HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0401%/8h= −43.9% APRnext payment −$0.50 per $10,000 · paid last 24h 0.000%

Price spread now: GMX against Bluefin−0.001%7-day average +0.020% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bluefin Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.105%+$10 on $10k

Price spread, last 3 days (all we have)+0.109%+$11 · spread now −0.001%, 7d avg +0.020%

Together, before fees+0.214%+$21 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and GMX is 0.021% cheaper against Bluefin than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.020%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.105%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.105% in total (about 12.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.50 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	93.999	0.0558	pay 0.0070% / 1h	59m 20s	$76K	$171K	20x
Short	GMX HYPE/USD [WBTC.b-USDC]	93.998	L +0.0338% / S −0.0157%	get 0.0020% / 1h	59m 20s	$1.5M	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.001%Rate

Funding earned: −$84.15
Price spread: −0.001% → +0.020%: −$2.07
Slippage, 4 orders: no order book: not counted
Fee Bluefin: 3.5 bp × 2 orders: −$7
Fee GMX: 6 bp × 2 orders: −$12
Net: −$105.22
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Bluefin: live order book, 15 min ago; GMX: no order-book sample. Net counts fees only.

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, 15 min ago	2.45 bp	12.1 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

HYPE on 54 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	−0.1416%	1h	93.956	−0.045%	$199K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0339%	1h	93.995	−0.005%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	93.854	−0.154%	$1.2M	$3.8M	10x	as long as short
01 Exchange HYPEUSD	−0.0200%	1h	94.009	+0.011%	$86K	$368K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.049	+0.053%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0074%	1h	93.960	−0.041%	$705K	$924K	10x	as long as short
Bullet HYPE-USD	−0.0051%	1h	93.986	−0.014%	$112K	$578K	20x	as long as short
dYdX HYPE-USD	−0.0021%	1h	94.052	+0.057%	$128K	$30K	5x	as long as short
Derive HYPE-PERP	−0.0015%	1h	93.908	−0.097%	$16.4M	$7.2M	10x	as long as short
Orderly PERP_HYPE_USDC	−0.0007%	4h	93.971	−0.030%	$169K	$594K	20x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	94.012	+0.013%	$23K	$329K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	94.001	+0.002%	$27K	—	150x	as long as short
Phoenix HYPE	+0.0009%	1h	94.114	+0.122%	$218K	$1.2M	10x	as long as short
Aster HYPEUSDT	+0.0019%	4h	94.016	+0.018%	$8.9M	$36.1M	300x	as long as short
Phemex HYPEUSDT	+0.0024%	8h	93.997	−0.002%	$12.8M	$2.6M	50x	as long as short
MEXC HYPE_USDT	+0.0044%	4h	93.985	−0.015%	$88.5M	$81.0M	100x	as long as short
SoDEX HYPE-USD	+0.0045%	1h	93.972	−0.029%	$2.0M	$2.0M	10x	as long as short
Binance HYPEUSDT	+0.0047%	4h	93.986	−0.013%	$384.1M	$899.4M	75x	as long as short
edgeX HYPEUSDC	+0.0053%	4h	93.991	−0.008%	$5.1M	$29.7M	30x	as long as short
Gate HYPE_USDT	+0.0066%	4h	93.995	−0.004%	$44.4M	$58.3M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0085%	8h	93.969	−0.032%	$116.0M	$322.7M	50x	as long as short
Lighter HYPE	+0.0096%	1h	94.027	+0.030%	$18.9M	$58.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.020	+0.022%	$3.1M	$12.0M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.014	+0.016%	$60K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	94.004	+0.005%	$400K	$190K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	94.104	+0.111%	$342K	$171K	20x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.023	+0.026%	$6.6M	$44.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.114	+0.122%	$2.05B	$680.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.027	+0.029%	$10.1M	$14.6M	20x	as long as short
Bybit HYPEUSDT	+0.0100%	8h	93.952	−0.050%	$323.3M	$283.8M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.889	−0.117%	$205K	$7K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.019	+0.021%	$46.5M	$18.5M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.979	−0.021%	$227.7M	$101.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.967	−0.034%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.076	+0.082%	$7.9M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.972	−0.028%	$31.4M	$54.2M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.052	+0.056%	$7.6M	$45.4M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.033	+0.036%	$340K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.047	+0.051%	$680K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.043	+0.046%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.034	+0.037%	$472K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.016	+0.018%	$32K	$1.6M	20x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.960	−0.041%	$18.4M	$42.7M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	94.080	+0.086%	$4.9M	$5.7M	50x	as long as short
Kalshi KXHYPEPERP	+0.0162%	8h	94.110	+0.118%	$1.9M	$5.1M	2.3x	as long as short
BloFin HYPE-USDT	+0.0183%	4h	94.000	+0.001%	$17.0M	$12.6M	75x	as long as short
HTX HYPE-USDT	+0.0195%	4h	94.217	+0.232%	$1.5M	$7.8M	75x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	93.990	−0.010%	$31K	$338K	12x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	94.009	+0.011%	$2.8M	$6.9M	20x	as long as short
Reya HYPERUSDPERP	+0.0250%	1h	94.000	+0.001%	$77K	$142K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]short	L +0.0338% / S −0.0157%	1h	93.998	−0.001%	$1.5M	—	100x
Deribit HYPE_USDC-PERPETUAL	+0.0378%	1h	94.079	+0.085%	$7.5M	$4.7M	50x	as long as short
Bluefin HYPE-PERPlong	+0.0558%	1h	93.999	long leg	$76K	$171K	20x
Kraken Futures PF_HYPEUSD	+0.0671%	1h	94.089	+0.096%	$21.0M	$29.5M	50x	as long as short