HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0047%/8h= +5.2% APRnext payment +$0.47 per $10,000 · paid last 24h +0.012%

Price spread now: Phemex against Bybit−0.064%7-day average +0.036% · you buy dearer than you sell

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$560.559% of the position

Long on Bybit Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.068%+$7 on $10k

Price spread, last 3 days (all we have)+0.043%+$4 · spread now −0.064%, 7d avg +0.036%

Together, before fees+0.111%+$11 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phemex is 0.100% cheaper against Bybit than usual: you would sell low and buy high (spread −0.064% now, against its 7-day average of +0.036%). If the spread goes back, that is −$10 on $10k: about 7.0 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit HYPEUSDT	94.070	0.0020	pay 0.0020% / 8h	53m 06s	$324.9M	$280.7M	75x
Short	Phemex HYPEUSDT	94.010	0.0068	get 0.0068% / 8h	53m 06s	$12.8M	$2.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.064%Rate

Funding earned: $9.93
Price spread: −0.064% → +0.036%: −$10
Slippage, 4 orders: −$32.91
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$55.98
Costs to cover: 0.559%
Break-even: 46.5 days

Slippage from Bybit: live order book, 1 min ago; Phemex: live order book, 6 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	0.53 bp	7.1 bp −$7	9.5 bp −$95	16.4 bp −$1,643	53.5 bp −$26.7K
Sell Phemex live order book, 6 min ago	3.52 bp	25.3 bp −$25	40.4 bp −$404	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	−0.0552%	1h	93.903	−0.178%	$199K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0484%	1h	93.816	−0.270%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	93.994	−0.081%	$1.2M	$3.8M	10x	as long as short
ApeX Omni HYPEUSDT	−0.0160%	1h	93.896	−0.185%	$349K	$1.1M	50x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.006	−0.068%	$3K	$331	25x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.092	+0.024%	$128K	$30K	5x	as long as short
Perpl HYPE	0.0000%	43m	94.073	+0.003%	$23K	$329K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	94.110	+0.043%	$28K	—	150x	as long as short
Phoenix HYPE	+0.0009%	1h	94.035	−0.037%	$215K	$1.2M	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0014%	4h	94.086	+0.017%	$176K	$526K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps HYPE-USD.P	+0.0019%	1h	93.990	−0.085%	$703K	$905K	10x	as long as short
Bybit HYPEUSDTlong	+0.0020%	8h	94.070	long leg	$324.9M	$280.7M	75x
Aster HYPEUSDT	+0.0031%	4h	94.086	+0.017%	$9.0M	$35.8M	300x	as long as short
Phemex HYPEUSDTshort	+0.0068%	8h	94.010	−0.064%	$12.8M	$2.6M	50x
Gate HYPE_USDT	+0.0070%	4h	94.085	+0.016%	$44.5M	$57.9M	75x	as long as short
MEXC HYPE_USDT	+0.0070%	4h	94.086	+0.017%	$90.8M	$80.4M	100x	as long as short
edgeX HYPEUSDC	+0.0073%	4h	93.924	−0.155%	$5.1M	$29.7M	30x	as long as short
Binance HYPEUSDT	+0.0073%	4h	94.087	+0.018%	$386.5M	$887.9M	75x	as long as short
Derive HYPE-PERP	+0.0082%	1h	94.016	−0.057%	$16.5M	$6.9M	10x	as long as short
Lighter HYPE	+0.0096%	1h	94.130	+0.064%	$19.1M	$59.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.114	+0.047%	$3.1M	$12.2M	20x	as long as short
01 Exchange HYPEUSD	+0.0096%	1h	94.095	+0.027%	$87K	$363K	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.078	+0.009%	$63K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	94.050	−0.021%	$400K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	94.034	−0.039%	$342K	$169K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.090	+0.021%	$29K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.078	+0.009%	$5.9M	$44.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.075	+0.005%	$10.2M	$14.5M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	94.084	+0.015%	$115.7M	$316.5M	50x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.094	+0.026%	$47.4M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	94.087	+0.018%	$228.0M	$102.5M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.085	+0.016%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.113	+0.046%	$7.9M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.882	−0.200%	$32.1M	$53.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.938	−0.140%	$7.6M	$45.5M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.945	−0.133%	$679K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.055	−0.016%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.090	+0.021%	$485K	$2.5M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	94.051	−0.020%	$113K	$578K	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	94.095	+0.027%	$76K	$166K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.125	+0.058%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.087	+0.018%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.680	−0.415%	$205K	$7K	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.170	+0.106%	$31K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.069	−0.001%	$18.7M	$42.1M	50x	as long as short
Kalshi KXHYPEPERP	+0.0124%	8h	94.141	+0.075%	$1.9M	$5.0M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	94.140	+0.074%	$4.9M	$5.7M	50x	as long as short
HTX HYPE-USDT	+0.0225%	4h	94.200	+0.138%	$1.5M	$7.7M	75x	as long as short
Reya HYPERUSDPERP	+0.0248%	1h	94.071	+0.001%	$77K	$142K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0271%	1h	94.174	+0.111%	$7.4M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	94.131	+0.065%	$2.8M	$6.8M	20x	as long as short
BloFin HYPE-USDT	+0.0293%	4h	94.084	+0.015%	$17.0M	$12.4M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0340% / S −0.0165%	1h	94.029	−0.043%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0576%	1h	94.190	+0.128%	$21.1M	$29.0M	50x	as long as short
Hyperliquid HYPE	+0.0699%	1h	94.123	+0.056%	$2.05B	$665.8M	10x	as long as short