Funding you earn now, next payment 00:00 UTC+0.0559%/8h= +61.3% APRpaid last 24h +0.016%
Price spread now: Kraken Futures against Bybit+0.136%7-day average +0.062% · you sell dearer than you buy
Net, funding: paid 7d − costs−$17as in the Funding arb table
Net, price: spread back to 7d avg − costs−$22as in the Price arb table
costs, in and out, $10k−$300.297% of the position
Funding, last 7 days+0.124%+$12 on $10k
+Price spread, last 3 days (all we have)−0.131%−$13 · spread now +0.136%, 7d avg +0.062%
=Both sides work for this trade now. Funding pays +$17 a day on $10k at the current rate, and Kraken Futures is 0.074% dearer against Bybit than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.062%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.124% in total (about 6.5% a year). A funding rate is set anew for every payment. 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 | Bybit HYPEUSDT | 94.030 | 0.0017 | pay 0.0017% / 8h | 0m 53s | $323.6M | $283.9M | 75x |
| Short | Kraken Futures PF_HYPEUSD | 94.158 | 0.0576 | get 0.0072% / 1h | 0m 53s | $21.1M | $29.5M | 50x |
Bybit HYPEUSDT
Kraken Futures PF_HYPEUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Bybit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $117.48
- Price spread: +0.136% → +0.062%
- $7.39
- Slippage, 4 orders
- −$8.75
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $95.12
- Costs to cover
- 0.297%
- Break-even
- 1.3 days
Slippage from Bybit: live order book, 8 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 Bybit live order book, 8 min ago | 0.53 bp | 6.0 bp −$6 | 8.1 bp −$81 | 16.3 bp −$1,628 | 54.1 bp −$27.0K |
| Sell Kraken Futures live order book, 3 min ago | 1.12 bp | 6.9 bp −$7 | 8.4 bp −$84 | 15.9 bp −$1,589 | 53.8 bp −$26.9K |
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 | −0.1400% | 1h | 93.873 | −0.167% | $199K | $229K | 7x | as long as short |
| Aftermath Perps HYPEUSD | −0.0343% | 1h | 93.963 | −0.071% | $22K | $22K | 10x | as long as short |
| Arcus HYPE-USD | −0.0233% | 1h | 93.874 | −0.166% | $1.2M | $3.8M | 10x | as long as short |
| Ondo Perps HYPE-USD.P | −0.0133% | 1h | 93.930 | −0.106% | $705K | $925K | 10x | as long as short |
| 01 Exchange HYPEUSD | −0.0080% | 1h | 94.013 | −0.018% | $86K | $368K | 20x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 93.983 | −0.050% | $3K | $331 | 25x | as long as short |
| Derive HYPE-PERP | −0.0011% | 1h | 93.993 | −0.039% | $16.4M | $7.2M | 10x | as long as short |
| dYdX HYPE-USD | −0.0007% | 1h | 93.976 | −0.058% | $128K | $30K | 5x | as long as short |
| Orderly PERP_HYPE_USDC | −0.0006% | 4h | 94.054 | +0.026% | $169K | $594K | 20x | as long as short |
| Perpl HYPE | 0.0000% | 43m | 94.002 | −0.029% | $23K | $329K | 10x | as long as short |
Hibachi HYPE/USDT-P
Aftermath Perps HYPEUSD
Arcus HYPE-USD
Ondo Perps HYPE-USD.P
01 Exchange HYPEUSD
Hotstuff HYPE-PERP
Derive HYPE-PERP
dYdX HYPE-USD
Orderly PERP_HYPE_USDC
Perpl HYPEShow 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 −0.0003% | 1h | 94.074 | +0.047% | $27K | — | 150x | as long as short |
| Phoenix HYPE | +0.0009% | 1h | 93.898 | −0.140% | $217K | $1.2M | 10x | as long as short |
| Aster HYPEUSDT | +0.0015% | 4h | 94.041 | +0.012% | $8.9M | $36.1M | 300x | as long as short |
| Bybit HYPEUSDTlong | +0.0017% | 8h | 94.030 | long leg | $323.6M | $283.9M | 75x | |
| Phemex HYPEUSDT | +0.0026% | 8h | 94.000 | −0.032% | $12.8M | $2.6M | 50x | as long as short |
| Binance HYPEUSDT | +0.0046% | 4h | 94.045 | +0.016% | $384.4M | $898.7M | 75x | as long as short |
| MEXC HYPE_USDT | +0.0046% | 4h | 94.041 | +0.012% | $88.5M | $82.3M | 100x | as long as short |
| edgeX HYPEUSDC | +0.0057% | 4h | 94.017 | −0.014% | $5.1M | $29.7M | 30x | as long as short |
| Popdex HYPEUSDT | +0.0064% | 1h | 94.015 | −0.016% | $60K | $1.2M | 50x | as long as short |
| Gate HYPE_USDT | +0.0068% | 4h | 94.038 | +0.009% | $44.2M | $60.1M | 75x | as long as short |
| Bullet HYPE-USD | +0.0072% | 1h | 94.038 | +0.008% | $112K | $578K | 20x | as long as short |
