Settings8H · net · $10k
Funding arb · Price arb /

HYPE

all HYPE markets
SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 01:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.00 per $10,000 · paid last 24h +0.004%
Price spread now: ApeX Omni against Popdex+0.369%57s7-day average −0.003% · you sell dearer than you buy
Net, funding: paid 7d − costsunder 7 days of funding history
Net, price: spread back to 7d avg − costsprices read too far apart to compare
costs, in and out, $10k−$240.240% of the position
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.007%+$1 on $10k
Price spread, last 3 days (all we have)−0.364%−$36 · spread now +0.369%, 7d avg −0.003%
Together, before fees−0.357%−$36 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: ApeX Omni is 0.372% dearer against Popdex than usual: you sell high and buy low, +$37 on $10k if it goes back to its 7-day average of −0.003%. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPopdex HYPEUSDT93.4750.0096pay 0.0012% / 1h2m 24s$64K$1.2M50x
ShortApeX Omni HYPEUSDT93.8200.0100get 0.0013% / 1h2m 24s$340K$1.1M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

ApeX Omni against Popdex. 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
$0.84
Price spread: +0.369% → −0.003%
$37.19
Slippage, 4 orders
−$7.62
Fee Popdex: 3.2 bp × 2 orders
−$6.4
Fee ApeX Omni: 5 bp × 2 orders
−$10
Net
$14.01
Costs to cover
0.240%
Break-even
from the start
Slippage from Popdex: 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 Popdex live order book, 2 min ago0.59 bp3.8 bp −$44.4 bp −$4418.7 bp −$1,872doesn't fit
Sell ApeX Omni live order book, 2 min ago3.20 bp8.2 bp −$811.3 bp −$113doesn'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−0.1120%1h93.805+0.353%$199K$228K7xas long as short
Arcus HYPE-USD−0.0625%1h93.372−0.110%$1.2M$3.9M10xas long as short
Aftermath Perps HYPEUSD−0.0190%1h93.839+0.389%$22K$21K10xas long as short
Ondo Perps HYPE-USD.P−0.0104%1h93.580+0.112%$710K$963K10xas long as short
01 Exchange HYPEUSD−0.0080%1h93.477+0.002%$85K$359K20xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.510+0.037%$3K$33125xas long as short
dYdX HYPE-USD−0.0078%1h93.595+0.128%$128K$31K5xas long as short
Gate HYPE_USDT−0.0060%4h93.432−0.046%$44.3M$60.5M75xas long as short
Bullet HYPE-USD−0.0042%1h93.435−0.043%$113K$579K20xas long as short
Orderly PERP_HYPE_USDC−0.0039%4h93.434−0.044%$158K$644K20xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster HYPEUSDT−0.0006%4h93.470−0.005%$8.9M$36.0M300xas long as short
Perpl HYPE0.0000%43m93.501+0.028%$23K$327K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0003%1h93.469−0.007%$27K150xas long as short
Bybit HYPEUSDT+0.0019%8h93.450−0.027%$321.2M$279.5M75xas long as short
Derive HYPE-PERP+0.0024%1h93.440−0.038%$16.3M$7.5M10xas long as short
Phemex HYPEUSDT+0.0024%8h93.513+0.041%$12.7M$2.6M50xas long as short
Phoenix HYPE+0.0034%1h93.887+0.441%$213K$1.2M10xas long as short
Binance HYPEUSDT+0.0052%4h93.449−0.028%$381.6M$897.4M75xas long as short
MEXC HYPE_USDT+0.0054%4h93.462−0.014%$87.7M$83.5M100xas long as short
Bluefin HYPE-PERP+0.0067%1h93.476+0.001%$76K$170K20xas long as short
OKX HYPE-USDT-SWAP+0.0071%8h93.477+0.002%$115.5M$313.7M50xas long as short
edgeX HYPEUSDC+0.0074%4h93.859+0.410%$5.1M$29.7M30xas long as short
Lighter HYPE+0.0096%1h93.563+0.094%$18.8M$60.9M20xas long as short
Lighter RH HYPE+0.0096%1h93.557+0.088%$3.0M$12.2M20xas long as short
Popdex HYPEUSDTlong+0.0096%1h93.475long leg$64K$1.2M50x
Aevo HYPE-PERP+0.0096%1h93.461−0.015%$398K$180K20xas long as short
Paradex HYPE-USD-PERP+0.0099%8h93.556+0.086%$340K$165K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.480+0.005%$34K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.523+0.052%$6.6M$44.6M10xas long as short
Hyperliquid HYPE+0.0100%1h93.525+0.053%$2.04B$669.6M10xas long as short
Pacifica HYPE+0.0100%1h93.547+0.077%$10.1M$14.7M20xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.451−0.026%$46.4M$18.3M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.469−0.006%$226.3M$100.2M75xas long as short
BingX HYPE-USDT+0.0100%4h93.447−0.030%$53.8Mas long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.594+0.127%$7.9M$10.6M20xas long as short
Variational Omni HYPE+0.0100%8h93.768+0.313%$31.3M$53.6Mas long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.861+0.413%$7.6M$46.0M10xas long as short
ApeX Omni HYPEUSDTshort+0.0100%1h93.820+0.369%$340K$1.1M50x
StandX HYPE-USD+0.0100%1h93.742+0.286%$669K$2.6M20xas long as short
Vest HYPE-PERP+0.0100%1h93.560+0.091%$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.496+0.022%$472K$2.5M20xas long as short
SunX HYPE-USDT+0.0100%4h93.515+0.043%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.457−0.019%$2.0M$2.0M10xas long as short
Bulk HYPE-USD+0.0100%1h93.894+0.448%$204K$10K10xas long as short
Extended HYPE-USD+0.0104%1h93.432−0.047%$18.3M$44.9M50xas long as short
Coinbase International HYPE-PERP-INTX+0.0144%1h93.540+0.070%$4.9M$5.5M50xas long as short
Injective HYPE/USDC PERP+0.0205%1h93.570+0.102%$30K$338K12xas long as short
BloFin HYPE-USDT+0.0217%4h93.624+0.159%$17.0M$12.0M75xas long as short
RISEx HYPE/USDC+0.0222%1h93.510+0.037%$2.7M$6.7M20xas long as short
Kalshi KXHYPEPERP+0.0246%8h93.839+0.389%$1.9M$5.1M2.3xas long as short
Reya HYPERUSDPERP+0.0253%1h93.451−0.026%$79K$143K15xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0333% / S −0.0157%1h93.476+0.001%$1.4M100xas long as short
HTX HYPE-USDT+0.0355%4h93.650+0.187%$1.5M$6.0M75xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0552%1h93.568+0.099%$7.4M$4.6M50xas long as short
Kraken Futures PF_HYPEUSD+0.0675%1h93.532+0.061%$20.9M$29.8M50xas long as short