HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0760%/8h= −83.2% APRnext payment −$0.95 per $10,000 · paid last 24h −0.204%

Price spread now: Hibachi against Coinbase International−0.091%7-day average −0.053% · you buy dearer than you sell

Net, funding: paid 7d − costs−$230as in the Funding arb table

Net, price: spread back to 7d avg − costs−$81as in the Price arb table

costs, in and out, $10k−$770.771% of the position

Long on Coinbase International Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 7 days−1.525%−$152 on $10k

Price spread, last 3 days (all we have)−0.035%−$4 · spread now −0.091%, 7d avg −0.053%

Together, before fees−1.560%+ Points / potential airdropHibachi: Active · farm board−$156 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$23 a day on $10k at the current rate, and Hibachi is 0.038% cheaper against Coinbase International than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.053%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International HYPE-PERP-INTX	94.120	0.0152	pay 0.0019% / 1h	50m 02s	$4.9M	$5.7M	50x
Short	Hibachi HYPE/USDT-P	94.035	−0.0608	pay 0.0076% / 1h	50m 02s	$199K	$230K	7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi 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 HibachibpOrdersPrice spread, now −0.091%Rate

Funding earned: −$159.6
Price spread: −0.091% → −0.053%: −$3.77
Slippage, 4 orders: −$58.14
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: −$240.51
Costs to cover: 0.771%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; Hibachi: live order book, 29 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, 4 min ago	3.19 bp	9.7 bp −$10	15.2 bp −$152	39.4 bp −$3,944	doesn't fit
Sell Hibachi live order book, 29 min ago	16.26 bp	37.8 bp −$38	57.5 bp −$575	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-Pshort	−0.0608%	1h	94.035	−0.091%	$199K	$230K	7x
Aftermath Perps HYPEUSD	−0.0456%	1h	93.938	−0.194%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	94.004	−0.123%	$1.2M	$3.8M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.110	−0.011%	$3K	$331	25x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.092	−0.029%	$128K	$30K	5x	as long as short
Perpl HYPE	0.0000%	43m	94.113	−0.007%	$23K	$329K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	94.078	−0.045%	$27K	—	150x	as long as short
Phoenix HYPE	+0.0009%	1h	94.035	−0.090%	$215K	$1.2M	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0013%	4h	94.076	−0.047%	$176K	$526K	20x	as long as short
Bybit HYPEUSDT	+0.0021%	8h	94.080	−0.042%	$324.7M	$281.4M	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	+0.0037%	4h	94.102	−0.019%	$8.9M	$35.8M	300x	as long as short
Ondo Perps HYPE-USD.P	+0.0037%	1h	94.020	−0.106%	$704K	$908K	10x	as long as short
Phemex HYPEUSDT	+0.0065%	8h	94.047	−0.078%	$12.8M	$2.6M	50x	as long as short
Gate HYPE_USDT	+0.0072%	4h	94.061	−0.063%	$44.5M	$58.0M	75x	as long as short
edgeX HYPEUSDC	+0.0073%	4h	93.924	−0.208%	$5.1M	$29.7M	30x	as long as short
MEXC HYPE_USDT	+0.0074%	4h	94.100	−0.021%	$88.5M	$80.9M	100x	as long as short
Binance HYPEUSDT	+0.0077%	4h	94.102	−0.019%	$386.6M	$888.7M	75x	as long as short
Derive HYPE-PERP	+0.0082%	1h	94.015	−0.112%	$16.5M	$6.9M	10x	as long as short
01 Exchange HYPEUSD	+0.0088%	1h	94.109	−0.012%	$86K	$364K	20x	as long as short
Lighter HYPE	+0.0096%	1h	94.112	−0.008%	$19.1M	$59.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.095	−0.027%	$3.1M	$12.2M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.094	−0.028%	$64K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	94.066	−0.058%	$400K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	94.125	+0.005%	$342K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.100	−0.021%	$29K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.093	−0.028%	$5.9M	$44.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.114	−0.006%	$10.2M	$14.5M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	94.085	−0.037%	$115.9M	$317.5M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.095	−0.026%	$205K	$7K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.107	−0.014%	$47.3M	$18.4M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	94.113	−0.007%	$227.9M	$102.6M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.049	−0.075%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.087	−0.035%	$7.9M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.073	−0.050%	$32.2M	$53.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.938	−0.193%	$7.6M	$45.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.072	−0.051%	$335K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.098	−0.023%	$680K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.141	+0.022%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.130	+0.011%	$485K	$2.5M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	94.055	−0.069%	$113K	$578K	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	94.049	−0.075%	$76K	$166K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.078	−0.045%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.056	−0.068%	$2.0M	$2.0M	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.050	−0.074%	$31K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.087	−0.035%	$18.7M	$42.1M	50x	as long as short
Kalshi KXHYPEPERP	+0.0124%	8h	94.129	+0.010%	$1.9M	$5.0M	2.3x	as long as short
Coinbase International HYPE-PERP-INTXlong	+0.0152%	1h	94.120	long leg	$4.9M	$5.7M	50x
HTX HYPE-USDT	+0.0229%	4h	94.242	+0.130%	$1.5M	$7.7M	75x	as long as short
Reya HYPERUSDPERP	+0.0248%	1h	94.065	−0.059%	$77K	$142K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0281%	1h	94.156	+0.038%	$7.4M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	94.144	+0.026%	$2.8M	$6.8M	20x	as long as short
BloFin HYPE-USDT	+0.0303%	4h	94.097	−0.024%	$17.0M	$12.4M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0340% / S −0.0165%	1h	94.070	−0.053%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0576%	1h	94.176	+0.060%	$21.1M	$29.0M	50x	as long as short
Hyperliquid HYPE	+0.0723%	1h	94.154	+0.036%	$2.05B	$666.7M	10x	as long as short