HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.1548%/8h= −169.5% APRnext payment −$1.94 per $10,000 · paid last 24h −0.232%

Price spread now: Hibachi against Bluefin+0.221%7-day average −0.077% · you sell dearer than you buy

Net, funding: paid 7d − costs−$236as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$840.838% of the position

Long on Bluefin Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 7 days−1.527%−$153 on $10k

Price spread, last 3 days (all we have)−0.327%−$33 · spread now +0.221%, 7d avg −0.077%

Together, before fees−1.854%+ Points / potential airdropHibachi: Active · farm board−$185 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Hibachi is 0.298% dearer against Bluefin than usual: you sell high and buy low (spread +0.221% now, against its 7-day average of −0.077%): +$30 on $10k if it goes back. Holding the pair costs −$46 a day in funding at the current rate, which eats that in about 15 hours. At the pace of the last 7 days (−1.527% in total) that is about 33 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bluefin HYPE-PERP	94.075	0.0100	pay 0.0013% / 1h	32m 57s	$76K	$171K	20x
Short	Hibachi HYPE/USDT-P	94.283	−0.1448	pay 0.0181% / 1h	32m 57s	$200K	$228K	7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi 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 HibachibpOrdersPrice spread, now +0.221%Rate

Funding earned: −$325.08
Price spread: +0.221% → −0.077%: $29.78
Slippage, 4 orders: −$67.76
Fee Bluefin: 3.5 bp × 2 orders: −$7
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: −$379.06
Costs to cover: 0.838%
Break-even: never at this rate

Slippage from Bluefin: live order book, 41 min ago; Hibachi: live order book, 41 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, 41 min ago	2.45 bp	12.1 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Hibachi live order book, 41 min ago	12.88 bp	17.4 bp −$17	31.7 bp −$317	doesn't fit	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-Pshort	−0.1448%	1h	94.283	+0.221%	$200K	$228K	7x
Arcus HYPE-USD	−0.0625%	1h	94.156	+0.086%	$1.2M	$3.8M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0242%	1h	94.220	+0.154%	$22K	$23K	10x	as long as short
Phemex HYPEUSDT	−0.0236%	8h	94.135	+0.064%	$12.8M	$2.6M	50x	as long as short
dYdX HYPE-USD	−0.0171%	1h	94.245	+0.181%	$129K	$31K	5x	as long as short
Ondo Perps HYPE-USD.P	−0.0152%	1h	94.210	+0.144%	$710K	$947K	10x	as long as short
Bullet HYPE-USD	−0.0091%	1h	94.087	+0.013%	$112K	$580K	20x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	94.217	+0.151%	$86K	$361K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.258	+0.195%	$3K	$331	25x	as long as short
Bybit HYPEUSDT	−0.0019%	8h	94.076	+0.001%	$323.2M	$280.8M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_HYPE_USDC	−0.0014%	4h	94.093	+0.019%	$161K	$638K	20x	as long as short
Perpl HYPE	0.0000%	43m	94.151	+0.080%	$23K	$327K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	94.122	+0.050%	$27K	—	150x	as long as short
Aster HYPEUSDT	+0.0025%	4h	94.135	+0.064%	$8.9M	$36.1M	300x	as long as short
Gate HYPE_USDT	+0.0026%	4h	94.082	+0.007%	$44.5M	$59.6M	75x	as long as short
Phoenix HYPE	+0.0034%	1h	94.342	+0.284%	$219K	$1.2M	10x	as long as short
MEXC HYPE_USDT	+0.0050%	4h	94.084	+0.010%	$89.4M	$82.5M	100x	as long as short
Binance HYPEUSDT	+0.0051%	4h	94.108	+0.035%	$383.8M	$893.3M	75x	as long as short
Derive HYPE-PERP	+0.0056%	1h	94.053	−0.024%	$16.4M	$7.3M	10x	as long as short
edgeX HYPEUSDC	+0.0061%	4h	94.240	+0.175%	$5.1M	$29.9M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0080%	8h	94.094	+0.020%	$116.1M	$319.1M	50x	as long as short
Lighter HYPE	+0.0096%	1h	94.128	+0.056%	$19.0M	$59.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.110	+0.037%	$3.0M	$12.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.182	+0.114%	$66K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	94.084	+0.010%	$400K	$188K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	94.292	+0.231%	$342K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.190	+0.122%	$24K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.208	+0.142%	$6.7M	$44.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.192	+0.124%	$2.05B	$676.7M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.278	+0.216%	$10.2M	$14.6M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.139	+0.068%	$46.6M	$18.1M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	94.111	+0.038%	$228.2M	$100.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.096	+0.022%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.090	+0.016%	$7.7M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.220	+0.155%	$31.8M	$54.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.271	+0.208%	$7.6M	$45.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.252	+0.188%	$341K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.262	+0.199%	$682K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.245	+0.180%	—	$248K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.204	+0.137%	$481K	$2.6M	20x	as long as short
Bluefin HYPE-PERPlong	+0.0100%	1h	94.075	long leg	$76K	$171K	20x
SunX HYPE-USDT	+0.0100%	4h	94.344	+0.286%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.089	+0.015%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.120	+0.048%	$205K	$4K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.068	−0.007%	$18.9M	$44.4M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	94.120	+0.048%	$4.9M	$5.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.490	+0.441%	$31K	$338K	12x	as long as short
BloFin HYPE-USDT	+0.0206%	4h	94.147	+0.077%	$17.0M	$12.2M	75x	as long as short
Kalshi KXHYPEPERP	+0.0213%	8h	94.209	+0.142%	$1.9M	$5.1M	2.3x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	94.237	+0.173%	$2.8M	$6.7M	20x	as long as short
Reya HYPERUSDPERP	+0.0251%	1h	94.130	+0.059%	$79K	$145K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0334% / S −0.0153%	1h	94.125	+0.053%	$1.5M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0345%	1h	94.182	+0.114%	$7.5M	$4.7M	50x	as long as short
HTX HYPE-USDT	+0.0438%	4h	94.300	+0.239%	$1.5M	$6.3M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0670%	1h	94.181	+0.113%	$21.0M	$29.7M	50x	as long as short