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% APRnext payment −$0.00 per $10,000 · paid last 24h −0.012%

Price spread now: Nado against ApeX Omni+0.162%61s7-day average +0.014% · you sell dearer than you buy

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

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

costs, in and out, $10k−$240.241% of the position

Long on ApeX Omni Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.015%−$2 on $10k

Price spread, last 7 days−0.110%−$11 · spread now +0.162%, 7d avg +0.014%

Together, before fees−0.126%+ Points / potential airdropNado: Active · farm board−$13 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: Nado is 0.148% dearer against ApeX Omni than usual: you sell high and buy low, +$15 on $10k if it goes back to its 7-day average of +0.014%. The two prices were read 61 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	92.725	0.0100	pay 0.0013% / 1h	20m 05s	$340K	$1.0M	50x
Short	Nado HYPE-PERP	92.875	0.0100	get 0.0012% / 1h	20m 05s	$7.4M	$46.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.162%Rate

Funding earned: $0
Price spread: +0.162% → +0.014%: $14.79
Slippage, 4 orders: −$7.08
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$9.29
Costs to cover: 0.241%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 4 min ago; Nado: live order book, 4 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, 4 min ago	2.54 bp	8.5 bp −$9	11.9 bp −$119	doesn't fit	doesn't fit
Sell Nado live order book, 4 min ago	0.05 bp	4.4 bp −$4	6.6 bp −$66	25.0 bp −$2,497	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	−0.1720%	1h	92.759	+0.037%	$194K	$232K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0299%	1h	92.824	+0.107%	$22K	$21K	10x	as long as short
Arcus HYPE-USD	−0.0194%	1h	92.866	+0.152%	$1.0M	$3.9M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.882	+0.169%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0057%	4h	92.954	+0.247%	$145K	$681K	20x	as long as short
Bullet HYPE-USD	−0.0003%	1h	92.929	+0.220%	$112K	$577K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.850	+0.135%	$127K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.876	+0.163%	$22K	$293K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.967	+0.261%	$62K	—	150x	as long as short
Ondo Perps HYPE-USD.P	+0.0018%	1h	92.860	+0.146%	$697K	$1.1M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange HYPEUSD	+0.0024%	1h	92.923	+0.214%	$87K	$364K	20x	as long as short
Phoenix HYPE	+0.0026%	1h	92.921	+0.211%	$208K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0032%	8h	92.955	+0.248%	$316.2M	$283.1M	75x	as long as short
Popdex HYPEUSDT	+0.0040%	1h	92.900	+0.189%	$81K	$1.1M	50x	as long as short
Bitget HYPEUSDT	+0.0044%	4h	92.950	+0.243%	$225.0M	$99.0M	75x	as long as short
Phemex HYPEUSDT	+0.0049%	8h	92.978	+0.273%	$12.6M	$2.7M	50x	as long as short
Lighter HYPE	+0.0096%	1h	92.987	+0.283%	$16.0M	$62.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.007	+0.304%	$3.1M	$11.6M	20x	as long as short
Gate HYPE_USDT	+0.0096%	4h	92.953	+0.246%	$45.2M	$54.5M	75x	as long as short
edgeX HYPEUSDC	+0.0098%	4h	92.694	−0.034%	$4.9M	$29.6M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	92.917	+0.207%	$339K	$163K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.900	+0.189%	$39K	$1.7M	10x	as long as short
Nado HYPE-PERPshort	+0.0100%	1h	92.875	+0.162%	$7.4M	$46.1M	10x
Hyperliquid HYPE	+0.0100%	1h	92.979	+0.274%	$2.02B	$667.8M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	92.961	+0.255%	$8.7M	$36.2M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	92.927	+0.217%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.974	+0.268%	$374.1M	$907.2M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	92.993	+0.289%	$114.0M	$304.8M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.709	−0.018%	$202K	$13K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.980	+0.275%	$91.5M	$81.2M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.999	+0.295%	$46.2M	$18.5M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	92.956	+0.249%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.981	+0.276%	$7.3M	$11.2M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.839	+0.123%	$28.5M	$57.2M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.808	+0.090%	$7.5M	$46.5M	10x	as long as short
ApeX Omni HYPEUSDTlong	+0.0100%	1h	92.725	long leg	$340K	$1.0M	50x
StandX HYPE-USD	+0.0100%	1h	92.846	+0.130%	$668K	$2.9M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.943	+0.235%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.935	+0.226%	$487K	$2.7M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.978	+0.273%	$79K	$166K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.950	+0.243%	$16.0M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.921	+0.211%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.008	+0.305%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.137	+0.444%	$1.4M	$6.3M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.985	+0.281%	$18.0M	$43.6M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.976	+0.271%	$393K	$164K	20x	as long as short
Kalshi KXHYPEPERP	+0.0121%	8h	92.980	+0.275%	$1.8M	$5.4M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.060	+0.361%	$4.7M	$5.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0197%	1h	93.086	+0.389%	$20.7M	$29.6M	50x	as long as short
Injective HYPE/USDC PERP	+0.0242%	1h	93.150	+0.458%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0266%	1h	92.952	+0.244%	$79K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.965	+0.259%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.872	+0.159%	$16.8M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0438%	1h	93.106	+0.411%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0598%	1h	92.959	+0.253%	$3.2M	$6.3M	20x	as long as short