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 −0.001%

Price spread now: ApeX Omni against SoDEX−0.079%74s7-day average −0.002% · you buy dearer than you sell

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−$290.291% of the position

Long on SoDEX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.001%$0 on $10k

Price spread, last 4 days (all we have)+0.152%+$15 · spread now −0.079%, 7d avg −0.002%

Together, before fees+0.151%+$15 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: ApeX Omni is 0.077% cheaper against SoDEX than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.002%. The two prices were read 74 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	SoDEX HYPE-USD	92.790	0.0100	pay 0.0013% / 1h	14m 05s	$2.0M	$2.0M	10x
Short	ApeX Omni HYPEUSDT	92.717	0.0100	get 0.0013% / 1h	14m 05s	$350K	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against SoDEX. 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 SoDEXbpFee ApeX OmnibpOrdersPrice spread, now −0.079%Rate

Funding earned: $0
Price spread: −0.079% → −0.002%: −$7.67
Slippage, 4 orders: −$11.05
Fee SoDEX: 4 bp × 2 orders: −$8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$36.72
Costs to cover: 0.291%
Break-even: never at this rate

Slippage from SoDEX: live order book, 5 min ago; ApeX Omni: live order book, 5 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 SoDEX live order book, 5 min ago	0.05 bp	6.8 bp −$7	12.1 bp −$121	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 5 min ago	2.37 bp	7.4 bp −$7	10.2 bp −$102	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	92.714	−0.082%	$1.1M	$3.9M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0248%	1h	92.690	−0.107%	$194K	$227K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0247%	1h	92.732	−0.063%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.772	−0.019%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0064%	4h	92.740	−0.054%	$157K	$666K	20x	as long as short
01 Exchange HYPEUSD	−0.0008%	1h	92.809	+0.020%	$87K	$361K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.780	−0.011%	$127K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.773	−0.018%	$22K	$302K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.789	−0.001%	$62K	—	150x	as long as short
Phemex HYPEUSDT	+0.0024%	8h	92.763	−0.029%	$12.5M	$2.7M	50x	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	+0.0032%	1h	92.670	−0.129%	$697K	$1.1M	10x	as long as short
Bullet HYPE-USD	+0.0032%	1h	92.751	−0.042%	$110K	$578K	20x	as long as short
BingX HYPE-USDT	+0.0038%	4h	92.781	−0.010%	—	$53.5M	—	as long as short
Phoenix HYPE	+0.0043%	1h	92.779	−0.012%	$210K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0045%	8h	92.770	−0.022%	$316.8M	$281.0M	75x	as long as short
Aster HYPEUSDT	+0.0048%	4h	92.784	−0.006%	$8.7M	$36.2M	300x	as long as short
OKX HYPE-USDT-SWAP	+0.0091%	8h	92.778	−0.013%	$113.7M	$303.6M	50x	as long as short
Gate HYPE_USDT	+0.0094%	4h	92.767	−0.025%	$44.5M	$55.3M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0094%	8h	92.786	−0.004%	$339K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.789	−0.002%	$16.0M	$62.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.799	+0.010%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.780	−0.011%	$69K	$1.1M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.730	−0.065%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.757	−0.036%	$7.1M	$45.3M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.828	+0.041%	$2.02B	$663.8M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.803	+0.014%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.778	−0.013%	$372.7M	$902.5M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.760	−0.032%	$202K	$13K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.788	−0.002%	$87.4M	$80.9M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.775	−0.016%	$46.1M	$18.4M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.782	−0.009%	$224.6M	$98.7M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.770	−0.022%	$7.3M	$11.1M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.669	−0.131%	$28.7M	$57.2M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.760	−0.032%	$7.5M	$46.5M	10x	as long as short
ApeX Omni HYPEUSDTshort	+0.0100%	1h	92.717	−0.079%	$350K	$1.0M	50x
StandX HYPE-USD	+0.0100%	1h	92.715	−0.081%	$666K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.814	+0.026%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.788	−0.002%	$469K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.759	−0.033%	$78K	$170K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.763	−0.029%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.774	−0.017%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USDlong	+0.0100%	1h	92.790	long leg	$2.0M	$2.0M	10x
HTX HYPE-USDT	+0.0100%	4h	92.918	+0.138%	$1.4M	$6.2M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.764	−0.028%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.786	−0.005%	$392K	$164K	20x	as long as short
edgeX HYPEUSDC	+0.0106%	4h	92.709	−0.088%	$5.0M	$29.6M	30x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	93.000	+0.226%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.820	+0.032%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0235%	8h	92.832	+0.045%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0262%	1h	92.767	−0.025%	$79K	$132K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.774	−0.018%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0331%	1h	92.847	+0.062%	$20.6M	$30.5M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0332%	1h	92.872	+0.088%	$7.5M	$4.5M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.766	−0.026%	$16.7M	$11.6M	75x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.839	+0.053%	$3.2M	$6.4M	20x	as long as short