Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:40 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.020%

Price spread now: Perpl against ApeX Omni+0.014%7-day average +0.010% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on ApeX Omni Short on Perpl

What this pair did over the last

the charts below follow

Funding, last 7 days−0.151%−$15 on $10k

Price spread, last 4 days (all we have)+0.164%+$16 · spread now +0.014%, 7d avg +0.010%

Together, before fees+0.013%+ Points / potential airdropPerpl: Active · farm board+$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.010%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni HYPEUSDT	94.175	0.0100	pay 0.0013% / 1h	2m 45s	$347K	$1.0M	50x
Short	Perpl HYPE	94.188	0	get 0.0000% / 43m	8m 45s	$19K	$287K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Perpl 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 PerplbpOrdersPrice spread, now +0.014%Rate

Funding earned: −$21
Price spread: +0.014% → +0.010%: $0.45
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Net: −$44.35
Costs to cover: 0.238%
Break-even: never at this rate

Slippage unknown: ApeX Omni: live order book, 1 min ago; Perpl: no order-book sample. Net counts fees only.

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	3.82 bp	8.8 bp −$9	12.9 bp −$129	doesn't fit	doesn't fit
Sell Perpl no order-book sample	—	—	—	—	—

Perpl: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1088%	1h	94.070	−0.112%	$201K	$235K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0165%	1h	94.260	+0.090%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0106%	1h	94.100	−0.080%	$710K	$1.2M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.200	+0.027%	$3K	$331	25x	as long as short
Bluefin HYPE-PERP	−0.0078%	1h	94.127	−0.051%	$80K	$155K	20x	as long as short
Bullet HYPE-USD	−0.0074%	1h	94.175	0.000%	$111K	$578K	20x	as long as short
01 Exchange HYPEUSD	−0.0056%	1h	94.196	+0.022%	$87K	$366K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0009%	4h	94.144	−0.033%	$146K	$685K	20x	as long as short
Bybit HYPEUSDT	−0.0008%	8h	94.160	−0.016%	$317.2M	$289.5M	75x	as long as short
BingX HYPE-USDT	−0.0006%	4h	94.191	+0.017%	—	$53.5M	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX HYPE-USD	0.0000%	1h	94.178	+0.004%	$129K	$26K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.262	+0.092%	$1.8M	$5.6M	2.3x	as long as short
Perpl HYPEshort	0.0000%	43m	94.188	+0.014%	$19K	$287K	10x
Derive HYPE-PERP	+0.0001%	1h	94.110	−0.069%	$16.4M	$7.5M	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.180	+0.005%	$117K	—	150x	as long as short
Phoenix HYPE	+0.0017%	1h	94.230	+0.058%	$206K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0048%	4h	94.165	−0.011%	$226.5M	$100.1M	75x	as long as short
Phemex HYPEUSDT	+0.0056%	8h	94.221	+0.049%	$12.9M	$2.9M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0064%	8h	94.226	+0.054%	$337K	$156K	20x	as long as short
edgeX HYPEUSDC	+0.0081%	4h	94.163	−0.013%	$5.0M	$30.7M	30x	as long as short
Arcus HYPE-USD	+0.0084%	1h	94.170	−0.005%	$1.0M	$3.5M	10x	as long as short
OKX HYPE-USDT-SWAP	+0.0093%	8h	94.191	+0.017%	$116.9M	$321.4M	50x	as long as short
Lighter HYPE	+0.0096%	1h	94.235	+0.064%	$16.3M	$64.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.215	+0.042%	$3.2M	$11.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.175	0.000%	$79K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.210	+0.037%	$15K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.174	−0.001%	$7.3M	$50.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.281	+0.113%	$2.07B	$688.7M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.185	+0.011%	$8.8M	$37.2M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.226	+0.054%	$10.2M	$15.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.177	+0.002%	$376.9M	$932.0M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.183	+0.008%	$217K	$15K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.170	−0.005%	$49.4M	$57.2M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.184	+0.010%	$89.6M	$85.5M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.209	+0.036%	$46.9M	$18.6M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.197	+0.023%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.239	+0.067%	$29.1M	$55.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.188	+0.014%	$7.6M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDTlong	+0.0100%	1h	94.175	long leg	$347K	$1.0M	50x
StandX HYPE-USD	+0.0100%	1h	94.172	−0.003%	$681K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.238	+0.067%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.198	+0.024%	$495K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.219	+0.047%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.184	+0.010%	$2.1M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.322	+0.156%	$1.4M	$6.8M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.150	−0.027%	$18.3M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.192	+0.018%	$398K	$159K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	94.190	+0.016%	$4.7M	$6.2M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0151% / S +0.0023%	1h	94.226	+0.054%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.150	−0.027%	$30K	$340K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0228%	1h	94.269	+0.100%	$7.4M	$4.3M	50x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.152	−0.025%	$82K	$134K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.215	+0.042%	$17.0M	$12.3M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0413%	1h	94.264	+0.095%	$20.2M	$30.3M	50x	as long as short
RISEx HYPE/USDC	+0.0559%	1h	94.218	+0.046%	$3.2M	$6.4M	20x	as long as short