Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.008%

Price spread now: Binance against ApeX Omni−0.146%69s7-day average +0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$280.281% of the position

Long on ApeX Omni Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.015%−$1 on $10k

Price spread, last 7 days+0.193%+$19 · spread now −0.146%, 7d avg +0.019%

Together, before fees+0.179%+$18 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: Binance is 0.166% cheaper against ApeX Omni than usual: you would sell low and buy high, −$17 on $10k if it goes back to its 7-day average of +0.019%. The two prices were read 69 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni HYPEUSDT	92.975	0.0100	pay 0.0013% / 1h	28m 18s	$341K	$1.0M	50x
Short	Binance HYPEUSDT	92.839	0.0100	get 0.0050% / 4h	3h 28m	$373.3M	$906.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against ApeX 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 ApeX OmnibpFee BinancebpOrdersPrice spread, now −0.146%Rate

Funding earned: $0
Price spread: −0.146% → +0.019%: −$16.56
Slippage, 4 orders: −$8.1
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$44.66
Costs to cover: 0.281%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 1 min ago; Binance: live order book, 16 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 ApeX Omni live order book, 1 min ago	2.32 bp	8.7 bp −$9	12.1 bp −$121	doesn't fit	doesn't fit
Sell Binance live order book, 16 min ago	0.05 bp	5.1 bp −$5	7.2 bp −$72	16.3 bp −$1,630	39.5 bp −$19.7K

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	−0.1568%	1h	92.719	−0.275%	$193K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0304%	1h	92.866	−0.117%	$22K	$21K	10x	as long as short
Arcus HYPE-USD	−0.0194%	1h	92.829	−0.157%	$1.1M	$3.9M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.866	−0.117%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0061%	4h	92.830	−0.156%	$145K	$681K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.906	−0.074%	$127K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.868	−0.115%	$22K	$295K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.865	−0.118%	$62K	—	150x	as long as short
Bullet HYPE-USD	+0.0016%	1h	92.810	−0.177%	$111K	$577K	20x	as long as short
Phoenix HYPE	+0.0026%	1h	92.857	−0.127%	$210K	$1.2M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps HYPE-USD.P	+0.0030%	1h	92.810	−0.177%	$699K	$1.1M	10x	as long as short
Bybit HYPEUSDT	+0.0032%	8h	92.834	−0.152%	$315.6M	$282.6M	75x	as long as short
01 Exchange HYPEUSD	+0.0040%	1h	92.857	−0.127%	$86K	$363K	20x	as long as short
Phemex HYPEUSDT	+0.0049%	8h	92.905	−0.075%	$12.5M	$2.7M	50x	as long as short
Bitget HYPEUSDT	+0.0054%	4h	92.850	−0.134%	$224.9M	$99.2M	75x	as long as short
Popdex HYPEUSDT	+0.0064%	1h	92.845	−0.140%	$70K	$1.1M	50x	as long as short
Lighter HYPE	+0.0096%	1h	92.888	−0.094%	$16.0M	$62.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.884	−0.098%	$3.1M	$11.6M	20x	as long as short
edgeX HYPEUSDC	+0.0097%	4h	92.935	−0.043%	$4.9M	$29.6M	30x	as long as short
Gate HYPE_USDT	+0.0098%	4h	92.837	−0.148%	$45.0M	$54.3M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	92.881	−0.101%	$339K	$163K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.860	−0.124%	$34K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.858	−0.125%	$7.4M	$46.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.892	−0.089%	$2.02B	$666.6M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	92.849	−0.136%	$8.7M	$36.1M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	92.871	−0.111%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDTshort	+0.0100%	4h	92.839	−0.146%	$373.3M	$906.2M	75x
OKX HYPE-USDT-SWAP	+0.0100%	8h	92.841	−0.144%	$113.9M	$304.1M	50x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.839	−0.146%	$91.4M	$81.0M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.844	−0.141%	$46.1M	$18.4M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	92.848	−0.137%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.879	−0.103%	$7.2M	$11.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.959	−0.017%	$28.6M	$57.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.003	+0.030%	$7.5M	$46.6M	10x	as long as short
ApeX Omni HYPEUSDTlong	+0.0100%	1h	92.975	long leg	$341K	$1.0M	50x
StandX HYPE-USD	+0.0100%	1h	92.879	−0.103%	$668K	$2.9M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.905	−0.075%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.881	−0.101%	$471K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.833	−0.153%	$79K	$167K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.832	−0.153%	$16.0M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.913	−0.067%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.879	−0.103%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.000	+0.027%	$1.4M	$6.3M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.770	−0.220%	$202K	$13K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.802	−0.187%	$18.0M	$43.6M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.847	−0.137%	$393K	$164K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	92.910	−0.070%	$4.7M	$5.6M	50x	as long as short
Kalshi KXHYPEPERP	+0.0161%	8h	92.927	−0.052%	$1.8M	$5.4M	2.3x	as long as short
Kraken Futures PF_HYPEUSD	+0.0197%	1h	92.934	−0.044%	$20.6M	$30.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0242%	1h	92.790	−0.199%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0265%	1h	92.837	−0.149%	$79K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.857	−0.127%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0331%	1h	92.939	−0.039%	$7.5M	$4.5M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.881	−0.101%	$16.8M	$11.6M	75x	as long as short
RISEx HYPE/USDC	+0.0598%	1h	92.910	−0.069%	$3.2M	$6.4M	20x	as long as short