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Funding arb · Price arb /

HYPE

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 22:00 UTC+0.0474%/8h= +51.9% APRnext payment +$0.59 per $10,000 · paid last 24h +0.051%
Price spread now: Kraken Futures against Arcus+0.168%7-day average +0.068% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$5as in the Price arb table
costs, in and out, $10k−$150.154% of the position
Long on ArcusShort on Kraken Futures
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.092%+$9 on $10k
Price spread, last 3 days (all we have)−0.234%−$23 · spread now +0.168%, 7d avg +0.068%
Together, before fees−0.142%−$14 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Kraken Futures is 0.100% dearer against Arcus than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.068%.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.092% in total (about 10.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.59 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongArcus HYPE-USD93.2700.0100pay 0.0013% / 1h1m 47s$1.2M$4.0M10x
ShortKraken Futures PF_HYPEUSD93.4270.0574get 0.0072% / 1h1m 47s$19.6M$26.8M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kraken Futures against Arcus. 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
$99.51
Price spread: +0.168% → +0.068%
$10.01
Slippage, 4 orders
−$0.87
Fee Arcus: 2.25 bp × 2 orders
−$4.5
Fee Kraken Futures: 5 bp × 2 orders
−$10
Net
$94.15
Costs to cover
0.154%
Break-even
0.4 days
Slippage from Arcus: live order book, 2 min ago; Kraken Futures: live order book, 2 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Arcus live order book, 2 min ago0.22 bp2.5 bp −$24.0 bp −$4020.1 bp −$2,012doesn't fit
Sell Kraken Futures live order book, 2 min ago0.05 bp5.1 bp −$55.1 bp −$518.8 bp −$87845.0 bp −$22.5K

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−0.0800%1h93.293+0.024%$197K$232K7xas long as short
Aftermath Perps HYPEUSD−0.0264%1h93.302+0.034%$22K$22K10xas long as short
Ondo Perps HYPE-USD.P−0.0222%1h93.230−0.043%$700K$933K10xas long as short
01 Exchange HYPEUSD−0.0080%1h93.322+0.056%$90K$360K20xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.284+0.015%$3K$33125xas long as short
Bullet HYPE-USD−0.0043%1h93.279+0.010%$111K$580K20xas long as short
Derive HYPE-PERP−0.0037%1h93.244−0.028%$16.4M$7.1M10xas long as short
dYdX HYPE-USD0.0000%1h93.280+0.011%$127K$32K5xas long as short
Kalshi KXHYPEPERP0.0000%8h93.392+0.131%$1.9M$5.3M2.3xas long as short
Perpl HYPE0.0000%43m93.313+0.046%$23K$334K10xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0001%1h93.335+0.069%$20K—150xas long as short
Aster HYPEUSDT+0.0010%4h93.276+0.006%$8.9M$35.8M300xas long as short
Bybit HYPEUSDT+0.0028%8h93.269−0.001%$324.9M$287.3M75xas long as short
Popdex HYPEUSDT+0.0032%1h93.298+0.030%$57K$1.2M50xas long as short
Gate HYPE_USDT+0.0036%4h93.275+0.005%$44.0M$58.1M75xas long as short
Orderly PERP_HYPE_USDC+0.0050%4h93.318+0.051%$167K$512K20xas long as short
Phoenix HYPE+0.0068%1h93.279+0.010%$215K$1.2M10xas long as short
Vest HYPE-PERP+0.0077%1h93.321+0.055%—$454K5xas long as short
SoDEX HYPE-USD+0.0094%1h93.297+0.029%$2.0M$2.0M10xas long as short
Bluefin HYPE-PERP+0.0095%1h93.287+0.018%$76K$168K20xas long as short
Lighter HYPE+0.0096%1h93.314+0.047%$18.6M$60.1M20xas long as short
Lighter RH HYPE+0.0096%1h93.305+0.038%$3.1M$12.4M20xas long as short
StandX HYPE-USD+0.0097%1h93.283+0.014%$674K$2.5M20xas long as short
Paradex HYPE-USD-PERP+0.0099%8h93.319+0.053%$339K$170K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.310+0.043%$37K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.297+0.029%$5.9M$44.1M10xas long as short
Hyperliquid HYPE+0.0100%1h93.330+0.064%$2.03B$671.6M10xas long as short
Pacifica HYPE+0.0100%1h93.308+0.041%$10.0M$14.4M20xas long as short
Binance HYPEUSDT+0.0100%4h93.284+0.015%$384.9M$889.1M75xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.261−0.010%$114.7M$314.7M50xas long as short
Arcus HYPE-USDlong+0.0100%1h93.270long leg$1.2M$4.0M10x
Bulk HYPE-USD+0.0100%1h93.285+0.016%$204K$12K10xas long as short
MEXC HYPE_USDT+0.0100%4h93.268−0.002%$92.7M$82.6M100xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.279+0.010%$46.2M$18.8M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.278+0.009%$226.6M$102.6M75xas long as short
BingX HYPE-USDT+0.0100%4h93.264−0.006%—$54.2M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.299+0.031%$7.9M$11.7M20xas long as short
Variational Omni HYPE+0.0100%8h93.211−0.063%$29.0M$50.3M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.271+0.001%$7.5M$45.0M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.255−0.016%$405K$1.0M50xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.334+0.069%$493K$2.6M20xas long as short
SunX HYPE-USDT+0.0100%4h93.329+0.063%$32K$1.6M20xas long as short
Phemex HYPEUSDT+0.0100%8h93.297+0.029%$12.7M$2.6M50xas long as short
Extended HYPE-USD+0.0104%1h93.252−0.019%$18.4M$41.8M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.313+0.046%$397K$318K20xas long as short
edgeX HYPEUSDC+0.0113%4h93.228−0.045%$5.1M$29.4M30xas long as short
Coinbase International HYPE-PERP-INTX+0.0208%1h93.390+0.129%$4.9M$5.7M50xas long as short
Reya HYPERUSDPERP+0.0246%1h93.297+0.028%$78K$158K15xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0275%1h93.404+0.144%$7.4M$4.6M50xas long as short
Injective HYPE/USDC PERP+0.0285%1h93.910+0.686%$31K$291K12xas long as short
HTX HYPE-USDT+0.0298%4h93.467+0.211%$1.5M$7.6M75xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0339% / S −0.0165%1h93.330+0.064%$1.4M—100xas long as short
BloFin HYPE-USDT+0.0340%4h93.243−0.029%$17.1M$12.4M75xas long as short
RISEx HYPE/USDC+0.0467%1h93.356+0.092%$2.8M$6.8M20xas long as short
Kraken Futures PF_HYPEUSDshort+0.0574%1h93.427+0.168%$19.6M$26.8M50x