HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0070%/8h= +7.7% APRnext payment +$0.70 per $10,000 · paid last 24h −0.003%

Price spread now: OKX against Bybit+0.029%7-day average +0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$250.245% of the position

Long on Bybit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.003%$0 on $10k

Price spread, last 7 days−0.022%−$2 · spread now +0.029%, 7d avg +0.006%

Together, before fees−0.019%−$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and OKX is 0.023% dearer against Bybit than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit HYPEUSDT	93.250	0.0030	pay 0.0030% / 8h	3h 07m	$317.8M	$284.4M	75x
Short	OKX HYPE-USDT-SWAP	93.277	0.0100	get 0.0100% / 8h	3h 07m	$114.4M	$306.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Bybit. 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 BybitbpFee OKXbpOrdersPrice spread, now +0.029%Rate

Funding earned: $14.79
Price spread: +0.029% → +0.006%: $2.31
Slippage, 4 orders: −$3.53
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee OKX: 5 bp × 2 orders: −$10
Net: −$7.43
Costs to cover: 0.245%
Break-even: 10.5 days

Slippage from Bybit: live order book, 1 min ago; OKX: live order book, 1 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, 1 min ago	0.54 bp	6.6 bp −$7	8.2 bp −$82	15.7 bp −$1,566	49.6 bp −$24.8K
Sell OKX live order book, 1 min ago	0.05 bp	5.1 bp −$5	6.7 bp −$67	17.3 bp −$1,730	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	−0.1824%	1h	92.940	−0.332%	$194K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0317%	1h	93.073	−0.190%	$22K	$21K	10x	as long as short
Arcus HYPE-USD	−0.0194%	1h	93.086	−0.176%	$1.1M	$3.9M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.022	−0.245%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0050%	4h	93.179	−0.076%	$146K	$670K	20x	as long as short
Bullet HYPE-USD	−0.0005%	1h	93.162	−0.094%	$111K	$578K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.076	−0.187%	$128K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.202	−0.052%	$22K	$293K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.228	−0.024%	$62K	—	150x	as long as short
Ondo Perps HYPE-USD.P	+0.0002%	1h	93.050	−0.214%	$700K	$1.1M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange HYPEUSD	+0.0016%	1h	93.155	−0.102%	$87K	$365K	20x	as long as short
Phoenix HYPE	+0.0026%	1h	93.132	−0.127%	$209K	$1.2M	10x	as long as short
Bybit HYPEUSDTlong	+0.0030%	8h	93.250	long leg	$317.8M	$284.4M	75x
Bitget HYPEUSDT	+0.0032%	4h	93.254	+0.004%	$225.6M	$98.8M	75x	as long as short
Phemex HYPEUSDT	+0.0032%	8h	93.177	−0.078%	$12.6M	$2.7M	50x	as long as short
Popdex HYPEUSDT	+0.0056%	1h	93.129	−0.130%	$76K	$1.1M	50x	as long as short
Gate HYPE_USDT	+0.0080%	4h	93.237	−0.014%	$45.6M	$54.9M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	93.139	−0.119%	$339K	$162K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.225	−0.026%	$16.1M	$62.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.231	−0.020%	$3.1M	$11.7M	20x	as long as short
edgeX HYPEUSDC	+0.0099%	4h	93.100	−0.161%	$4.9M	$29.7M	30x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.090	−0.172%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.138	−0.120%	$6.8M	$46.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.286	+0.039%	$2.03B	$664.4M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.238	−0.013%	$8.7M	$36.3M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.127	−0.132%	$10.0M	$15.3M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.255	+0.005%	$374.2M	$909.9M	75x	as long as short
OKX HYPE-USDT-SWAPshort	+0.0100%	8h	93.277	+0.029%	$114.4M	$306.0M	50x
Bulk HYPE-USD	+0.0100%	1h	93.125	−0.134%	$203K	$3K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.257	+0.008%	$92.0M	$81.6M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.238	−0.013%	$46.2M	$18.5M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.217	−0.035%	—	$53.8M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.275	+0.027%	$7.3M	$11.0M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.028	−0.238%	$28.6M	$56.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.156	−0.101%	$7.5M	$46.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.126	−0.133%	$342K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.110	−0.150%	$665K	$2.9M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.179	−0.076%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.168	−0.088%	$488K	$2.7M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.236	−0.015%	$79K	$167K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.207	−0.046%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.257	+0.008%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.217	−0.035%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.300	+0.054%	$1.4M	$6.3M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.230	−0.022%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.238	−0.012%	$394K	$164K	20x	as long as short
Kalshi KXHYPEPERP	+0.0121%	8h	93.319	+0.074%	$1.8M	$5.5M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.230	−0.021%	$4.7M	$5.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0196%	1h	93.294	+0.048%	$20.8M	$29.4M	50x	as long as short
Injective HYPE/USDC PERP	+0.0242%	1h	93.020	−0.247%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0266%	1h	93.184	−0.070%	$80K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0154%	1h	93.218	−0.034%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.029	−0.237%	$16.8M	$11.8M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0522%	1h	93.313	+0.068%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0598%	1h	93.183	−0.072%	$3.2M	$6.2M	20x	as long as short