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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 02:00 UTC+0.0206%/8h= +22.6% APRpaid last 24h +0.006%
Price spread now: ApeX Omni against Phemex+0.020%7-day average −0.013% · you sell dearer than you buy
Net, funding: paid 7d − costs−$59as in the Funding arb table
Net, price: spread back to 7d avg − costs−$56as in the Price arb table
costs, in and out, $10k−$590.592% of the position
Long on PhemexShort on ApeX Omni
What this pair did over the last
the charts below follow
Funding, last 7 days+0.005%$0 on $10k
Price spread, last 3 days (all we have)−0.044%−$4 · spread now +0.020%, 7d avg −0.013%
Together, before fees−0.039%−$4 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and ApeX Omni is 0.034% dearer against Phemex than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.013%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.005% in total (about 0.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhemex HYPEUSDT93.687−0.0106get 0.0106% / 8h6h 16m$12.7M$2.7M50x
ShortApeX Omni HYPEUSDT93.7060.0100get 0.0013% / 1h16m 48s$339K$1.0M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

ApeX Omni against Phemex. 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
$43.36
Price spread: +0.020% → −0.013%
$3.37
Slippage, 4 orders
−$37.21
Fee Phemex: 6 bp × 2 orders
−$12
Fee ApeX Omni: 5 bp × 2 orders
−$10
Net
−$12.48
Costs to cover
0.592%
Break-even
9.0 days
Slippage from Phemex: live order book, 2 min ago; ApeX Omni: live order book, 2 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 Phemex live order book, 2 min ago2.40 bp17.9 bp −$1834.3 bp −$343doesn't fitdoesn't fit
Sell ApeX Omni live order book, 2 min ago3.04 bp8.1 bp −$811.3 bp −$113doesn't fitdoesn't fit

HYPE on 54 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−0.1040%1h93.615−0.077%$197K$229K7xas long as short
Arcus HYPE-USD−0.0786%1h93.537−0.160%$1.2M$3.8M10xas long as short
Phemex HYPEUSDTlong−0.0106%8h93.687long leg$12.7M$2.7M50x
Aftermath Perps HYPEUSD−0.0084%1h93.779+0.098%$22K$21K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.666−0.022%$3K$33125xas long as short
Ondo Perps HYPE-USD.P−0.0066%1h93.710+0.025%$702K$922K10xas long as short
Orderly PERP_HYPE_USDC−0.0056%4h93.688+0.001%$156K$646K20xas long as short
01 Exchange HYPEUSD−0.0048%1h93.654−0.035%$85K$349K20xas long as short
Backpack HYPE_USDC_PERP−0.0031%1h93.664−0.025%$7.8M$10.3M20xas long as short
Gate HYPE_USDT−0.0010%4h93.726+0.042%$44.4M$55.2M75xas long as short
Show all 54 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster HYPEUSDT−0.0005%4h93.707+0.021%$8.8M$35.8M300xas long as short
dYdX HYPE-USD0.0000%1h93.751+0.068%$129K$31K5xas long as short
Perpl HYPE0.0000%43m93.707+0.021%$22K$325K10xas long as short
BingX HYPE-USDT+0.0002%4h93.739+0.056%—$53.6M—as long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0003%1h93.726+0.041%$26K—150xas long as short
Bybit HYPEUSDT+0.0013%8h93.699+0.013%$321.6M$279.8M75xas long as short
Phoenix HYPE+0.0060%1h93.766+0.084%$213K$1.2M10xas long as short
MEXC HYPE_USDT+0.0066%4h93.737+0.053%$88.9M$83.3M100xas long as short
Binance HYPEUSDT+0.0070%4h93.751+0.068%$381.2M$889.2M75xas long as short
OKX HYPE-USDT-SWAP+0.0071%8h93.703+0.017%$115.3M$307.5M50xas long as short
Bullet HYPE-USD+0.0073%1h93.711+0.026%$111K$577K20xas long as short
edgeX HYPEUSDC+0.0085%4h93.690+0.003%$5.1M$30.0M30xas long as short
Paradex HYPE-USD-PERP+0.0096%8h93.720+0.035%$340K$164K20xas long as short
Lighter HYPE+0.0096%1h93.752+0.070%$16.4M$62.6M20xas long as short
Lighter RH HYPE+0.0096%1h93.772+0.091%$3.1M$11.9M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.662−0.027%$67K$1.2M50xas long as short
Aevo HYPE-PERP+0.0096%1h93.713+0.028%$399K$175K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.660−0.029%$21K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.638−0.052%$5.7M$44.7M10xas long as short
Hyperliquid HYPE+0.0100%1h93.838+0.161%$2.05B$666.0M10xas long as short
Pacifica HYPE+0.0100%1h93.703+0.017%$10.1M$14.7M20xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.752+0.069%$46.4M$18.0M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.766+0.084%$227.1M$98.3M75xas long as short
Variational Omni HYPE+0.0100%8h93.748+0.065%$31.1M$54.6M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.737+0.053%$7.6M$47.0M10xas long as short
ApeX Omni HYPEUSDTshort+0.0100%1h93.706+0.020%$339K$1.0M50x
StandX HYPE-USD+0.0100%1h93.758+0.076%$669K$2.6M20xas long as short
Vest HYPE-PERP+0.0100%1h93.723+0.038%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.730+0.046%$473K$2.4M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.682−0.005%$79K$170K20xas long as short
Derive HYPE-PERP+0.0100%1h93.688+0.001%$16.3M$7.7M10xas long as short
SunX HYPE-USDT+0.0100%4h93.728+0.044%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.718+0.033%$2.0M$1.9M10xas long as short
Bulk HYPE-USD+0.0100%1h93.880+0.206%$204K$10K10xas long as short
Extended HYPE-USD+0.0104%1h93.721+0.036%$18.3M$44.0M50xas long as short
Coinbase International HYPE-PERP-INTX+0.0136%1h93.730+0.046%$4.9M$5.5M50xas long as short
Injective HYPE/USDC PERP+0.0137%1h93.610−0.082%$30K$339K12xas long as short
HTX HYPE-USDT+0.0195%4h93.862+0.187%$1.4M$5.9M75xas long as short
RISEx HYPE/USDC+0.0210%1h93.734+0.050%$3.2M$7.0M20xas long as short
Reya HYPERUSDPERP+0.0255%1h93.658−0.031%$80K$140K15xas long as short
Kalshi KXHYPEPERP+0.0280%8h93.777+0.096%$1.9M$4.9M2.3xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0332% / S −0.0156%1h93.730+0.046%$1.4M—100xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0401%1h93.812+0.133%$7.4M$4.5M50xas long as short
Kraken Futures PF_HYPEUSD+0.0680%1h93.821+0.143%$21.0M$29.8M50xas long as short