HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0152%/8h= −16.6% APRnext payment −$0.19 per $10,000 · paid last 24h −0.008%

Price spread now: dYdX against Coinbase International−0.051%7-day average +0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs−$87as in the Price arb table

costs, in and out, $10k−$790.787% of the position

Long on Coinbase International Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.038%−$4 on $10k

Price spread, last 3 days (all we have)+0.131%+$13 · spread now −0.051%, 7d avg +0.034%

Together, before fees+0.094%+$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and dYdX is 0.084% cheaper against Coinbase International than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.034%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International HYPE-PERP-INTX	94.140	0.0152	pay 0.0019% / 1h	53m 08s	$4.9M	$5.7M	50x
Short	dYdX HYPE-USD	94.092	0	get 0.0000% / 1h	53m 08s	$128K	$30K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Coinbase International. 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 Coinbase InternationalbpFee dYdXbpOrdersPrice spread, now −0.051%Rate

Funding earned: −$31.92
Price spread: −0.051% → +0.034%: −$8.43
Slippage, 4 orders: −$58.71
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$119.06
Costs to cover: 0.787%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 1 min ago; dYdX: live order book, 26 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 Coinbase International live order book, 1 min ago	3.19 bp	9.7 bp −$10	15.2 bp −$152	39.4 bp −$3,944	doesn't fit
Sell dYdX live order book, 26 min ago	25.09 bp	30.1 bp −$30	72.2 bp −$722	306.1 bp −$30.6K	1561.5 bp −$780.8K

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	−0.252%	$199K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0484%	1h	93.816	−0.344%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	93.994	−0.155%	$1.2M	$3.8M	10x	as long as short
ApeX Omni HYPEUSDT	−0.0160%	1h	93.896	−0.259%	$349K	$1.1M	50x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.006	−0.142%	$3K	$331	25x	as long as short
dYdX HYPE-USDshort	0.0000%	1h	94.092	−0.051%	$128K	$30K	5x
Perpl HYPE	0.0000%	43m	94.073	−0.071%	$23K	$329K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	94.110	−0.032%	$28K	—	150x	as long as short
Phoenix HYPE	+0.0009%	1h	94.035	−0.112%	$215K	$1.2M	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0014%	4h	94.086	−0.057%	$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	−0.159%	$703K	$905K	10x	as long as short
Bybit HYPEUSDT	+0.0020%	8h	94.070	−0.074%	$324.9M	$280.7M	75x	as long as short
Aster HYPEUSDT	+0.0031%	4h	94.086	−0.057%	$9.0M	$35.8M	300x	as long as short
Phemex HYPEUSDT	+0.0068%	8h	94.010	−0.138%	$12.8M	$2.6M	50x	as long as short
Gate HYPE_USDT	+0.0070%	4h	94.085	−0.058%	$44.5M	$57.9M	75x	as long as short
MEXC HYPE_USDT	+0.0070%	4h	94.086	−0.057%	$90.8M	$80.4M	100x	as long as short
edgeX HYPEUSDC	+0.0073%	4h	93.924	−0.229%	$5.1M	$29.7M	30x	as long as short
Binance HYPEUSDT	+0.0073%	4h	94.087	−0.056%	$386.5M	$887.9M	75x	as long as short
Derive HYPE-PERP	+0.0082%	1h	94.016	−0.132%	$16.5M	$6.9M	10x	as long as short
Lighter HYPE	+0.0096%	1h	94.130	−0.011%	$19.1M	$59.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.114	−0.028%	$3.1M	$12.2M	20x	as long as short
01 Exchange HYPEUSD	+0.0096%	1h	94.095	−0.048%	$87K	$363K	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.078	−0.066%	$63K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	94.050	−0.096%	$400K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	94.034	−0.113%	$342K	$169K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.090	−0.053%	$29K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.078	−0.065%	$5.9M	$44.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.075	−0.069%	$10.2M	$14.5M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	94.084	−0.059%	$115.7M	$316.5M	50x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.094	−0.049%	$47.4M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	94.087	−0.056%	$228.0M	$102.5M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.085	−0.058%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.113	−0.029%	$7.9M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.882	−0.274%	$32.1M	$53.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.938	−0.215%	$7.6M	$45.5M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.945	−0.207%	$679K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.055	−0.090%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.090	−0.053%	$485K	$2.5M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	94.051	−0.094%	$113K	$578K	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	94.095	−0.048%	$76K	$166K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.125	−0.016%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.087	−0.056%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.680	−0.489%	$205K	$7K	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.170	+0.032%	$31K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.069	−0.076%	$18.7M	$42.1M	50x	as long as short
Kalshi KXHYPEPERP	+0.0124%	8h	94.141	+0.001%	$1.9M	$5.0M	2.3x	as long as short
Coinbase International HYPE-PERP-INTXlong	+0.0152%	1h	94.140	long leg	$4.9M	$5.7M	50x
HTX HYPE-USDT	+0.0225%	4h	94.200	+0.064%	$1.5M	$7.7M	75x	as long as short
Reya HYPERUSDPERP	+0.0248%	1h	94.071	−0.073%	$77K	$142K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0271%	1h	94.174	+0.036%	$7.4M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	94.131	−0.009%	$2.8M	$6.8M	20x	as long as short
BloFin HYPE-USDT	+0.0293%	4h	94.084	−0.059%	$17.0M	$12.4M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0340% / S −0.0165%	1h	94.029	−0.118%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0576%	1h	94.190	+0.053%	$21.1M	$29.0M	50x	as long as short
Hyperliquid HYPE	+0.0699%	1h	94.123	−0.018%	$2.05B	$665.8M	10x	as long as short