HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0057%/8h= −6.2% APRnext payment −$0.07 per $10,000 · paid last 24h +0.014%

Price spread now: Phoenix against ApeX Omni−0.109%7-day average +0.114% · you buy dearer than you sell

Net, funding: paid 7d − costs−$2as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$280.279% of the position

Long on ApeX Omni Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.255%+$26 on $10k

Price spread, last 7 days+0.256%+$26 · spread now −0.109%, 7d avg +0.114%

Together, before fees+0.512%+$51 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Phoenix is 0.222% cheaper against ApeX Omni than usual: you would sell low and buy high (−$22 if the spread goes back to its 7-day average of +0.114%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.255%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni HYPEUSDT	92.856	0.0100	pay 0.0013% / 1h	1m 24s	$350K	$1.0M	50x
Short	Phoenix HYPE	92.755	0.0043	get 0.0005% / 1h	1m 24s	$210K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.109%Rate

Funding earned: −$11.93
Price spread: −0.109% → +0.114%: −$22.24
Slippage, 4 orders: −$10.92
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$62.1
Costs to cover: 0.279%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 3 min ago; Phoenix: 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, 3 min ago	2.05 bp	9.2 bp −$9	14.6 bp −$146	doesn't fit	doesn't fit
Sell Phoenix live order book, 2 min ago	1.08 bp	5.6 bp −$6	9.6 bp −$96	133.6 bp −$13.4K	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	92.859	+0.003%	$1.1M	$3.9M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0424%	1h	92.753	−0.111%	$194K	$225K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0277%	1h	92.822	−0.037%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.875	+0.020%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0064%	4h	92.852	−0.004%	$157K	$653K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.865	+0.010%	$127K	$29K	5x	as long as short
01 Exchange HYPEUSD	0.0000%	1h	92.919	+0.068%	$86K	$361K	20x	as long as short
Perpl HYPE	0.0000%	43m	92.890	+0.037%	$22K	$302K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.898	+0.045%	$62K	—	150x	as long as short
Phemex HYPEUSDT	+0.0025%	8h	92.865	+0.010%	$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
Bullet HYPE-USD	+0.0031%	1h	92.850	−0.006%	$111K	$579K	20x	as long as short
BingX HYPE-USDT	+0.0036%	4h	92.879	+0.025%	—	$53.5M	—	as long as short
Ondo Perps HYPE-USD.P	+0.0042%	1h	92.810	−0.050%	$698K	$1.1M	10x	as long as short
Phoenix HYPEshort	+0.0043%	1h	92.755	−0.109%	$210K	$1.2M	10x
Bybit HYPEUSDT	+0.0045%	8h	92.870	+0.015%	$316.8M	$281.2M	75x	as long as short
Aster HYPEUSDT	+0.0068%	4h	92.887	+0.033%	$8.7M	$36.1M	300x	as long as short
Bitget HYPEUSDT	+0.0088%	4h	92.873	+0.018%	$224.8M	$98.7M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	92.901	+0.048%	$339K	$163K	20x	as long as short
edgeX HYPEUSDC	+0.0095%	4h	92.845	−0.012%	$4.9M	$29.6M	30x	as long as short
Lighter HYPE	+0.0096%	1h	92.887	+0.034%	$16.1M	$62.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.896	+0.043%	$3.1M	$11.8M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.903	+0.051%	$69K	$1.1M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0097%	8h	92.880	+0.026%	$113.9M	$303.6M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.880	+0.026%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.864	+0.009%	$7.4M	$45.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.916	+0.065%	$2.02B	$663.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.910	+0.058%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.898	+0.045%	$373.2M	$901.9M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.800	−0.060%	$202K	$13K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	92.904	+0.052%	$44.5M	$55.4M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.892	+0.039%	$88.2M	$81.2M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.904	+0.052%	$46.1M	$18.4M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.877	+0.023%	$7.3M	$11.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.689	−0.180%	$28.5M	$57.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.903	+0.051%	$7.5M	$46.3M	10x	as long as short
ApeX Omni HYPEUSDTlong	+0.0100%	1h	92.856	long leg	$350K	$1.0M	50x
StandX HYPE-USD	+0.0100%	1h	92.868	+0.013%	$667K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.919	+0.068%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.916	+0.065%	$469K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.867	+0.012%	$79K	$168K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.838	−0.019%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.839	−0.018%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.882	+0.028%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.000	+0.155%	$1.4M	$6.3M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.877	+0.023%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.850	−0.006%	$393K	$164K	20x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	92.960	+0.112%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.920	+0.069%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0226%	8h	92.925	+0.074%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0263%	1h	92.874	+0.019%	$79K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.867	+0.011%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0331%	1h	92.962	+0.114%	$7.5M	$4.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0331%	1h	92.933	+0.083%	$20.6M	$30.4M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.869	+0.014%	$16.8M	$11.6M	75x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.962	+0.114%	$3.2M	$6.4M	20x	as long as short