Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.044%

Price spread now: ApeX Omni against Hyperliquid−0.093%7-day average −0.038% · you buy dearer than you sell

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$400.399% of the position

Long on Hyperliquid Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.043%−$4 on $10k

Price spread, last 4 days (all we have)+0.888%+$89 · spread now −0.093%, 7d avg −0.038%

Together, before fees+0.845%+ Points / potential airdropHyperliquid: Season 2 · farm board+$84 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 0.055% cheaper against Hyperliquid than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.038%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid LINK	12.911	0.0100	pay 0.0013% / 1h	54m 48s	$80.6M	$27.9M	10x
Short	ApeX Omni LINKUSDT	12.899	0.0100	get 0.0013% / 1h	54m 48s	$132K	$670K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Hyperliquid. 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 HyperliquidbpFee ApeX OmnibpOrdersPrice spread, now −0.093%Rate

Funding earned: $0
Price spread: −0.093% → −0.038%: −$5.54
Slippage, 4 orders: −$20.93
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$45.47
Costs to cover: 0.399%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 9 min ago; ApeX Omni: live order book, 43 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 Hyperliquid live order book, 9 min ago	0.39 bp	5.9 bp −$6	9.3 bp −$93	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 43 min ago	5.44 bp	14.3 bp −$14	104.3 bp −$1,043	doesn't fit	doesn't fit

LINK on 40 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
Orderly PERP_LINK_USDC	−0.0102%	8h	12.872	−0.302%	$90K	$1.0M	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	12.885	−0.201%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.885	−0.204%	$513K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.883	−0.217%	$155K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.958%	$4K	$48K	12x	as long as short
Kraken Futures PF_LINKUSD	+0.0049%	1h	12.884	−0.206%	$6.4M	$8.4M	50x	as long as short
Phoenix LINK	+0.0074%	1h	12.910	−0.009%	$3K	$85K	10x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0084%	1h	12.884	−0.208%	$806K	$268K	50x	as long as short
Lighter LINK	+0.0096%	1h	12.904	−0.058%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.875	−0.282%	$31K	$2K	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	12.873	−0.290%	$348K	$336K	10x	as long as short
Hyperliquid LINKlong	+0.0100%	1h	12.911	long leg	$80.6M	$27.9M	10x
Aster LINKUSDT	+0.0100%	8h	12.905	−0.044%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.903	−0.058%	$274K	$182K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.905	−0.045%	$119.1M	$297.8M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.895	−0.124%	$83.6M	$73.1M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.896	−0.116%	$27.1M	$80.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.894	−0.132%	$180K	$99K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.908	−0.023%	$134.0M	$17.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.903	−0.062%	$34.8M	$57.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.915	+0.031%	$22.9M	$12.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.903	−0.062%	$53.9M	$30.2M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.908	−0.023%	—	$23.2M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.891	−0.152%	$3.3M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.910	−0.007%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.889	−0.168%	$578K	$3.0M	10x	as long as short
ApeX Omni LINKUSDTshort	+0.0100%	1h	12.899	−0.093%	$132K	$670K	50x
Polymarket Perps LINK-USD	+0.0100%	1h	12.880	−0.240%	$82K	$71K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.919	+0.065%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.893	−0.143%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.883	−0.217%	$10K	$62K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.869	−0.323%	$629K	$750K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.906	−0.042%	$617K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.882	−0.225%	$540K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0125%	1h	12.899	−0.093%	$335K	$385K	15x	as long as short
Coinbase International LINK-PERP-INTX	+0.0184%	1h	12.941	+0.232%	$930K	$3.1M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.878	−0.256%	$5.3M	$15.8M	75x	as long as short
dYdX LINK-USD	+0.0378%	1h	12.901	−0.080%	$344K	$45K	10x	as long as short
Reya LINKRUSDPERP	+0.0402%	1h	12.878	−0.255%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.1086%	8h	12.899	−0.093%	$19.9M	$11.5M	50x	as long as short