HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0013%/8h= +1.4% APRnext payment +$0.02 per $10,000 · paid last 24h +0.036%

Price spread now: GMX against Coinbase International+0.007%7-day average +0.046% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Coinbase International Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.195%+$19 on $10k

Price spread, last 3 days (all we have)+0.120%+$12 · spread now +0.007%, 7d avg +0.046%

Together, before fees+0.315%+$32 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.038% cheaper against Coinbase International than usual: you would sell low and buy high (spread +0.007% now, against its 7-day average of +0.046%). If the spread goes back, that is −$4 on $10k: about 9.9 days of funding at the current rate ($0 a day). At the pace of the last 3 days (+0.195% in total) that is about 15 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International HYPE-PERP-INTX	93.870	0.0152	pay 0.0019% / 1h	56m 36s	$4.9M	$5.7M	50x
Short	GMX HYPE/USD [WBTC.b-USDC]	93.877	L +0.0340% / S −0.0165%	get 0.0021% / 1h	56m 36s	$1.4M	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 GMXbpOrdersPrice spread, now +0.007%Rate

Funding earned: $2.69
Price spread: +0.007% → +0.046%: −$3.83
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$23.13
Costs to cover: 0.220%
Break-even: 67.1 days

Slippage unknown: Coinbase International: live order book, 2 min ago; GMX: no order-book sample. Net counts fees only.

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, 2 min ago	3.73 bp	8.9 bp −$9	14.9 bp −$149	38.7 bp −$3,867	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0504%	1h	93.735	−0.144%	$198K	$228K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0486%	1h	93.638	−0.247%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	93.847	−0.025%	$1.2M	$3.8M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.892	+0.023%	$3K	$331	25x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.912	+0.045%	$128K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.882	+0.013%	$23K	$330K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.922	+0.055%	$28K	—	150x	as long as short
Ondo Perps HYPE-USD.P	+0.0003%	1h	93.830	−0.043%	$703K	$903K	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0014%	4h	93.908	+0.040%	$176K	$526K	20x	as long as short
Bybit HYPEUSDT	+0.0018%	8h	93.920	+0.053%	$324.9M	$280.7M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0024%	4h	93.933	+0.067%	$8.9M	$35.8M	300x	as long as short
Phoenix HYPE	+0.0034%	1h	93.805	−0.069%	$215K	$1.2M	10x	as long as short
Derive HYPE-PERP	+0.0063%	1h	93.839	−0.033%	$16.4M	$6.9M	10x	as long as short
Gate HYPE_USDT	+0.0064%	4h	93.909	+0.042%	$44.5M	$57.9M	75x	as long as short
MEXC HYPE_USDT	+0.0066%	4h	93.923	+0.056%	$90.7M	$80.3M	100x	as long as short
Binance HYPEUSDT	+0.0070%	4h	93.928	+0.062%	$385.6M	$885.5M	75x	as long as short
Phemex HYPEUSDT	+0.0074%	8h	93.842	−0.030%	$12.8M	$2.6M	50x	as long as short
edgeX HYPEUSDC	+0.0078%	4h	93.744	−0.134%	$5.1M	$29.6M	30x	as long as short
Lighter HYPE	+0.0096%	1h	93.966	+0.102%	$19.0M	$58.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.954	+0.089%	$3.1M	$12.2M	20x	as long as short
01 Exchange HYPEUSD	+0.0096%	1h	93.968	+0.104%	$91K	$355K	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.925	+0.059%	$63K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.852	−0.019%	$399K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.929	+0.063%	$341K	$169K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.920	+0.053%	$29K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.919	+0.053%	$5.9M	$44.1M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.953	+0.088%	$10.1M	$14.5M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.919	+0.052%	$115.0M	$314.6M	50x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.936	+0.070%	$47.3M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.918	+0.051%	$227.6M	$102.4M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.912	+0.045%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.926	+0.060%	$7.9M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.552	−0.338%	$30.9M	$51.8M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.616	−0.270%	$7.5M	$45.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.759	−0.118%	$393K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.862	−0.009%	$679K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.914	+0.047%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.911	+0.044%	$484K	$2.5M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	93.888	+0.019%	$113K	$577K	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.903	+0.035%	$76K	$166K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.979	+0.116%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.904	+0.036%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.680	−0.202%	$205K	$7K	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	93.750	−0.128%	$30K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.901	+0.033%	$18.6M	$42.0M	50x	as long as short
Kalshi KXHYPEPERP	+0.0120%	8h	93.972	+0.109%	$1.9M	$5.1M	2.3x	as long as short
Coinbase International HYPE-PERP-INTXlong	+0.0152%	1h	93.870	long leg	$4.9M	$5.7M	50x
HTX HYPE-USDT	+0.0221%	4h	94.082	+0.226%	$1.5M	$7.7M	75x	as long as short
Reya HYPERUSDPERP	+0.0248%	1h	93.885	+0.016%	$77K	$142K	15x	as long as short
BloFin HYPE-USDT	+0.0266%	4h	93.898	+0.030%	$17.0M	$12.3M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0272%	1h	93.995	+0.133%	$7.4M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	93.981	+0.118%	$2.7M	$6.8M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]short	L +0.0340% / S −0.0165%	1h	93.877	+0.007%	$1.4M	—	100x
Kraken Futures PF_HYPEUSD	+0.0577%	1h	94.020	+0.160%	$21.0M	$29.0M	50x	as long as short
Hyperliquid HYPE	+0.0577%	1h	93.962	+0.098%	$2.05B	$667.6M	10x	as long as short