HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0367%/8h= +40.2% APRnext payment +$0.46 per $10,000 · paid last 24h −0.041%

Price spread now: dYdX against Bluefin+0.076%7-day average +0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$83as in the Funding arb table

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$810.808% of the position

Long on Bluefin Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.025%−$3 on $10k

Price spread, last 4 days (all we have)−0.020%−$2 · spread now +0.076%, 7d avg +0.012%

Together, before fees−0.046%−$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and dYdX is 0.065% dearer against Bluefin than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.012%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.025% in total (about -1.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.46 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bluefin HYPE-PERP	94.341	−0.0367	get 0.0046% / 1h	40m 31s	$80K	$154K	20x
Short	dYdX HYPE-USD	94.413	0	get 0.0000% / 1h	40m 31s	$129K	$94K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.076%Rate

Funding earned: $77.06
Price spread: +0.076% → +0.012%: $6.47
Slippage, 4 orders: −$63.82
Fee Bluefin: 3.5 bp × 2 orders: −$7
Fee dYdX: 5 bp × 2 orders: −$10
Net: $2.71
Costs to cover: 0.808%
Break-even: 6.8 days

Slippage from Bluefin: live order book, 64 min ago; dYdX: live order book, 63 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, 64 min ago	3.63 bp	13.6 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell dYdX live order book, 63 min ago	21.17 bp	26.2 bp −$26	58.6 bp −$586	136.4 bp −$13.6K	328.3 bp −$164.2K

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	−0.1480%	1h	94.196	−0.153%	$201K	$250K	7x	as long as short
Bluefin HYPE-PERPlong	−0.0367%	1h	94.341	long leg	$80K	$154K	20x
Ondo Perps HYPE-USD.P	−0.0177%	1h	94.350	+0.010%	$712K	$1.2M	10x	as long as short
Bullet HYPE-USD	−0.0167%	1h	94.365	+0.025%	$112K	$576K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0131%	1h	94.458	+0.124%	$22K	$20K	10x	as long as short
01 Exchange HYPEUSD	−0.0112%	1h	94.383	+0.045%	$87K	$366K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.398	+0.060%	$3K	$331	25x	as long as short
Arcus HYPE-USD	−0.0045%	1h	94.361	+0.021%	$1.0M	$3.6M	10x	as long as short
Bybit HYPEUSDT	−0.0014%	8h	94.360	+0.020%	$317.3M	$289.3M	75x	as long as short
Derive HYPE-PERP	−0.0008%	1h	94.317	−0.025%	$16.5M	$7.5M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX HYPE-USDshort	0.0000%	1h	94.413	+0.076%	$129K	$94K	5x
Kalshi KXHYPEPERP	0.0000%	8h	94.537	+0.208%	$1.9M	$5.6M	2.3x	as long as short
Phoenix HYPE	0.0000%	1h	94.440	+0.105%	$209K	$1.1M	10x	as long as short
Perpl HYPE	0.0000%	43m	94.398	+0.060%	$19K	$287K	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0001%	4h	94.340	−0.001%	$146K	$685K	20x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.400	+0.063%	$123K	—	150x	as long as short
Bitget HYPEUSDT	+0.0038%	4h	94.385	+0.047%	$226.9M	$99.7M	75x	as long as short
Phemex HYPEUSDT	+0.0043%	8h	94.365	+0.025%	$12.9M	$2.9M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0054%	8h	94.412	+0.075%	$337K	$156K	20x	as long as short
Lighter HYPE	+0.0064%	1h	94.393	+0.055%	$16.3M	$64.0M	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0064%	1h	94.460	+0.126%	$4.7M	$6.2M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0068%	1h	94.452	+0.118%	$7.4M	$4.3M	50x	as long as short
Polymarket Perps HYPE-USD	+0.0072%	1h	94.394	+0.056%	$495K	$2.8M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0081%	8h	94.375	+0.036%	$117.7M	$324.7M	50x	as long as short
edgeX HYPEUSDC	+0.0084%	4h	94.428	+0.092%	$5.0M	$30.6M	30x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.393	+0.055%	$3.2M	$10.8M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.366	+0.026%	$81K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.380	+0.041%	$30K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.391	+0.052%	$7.4M	$52.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.498	+0.166%	$2.08B	$690.6M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.382	+0.043%	$8.8M	$37.3M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.412	+0.076%	$10.2M	$15.3M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.382	+0.043%	$378.2M	$934.5M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.332	−0.010%	$218K	$12K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.379	+0.040%	$49.7M	$56.4M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.387	+0.049%	$90.5M	$82.6M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.401	+0.064%	$46.8M	$18.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.364	+0.024%	—	$53.1M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.391	+0.053%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.327	−0.015%	$29.5M	$54.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.461	+0.127%	$7.6M	$45.9M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.450	+0.116%	$369K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.414	+0.077%	$683K	$2.7M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.415	+0.078%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.374	+0.035%	$2.1M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.572	+0.245%	$1.4M	$6.8M	75x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.457	+0.123%	—	$190K	5x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.339	−0.002%	$18.3M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.366	+0.026%	$399K	$159K	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0150% / S +0.0021%	1h	94.427	+0.091%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0185%	1h	94.400	+0.063%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0223%	1h	94.447	+0.112%	$20.3M	$30.2M	50x	as long as short
RISEx HYPE/USDC	+0.0249%	1h	94.398	+0.061%	$3.2M	$6.4M	20x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.354	+0.013%	$84K	$124K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.388	+0.050%	$17.1M	$12.4M	75x	as long as short