Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.002%

Price spread now: ApeX Omni against Variational Omni+0.030%7-day average +0.019% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.001%$0 on $10k

Price spread, last 7 days−0.029%−$3 · spread now +0.030%, 7d avg +0.019%

Together, before fees−0.030%+ Points / potential airdropVariational Omni: Active · farm board−$3 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni HYPE	95.251	0.0100	pay 0.0100% / 8h	5h 52m	$30.0M	$53.1M	—
Short	ApeX Omni HYPEUSDT	95.279	0.0100	get 0.0013% / 1h	52m 47s	$347K	$882K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Variational Omni. 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 Variational OmnibpFee ApeX OmnibpOrdersPrice spread, now +0.030%Rate

Funding earned: $0
Price spread: +0.030% → +0.019%: $1.09
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$8.91
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; ApeX Omni: live order book, 54 min ago. Net counts fees only.

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 Variational Omni RFQ quote, 4 min ago	0.44 bp	doesn't fit	3.0 bp −$30	10.5 bp −$1,054	doesn't fit
Sell ApeX Omni live order book, 54 min ago	4.84 bp	10.3 bp −$10	13.5 bp −$135	doesn't fit	doesn't fit

HYPE on 54 exchanges

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	−0.1208%	1h	95.237	−0.014%	$213K	$261K	7x	as long as short
Phemex HYPEUSDT	−0.0277%	8h	95.208	−0.045%	$13.0M	$2.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	−0.0251%	1h	95.169	−0.085%	$18.5M	$35.2M	50x	as long as short
Ondo Perps HYPE-USD.P	−0.0160%	1h	95.160	−0.095%	$690K	$1.3M	10x	as long as short
Arcus HYPE-USD	−0.0130%	1h	95.153	−0.103%	$1.1M	$2.4M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0130%	1h	95.248	−0.003%	$22K	$17K	10x	as long as short
Bullet HYPE-USD	−0.0127%	1h	95.157	−0.098%	$114K	$581K	20x	as long as short
Lighter HYPE	−0.0104%	1h	95.106	−0.152%	$16.3M	$57.5M	20x	as long as short
01 Exchange HYPEUSD	−0.0096%	1h	95.145	−0.111%	$92K	$337K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	95.191	−0.063%	$3K	$331	25x	as long as short

Show all 54 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate HYPE_USDT	−0.0076%	4h	95.125	−0.132%	$54.7M	$53.1M	75x	as long as short
Coinbase International HYPE-PERP-INTX	−0.0056%	1h	95.190	−0.064%	$4.7M	$5.6M	50x	as long as short
Orderly PERP_HYPE_USDC	−0.0042%	4h	95.124	−0.133%	$148K	$643K	20x	as long as short
Aster HYPEUSDT	−0.0031%	4h	95.128	−0.128%	$9.0M	$32.9M	300x	as long as short
OKX HYPE-USDT-SWAP	−0.0012%	8h	95.087	−0.172%	$119.1M	$302.9M	50x	as long as short
Phoenix HYPE	−0.0008%	1h	95.326	+0.079%	$201K	$1.1M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	95.259	+0.009%	$129K	$94K	5x	as long as short
Popdex HYPEUSDT	0.0000%	1h	95.142	−0.114%	$274K	$1.0M	50x	as long as short
Perpl HYPE	0.0000%	43m	95.139	−0.117%	$24K	$251K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	95.192	−0.062%	$100K	—	150x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0002%	1h	95.244	−0.007%	$7.5M	$4.3M	50x	as long as short
SoDEX HYPE-USD	+0.0010%	1h	95.152	−0.104%	$2.1M	$373K	10x	as long as short
Bitget HYPEUSDT	+0.0018%	4h	95.100	−0.158%	$228.6M	$86.9M	75x	as long as short
Bybit HYPEUSDT	+0.0028%	8h	95.102	−0.156%	$320.3M	$266.0M	75x	as long as short
Bulk HYPE-USD	+0.0074%	1h	95.269	+0.019%	$232K	$12K	10x	as long as short
Paradex HYPE-USD-PERP	+0.0075%	8h	95.170	−0.085%	$340K	$35K	20x	as long as short
Bluefin HYPE-PERP	+0.0081%	1h	95.164	−0.091%	$79K	$136K	20x	as long as short
Binance HYPEUSDT	+0.0092%	4h	95.118	−0.139%	$382.4M	$854.7M	75x	as long as short
edgeX HYPEUSDC	+0.0092%	4h	95.253	+0.002%	$5.1M	$29.1M	30x	as long as short
MEXC HYPE_USDT	+0.0094%	4h	95.133	−0.124%	$90.2M	$83.1M	100x	as long as short
Lighter RH HYPE	+0.0096%	1h	95.169	−0.086%	$3.3M	$10.0M	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	95.120	−0.137%	$39K	$1.5M	10x	as long as short
Vest HYPE-PERP	+0.0100%	1h	95.222	−0.030%	—	$80K	5x	as long as short
Nado HYPE-PERP	+0.0100%	1h	95.154	−0.101%	$7.4M	$51.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	95.217	−0.035%	$2.11B	$645.7M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	95.191	−0.063%	$10.3M	$13.3M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	95.158	−0.097%	$48.1M	$17.6M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	95.123	−0.134%	—	$49.2M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	95.201	−0.052%	$7.9M	$10.4M	20x	as long as short
Variational Omni HYPElong	+0.0100%	8h	95.251	long leg	$30.0M	$53.1M	—
GRVT HYPE_USDT_Perp	+0.0100%	4h	95.290	+0.041%	$7.7M	$39.6M	10x	as long as short
ApeX Omni HYPEUSDTshort	+0.0100%	1h	95.279	+0.030%	$347K	$882K	50x
StandX HYPE-USD	+0.0100%	1h	95.216	−0.036%	$693K	$2.8M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	95.182	−0.072%	$504K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	95.223	−0.029%	$32K	$1.4M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.292	+0.043%	$1.4M	$5.4M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	95.122	−0.135%	$18.4M	$39.7M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	95.138	−0.119%	$402K	$130K	20x	as long as short
Kalshi KXHYPEPERP	+0.0125%	8h	95.256	+0.006%	$1.8M	$5.1M	2.3x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	95.182	−0.072%	$3.1M	$5.5M	20x	as long as short
Reya HYPERUSDPERP	+0.0270%	1h	95.118	−0.139%	$85K	$96K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0155%	1h	95.187	−0.067%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0336%	4h	95.165	−0.090%	$17.3M	$11.5M	75x	as long as short
Injective HYPE/USDC PERP	+0.0969%	1h	95.500	+0.262%	$31K	$334K	12x	as long as short