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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 00:00 UTC+0.0530%/8h= +58.0% APRpaid last 24h +0.010%
Price spread now: Kraken Futures against Binance+0.104%7-day average +0.028% · you sell dearer than you buy
Net, funding: paid 7d − costs−$22as in the Funding arb table
Net, price: spread back to 7d avg − costs−$21as in the Price arb table
costs, in and out, $10k−$290.291% of the position
Long on BinanceShort on Kraken Futures
What this pair did over the last
the charts below follow
Funding, last 7 days+0.076%+$8 on $10k
Price spread, last 3 days (all we have)−0.128%−$13 · spread now +0.104%, 7d avg +0.028%
Together, before fees−0.052%−$5 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and Kraken Futures is 0.076% dearer against Binance than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.028%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.076% in total (about 3.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBinance HYPEUSDT93.9840.0047pay 0.0023% / 4h1m 53s$384.1M$898.7M75x
ShortKraken Futures PF_HYPEUSD94.0820.0577get 0.0072% / 1h1m 53s$21.0M$29.5M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kraken Futures against Binance. 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
$111.27
Price spread: +0.104% → +0.028%
$7.64
Slippage, 4 orders
−$9.13
Fee Binance: 5 bp × 2 orders
−$10
Fee Kraken Futures: 5 bp × 2 orders
−$10
Net
$89.78
Costs to cover
0.291%
Break-even
1.4 days
Slippage from Binance: live order book, 12 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 Binance live order book, 12 min ago0.05 bp5.1 bp −$57.1 bp −$7113.5 bp −$1,34930.7 bp −$15.3K
Sell Kraken Futures live order book, 2 min ago1.12 bp6.9 bp −$78.4 bp −$8415.9 bp −$1,58953.8 bp −$26.9K

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−0.1376%1h93.897−0.093%$199K$230K7xas long as short
Aftermath Perps HYPEUSD−0.0346%1h93.948−0.038%$22K$22K10xas long as short
Arcus HYPE-USD−0.0233%1h93.820−0.174%$1.2M$3.8M10xas long as short
Ondo Perps HYPE-USD.P−0.0130%1h93.950−0.036%$704K$925K10xas long as short
01 Exchange HYPEUSD−0.0080%1h93.924−0.064%$86K$368K20xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.931−0.056%$3K$33125xas long as short
Derive HYPE-PERP−0.0012%1h93.900−0.089%$16.4M$7.2M10xas long as short
dYdX HYPE-USD−0.0007%1h93.976−0.009%$128K$30K5xas long as short
Orderly PERP_HYPE_USDC−0.0006%4h93.9840.000%$169K$594K20xas long as short
Perpl HYPE0.0000%43m93.978−0.006%$23K$329K10xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0003%1h93.990+0.006%$27K—150xas long as short
Phoenix HYPE+0.0009%1h93.898−0.092%$217K$1.2M10xas long as short
Aster HYPEUSDT+0.0017%4h93.955−0.030%$8.9M$36.1M300xas long as short
Bybit HYPEUSDT+0.0018%8h93.967−0.018%$323.4M$283.9M75xas long as short
Phemex HYPEUSDT+0.0030%8h93.928−0.060%$12.8M$2.6M50xas long as short
MEXC HYPE_USDT+0.0046%4h93.9840.000%$88.4M$82.3M100xas long as short
Binance HYPEUSDTlong+0.0047%4h93.984long leg$384.1M$898.7M75x
edgeX HYPEUSDC+0.0064%4h93.859−0.133%$5.1M$29.7M30xas long as short
Popdex HYPEUSDT+0.0064%1h93.930−0.057%$60K$1.2M50xas long as short
Gate HYPE_USDT+0.0068%4h93.978−0.006%$44.2M$60.1M75xas long as short
Bullet HYPE-USD+0.0073%1h93.939−0.048%$112K$578K20xas long as short
OKX HYPE-USDT-SWAP+0.0088%8h93.9840.000%$116.0M$322.9M50xas long as short
Lighter HYPE+0.0096%1h94.029+0.048%$18.9M$60.5M20xas long as short
Lighter RH HYPE+0.0096%1h93.993+0.010%$3.1M$12.3M20xas long as short
Aevo HYPE-PERP+0.0096%1h93.967−0.018%$400K$318K20xas long as short
Katana Perps HYPE-USD+0.0099%8h93.990+0.006%$42K$1.6M10xas long as short
Paradex HYPE-USD-PERP+0.0099%8h93.960−0.026%$341K$171K20xas long as short
Nado HYPE-PERP+0.0100%1h93.941−0.045%$6.6M$44.9M10xas long as short
Hyperliquid HYPE+0.0100%1h94.073+0.095%$2.05B$680.1M10xas long as short
Pacifica HYPE+0.0100%1h93.951−0.035%$10.1M$14.5M20xas long as short
Bulk HYPE-USD+0.0100%1h93.889−0.101%$205K$7K10xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.996+0.013%$46.5M$18.6M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.999+0.016%$227.7M$102.0M75xas long as short
BingX HYPE-USDT+0.0100%4h93.982−0.002%—$54.0M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h94.001+0.018%$7.9M$10.4M20xas long as short
Variational Omni HYPE+0.0100%8h93.812−0.183%$31.3M$54.2M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.864−0.128%$7.6M$45.5M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.817−0.178%$340K$1.1M50xas long as short
StandX HYPE-USD+0.0100%1h94.046+0.066%$680K$2.5M20xas long as short
Vest HYPE-PERP+0.0100%1h94.005+0.022%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.996+0.013%$472K$2.5M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.963−0.022%$76K$171K20xas long as short
SunX HYPE-USDT+0.0100%4h93.973−0.012%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.967−0.018%$2.0M$2.0M10xas long as short
Injective HYPE/USDC PERP+0.0104%1h94.410+0.453%$31K$338K12xas long as short
Extended HYPE-USD+0.0104%1h93.968−0.017%$18.4M$42.8M50xas long as short
Coinbase International HYPE-PERP-INTX+0.0152%1h94.070+0.092%$4.9M$5.7M50xas long as short
Kalshi KXHYPEPERP+0.0157%8h94.054+0.074%$1.9M$5.1M2.3xas long as short
BloFin HYPE-USDT+0.0185%4h93.999+0.016%$17.0M$12.6M75xas long as short
HTX HYPE-USDT+0.0194%4h94.100+0.123%$1.5M$7.8M75xas long as short
Reya HYPERUSDPERP+0.0250%1h93.966−0.019%$77K$142K15xas long as short
RISEx HYPE/USDC+0.0284%1h93.982−0.002%$2.8M$6.9M20xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0324%1h94.067+0.088%$7.5M$4.6M50xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0338% / S −0.0156%1h93.993+0.010%$1.5M—100xas long as short
Kraken Futures PF_HYPEUSDshort+0.0577%1h94.082+0.104%$21.0M$29.5M50x