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Funding arb · Price arb /

HYPE

all HYPE markets
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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+0.0409%/8h= +44.8% APRnext payment +$0.51 per $10,000 · paid last 24h +0.016%
Price spread now: Phoenix against Aftermath Perps+0.060%63s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on Aftermath PerpsShort on Phoenix
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)—no history yet
Price spread, last 7 days—no price history on both exchanges yet
Together, before fees—needs both histories
Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Phoenix is 0.060% dearer against Aftermath Perps than usual: you sell high and buy low: +$6 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 63 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongAftermath Perps HYPEUSD93.863−0.0400get 0.0050% / 1h9m 37s$22K$22K10x
ShortPhoenix HYPE93.9190.0009get 0.0001% / 1h9m 37s$217K$1.2M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phoenix against Aftermath Perps. 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
$85.86
Price spread: +0.060% → 0.000%
$6
Slippage, 4 orders
no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders
−$9
Fee Phoenix: 3.5 bp × 2 orders
−$7
Net
$75.87
Costs to cover
0.160%
Break-even
0.8 days
Slippage unknown: Aftermath Perps: no order-book sample; Phoenix: live order book, 9 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Aftermath Perps no order-book sample—————
Sell Phoenix live order book, 9 min ago1.17 bp5.7 bp −$69.5 bp −$95117.2 bp −$11.7Kdoesn't fit
Aftermath Perps: 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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-P−0.1256%1h93.812−0.054%$199K$230K7xas long as short
Aftermath Perps HYPEUSDlong−0.0400%1h93.863long leg$22K$22K10x
Arcus HYPE-USD−0.0233%1h93.783−0.085%$1.2M$3.8M10xas long as short
Ondo Perps HYPE-USD.P−0.0111%1h93.820−0.045%$705K$917K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.927+0.069%$3K$33125xas long as short
01 Exchange HYPEUSD−0.0072%1h93.894+0.033%$86K$368K20xas long as short
Orderly PERP_HYPE_USDC−0.0003%4h93.918+0.059%$170K$590K20xas long as short
dYdX HYPE-USD0.0000%1h93.941+0.084%$128K$30K5xas long as short
Perpl HYPE0.0000%43m93.939+0.081%$23K$329K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0003%1h93.933+0.075%$27K—150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Phoenix HYPEshort+0.0009%1h93.919+0.060%$217K$1.2M10x
Derive HYPE-PERP+0.0011%1h93.847−0.017%$16.4M$7.1M10xas long as short
Aster HYPEUSDT+0.0015%4h93.900+0.040%$8.9M$36.1M300xas long as short
Bybit HYPEUSDT+0.0021%8h93.910+0.050%$323.1M$284.0M75xas long as short
Phemex HYPEUSDT+0.0041%8h93.840−0.024%$12.8M$2.6M50xas long as short
Binance HYPEUSDT+0.0051%4h93.915+0.056%$383.9M$898.3M75xas long as short
MEXC HYPE_USDT+0.0054%4h93.876+0.014%$88.4M$82.2M100xas long as short
edgeX HYPEUSDC+0.0061%4h93.800−0.066%$5.1M$29.6M30xas long as short
Popdex HYPEUSDT+0.0064%1h93.892+0.031%$60K$1.2M50xas long as short
Gate HYPE_USDT+0.0072%4h93.876+0.014%$44.1M$59.9M75xas long as short
Bullet HYPE-USD+0.0087%1h93.899+0.039%$113K$578K20xas long as short
OKX HYPE-USDT-SWAP+0.0090%8h93.915+0.056%$115.8M$322.9M50xas long as short
Lighter HYPE+0.0096%1h93.942+0.084%$18.9M$60.4M20xas long as short
Lighter RH HYPE+0.0096%1h93.940+0.082%$3.1M$12.3M20xas long as short
Aevo HYPE-PERP+0.0096%1h93.890+0.029%$399K$318K20xas long as short
Paradex HYPE-USD-PERP+0.0099%8h93.922+0.063%$341K$171K20xas long as short
Katana Perps HYPE-USD+0.0099%8h93.870+0.008%$38K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.912+0.053%$5.7M$44.4M10xas long as short
Hyperliquid HYPE+0.0100%1h94.007+0.154%$2.04B$679.0M10xas long as short
Pacifica HYPE+0.0100%1h93.906+0.046%$10.1M$14.5M20xas long as short
Bulk HYPE-USD+0.0100%1h93.889+0.028%$205K$7K10xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.888+0.027%$46.5M$18.6M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.934+0.076%$227.5M$102.3M75xas long as short
BingX HYPE-USDT+0.0100%4h93.874+0.012%—$54.2M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.927+0.069%$7.9M$10.4M20xas long as short
Variational Omni HYPE+0.0100%8h93.811−0.055%$31.2M$54.1M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.855−0.008%$7.6M$45.6M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.859−0.004%$359K$1.1M50xas long as short
StandX HYPE-USD+0.0100%1h93.889+0.028%$679K$2.5M20xas long as short
Vest HYPE-PERP+0.0100%1h93.946+0.089%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.965+0.109%$472K$2.5M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.909+0.049%$76K$171K20xas long as short
SunX HYPE-USDT+0.0100%4h93.977+0.122%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.891+0.030%$2.0M$2.0M10xas long as short
Injective HYPE/USDC PERP+0.0104%1h94.410+0.583%$31K$338K12xas long as short
Extended HYPE-USD+0.0104%1h93.8620.000%$18.3M$42.8M50xas long as short
Coinbase International HYPE-PERP-INTX+0.0152%1h94.010+0.157%$4.9M$5.7M50xas long as short
Kalshi KXHYPEPERP+0.0154%8h93.929+0.071%$1.9M$5.0M2.3xas long as short
HTX HYPE-USDT+0.0192%4h94.063+0.213%$1.5M$7.8M75xas long as short
BloFin HYPE-USDT+0.0212%4h93.801−0.066%$16.9M$12.6M75xas long as short
Reya HYPERUSDPERP+0.0249%1h93.932+0.074%$77K$142K15xas long as short
RISEx HYPE/USDC+0.0284%1h93.936+0.078%$2.8M$6.8M20xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0303%1h94.001+0.147%$7.5M$4.6M50xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0338% / S −0.0163%1h93.924+0.065%$1.4M—100xas long as short
Kraken Futures PF_HYPEUSD+0.0577%1h94.004+0.151%$21.0M$29.5M50xas long as short