HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0170%/8h= +18.6% APRnext payment +$0.21 per $10,000 · paid last 24h +0.022%

Price spread now: Reya against Bluefin−0.099%7-day average −0.018% · you buy dearer than you sell

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

Long on Bluefin Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.053%+$5 on $10k

Price spread, last 4 days (all we have)+0.119%+$12 · spread now −0.099%, 7d avg −0.018%

Together, before fees+0.172%+ Points / potential airdropReya: Active · farm board+$17 on $10k · with fees, hour by hour

Funding pays, the price is against you. Reya is 0.081% cheaper against Bluefin than usual: you would sell low and buy high (spread −0.099% now, against its 7-day average of −0.018%). If the spread goes back, that is −$8 on $10k: about 38 hours of funding at the current rate (+$5 a day). At the pace of the last 3 days (+0.053% in total) that is about 5.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bluefin HYPE-PERP	94.291	0.0100	pay 0.0013% / 1h	12m 13s	$80K	$166K	20x
Short	Reya HYPERUSDPERP	94.197	0.0270	get 0.0034% / 1h	12m 13s	$77K	$130K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.099%Rate

Funding earned: $35.69
Price spread: −0.099% → −0.018%: −$8.09
Slippage, 4 orders: no order book: not counted
Fee Bluefin: 3.5 bp × 2 orders: −$7
Fee Reya: 3 bp × 2 orders: −$6
Net: $14.6
Costs to cover: 0.130%
Break-even: 4.1 days

Slippage unknown: Bluefin: live order book, 37 min ago; Reya: 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, 37 min ago	3.36 bp	16.3 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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 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	−0.1328%	1h	94.055	−0.250%	$199K	$239K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0387%	1h	94.011	−0.297%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.149	−0.151%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0015%	1h	94.266	−0.026%	$112K	$580K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0015%	4h	94.262	−0.031%	$147K	$677K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.186	−0.111%	$129K	$29K	5x	as long as short
01 Exchange HYPEUSD	0.0000%	1h	94.225	−0.070%	$86K	$372K	20x	as long as short
Perpl HYPE	0.0000%	43m	94.290	−0.002%	$22K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	94.296	+0.006%	$63K	—	150x	as long as short
Arcus HYPE-USD	+0.0011%	1h	94.202	−0.094%	$1.1M	$4.0M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit HYPEUSDT	+0.0021%	8h	94.270	−0.022%	$319.2M	$285.4M	75x	as long as short
Bitget HYPEUSDT	+0.0022%	4h	94.296	+0.005%	$227.4M	$99.2M	75x	as long as short
Phemex HYPEUSDT	+0.0026%	8h	94.270	−0.022%	$12.8M	$2.8M	50x	as long as short
Phoenix HYPE	+0.0026%	1h	94.200	−0.097%	$209K	$1.2M	10x	as long as short
Ondo Perps HYPE-USD.P	+0.0066%	1h	94.080	−0.224%	$709K	$1.2M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	94.230	−0.065%	$342K	$158K	20x	as long as short
Lighter HYPE	+0.0096%	1h	94.308	+0.018%	$16.4M	$63.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.313	+0.023%	$3.2M	$11.6M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.254	−0.039%	$72K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.180	−0.118%	$28K	$1.7M	10x	as long as short
edgeX HYPEUSDC	+0.0100%	4h	94.090	−0.213%	$5.0M	$30.2M	30x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.213	−0.082%	$7.2M	$48.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.307	+0.017%	$2.06B	$678.0M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.296	+0.005%	$8.8M	$36.6M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.254	−0.039%	$10.2M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.295	+0.004%	$378.4M	$922.0M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	94.288	−0.003%	$116.5M	$316.5M	50x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.260	−0.033%	$48.1M	$55.4M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.303	+0.013%	$89.8M	$82.1M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.317	+0.028%	$46.6M	$18.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.289	−0.002%	—	$53.6M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.323	+0.034%	$7.2M	$10.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.099	−0.203%	$28.9M	$56.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.125	−0.176%	$7.7M	$48.4M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.113	−0.189%	$337K	$998K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.142	−0.158%	$674K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.288	−0.003%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.252	−0.041%	$478K	$2.8M	20x	as long as short
Bluefin HYPE-PERPlong	+0.0100%	1h	94.291	long leg	$80K	$166K	20x
Derive HYPE-PERP	+0.0100%	1h	94.277	−0.015%	$16.2M	$7.4M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.293	+0.002%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.303	+0.013%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.450	+0.169%	$1.4M	$6.6M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.197	−0.099%	$217K	$15K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.288	−0.003%	$18.3M	$43.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.298	+0.008%	$399K	$159K	20x	as long as short
Kalshi KXHYPEPERP	+0.0121%	8h	94.292	+0.001%	$1.8M	$5.6M	2.3x	as long as short
Injective HYPE/USDC PERP	+0.0122%	1h	94.310	+0.020%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	94.340	+0.052%	$4.7M	$6.1M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0195%	1h	94.383	+0.098%	$7.5M	$4.1M	50x	as long as short
Reya HYPERUSDPERPshort	+0.0270%	1h	94.197	−0.099%	$77K	$130K	15x
GMX HYPE/USD [WBTC.b-USDC]	L +0.0333% / S −0.0154%	1h	94.281	−0.011%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0337%	1h	94.396	+0.111%	$21.1M	$29.5M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.169	−0.129%	$16.8M	$12.1M	75x	as long as short
RISEx HYPE/USDC	+0.0527%	1h	94.279	−0.012%	$3.2M	$6.3M	20x	as long as short