| OKX HYPE-USDT-SWAP | +0.0088% | 8h | 94.036 | +0.006% | $116.0M | $323.1M | 50x | as long as short |
| Lighter HYPE | +0.0096% | 1h | 94.104 | +0.078% | $18.9M | $60.5M | 20x | as long as short |
| Lighter RH HYPE | +0.0096% | 1h | 94.078 | +0.051% | $3.1M | $12.4M | 20x | as long as short |
| Aevo HYPE-PERP | +0.0096% | 1h | 94.068 | +0.040% | $400K | $318K | 20x | as long as short |
| Katana Perps HYPE-USD | +0.0099% | 8h | 94.040 | +0.011% | $42K | $1.6M | 10x | as long as short |
| Paradex HYPE-USD-PERP | +0.0099% | 8h | 94.030 | 0.000% | $342K | $171K | 20x | as long as short |
| Nado HYPE-PERP | +0.0100% | 1h | 94.014 | −0.016% | $6.6M | $44.9M | 10x | as long as short |
| Hyperliquid HYPE | +0.0100% | 1h | 94.144 | +0.121% | $2.05B | $680.2M | 10x | as long as short |
| Pacifica HYPE | +0.0100% | 1h | 94.017 | −0.014% | $10.1M | $14.5M | 20x | as long as short |
| Bulk HYPE-USD | +0.0100% | 1h | 93.889 | −0.150% | $205K | $7K | 10x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 94.045 | +0.016% | $46.6M | $18.6M | 75x | as long as short |
| Bitget HYPEUSDT | +0.0100% | 4h | 94.051 | +0.022% | $227.8M | $102.0M | 75x | as long as short |
| BingX HYPE-USDT | +0.0100% | 4h | 94.035 | +0.005% | — | $54.0M | — | as long as short |
| Backpack HYPE_USDC_PERP | +0.0100% | 1h | 94.082 | +0.055% | $7.9M | $10.4M | 20x | as long as short |
| Variational Omni HYPE | +0.0100% | 8h | 93.972 | −0.061% | $31.4M | $54.2M | — | as long as short |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 93.864 | −0.177% | $7.6M | $45.5M | 10x | as long as short |
| ApeX Omni HYPEUSDT | +0.0100% | 1h | 94.055 | +0.027% | $340K | $1.1M | 50x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 93.964 | −0.070% | $679K | $2.5M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 94.052 | +0.023% | — | $454K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 94.062 | +0.034% | $472K | $2.5M | 20x | as long as short |
| Bluefin HYPE-PERP | +0.0100% | 1h | 94.071 | +0.044% | $76K | $171K | 20x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 94.060 | +0.032% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 94.059 | +0.031% | $2.0M | $2.0M | 10x | as long as short |
| Injective HYPE/USDC PERP | +0.0104% | 1h | 94.410 | +0.404% | $31K | $338K | 12x | as long as short |
| Extended HYPE-USD | +0.0104% | 1h | 94.017 | −0.014% | $18.4M | $42.8M | 50x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0152% | 1h | 94.070 | +0.043% | $4.9M | $5.7M | 50x | as long as short |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0156% / S +0.0022% | 1h | 94.067 | +0.039% | $1.5M | — | 100x | as long as short |
| Kalshi KXHYPEPERP | +0.0159% | 8h | 94.096 | +0.070% | $1.9M | $5.1M | 2.3x | as long as short |
| BloFin HYPE-USDT | +0.0183% | 4h | 94.000 | −0.032% | $17.0M | $12.6M | 75x | as long as short |
| HTX HYPE-USDT | +0.0194% | 4h | 94.200 | +0.181% | $1.5M | $7.8M | 75x | as long as short |
| Reya HYPERUSDPERP | +0.0250% | 1h | 94.030 | 0.000% | $77K | $142K | 15x | as long as short |
| RISEx HYPE/USDC | +0.0284% | 1h | 94.041 | +0.012% | $2.8M | $6.9M | 20x | as long as short |
| Deribit HYPE_USDC-PERPETUAL | +0.0409% | 1h | 94.166 | +0.145% | $7.5M | $4.6M | 50x | as long as short |
| Kraken Futures PF_HYPEUSDshort | +0.0576% | 1h | 94.158 | +0.136% | $21.1M | $29.5M | 50x |
gTrade (Gains Network) HYPE/USD
Phoenix HYPE
Aster HYPEUSDT
Phemex HYPEUSDT
Binance HYPEUSDT
MEXC HYPE_USDT
edgeX HYPEUSDC
Popdex HYPEUSDT
Gate HYPE_USDT
Bullet HYPE-USD
OKX HYPE-USDT-SWAP
Lighter HYPE
Lighter RH HYPE
Aevo HYPE-PERP
Katana Perps HYPE-USD
Paradex HYPE-USD-PERP
Nado HYPE-PERP
Hyperliquid HYPE
Pacifica HYPE
Bulk HYPE-USD
KuCoin HYPEUSDTM
Bitget HYPEUSDT
BingX HYPE-USDT
Backpack HYPE_USDC_PERP
Variational Omni HYPE
GRVT HYPE_USDT_Perp
ApeX Omni HYPEUSDT
StandX HYPE-USD
Vest HYPE-PERP
Polymarket Perps HYPE-USD
Bluefin HYPE-PERP
SunX HYPE-USDT
SoDEX HYPE-USD
Injective HYPE/USDC PERP
Extended HYPE-USD
Coinbase International HYPE-PERP-INTX
GMX HYPE/USD [WBTC.b-USDC]
Kalshi KXHYPEPERP
BloFin HYPE-USDT
HTX HYPE-USDT
Reya HYPERUSDPERP
RISEx HYPE/USDC
Deribit HYPE_USDC-PERPETUAL