HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC+0.0072%/8h= +7.9% APRnext payment +$0.72 per $10,000 · paid last 24h +0.029%

Price spread now: Paradex against Bybit+0.039%7-day average +0.039% · 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−$28as in the Price arb table

costs, in and out, $10k−$280.283% of the position

Long on Bybit Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.039%+$4 on $10k

Price spread, last 4 days (all we have)−0.005%$0 · spread now +0.039%, 7d avg +0.039%

Together, before fees+0.035%+ Points / potential airdropParadex: Active · farm board+$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.039%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit HYPEUSDT	95.105	−0.0024	get 0.0024% / 8h	7h 16m	$319.6M	$288.8M	75x
Short	Paradex HYPE-USD-PERP	95.142	0.0049	get 0.0049% / 8h	7h 16m	$340K	$38K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.039%Rate

Funding earned: $15.17
Price spread: +0.039% → +0.039%: −$0.01
Slippage, 4 orders: −$13.3
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$13.14
Costs to cover: 0.283%
Break-even: 13.1 days

Slippage from Bybit: live order book, 3 min ago; Paradex: live order book, 18 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, 3 min ago	0.53 bp	8.0 bp −$8	9.0 bp −$90	16.6 bp −$1,655	45.3 bp −$22.6K
Sell Paradex live order book, 18 min ago	5.08 bp	7.1 bp −$7	11.5 bp −$115	doesn't fit	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	−0.0808%	1h	95.071	−0.036%	$212K	$265K	7x	as long as short
Bluefin HYPE-PERP	−0.0538%	1h	95.082	−0.024%	$79K	$148K	20x	as long as short
Phemex HYPEUSDT	−0.0274%	8h	95.037	−0.071%	$13.0M	$2.8M	50x	as long as short
Aftermath Perps HYPEUSD	−0.0262%	1h	94.997	−0.113%	$22K	$19K	10x	as long as short
Bullet HYPE-USD	−0.0202%	1h	95.129	+0.025%	$113K	$577K	20x	as long as short
dYdX HYPE-USD	−0.0134%	1h	95.162	+0.060%	$130K	$93K	5x	as long as short
Ondo Perps HYPE-USD.P	−0.0131%	1h	95.070	−0.037%	$705K	$1.3M	10x	as long as short
01 Exchange HYPEUSD	−0.0112%	1h	95.137	+0.034%	$90K	$356K	20x	as long as short
Arcus HYPE-USD	−0.0112%	1h	95.086	−0.020%	$1.0M	$3.2M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	95.130	+0.026%	$3K	$331	25x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_HYPEUSD	−0.0047%	1h	95.108	+0.003%	$18.9M	$35.7M	50x	as long as short
Bybit HYPEUSDTlong	−0.0024%	8h	95.105	long leg	$319.6M	$288.8M	75x
BingX HYPE-USDT	−0.0018%	4h	95.128	+0.024%	—	$52.7M	—	as long as short
Orderly PERP_HYPE_USDC	−0.0006%	4h	95.095	−0.011%	$148K	$670K	20x	as long as short
Gate HYPE_USDT	−0.0004%	4h	95.106	+0.001%	$52.6M	$56.3M	75x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	95.207	+0.107%	$1.9M	$5.5M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	95.131	+0.027%	$19K	$274K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	95.158	+0.056%	$86K	—	150x	as long as short
Phoenix HYPE	+0.0008%	1h	95.051	−0.057%	$212K	$1.2M	10x	as long as short
Derive HYPE-PERP	+0.0010%	1h	94.160	−0.993%	$16.3M	$7.5M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0016%	1h	95.150	+0.047%	$4.7M	$5.8M	50x	as long as short
Vest HYPE-PERP	+0.0032%	1h	95.214	+0.115%	—	$126K	5x	as long as short
OKX HYPE-USDT-SWAP	+0.0038%	8h	95.095	−0.011%	$118.6M	$324.4M	50x	as long as short
Bitget HYPEUSDT	+0.0040%	4h	95.131	+0.027%	$228.3M	$95.1M	75x	as long as short
Paradex HYPE-USD-PERPshort	+0.0049%	8h	95.142	+0.039%	$340K	$38K	20x
Backpack HYPE_USDC_PERP	+0.0058%	1h	95.112	+0.007%	$7.6M	$10.3M	20x	as long as short
SoDEX HYPE-USD	+0.0094%	1h	95.112	+0.007%	$2.1M	$1.9M	10x	as long as short
Lighter HYPE	+0.0096%	1h	95.108	+0.003%	$16.3M	$63.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	95.118	+0.014%	$3.2M	$10.4M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	95.101	−0.004%	$149K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	95.120	+0.016%	$40K	$1.5M	10x	as long as short
edgeX HYPEUSDC	+0.0100%	4h	95.084	−0.022%	$5.1M	$31.0M	30x	as long as short
Nado HYPE-PERP	+0.0100%	1h	95.096	−0.009%	$6.6M	$51.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	95.245	+0.147%	$2.10B	$676.9M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	95.107	+0.002%	$8.9M	$36.9M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	95.137	+0.034%	$10.3M	$14.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	95.118	+0.014%	$382.9M	$917.9M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	95.126	+0.023%	$222K	$14K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	95.127	+0.023%	$98.7M	$88.7M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	95.109	+0.004%	$47.4M	$18.6M	75x	as long as short
Variational Omni HYPE	+0.0100%	8h	95.031	−0.078%	$29.8M	$56.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	95.104	−0.001%	$7.7M	$44.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.976	−0.136%	$356K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	95.146	+0.043%	$692K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	95.120	+0.016%	$500K	$2.7M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	95.054	−0.054%	$33K	$1.5M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.262	+0.165%	$1.4M	$6.7M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	95.078	−0.029%	$18.3M	$42.4M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	95.115	+0.010%	$402K	$148K	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0118%	1h	95.189	+0.088%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	95.192	+0.092%	$3.1M	$6.3M	20x	as long as short
Injective HYPE/USDC PERP	+0.0153%	1h	95.380	+0.289%	$31K	$340K	12x	as long as short
Reya HYPERUSDPERP	+0.0271%	1h	95.093	−0.013%	$83K	$97K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0155%	1h	95.204	+0.104%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	95.158	+0.056%	$17.2M	$12.4M	75x	as long as short