HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0240%/8h= +26.3% APRnext payment +$0.30 per $10,000 · paid last 24h +0.027%

Price spread now: Kraken Futures against ApeX Omni+0.021%7-day average +0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$400.398% of the position

Long on ApeX Omni Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.101%+$10 on $10k

Price spread, last 4 days (all we have)−0.077%−$8 · spread now +0.021%, 7d avg +0.043%

Together, before fees+0.024%+$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.021% cheaper against ApeX Omni than usual: you would sell low and buy high (spread +0.021% now, against its 7-day average of +0.043%). If the spread goes back, that is −$2 on $10k: about 7 hours of funding at the current rate (+$7 a day). At the pace of the last 7 days (+0.101% in total) that is about 35 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.101% in total (about 5.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.30 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni HYPEUSDT	92.216	0.0094	pay 0.0012% / 1h	44m 25s	$337K	$1.0M	50x
Short	Kraken Futures PF_HYPEUSD	92.236	0.0334	get 0.0042% / 1h	44m 25s	$20.5M	$30.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.021%Rate

Funding earned: $50.43
Price spread: +0.021% → +0.043%: −$2.12
Slippage, 4 orders: −$19.76
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $8.56
Costs to cover: 0.398%
Break-even: 5.8 days

Slippage from ApeX Omni: live order book, 5 min ago; Kraken Futures: 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 ApeX Omni live order book, 5 min ago	4.01 bp	9.8 bp −$10	13.1 bp −$131	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 5 min ago	1.14 bp	7.9 bp −$8	9.9 bp −$99	17.9 bp −$1,792	54.6 bp −$27.3K

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	92.241	+0.027%	$1.2M	$3.8M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0568%	1h	92.240	+0.026%	$193K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0155%	1h	92.323	+0.116%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0128%	1h	92.288	+0.078%	$85K	$353K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.202	−0.015%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0070%	4h	92.240	+0.026%	$157K	$663K	20x	as long as short
Bullet HYPE-USD	−0.0060%	1h	92.260	+0.048%	$110K	$579K	20x	as long as short
Aster HYPEUSDT	−0.0012%	4h	92.242	+0.029%	$8.7M	$36.4M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.238	+0.024%	$126K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.292	+0.083%	$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	92.278	+0.067%	$61K	—	150x	as long as short
Ondo Perps HYPE-USD.P	+0.0019%	1h	92.200	−0.017%	$696K	$1.1M	10x	as long as short
BingX HYPE-USDT	+0.0030%	4h	92.262	+0.050%	—	$53.3M	—	as long as short
Phoenix HYPE	+0.0043%	1h	92.430	+0.232%	$209K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0047%	8h	92.254	+0.041%	$315.6M	$281.0M	75x	as long as short
Gate HYPE_USDT	+0.0052%	4h	92.273	+0.062%	$44.3M	$54.7M	75x	as long as short
Derive HYPE-PERP	+0.0060%	1h	92.227	+0.012%	$16.0M	$7.5M	10x	as long as short
Phemex HYPEUSDT	+0.0067%	8h	92.180	−0.039%	$12.4M	$2.7M	50x	as long as short
MEXC HYPE_USDT	+0.0074%	4h	92.333	+0.127%	$87.1M	$80.4M	100x	as long as short
Binance HYPEUSDT	+0.0075%	4h	92.269	+0.058%	$369.9M	$898.2M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0076%	8h	92.273	+0.062%	$112.8M	$301.3M	50x	as long as short
edgeX HYPEUSDC	+0.0078%	4h	92.205	−0.012%	$4.9M	$29.5M	30x	as long as short
Popdex HYPEUSDT	+0.0088%	1h	92.293	+0.083%	$67K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0091%	8h	92.292	+0.082%	$338K	$163K	20x	as long as short
ApeX Omni HYPEUSDTlong	+0.0094%	1h	92.216	long leg	$337K	$1.0M	50x
Lighter HYPE	+0.0096%	1h	92.277	+0.066%	$16.0M	$62.3M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.258	+0.046%	$3.1M	$11.6M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	92.257	+0.044%	$390K	$164K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.260	+0.048%	$23K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.296	+0.087%	$5.8M	$43.2M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.343	+0.138%	$2.01B	$664.6M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.285	+0.075%	$10.0M	$15.0M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.245	+0.032%	$201K	$13K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.244	+0.030%	$45.7M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.257	+0.044%	$223.8M	$98.3M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.164	−0.056%	$7.2M	$10.2M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.158	−0.063%	$28.3M	$57.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.327	+0.120%	$7.5M	$45.9M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.228	+0.013%	$662K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.321	+0.114%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.304	+0.095%	$475K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.235	+0.021%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.176	−0.043%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.348	+0.143%	$1.4M	$6.2M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.269	+0.057%	$18.1M	$43.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	92.170	−0.050%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.220	+0.004%	$4.7M	$5.5M	50x	as long as short
Bluefin HYPE-PERP	+0.0206%	1h	92.230	+0.015%	$78K	$169K	20x	as long as short
Kalshi KXHYPEPERP	+0.0259%	8h	92.252	+0.039%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0261%	1h	92.317	+0.110%	$78K	$140K	15x	as long as short
BloFin HYPE-USDT	+0.0299%	4h	92.165	−0.055%	$16.7M	$11.5M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0329% / S −0.0153%	1h	92.284	+0.073%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSDshort	+0.0334%	1h	92.236	+0.021%	$20.5M	$30.4M	50x
Deribit HYPE_USDC-PERPETUAL	+0.0563%	1h	92.285	+0.075%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.361	+0.157%	$3.1M	$6.4M	20x	as long as short