HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0617%/8h= +67.5% APRnext payment +$0.77 per $10,000 · paid last 24h −0.004%

Price spread now: Kraken Futures against Bullet+0.159%7-day average +0.024% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

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

Long on Bullet Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.036%+$4 on $10k

Price spread, last 3 days (all we have)−0.229%−$23 · spread now +0.159%, 7d avg +0.024%

Together, before fees−0.192%−$19 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$19 a day on $10k at the current rate, and Kraken Futures is 0.135% dearer against Bullet than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of +0.024%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.036% in total (about 4.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.77 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	93.279	−0.0043	get 0.0005% / 1h	1m 33s	$111K	$580K	20x
Short	Kraken Futures PF_HYPEUSD	93.427	0.0574	get 0.0072% / 1h	1m 33s	$19.6M	$26.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.159%Rate

Funding earned: $129.53
Price spread: +0.159% → +0.024%: $13.51
Slippage, 4 orders: −$9.13
Fee Bullet: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $115.92
Costs to cover: 0.271%
Break-even: 0.7 days

Slippage from Bullet: live order book, 23 min ago; Kraken Futures: live order book, 3 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, 23 min ago	0.48 bp	7.1 bp −$7	9.1 bp −$91	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 3 min ago	0.05 bp	5.1 bp −$5	5.1 bp −$51	8.8 bp −$878	45.0 bp −$22.5K

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	−0.0800%	1h	93.293	+0.015%	$197K	$232K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0264%	1h	93.302	+0.024%	$22K	$22K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0219%	1h	93.230	−0.053%	$701K	$933K	10x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	93.310	+0.033%	$90K	$360K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.294	+0.016%	$3K	$331	25x	as long as short
Bullet HYPE-USDlong	−0.0043%	1h	93.279	long leg	$111K	$580K	20x
Derive HYPE-PERP	−0.0037%	1h	93.244	−0.037%	$16.4M	$7.1M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.280	+0.001%	$127K	$32K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.392	+0.121%	$1.9M	$5.3M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.313	+0.036%	$23K	$334K	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.335	+0.059%	$20K	—	150x	as long as short
Aster HYPEUSDT	+0.0010%	4h	93.279	0.000%	$8.9M	$35.8M	300x	as long as short
Bybit HYPEUSDT	+0.0028%	8h	93.268	−0.012%	$324.9M	$287.3M	75x	as long as short
Popdex HYPEUSDT	+0.0032%	1h	93.284	+0.005%	$57K	$1.2M	50x	as long as short
Gate HYPE_USDT	+0.0034%	4h	93.284	+0.005%	$44.0M	$58.1M	75x	as long as short
Orderly PERP_HYPE_USDC	+0.0050%	4h	93.318	+0.042%	$167K	$512K	20x	as long as short
Phoenix HYPE	+0.0068%	1h	93.279	0.000%	$215K	$1.2M	10x	as long as short
Vest HYPE-PERP	+0.0076%	1h	93.302	+0.024%	—	$454K	5x	as long as short
SoDEX HYPE-USD	+0.0094%	1h	93.297	+0.019%	$2.0M	$2.0M	10x	as long as short
Bluefin HYPE-PERP	+0.0095%	1h	93.287	+0.009%	$76K	$168K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.314	+0.037%	$18.6M	$60.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.305	+0.028%	$3.1M	$12.4M	20x	as long as short
StandX HYPE-USD	+0.0097%	1h	93.283	+0.004%	$674K	$2.5M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.295	+0.017%	$339K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.310	+0.033%	$37K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.283	+0.005%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.330	+0.055%	$2.03B	$671.6M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.308	+0.031%	$10.0M	$14.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.284	+0.005%	$384.9M	$889.2M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.261	−0.019%	$114.7M	$314.7M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.256	−0.025%	$1.2M	$4.1M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.271	−0.008%	$204K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.266	−0.014%	$92.7M	$82.6M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.276	−0.003%	$46.2M	$18.8M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.292	+0.014%	$226.6M	$102.6M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.272	−0.008%	—	$54.2M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.299	+0.021%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.211	−0.073%	$29.0M	$50.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.271	−0.008%	$7.5M	$45.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.255	−0.026%	$405K	$1.0M	50x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.334	+0.059%	$493K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.329	+0.054%	$32K	$1.6M	20x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.297	+0.019%	$12.7M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.275	−0.004%	$18.4M	$41.8M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.313	+0.036%	$397K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0105%	4h	93.244	−0.037%	$5.1M	$29.5M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.390	+0.119%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0246%	1h	93.297	+0.019%	$78K	$158K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0275%	1h	93.404	+0.134%	$7.4M	$4.6M	50x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.910	+0.676%	$31K	$291K	12x	as long as short
HTX HYPE-USDT	+0.0298%	4h	93.467	+0.202%	$1.5M	$7.6M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0165%	1h	93.330	+0.055%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.243	−0.039%	$17.1M	$12.4M	75x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.347	+0.073%	$2.8M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSDshort	+0.0574%	1h	93.427	+0.159%	$19.6M	$26.8M	50x