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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−0.0082%/8h= −8.9% APRpaid last 24h −0.021%
Price spread now: Bybit against Bluefin+0.018%48s7-day average −0.021% · you sell dearer than you buy
Net, funding: paid 7d − costs−$33as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$370.374% of the position
Long on BluefinShort on Bybit
What this pair did over the last
the charts below follow
Funding, last 7 days+0.046%+$5 on $10k
Price spread, last 3 days (all we have)+0.019%+$2 · spread now +0.018%, 7d avg −0.021%
Together, before fees+0.065%+$6 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Bybit is 0.039% dearer against Bluefin than usual: you sell high and buy low (spread +0.018% now, against its 7-day average of −0.021%): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 38 hours. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBluefin HYPE-PERP93.9030.0100pay 0.0013% / 1h56m 35s$76K$166K20x
ShortBybit HYPEUSDT93.9200.0018get 0.0018% / 8h56m 35s$324.9M$280.7M75x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bybit against Bluefin. 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
−$17.12
Price spread: +0.018% → −0.021%
$3.87
Slippage, 4 orders
−$19.36
Fee Bluefin: 3.5 bp × 2 orders
−$7
Fee Bybit: 5.5 bp × 2 orders
−$11
Net
−$50.61
Costs to cover
0.374%
Break-even
never at this rate
Slippage from Bluefin: live order book, 23 min ago; Bybit: live order book, 3 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 Bluefin live order book, 23 min ago2.73 bp13.2 bp −$13doesn't fitdoesn't fitdoesn't fit
Sell Bybit live order book, 3 min ago0.53 bp6.0 bp −$68.2 bp −$8218.7 bp −$1,87243.5 bp −$21.7K

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−0.0504%1h93.735−0.179%$198K$228K7xas long as short
Aftermath Perps HYPEUSD−0.0486%1h93.638−0.283%$22K$22K10xas long as short
Arcus HYPE-USD−0.0233%1h93.847−0.060%$1.2M$3.8M10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.892−0.012%$3K$33125xas long as short
dYdX HYPE-USD0.0000%1h93.912+0.009%$128K$32K5xas long as short
Perpl HYPE0.0000%43m93.882−0.022%$23K$330K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0002%1h93.922+0.020%$28K—150xas long as short
Ondo Perps HYPE-USD.P+0.0003%1h93.830−0.078%$703K$903K10xas long as short
Orderly PERP_HYPE_USDC+0.0014%4h93.908+0.005%$176K$526K20xas long as short
Bybit HYPEUSDTshort+0.0018%8h93.920+0.018%$324.9M$280.7M75x
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster HYPEUSDT+0.0024%4h93.933+0.032%$8.9M$35.8M300xas long as short
Phoenix HYPE+0.0034%1h93.805−0.104%$215K$1.2M10xas long as short
Derive HYPE-PERP+0.0063%1h93.839−0.068%$16.4M$6.9M10xas long as short
Gate HYPE_USDT+0.0064%4h93.909+0.006%$44.5M$57.9M75xas long as short
MEXC HYPE_USDT+0.0066%4h93.923+0.021%$90.7M$80.3M100xas long as short
Binance HYPEUSDT+0.0070%4h93.928+0.027%$385.6M$885.5M75xas long as short
Phemex HYPEUSDT+0.0074%8h93.842−0.065%$12.8M$2.6M50xas long as short
edgeX HYPEUSDC+0.0078%4h93.744−0.169%$5.1M$29.6M30xas long as short
Lighter HYPE+0.0096%1h93.966+0.067%$19.0M$58.9M20xas long as short
Lighter RH HYPE+0.0096%1h93.954+0.054%$3.1M$12.2M20xas long as short
01 Exchange HYPEUSD+0.0096%1h93.968+0.069%$91K$355K20xas long as short
Popdex HYPEUSDT+0.0096%1h93.925+0.023%$63K$1.2M50xas long as short
Aevo HYPE-PERP+0.0096%1h93.852−0.054%$399K$318K20xas long as short
Paradex HYPE-USD-PERP+0.0099%8h93.929+0.028%$341K$169K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.920+0.018%$29K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.919+0.018%$5.9M$44.1M10xas long as short
Pacifica HYPE+0.0100%1h93.953+0.053%$10.1M$14.5M20xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.919+0.017%$115.0M$314.6M50xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.936+0.035%$47.3M$18.3M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.918+0.016%$227.6M$102.4M75xas long as short
BingX HYPE-USDT+0.0100%4h93.912+0.010%—$53.9M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.926+0.024%$7.9M$10.4M20xas long as short
Variational Omni HYPE+0.0100%8h93.552−0.373%$30.9M$51.8M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.616−0.305%$7.5M$45.5M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.759−0.153%$393K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.862−0.044%$679K$2.5M20xas long as short
Vest HYPE-PERP+0.0100%1h93.914+0.011%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.911+0.009%$484K$2.5M20xas long as short
Bullet HYPE-USD+0.0100%1h93.888−0.016%$113K$577K20xas long as short
Bluefin HYPE-PERPlong+0.0100%1h93.903long leg$76K$166K20x
SunX HYPE-USDT+0.0100%4h93.979+0.081%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.904+0.001%$2.0M$2.0M10xas long as short
Bulk HYPE-USD+0.0100%1h93.680−0.237%$205K$7K10xas long as short
Injective HYPE/USDC PERP+0.0104%1h93.750−0.163%$30K$338K12xas long as short
Extended HYPE-USD+0.0104%1h93.901−0.002%$18.6M$42.0M50xas long as short
Kalshi KXHYPEPERP+0.0120%8h93.972+0.073%$1.9M$5.1M2.3xas long as short
Coinbase International HYPE-PERP-INTX+0.0152%1h93.870−0.035%$4.9M$5.7M50xas long as short
HTX HYPE-USDT+0.0221%4h94.082+0.191%$1.5M$7.7M75xas long as short
Reya HYPERUSDPERP+0.0248%1h93.885−0.019%$77K$142K15xas long as short
BloFin HYPE-USDT+0.0266%4h93.898−0.005%$17.0M$12.3M75xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0272%1h93.995+0.098%$7.4M$4.5M50xas long as short
RISEx HYPE/USDC+0.0284%1h93.981+0.083%$2.7M$6.8M20xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0340% / S −0.0165%1h93.877−0.028%$1.4M—100xas long as short
Kraken Futures PF_HYPEUSD+0.0577%1h94.020+0.125%$21.0M$29.0M50xas long as short
Hyperliquid HYPE+0.0577%1h93.962+0.063%$2.05B$667.6M10xas long as short