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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
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Alert: spread
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Funding you earn now, next payment 07:00 UTC+0.0189%/8h= +20.7% APRnext payment +$0.24 per $10,000 · paid last 24h +0.014%
Price spread now: SoDEX against Bullet0.000%7-day average −0.009% · 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−$27as in the Price arb table
costs, in and out, $10k−$280.280% of the position
Long on BulletShort on SoDEX
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.018%+$2 on $10k
Price spread, last 4 days (all we have)−0.032%−$3 · spread now 0.000%, 7d avg −0.009%
Together, before fees−0.014%−$1 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.009%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.018% in total (about 1.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.24 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBullet HYPE-USD93.435−0.0089get 0.0011% / 1h32m 58s$111K$579K20x
ShortSoDEX HYPE-USD93.4350.0100get 0.0013% / 1h32m 58s$2.0M$1.9M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

SoDEX 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

Funding earned
$39.62
Price spread: 0.000% → −0.009%
$0.82
Slippage, 4 orders
−$12.03
Fee Bullet: 4 bp × 2 orders
−$8
Fee SoDEX: 4 bp × 2 orders
−$8
Net
$12.41
Costs to cover
0.280%
Break-even
4.8 days
Slippage from Bullet: live order book, 11 min ago; SoDEX: live order book, 1 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Bullet live order book, 11 min ago0.43 bp5.6 bp −$69.6 bp −$96doesn't fitdoesn't fit
Sell SoDEX live order book, 1 min ago0.64 bp6.8 bp −$713.2 bp −$132doesn't fitdoesn't fit

HYPE on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-P−0.1024%1h93.380−0.059%$198K$240K7xas long as short
Aftermath Perps HYPEUSD−0.0186%1h93.496+0.065%$22K$21K10xas long as short
Bullet HYPE-USDlong−0.0089%1h93.435long leg$111K$579K20x
Ondo Perps HYPE-USD.P−0.0081%1h93.330−0.113%$703K$1.2M10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.362−0.079%$3K$33125xas long as short
01 Exchange HYPEUSD−0.0048%1h93.549+0.122%$86K$369K20xas long as short
Bluefin HYPE-PERP−0.0028%1h93.432−0.004%$79K$156K20xas long as short
Orderly PERP_HYPE_USDC−0.0021%4h93.433−0.003%$145K$685K20xas long as short
dYdX HYPE-USD0.0000%1h93.436+0.001%$128K$28K5xas long as short
Perpl HYPE0.0000%43m93.478+0.045%$20K$290K10xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0001%1h93.480+0.048%$83K—150xas long as short
BingX HYPE-USDT+0.0002%4h93.466+0.033%—$53.5M—as long as short
Bybit HYPEUSDT+0.0002%8h93.424−0.012%$315.2M$287.9M75xas long as short
Derive HYPE-PERP+0.0007%1h93.302−0.142%$16.2M$7.5M10xas long as short
Phoenix HYPE+0.0017%1h93.482+0.050%$209K$1.1M10xas long as short
Bitget HYPEUSDT+0.0042%4h93.472+0.039%$225.2M$99.8M75xas long as short
Paradex HYPE-USD-PERP+0.0076%8h93.517+0.087%$334K$161K20xas long as short
edgeX HYPEUSDC+0.0080%4h93.460+0.027%$5.0M$30.6M30xas long as short
Arcus HYPE-USD+0.0084%1h93.474+0.041%$1.0M$4.0M10xas long as short
Phemex HYPEUSDT+0.0088%8h93.478+0.046%$12.8M$2.8M50xas long as short
Lighter HYPE+0.0096%1h93.464+0.031%$16.1M$64.0M20xas long as short
Lighter RH HYPE+0.0096%1h93.483+0.051%$3.1M$11.1M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.513+0.083%$79K$1.2M50xas long as short
Katana Perps HYPE-USD+0.0100%8h93.500+0.069%$21K$1.7M10xas long as short
Nado HYPE-PERP+0.0100%1h93.418−0.019%$7.5M$50.9M10xas long as short
Hyperliquid HYPE+0.0100%1h93.529+0.100%$2.04B$681.6M10xas long as short
Aster HYPEUSDT+0.0100%4h93.458+0.025%$8.8M$37.1M300xas long as short
Pacifica HYPE+0.0100%1h93.485+0.053%$10.1M$15.4M20xas long as short
Binance HYPEUSDT+0.0100%4h93.462+0.028%$374.0M$929.7M75xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.440+0.005%$115.3M$314.9M50xas long as short
Gate HYPE_USDT+0.0100%4h93.455+0.021%$48.5M$55.3M75xas long as short
MEXC HYPE_USDT+0.0100%4h93.477+0.045%$90.5M$84.1M100xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.441+0.006%$46.3M$18.7M75xas long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.469+0.036%$7.2M$10.6M20xas long as short
Variational Omni HYPE+0.0100%8h93.339−0.104%$28.7M$56.3M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.507+0.077%$7.5M$48.3M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.469+0.036%$350K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.415−0.022%$677K$2.7M20xas long as short
Vest HYPE-PERP+0.0100%1h93.526+0.097%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.508+0.078%$469K$2.8M20xas long as short
SunX HYPE-USDT+0.0100%4h93.584+0.159%$32K$1.6M20xas long as short
SoDEX HYPE-USDshort+0.0100%1h93.4350.000%$2.0M$1.9M10x
HTX HYPE-USDT+0.0100%4h93.600+0.176%$1.4M$6.7M75xas long as short
Bulk HYPE-USD+0.0100%1h93.507+0.077%$216K$15K10xas long as short
Kalshi KXHYPEPERP+0.0103%8h93.620+0.198%$1.8M$5.6M2.3xas long as short
Extended HYPE-USD+0.0104%1h93.431−0.005%$18.2M$43.2M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.453+0.019%$395K$159K20xas long as short
Coinbase International HYPE-PERP-INTX+0.0120%1h93.490+0.058%$4.7M$6.1M50xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0152% / S +0.0022%1h93.385−0.054%$1.4M—100xas long as short
Injective HYPE/USDC PERP+0.0205%1h94.410+1.043%$30K$339K12xas long as short
Reya HYPERUSDPERP+0.0271%1h93.461+0.027%$77K$129K15xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0306%1h93.532+0.103%$7.4M$4.2M50xas long as short
BloFin HYPE-USDT+0.0340%4h93.4350.000%$16.9M$12.2M75xas long as short
Kraken Futures PF_HYPEUSD+0.0416%1h93.524+0.095%$20.9M$29.6M50xas long as short
RISEx HYPE/USDC+0.0559%1h93.547+0.120%$3.2M$6.4M20xas long as short