HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.1244%/8h= +136.2% APRnext payment +$1.55 per $10,000 · paid last 24h +0.013%

Price spread now: Bluefin against Bulk−0.342%7-day average −0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$420.417% of the position

Long on Bulk Short on Bluefin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.053%−$5 on $10k

Price spread, last 4 days (all we have)+0.229%+$23 · spread now −0.342%, 7d avg −0.051%

Together, before fees+0.176%+$18 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bluefin is 0.291% cheaper against Bulk than usual: you would sell low and buy high (spread −0.342% now, against its 7-day average of −0.051%). If the spread goes back, that is −$29 on $10k: about 19 hours of funding at the current rate (+$37 a day). Mind the row above: over the last 4 days funding on this pair cost −0.053%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.053% in total (about -5.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.55 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	Bulk HYPE-USD	92.800	0.0100	pay 0.0013% / 1h	50m 50s	$202K	$13K	10x
Short	Bluefin HYPE-PERP	92.483	0.1344	get 0.0168% / 1h	50m 50s	$78K	$169K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bluefin against Bulk. 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 BulkbpFee BluefinbpOrdersPrice spread, now −0.342%Rate

Funding earned: $261.17
Price spread: −0.342% → −0.051%: −$29.1
Slippage, 4 orders: −$27.67
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: $190.4
Costs to cover: 0.417%
Break-even: 1.9 days

Slippage from Bulk: live order book, 8 min ago; Bluefin: live order book, 8 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 Bulk live order book, 8 min ago	1.08 bp	4.6 bp −$5	6.5 bp −$65	15.2 bp −$1,521	44.9 bp −$22.4K
Sell Bluefin live order book, 8 min ago	4.21 bp	14.9 bp −$15	doesn't fit	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
Arcus HYPE-USD	−0.0948%	1h	92.414	−0.416%	$1.2M	$3.8M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0760%	1h	92.788	−0.013%	$195K	$227K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0110%	1h	92.696	−0.112%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0104%	1h	92.530	−0.291%	$86K	$351K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.555	−0.264%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0066%	4h	92.470	−0.356%	$157K	$663K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0059%	1h	92.720	−0.086%	$699K	$1.1M	10x	as long as short
Bullet HYPE-USD	−0.0052%	1h	92.518	−0.304%	$110K	$579K	20x	as long as short
Aster HYPEUSDT	−0.0005%	4h	92.438	−0.390%	$8.7M	$36.2M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.417	−0.412%	$127K	$31K	5x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	92.520	−0.302%	$23K	$309K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.520	−0.302%	$62K	—	150x	as long as short
Derive HYPE-PERP	+0.0020%	1h	92.434	−0.394%	$16.0M	$7.5M	10x	as long as short
BingX HYPE-USDT	+0.0032%	4h	92.493	−0.331%	—	$53.2M	—	as long as short
Phemex HYPEUSDT	+0.0033%	8h	92.492	−0.332%	$12.5M	$2.7M	50x	as long as short
Bybit HYPEUSDT	+0.0038%	8h	92.380	−0.453%	$317.1M	$279.4M	75x	as long as short
Phoenix HYPE	+0.0043%	1h	92.855	+0.059%	$211K	$1.2M	10x	as long as short
Gate HYPE_USDT	+0.0048%	4h	92.463	−0.363%	$44.4M	$54.5M	75x	as long as short
Popdex HYPEUSDT	+0.0072%	1h	92.529	−0.292%	$67K	$1.2M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0074%	8h	92.399	−0.432%	$113.0M	$300.5M	50x	as long as short
Binance HYPEUSDT	+0.0079%	4h	92.426	−0.403%	$371.6M	$892.7M	75x	as long as short
MEXC HYPE_USDT	+0.0084%	4h	92.505	−0.318%	$87.6M	$80.2M	100x	as long as short
Paradex HYPE-USD-PERP	+0.0092%	8h	92.546	−0.274%	$338K	$162K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.425	−0.404%	$16.0M	$62.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.473	−0.352%	$3.1M	$11.6M	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	92.530	−0.291%	$14K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.525	−0.297%	$5.8M	$43.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.543	−0.277%	$2.02B	$658.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.552	−0.267%	$10.0M	$14.9M	20x	as long as short
Bulk HYPE-USDlong	+0.0100%	1h	92.800	long leg	$202K	$13K	10x
KuCoin HYPEUSDTM	+0.0100%	4h	92.497	−0.327%	$45.8M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.481	−0.344%	$223.8M	$97.5M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.435	−0.393%	$7.4M	$10.0M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.469	−0.357%	$28.5M	$57.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.799	−0.001%	$7.5M	$45.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.847	+0.051%	$339K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.793	−0.008%	$665K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.585	−0.231%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.546	−0.274%	$467K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.586	−0.231%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.493	−0.331%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.650	−0.162%	$1.4M	$6.2M	75x	as long as short
edgeX HYPEUSDC	+0.0103%	4h	92.776	−0.026%	$5.1M	$29.2M	30x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.460	−0.366%	$18.1M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.474	−0.351%	$391K	$164K	20x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	92.430	−0.399%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.550	−0.269%	$4.7M	$5.5M	50x	as long as short
Reya HYPERUSDPERP	+0.0260%	1h	92.515	−0.307%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0263%	8h	92.559	−0.260%	$1.8M	$5.4M	2.3x	as long as short
BloFin HYPE-USDT	+0.0317%	4h	92.544	−0.276%	$16.8M	$11.5M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0153%	1h	92.537	−0.283%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0332%	1h	92.558	−0.261%	$20.6M	$30.3M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0442%	1h	92.587	−0.230%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.603	−0.212%	$3.1M	$6.4M	20x	as long as short
Bluefin HYPE-PERPshort	+0.1344%	1h	92.483	−0.342%	$78K	$169K	20x