HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0197%/8h= +21.6% APRnext payment +$0.25 per $10,000 · paid last 24h +0.008%

Price spread now: Bulk against Bullet−0.082%49s7-day average +0.013% · 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—prices read too far apart to compare

costs, in and out, $10k−$270.271% of the position

Long on Bullet Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.012%+$1 on $10k

Price spread, last 3 days (all we have)−0.131%−$13 · spread now −0.082%, 7d avg +0.013%

Together, before fees−0.119%−$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bulk is 0.095% cheaper against Bullet than usual: you would sell low and buy high (spread −0.082% now, against its 7-day average of +0.013%). If the spread goes back, that is −$10 on $10k: about 39 hours of funding at the current rate (+$6 a day). At the pace of the last 3 days (+0.012% in total) that is about 27 days. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.012% in total (about 1.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.25 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	Bullet HYPE-USD	93.605	−0.0097	get 0.0012% / 1h	17m 41s	$113K	$581K	20x
Short	Bulk HYPE-USD	93.528	0.0100	get 0.0013% / 1h	17m 41s	$204K	$12K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Bullet. 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 BulletbpFee BulkbpOrdersPrice spread, now −0.082%Rate

Funding earned: $41.45
Price spread: −0.082% → +0.013%: −$9.54
Slippage, 4 orders: −$12.11
Fee Bullet: 4 bp × 2 orders: −$8
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: $4.81
Costs to cover: 0.271%
Break-even: 6.2 days

Slippage from Bullet: live order book, 56 min ago; Bulk: live order book, 56 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 Bullet live order book, 56 min ago	0.27 bp	7.1 bp −$7	9.4 bp −$94	doesn't fit	doesn't fit
Sell Bulk live order book, 56 min ago	0.53 bp	6.0 bp −$6	7.6 bp −$76	13.2 bp −$1,324	37.8 bp −$18.9K

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	−0.1312%	1h	93.756	+0.161%	$198K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0625%	1h	93.508	−0.104%	$1.3M	$3.9M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0185%	1h	93.952	+0.371%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0145%	1h	93.580	−0.027%	$710K	$956K	10x	as long as short
dYdX HYPE-USD	−0.0106%	1h	93.615	+0.011%	$128K	$31K	5x	as long as short
Bullet HYPE-USDlong	−0.0097%	1h	93.605	long leg	$113K	$581K	20x
01 Exchange HYPEUSD	−0.0096%	1h	93.616	+0.012%	$85K	$360K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.627	+0.024%	$3K	$331	25x	as long as short
Gate HYPE_USDT	−0.0062%	4h	93.602	−0.003%	$44.3M	$60.1M	75x	as long as short
Orderly PERP_HYPE_USDC	−0.0027%	4h	93.603	−0.002%	$159K	$645K	20x	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	93.600	−0.005%	$321.4M	$280.3M	75x	as long as short
Aster HYPEUSDT	−0.0007%	4h	93.629	+0.026%	$8.9M	$36.1M	300x	as long as short
Perpl HYPE	0.0000%	43m	93.591	−0.015%	$23K	$326K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.626	+0.023%	$27K	—	150x	as long as short
Derive HYPE-PERP	+0.0003%	1h	93.596	−0.010%	$16.4M	$7.3M	10x	as long as short
Phoenix HYPE	+0.0034%	1h	94.149	+0.581%	$219K	$1.2M	10x	as long as short
MEXC HYPE_USDT	+0.0042%	4h	93.622	+0.018%	$88.1M	$83.2M	100x	as long as short
Binance HYPEUSDT	+0.0042%	4h	93.655	+0.053%	$382.0M	$894.5M	75x	as long as short
edgeX HYPEUSDC	+0.0057%	4h	93.961	+0.380%	$5.1M	$30.0M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0073%	8h	93.609	+0.004%	$115.7M	$316.2M	50x	as long as short
Bluefin HYPE-PERP	+0.0083%	1h	93.651	+0.049%	$76K	$170K	20x	as long as short
Phemex HYPEUSDT	+0.0094%	8h	93.679	+0.079%	$12.8M	$2.6M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.656	+0.054%	$19.1M	$60.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.661	+0.060%	$3.0M	$12.2M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.622	+0.018%	$66K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.596	−0.010%	$398K	$180K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.644	+0.041%	$340K	$165K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.570	−0.037%	$21K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.515	−0.096%	$6.6M	$44.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.694	+0.095%	$2.04B	$675.6M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.648	+0.046%	$10.1M	$14.6M	20x	as long as short
Bulk HYPE-USDshort	+0.0100%	1h	93.528	−0.082%	$204K	$12K	10x
KuCoin HYPEUSDTM	+0.0100%	4h	93.613	+0.009%	$46.6M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.616	+0.012%	$226.9M	$101.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.607	+0.002%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.688	+0.089%	$7.7M	$10.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.939	+0.357%	$31.4M	$54.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.991	+0.413%	$7.6M	$46.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.940	+0.358%	$340K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.838	+0.249%	$679K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.603	−0.002%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.596	−0.010%	$473K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.673	+0.073%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.653	+0.051%	$2.0M	$2.0M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.599	−0.007%	$18.7M	$44.5M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.590	−0.016%	$4.9M	$5.5M	50x	as long as short
BloFin HYPE-USDT	+0.0179%	4h	93.552	−0.057%	$17.0M	$12.1M	75x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.490	+0.945%	$31K	$338K	12x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	93.668	+0.068%	$2.7M	$6.8M	20x	as long as short
Kalshi KXHYPEPERP	+0.0227%	8h	93.642	+0.040%	$1.9M	$5.1M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0252%	1h	93.568	−0.040%	$79K	$142K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0334% / S −0.0156%	1h	93.615	+0.011%	$1.4M	—	100x	as long as short
HTX HYPE-USDT	+0.0373%	4h	93.850	+0.262%	$1.5M	$6.1M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0615%	1h	93.757	+0.162%	$7.5M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0673%	1h	93.761	+0.166%	$20.9M	$29.8M	50x	as long as short