Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.001%

Price spread now: ApeX Omni against SoDEX−0.116%7-day average −0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$370.368% of the position

Long on SoDEX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.001%$0 on $10k

Price spread, last 4 days (all we have)+0.045%+$5 · spread now −0.116%, 7d avg −0.003%

Together, before fees+0.044%+$4 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 0.112% cheaper against SoDEX than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of −0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX HYPE-USD	94.289	0.0100	pay 0.0013% / 1h	10m 40s	$2.0M	$1.9M	10x
Short	ApeX Omni HYPEUSDT	94.180	0.0100	get 0.0013% / 1h	10m 40s	$344K	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against SoDEX. 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 SoDEXbpFee ApeX OmnibpOrdersPrice spread, now −0.116%Rate

Funding earned: $0
Price spread: −0.116% → −0.003%: −$11.24
Slippage, 4 orders: −$18.81
Fee SoDEX: 4 bp × 2 orders: −$8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$48.05
Costs to cover: 0.368%
Break-even: never at this rate

Slippage from SoDEX: live order book, 3 min ago; ApeX Omni: live order book, 8 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 SoDEX live order book, 3 min ago	0.37 bp	7.4 bp −$7	13.9 bp −$139	100.6 bp −$10.1K	doesn't fit
Sell ApeX Omni live order book, 8 min ago	5.85 bp	11.0 bp −$11	13.9 bp −$139	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	−0.1320%	1h	94.189	−0.106%	$200K	$239K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0373%	1h	94.067	−0.235%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.304	+0.016%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0015%	1h	94.274	−0.016%	$112K	$580K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0015%	4h	94.258	−0.033%	$147K	$677K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.279	−0.011%	$129K	$29K	5x	as long as short
01 Exchange HYPEUSD	0.0000%	1h	94.306	+0.018%	$86K	$370K	20x	as long as short
Perpl HYPE	0.0000%	43m	94.301	+0.013%	$22K	$291K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	94.290	+0.001%	$63K	—	150x	as long as short
Arcus HYPE-USD	+0.0011%	1h	94.296	+0.007%	$1.0M	$4.0M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit HYPEUSDT	+0.0021%	8h	94.284	−0.005%	$319.2M	$285.8M	75x	as long as short
Phemex HYPEUSDT	+0.0023%	8h	94.260	−0.031%	$12.8M	$2.8M	50x	as long as short
Phoenix HYPE	+0.0026%	1h	94.200	−0.094%	$209K	$1.2M	10x	as long as short
Bitget HYPEUSDT	+0.0026%	4h	94.310	+0.022%	$227.5M	$99.2M	75x	as long as short
Ondo Perps HYPE-USD.P	+0.0069%	1h	94.220	−0.073%	$711K	$1.2M	10x	as long as short
edgeX HYPEUSDC	+0.0084%	4h	94.154	−0.143%	$5.0M	$30.1M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	94.313	+0.026%	$343K	$158K	20x	as long as short
Lighter HYPE	+0.0096%	1h	94.312	+0.024%	$16.4M	$63.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.318	+0.031%	$3.2M	$11.6M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.300	+0.012%	$72K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.280	−0.010%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.269	−0.021%	$7.2M	$49.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.389	+0.106%	$2.07B	$679.4M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.315	+0.028%	$8.8M	$36.6M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.318	+0.031%	$10.2M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.305	+0.017%	$378.4M	$922.6M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	94.300	+0.012%	$116.4M	$316.8M	50x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.318	+0.031%	$48.2M	$55.6M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.297	+0.008%	$90.2M	$82.2M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.325	+0.038%	$46.6M	$18.8M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.306	+0.018%	—	$53.6M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.318	+0.031%	$7.2M	$10.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.239	−0.054%	$28.9M	$56.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.125	−0.174%	$7.7M	$48.4M	10x	as long as short
ApeX Omni HYPEUSDTshort	+0.0100%	1h	94.180	−0.116%	$344K	$1.0M	50x
StandX HYPE-USD	+0.0100%	1h	94.243	−0.049%	$674K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.347	+0.062%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.309	+0.021%	$479K	$2.8M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	94.276	−0.014%	$80K	$166K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	94.272	−0.018%	$16.2M	$7.4M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.350	+0.065%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USDlong	+0.0100%	1h	94.289	long leg	$2.0M	$1.9M	10x
HTX HYPE-USDT	+0.0100%	4h	94.426	+0.145%	$1.4M	$6.6M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.197	−0.097%	$217K	$15K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.293	+0.004%	$18.3M	$43.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.266	−0.025%	$398K	$159K	20x	as long as short
Kalshi KXHYPEPERP	+0.0122%	8h	94.325	+0.038%	$1.8M	$5.6M	2.3x	as long as short
Injective HYPE/USDC PERP	+0.0122%	1h	94.230	−0.063%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	94.290	+0.001%	$4.7M	$6.1M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0163%	1h	94.367	+0.083%	$7.5M	$4.1M	50x	as long as short
Reya HYPERUSDPERP	+0.0270%	1h	94.291	+0.003%	$78K	$130K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0333% / S −0.0154%	1h	94.298	+0.009%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0338%	1h	94.363	+0.078%	$21.0M	$29.5M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.229	−0.064%	$16.8M	$12.2M	75x	as long as short
RISEx HYPE/USDC	+0.0527%	1h	94.356	+0.071%	$3.2M	$6.3M	20x	as long as short