HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0119%/8h= +13.0% APRnext payment +$0.15 per $10,000 · paid last 24h +0.024%

Price spread now: Phoenix against Bullet−0.210%62s7-day average +0.072% · 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−$280.283% of the position

Long on Bullet Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.113%+$11 on $10k

Price spread, last 3 days (all we have)+0.220%+$22 · spread now −0.210%, 7d avg +0.072%

Together, before fees+0.333%+$33 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.282% cheaper against Bullet than usual: you would sell low and buy high (spread −0.210% now, against its 7-day average of +0.072%). If the spread goes back, that is −$28 on $10k: about 7.9 days of funding at the current rate (+$4 a day). The two prices were read 62 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet HYPE-USD	93.875	−0.0085	get 0.0011% / 1h	16m 25s	$113K	$581K	20x
Short	Phoenix HYPE	93.678	0.0034	get 0.0004% / 1h	16m 25s	$218K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.210%Rate

Funding earned: $24.92
Price spread: −0.210% → +0.072%: −$28.2
Slippage, 4 orders: −$13.31
Fee Bullet: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$31.6
Costs to cover: 0.283%
Break-even: 15.9 days

Slippage from Bullet: live order book, 58 min ago; Phoenix: live order book, 2 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, 58 min ago	0.27 bp	7.1 bp −$7	9.4 bp −$94	doesn't fit	doesn't fit
Sell Phoenix live order book, 2 min ago	1.17 bp	5.6 bp −$6	9.6 bp −$96	119.2 bp −$11.9K	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-P	−0.1280%	1h	93.530	−0.367%	$198K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0625%	1h	93.701	−0.185%	$1.3M	$3.9M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0197%	1h	93.835	−0.043%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0134%	1h	93.730	−0.154%	$708K	$958K	10x	as long as short
dYdX HYPE-USD	−0.0103%	1h	93.818	−0.060%	$129K	$31K	5x	as long as short
01 Exchange HYPEUSD	−0.0088%	1h	93.855	−0.021%	$85K	$361K	20x	as long as short
Bullet HYPE-USDlong	−0.0085%	1h	93.875	long leg	$113K	$581K	20x
Hotstuff HYPE-PERP	−0.0080%	1h	93.610	−0.282%	$3K	$331	25x	as long as short
Gate HYPE_USDT	−0.0048%	4h	93.895	+0.021%	$44.4M	$60.1M	75x	as long as short
Orderly PERP_HYPE_USDC	−0.0027%	4h	93.892	+0.018%	$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	−0.0013%	8h	93.919	+0.047%	$323.2M	$281.0M	75x	as long as short
Aster HYPEUSDT	−0.0004%	4h	93.826	−0.052%	$8.9M	$36.1M	300x	as long as short
Perpl HYPE	0.0000%	43m	93.792	−0.089%	$23K	$326K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.926	+0.055%	$27K	—	150x	as long as short
Derive HYPE-PERP	+0.0009%	1h	93.545	−0.351%	$16.3M	$7.3M	10x	as long as short
Phoenix HYPEshort	+0.0034%	1h	93.678	−0.210%	$218K	$1.2M	10x
Phemex HYPEUSDT	+0.0039%	8h	93.651	−0.239%	$12.8M	$2.6M	50x	as long as short
MEXC HYPE_USDT	+0.0042%	4h	93.856	−0.020%	$88.4M	$83.2M	100x	as long as short
Binance HYPEUSDT	+0.0042%	4h	93.899	+0.026%	$383.0M	$895.8M	75x	as long as short
edgeX HYPEUSDC	+0.0057%	4h	93.961	+0.092%	$5.1M	$30.0M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0074%	8h	93.941	+0.070%	$115.9M	$317.2M	50x	as long as short
Aevo HYPE-PERP	+0.0088%	1h	93.937	+0.066%	$400K	$180K	20x	as long as short
Bluefin HYPE-PERP	+0.0090%	1h	93.939	+0.068%	$76K	$171K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.836	−0.041%	$19.1M	$60.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.799	−0.081%	$3.0M	$12.2M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.849	−0.028%	$65K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.871	−0.004%	$341K	$165K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.830	−0.048%	$29K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.805	−0.075%	$6.6M	$44.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.895	+0.021%	$2.05B	$676.1M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.835	−0.042%	$10.2M	$14.6M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.528	−0.369%	$204K	$12K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.866	−0.010%	$46.7M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.868	−0.007%	$227.5M	$101.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.911	+0.038%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.634	−0.257%	$7.7M	$10.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.939	+0.069%	$31.4M	$54.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.991	+0.124%	$7.6M	$46.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.940	+0.069%	$340K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.666	−0.223%	$677K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.816	−0.063%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.874	−0.001%	$475K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.645	−0.245%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.583	−0.311%	$2.0M	$2.0M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.791	−0.089%	$18.7M	$44.6M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.640	−0.250%	$4.9M	$5.5M	50x	as long as short
BloFin HYPE-USDT	+0.0168%	4h	93.581	−0.313%	$17.0M	$12.1M	75x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.490	+0.655%	$31K	$338K	12x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	93.865	−0.010%	$2.7M	$6.8M	20x	as long as short
Kalshi KXHYPEPERP	+0.0227%	8h	93.706	−0.180%	$1.9M	$5.1M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0252%	1h	93.843	−0.034%	$79K	$143K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0335% / S −0.0156%	1h	93.911	+0.038%	$1.4M	—	100x	as long as short
HTX HYPE-USDT	+0.0367%	4h	93.825	−0.053%	$1.5M	$6.0M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0605%	1h	93.699	−0.187%	$7.5M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0674%	1h	93.681	−0.207%	$20.9M	$29.8M	50x	as long as short