HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0052%/8h= +5.7% APRnext payment +$0.07 per $10,000 · paid last 24h −0.033%

Price spread now: Coinbase International against Bluefin−0.001%7-day average −0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$430.426% of the position

Long on Bluefin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.010%+$1 on $10k

Price spread, last 3 days (all we have)+0.013%+$1 · spread now −0.001%, 7d avg −0.024%

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

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Coinbase International is 0.023% dearer against Bluefin than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bluefin HYPE-PERP	94.071	0.0100	pay 0.0013% / 1h	0m 38s	$76K	$171K	20x
Short	Coinbase International HYPE-PERP-INTX	94.070	0.0152	get 0.0019% / 1h	0m 38s	$4.9M	$5.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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

Position, each leg$Hold fordaysFee BluefinbpFee Coinbase InternationalbpOrdersPrice spread, now −0.001%Rate

Funding earned: $10.92
Price spread: −0.001% → −0.024%: $2.33
Slippage, 4 orders: −$25.56
Fee Bluefin: 3.5 bp × 2 orders: −$7
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$29.31
Costs to cover: 0.426%
Break-even: 25.8 days

Slippage from Bluefin: live order book, 13 min ago; Coinbase International: live order book, 3 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 Bluefin live order book, 13 min ago	2.45 bp	12.1 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 3 min ago	2.66 bp	8.2 bp −$8	13.0 bp −$130	35.1 bp −$3,507	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
Hibachi HYPE/USDT-P	−0.1400%	1h	93.873	−0.211%	$199K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0343%	1h	93.963	−0.115%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	93.890	−0.192%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0135%	1h	93.930	−0.150%	$705K	$924K	10x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	94.037	−0.036%	$86K	$368K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.044	−0.029%	$3K	$331	25x	as long as short
Derive HYPE-PERP	−0.0011%	1h	93.993	−0.083%	$16.4M	$7.2M	10x	as long as short
dYdX HYPE-USD	−0.0009%	1h	94.052	−0.020%	$128K	$30K	5x	as long as short
Orderly PERP_HYPE_USDC	−0.0006%	4h	94.054	−0.018%	$169K	$594K	20x	as long as short
Perpl HYPE	0.0000%	43m	94.002	−0.073%	$23K	$329K	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 −0.0003%	1h	94.074	+0.003%	$27K	—	150x	as long as short
Phoenix HYPE	+0.0009%	1h	93.898	−0.184%	$217K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0017%	8h	94.030	−0.044%	$323.6M	$284.0M	75x	as long as short
Aster HYPEUSDT	+0.0018%	4h	94.043	−0.030%	$8.9M	$36.1M	300x	as long as short
Phemex HYPEUSDT	+0.0026%	8h	94.000	−0.075%	$12.8M	$2.6M	50x	as long as short
MEXC HYPE_USDT	+0.0044%	4h	94.043	−0.030%	$88.5M	$82.3M	100x	as long as short
Binance HYPEUSDT	+0.0046%	4h	94.047	−0.026%	$384.4M	$898.7M	75x	as long as short
edgeX HYPEUSDC	+0.0057%	4h	94.017	−0.058%	$5.1M	$29.7M	30x	as long as short
Popdex HYPEUSDT	+0.0064%	1h	94.028	−0.046%	$60K	$1.2M	50x	as long as short
Gate HYPE_USDT	+0.0068%	4h	94.040	−0.033%	$44.2M	$60.1M	75x	as long as short
Bullet HYPE-USD	+0.0072%	1h	94.038	−0.035%	$112K	$578K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0088%	8h	94.035	−0.038%	$116.0M	$323.1M	50x	as long as short
Lighter HYPE	+0.0096%	1h	94.096	+0.027%	$18.9M	$60.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.070	−0.001%	$3.1M	$12.4M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	94.068	−0.004%	$400K	$318K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	94.040	−0.033%	$42K	$1.6M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	94.088	+0.019%	$342K	$171K	20x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.014	−0.060%	$6.6M	$44.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.143	+0.077%	$2.05B	$680.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.066	−0.005%	$10.1M	$14.5M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.889	−0.194%	$205K	$7K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.045	−0.028%	$46.6M	$18.6M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	94.046	−0.027%	$227.8M	$102.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.039	−0.034%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.082	+0.012%	$7.9M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.972	−0.105%	$31.4M	$54.2M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.864	−0.221%	$7.6M	$45.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.055	−0.017%	$340K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.964	−0.114%	$679K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.052	−0.021%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.062	−0.010%	$472K	$2.5M	20x	as long as short
Bluefin HYPE-PERPlong	+0.0100%	1h	94.071	long leg	$76K	$171K	20x
SunX HYPE-USDT	+0.0100%	4h	94.060	−0.012%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.059	−0.013%	$2.0M	$2.0M	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.410	+0.360%	$31K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.019	−0.055%	$18.4M	$42.8M	50x	as long as short
Coinbase International HYPE-PERP-INTXshort	+0.0152%	1h	94.070	−0.001%	$4.9M	$5.7M	50x
GMX HYPE/USD [WBTC.b-USDC]	L +0.0156% / S +0.0022%	1h	94.067	−0.004%	$1.5M	—	100x	as long as short
Kalshi KXHYPEPERP	+0.0159%	8h	94.096	+0.027%	$1.9M	$5.1M	2.3x	as long as short
BloFin HYPE-USDT	+0.0183%	4h	94.000	−0.075%	$17.0M	$12.6M	75x	as long as short
HTX HYPE-USDT	+0.0194%	4h	94.200	+0.137%	$1.5M	$7.8M	75x	as long as short
Reya HYPERUSDPERP	+0.0250%	1h	94.030	−0.044%	$77K	$142K	15x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	94.084	+0.014%	$2.8M	$6.9M	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0409%	1h	94.166	+0.101%	$7.5M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0576%	1h	94.158	+0.093%	$21.1M	$29.5M	50x	as long as short