HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0066%/8h= +7.2% APRnext payment +$0.08 per $10,000 · paid last 24h −0.018%

Price spread now: ApeX Omni against Phoenix−0.068%7-day average −0.094% · you buy dearer than you sell

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$270.267% of the position

Long on Phoenix Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.260%−$26 on $10k

Price spread, last 3 days (all we have)−0.127%−$13 · spread now −0.068%, 7d avg −0.094%

Together, before fees−0.388%−$39 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 0.026% dearer against Phoenix than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.094%. Mind the row above: over the last 7 days funding on this pair cost −0.260%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix HYPE	94.121	0.0034	pay 0.0004% / 1h	25m 42s	$219K	$1.2M	10x
Short	ApeX Omni HYPEUSDT	94.057	0.0100	get 0.0013% / 1h	25m 42s	$340K	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Phoenix. 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 PhoenixbpFee ApeX OmnibpOrdersPrice spread, now −0.068%Rate

Funding earned: $13.86
Price spread: −0.068% → −0.094%: $2.6
Slippage, 4 orders: −$9.7
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$10.25
Costs to cover: 0.267%
Break-even: 12.2 days

Slippage from Phoenix: live order book, 3 min ago; ApeX Omni: live order book, 3 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 Phoenix live order book, 3 min ago	1.17 bp	5.7 bp −$6	10.7 bp −$107	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 3 min ago	1.97 bp	7.0 bp −$7	11.8 bp −$118	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	−0.1376%	1h	94.105	−0.017%	$199K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0625%	1h	94.076	−0.048%	$1.2M	$3.8M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0225%	1h	94.144	+0.024%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0142%	1h	94.090	−0.033%	$711K	$959K	10x	as long as short
dYdX HYPE-USD	−0.0131%	1h	94.204	+0.089%	$129K	$31K	5x	as long as short
Phemex HYPEUSDT	−0.0115%	8h	94.166	+0.048%	$12.8M	$2.6M	50x	as long as short
Bullet HYPE-USD	−0.0102%	1h	94.160	+0.042%	$113K	$580K	20x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	94.172	+0.054%	$86K	$359K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.124	+0.003%	$3K	$331	25x	as long as short
Bybit HYPEUSDT	−0.0020%	8h	94.150	+0.031%	$323.4M	$280.4M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_HYPE_USDC	−0.0019%	4h	94.155	+0.036%	$160K	$645K	20x	as long as short
Perpl HYPE	0.0000%	43m	94.135	+0.015%	$23K	$327K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	94.206	+0.090%	$27K	—	150x	as long as short
Gate HYPE_USDT	+0.0014%	4h	94.179	+0.062%	$44.6M	$59.8M	75x	as long as short
Aster HYPEUSDT	+0.0020%	4h	94.166	+0.048%	$8.9M	$36.1M	300x	as long as short
Phoenix HYPElong	+0.0034%	1h	94.121	long leg	$219K	$1.2M	10x
Derive HYPE-PERP	+0.0040%	1h	94.146	+0.026%	$16.5M	$7.3M	10x	as long as short
MEXC HYPE_USDT	+0.0048%	4h	94.205	+0.089%	$89.4M	$82.7M	100x	as long as short
Binance HYPEUSDT	+0.0051%	4h	94.188	+0.071%	$384.2M	$893.4M	75x	as long as short
edgeX HYPEUSDC	+0.0059%	4h	94.004	−0.124%	$5.1M	$29.9M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0079%	8h	94.170	+0.052%	$116.1M	$318.6M	50x	as long as short
Lighter HYPE	+0.0096%	1h	94.238	+0.124%	$19.2M	$59.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.221	+0.106%	$3.0M	$12.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.168	+0.050%	$66K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	94.165	+0.047%	$401K	$180K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	94.207	+0.091%	$342K	$165K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.130	+0.010%	$24K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.147	+0.028%	$6.6M	$44.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.296	+0.186%	$2.06B	$677.6M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.210	+0.094%	$10.2M	$14.6M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.209	+0.093%	$46.7M	$18.1M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	94.188	+0.071%	$228.4M	$100.8M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.160	+0.041%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.159	+0.040%	$7.7M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.149	+0.030%	$31.5M	$54.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.088	−0.035%	$7.6M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDTshort	+0.0100%	1h	94.057	−0.068%	$340K	$1.1M	50x
StandX HYPE-USD	+0.0100%	1h	94.130	+0.010%	$681K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.187	+0.070%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.186	+0.069%	$481K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	94.183	+0.066%	$76K	$170K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.246	+0.133%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.195	+0.079%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.151	+0.032%	$205K	$2K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.145	+0.025%	$18.8M	$44.4M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	94.030	−0.097%	$4.9M	$5.5M	50x	as long as short
BloFin HYPE-USDT	+0.0198%	4h	94.138	+0.018%	$17.0M	$12.2M	75x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.490	+0.392%	$31K	$338K	12x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	94.183	+0.065%	$2.8M	$6.7M	20x	as long as short
Kalshi KXHYPEPERP	+0.0225%	8h	94.221	+0.106%	$1.9M	$5.1M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0251%	1h	94.167	+0.048%	$79K	$142K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0333% / S −0.0155%	1h	94.212	+0.097%	$1.4M	—	100x	as long as short
HTX HYPE-USDT	+0.0415%	4h	94.349	+0.242%	$1.5M	$6.3M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0429%	1h	94.289	+0.178%	$7.5M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0670%	1h	94.290	+0.180%	$21.1M	$29.7M	50x	as long as short