.9M	$81.4M	100x	as long as short
Paradex HYPE-USD-PERP	+0.0096%	8h	92.913	+0.091%	$339K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.861	+0.035%	$16.1M	$62.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.852	+0.026%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.824	−0.004%	$67K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	92.860	+0.034%	$24K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.856	+0.030%	$5.8M	$43.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.898	+0.075%	$2.03B	$654.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.898	+0.075%	$10.0M	$14.8M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.861	+0.036%	$45.7M	$18.1M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.828	0.000%	$224.4M	$96.4M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.826	−0.002%	$7.4M	$10.0M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.797	−0.033%	$31.2M	$53.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.172	+0.371%	$7.5M	$46.2M	10x	as long as short
ApeX Omni HYPEUSDTshort	+0.0100%	1h	93.081	+0.273%	$338K	$998K	50x
StandX HYPE-USD	+0.0100%	1h	93.040	+0.228%	$665K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.930	+0.110%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.887	+0.064%	$469K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.802	−0.028%	$79K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.852	+0.026%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.825	−0.003%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.155	+0.352%	$203K	$10K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.789	−0.042%	$18.3M	$42.8M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.816	−0.012%	$395K	$162K	20x	as long as short
edgeX HYPEUSDC	+0.0114%	4h	93.123	+0.318%	$5.0M	$28.9M	30x	as long as short
HTX HYPE-USDT	+0.0115%	4h	92.965	+0.148%	$1.4M	$6.1M	75x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	92.850	+0.024%	$4.8M	$5.5M	50x	as long as short
Reya HYPERUSDPERP	+0.0259%	1h	92.826	−0.002%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0269%	8h	92.920	+0.099%	$1.9M	$5.2M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0156%	1h	92.855	+0.029%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0331%	1h	92.928	+0.108%	$7.4M	$4.4M	50x	as long as short
BloFin HYPE-USDT	+0.0335%	4h	92.971	+0.154%	$16.9M	$11.5M	75x	as long as short
RISEx HYPE/USDC	+0.0510%	1h	92.930	+0.109%	$3.2M	$6.3M	20x	as long as short
Injective HYPE/USDC PERP	+0.0519%	1h	93.390	+0.605%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0689%	1h	92.914	+0.092%	$20.6M	$29.9M	50x	as long as short