Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.002%

Price spread now: Pacifica against ApeX Omni+0.145%111s7-day average +0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as 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−$270.272% of the position

Long on ApeX Omni Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.091%−$9 on $10k

Price spread, last 7 days−0.113%−$11 · spread now +0.145%, 7d avg +0.010%

Together, before fees−0.204%+ Points / potential airdropPacifica: Active · farm board−$20 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: Pacifica is 0.135% dearer against ApeX Omni than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of +0.010%. The two prices were read 111 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	92.186	0.0100	pay 0.0013% / 1h	41m 47s	$337K	$1.0M	50x
Short	Pacifica HYPE	92.320	0.0100	get 0.0013% / 1h	41m 47s	$10.0M	$15.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.145%Rate

Funding earned: $0
Price spread: +0.145% → +0.010%: $13.51
Slippage, 4 orders: −$9.21
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$13.7
Costs to cover: 0.272%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 2 min ago; Pacifica: live order book, 2 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, 2 min ago	2.27 bp	10.1 bp −$10	13.2 bp −$132	doesn't fit	doesn't fit
Sell Pacifica live order book, 2 min ago	0.05 bp	4.5 bp −$5	doesn't fit	doesn't fit	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
Arcus HYPE-USD	−0.0948%	1h	92.226	+0.043%	$1.2M	$3.8M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0520%	1h	92.314	+0.139%	$193K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0165%	1h	92.313	+0.137%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0128%	1h	92.222	+0.039%	$85K	$355K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.205	+0.021%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0070%	4h	92.195	+0.010%	$157K	$663K	20x	as long as short
Bullet HYPE-USD	−0.0059%	1h	92.203	+0.018%	$110K	$579K	20x	as long as short
Aster HYPEUSDT	−0.0007%	4h	92.264	+0.084%	$8.7M	$36.4M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.312	+0.137%	$127K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.214	+0.030%	$22K	$310K	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.231	+0.049%	$61K	—	150x	as long as short
Ondo Perps HYPE-USD.P	+0.0020%	1h	92.240	+0.059%	$695K	$1.1M	10x	as long as short
BingX HYPE-USDT	+0.0030%	4h	92.290	+0.113%	—	$53.3M	—	as long as short
Phoenix HYPE	+0.0043%	1h	92.246	+0.065%	$209K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0050%	8h	92.290	+0.113%	$315.6M	$281.2M	75x	as long as short
Gate HYPE_USDT	+0.0056%	4h	92.282	+0.104%	$44.3M	$54.9M	75x	as long as short
Derive HYPE-PERP	+0.0070%	1h	92.190	+0.004%	$16.0M	$7.5M	10x	as long as short
Phemex HYPEUSDT	+0.0074%	8h	92.240	+0.059%	$12.5M	$2.7M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0077%	8h	92.300	+0.124%	$112.9M	$301.9M	50x	as long as short
edgeX HYPEUSDC	+0.0078%	4h	92.205	+0.020%	$4.9M	$29.5M	30x	as long as short
MEXC HYPE_USDT	+0.0080%	4h	92.295	+0.118%	$87.1M	$80.5M	100x	as long as short
Binance HYPEUSDT	+0.0081%	4h	92.295	+0.118%	$370.0M	$899.7M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0091%	8h	92.331	+0.158%	$338K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.305	+0.129%	$16.0M	$62.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.305	+0.129%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.216	+0.033%	$68K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.200	+0.015%	$31K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.188	+0.002%	$6.0M	$43.3M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.338	+0.164%	$2.01B	$665.2M	10x	as long as short
Pacifica HYPEshort	+0.0100%	1h	92.320	+0.145%	$10.0M	$15.0M	20x
Bulk HYPE-USD	+0.0100%	1h	92.245	+0.064%	$201K	$13K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.299	+0.123%	$45.8M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.308	+0.132%	$223.9M	$98.4M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.237	+0.055%	$7.3M	$10.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.158	−0.030%	$28.3M	$57.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.209	+0.025%	$7.5M	$45.9M	10x	as long as short
ApeX Omni HYPEUSDTlong	+0.0100%	1h	92.186	long leg	$337K	$1.0M	50x
StandX HYPE-USD	+0.0100%	1h	92.325	+0.151%	$663K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.272	+0.093%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.228	+0.046%	$474K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.218	+0.035%	$78K	$169K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.252	+0.072%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.230	+0.048%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.368	+0.197%	$1.4M	$6.2M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.234	+0.052%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.221	+0.037%	$390K	$164K	20x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	93.000	+0.883%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.230	+0.048%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0257%	8h	92.242	+0.061%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0261%	1h	92.201	+0.016%	$79K	$138K	15x	as long as short
BloFin HYPE-USDT	+0.0304%	4h	92.211	+0.027%	$16.7M	$11.5M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0154%	1h	92.234	+0.052%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0333%	1h	92.295	+0.118%	$20.5M	$30.4M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0552%	1h	92.324	+0.150%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.286	+0.109%	$3.1M	$6.4M	20x	as long as short