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Funding arb · Price arb /

HYPE

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 23:00 UTC+0.0365%/8h= +40.0% APRnext payment +$0.46 per $10,000 · paid last 24h −0.001%
Price spread now: Kraken Futures against ApeX Omni+0.105%7-day average +0.041% · you sell dearer than you buy
Net, funding: paid 7d − costs−$28as in the Funding arb table
Net, price: spread back to 7d avg − costs−$27as in the Price arb table
costs, in and out, $10k−$340.338% of the position
Long on ApeX OmniShort on Kraken Futures
What this pair did over the last
the charts below follow
Funding, last 7 days+0.055%+$5 on $10k
Price spread, last 3 days (all we have)−0.091%−$9 · spread now +0.105%, 7d avg +0.041%
Together, before fees−0.036%−$4 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Kraken Futures is 0.064% dearer against ApeX Omni than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.041%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.055% in total (about 2.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.46 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongApeX Omni HYPEUSDT93.2250.0100pay 0.0013% / 1h44m 59s$412K$1.0M50x
ShortKraken Futures PF_HYPEUSD93.3220.0465get 0.0058% / 1h44m 59s$20.8M$28.6M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kraken Futures 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

Funding earned
$76.74
Price spread: +0.105% → +0.041%
$6.4
Slippage, 4 orders
−$13.83
Fee ApeX Omni: 5 bp × 2 orders
−$10
Fee Kraken Futures: 5 bp × 2 orders
−$10
Net
$49.31
Costs to cover
0.338%
Break-even
2.5 days
Slippage from ApeX Omni: live order book, 4 min ago; Kraken Futures: live order book, 4 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 ApeX Omni live order book, 4 min ago4.41 bp9.7 bp −$1013.3 bp −$133doesn't fitdoesn't fit
Sell Kraken Futures live order book, 4 min ago0.05 bp6.4 bp −$66.5 bp −$6514.3 bp −$1,42762.2 bp −$31.1K

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
Aftermath Perps HYPEUSD−0.0341%1h93.173−0.056%$22K$22K10xas long as short
Arcus HYPE-USD−0.0131%1h93.317+0.099%$1.2M$4.0M10xas long as short
Hibachi HYPE/USDT-P−0.0104%1h93.251+0.028%$197K$230K7xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.359+0.144%$3K$33125xas long as short
Ondo Perps HYPE-USD.P−0.0024%1h93.290+0.070%$699K$925K10xas long as short
dYdX HYPE-USD0.0000%1h93.350+0.134%$127K$32K5xas long as short
01 Exchange HYPEUSD0.0000%1h93.377+0.163%$90K$362K20xas long as short
Kalshi KXHYPEPERP0.0000%8h93.433+0.223%$1.9M$5.3M2.3xas long as short
Perpl HYPE0.0000%43m93.344+0.127%$23K$331K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0001%1h93.315+0.097%$20K—150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Popdex HYPEUSDT+0.0008%1h93.354+0.138%$57K$1.2M50xas long as short
Aster HYPEUSDT+0.0011%4h93.266+0.044%$8.9M$36.0M300xas long as short
Derive HYPE-PERP+0.0016%1h93.160−0.070%$16.3M$7.1M10xas long as short
Bybit HYPEUSDT+0.0031%8h93.208−0.018%$323.8M$286.9M75xas long as short
Phoenix HYPE+0.0034%1h93.278+0.057%$216K$1.2M10xas long as short
Orderly PERP_HYPE_USDC+0.0039%4h93.224−0.001%$171K$521K20xas long as short
Gate HYPE_USDT+0.0070%4h93.208−0.018%$43.7M$57.7M75xas long as short
Lighter HYPE+0.0096%1h93.265+0.043%$18.5M$58.6M20xas long as short
Lighter RH HYPE+0.0096%1h93.235+0.011%$3.0M$12.1M20xas long as short
MEXC HYPE_USDT+0.0098%4h93.207−0.019%$90.3M$81.6M100xas long as short
Paradex HYPE-USD-PERP+0.0099%8h93.369+0.155%$339K$170K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.350+0.134%$40K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.353+0.138%$5.9M$44.1M10xas long as short
Hyperliquid HYPE+0.0100%1h93.250+0.027%$2.03B$671.9M10xas long as short
Pacifica HYPE+0.0100%1h93.378+0.164%$10.0M$14.3M20xas long as short
Binance HYPEUSDT+0.0100%4h93.214−0.012%$383.1M$892.1M75xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.228+0.003%$114.0M$314.4M50xas long as short
Bulk HYPE-USD+0.0100%1h92.884−0.366%$203K$10K10xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.228+0.003%$47.2M$18.9M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.255+0.032%$226.0M$102.7M75xas long as short
BingX HYPE-USDT+0.0100%4h93.212−0.014%—$54.1M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.234+0.010%$7.8M$11.5M20xas long as short
Variational Omni HYPE+0.0100%8h93.236+0.012%$28.9M$50.6M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.215−0.011%$7.5M$45.5M10xas long as short
ApeX Omni HYPEUSDTlong+0.0100%1h93.225long leg$412K$1.0M50x
StandX HYPE-USD+0.0100%1h93.204−0.023%$674K$2.5M20xas long as short
Vest HYPE-PERP+0.0100%1h93.362+0.147%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.380+0.166%$494K$2.6M20xas long as short
Bullet HYPE-USD+0.0100%1h93.301+0.082%$112K$579K20xas long as short
SunX HYPE-USDT+0.0100%4h93.399+0.187%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.191−0.036%$2.0M$2.0M10xas long as short
Phemex HYPEUSDT+0.0100%8h93.211−0.015%$12.7M$2.6M50xas long as short
Extended HYPE-USD+0.0104%1h93.218−0.008%$18.2M$42.2M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.235+0.011%$397K$318K20xas long as short
edgeX HYPEUSDC+0.0113%4h93.170−0.059%$5.1M$29.6M30xas long as short
Bluefin HYPE-PERP+0.0164%1h93.189−0.039%$76K$168K20xas long as short
Coinbase International HYPE-PERP-INTX+0.0176%1h93.390+0.177%$4.9M$5.7M50xas long as short
Injective HYPE/USDC PERP+0.0239%1h93.300+0.080%$30K$338K12xas long as short
Reya HYPERUSDPERP+0.0246%1h93.334+0.117%$78K$158K15xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0265%1h93.291+0.071%$7.4M$4.6M50xas long as short
HTX HYPE-USDT+0.0280%4h93.358+0.143%$1.5M$7.7M75xas long as short
RISEx HYPE/USDC+0.0280%1h93.413+0.201%$2.8M$6.8M20xas long as short
BloFin HYPE-USDT+0.0340%4h93.188−0.040%$16.9M$12.4M75xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0340% / S −0.0159%1h93.326+0.108%$1.5M—100xas long as short
Kraken Futures PF_HYPEUSDshort+0.0465%1h93.322+0.105%$20.8M$28.6M50x