HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0044%/8h= −4.8% APRnext payment −$0.06 per $10,000 · paid last 24h +0.008%

Price spread now: SoDEX against Coinbase International−0.060%7-day average +0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$340.338% of the position

Long on Coinbase International Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.131%+$13 on $10k

Price spread, last 4 days (all we have)+0.066%+$7 · spread now −0.060%, 7d avg +0.024%

Together, before fees+0.197%+$20 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and SoDEX is 0.085% 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 +0.024%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.131%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International HYPE-PERP-INTX	92.810	0.0144	pay 0.0018% / 1h	55m 23s	$4.7M	$5.5M	50x
Short	SoDEX HYPE-USD	92.754	0.0100	get 0.0013% / 1h	55m 23s	$2.0M	$2.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.060%Rate

Funding earned: −$9.24
Price spread: −0.060% → +0.024%: −$8.45
Slippage, 4 orders: −$15.83
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$51.52
Costs to cover: 0.338%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; SoDEX: live order book, 4 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	3.77 bp	9.5 bp −$9	13.7 bp −$137	37.2 bp −$3,723	doesn't fit
Sell SoDEX live order book, 4 min ago	0.43 bp	7.4 bp −$7	13.7 bp −$137	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	−0.0512%	1h	92.611	−0.214%	$193K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0266%	1h	92.810	0.000%	$22K	$21K	10x	as long as short
Arcus HYPE-USD	−0.0194%	1h	92.776	−0.037%	$1.1M	$3.9M	10x	as long as short
Gate HYPE_USDT	−0.0134%	4h	92.875	+0.070%	$44.5M	$53.5M	75x	as long as short
ApeX Omni HYPEUSDT	−0.0091%	1h	92.784	−0.028%	$350K	$1.0M	50x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.814	+0.004%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0063%	4h	92.892	+0.088%	$157K	$653K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.772	−0.041%	$127K	$29K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	92.832	+0.024%	$1.8M	$5.4M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	92.800	−0.010%	$22K	$302K	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.897	+0.093%	$62K	—	150x	as long as short
Bybit HYPEUSDT	+0.0039%	8h	92.900	+0.097%	$316.5M	$281.9M	75x	as long as short
Phoenix HYPE	+0.0043%	1h	92.888	+0.084%	$210K	$1.2M	10x	as long as short
Phemex HYPEUSDT	+0.0044%	8h	92.754	−0.060%	$12.5M	$2.7M	50x	as long as short
01 Exchange HYPEUSD	+0.0056%	1h	92.868	+0.062%	$87K	$362K	20x	as long as short
Aster HYPEUSDT	+0.0072%	4h	92.819	+0.010%	$8.7M	$36.2M	300x	as long as short
Bitget HYPEUSDT	+0.0082%	4h	92.919	+0.117%	$225.0M	$98.8M	75x	as long as short
edgeX HYPEUSDC	+0.0088%	4h	92.755	−0.059%	$4.9M	$29.5M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0096%	8h	92.792	−0.020%	$339K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.813	+0.003%	$16.0M	$62.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.798	−0.013%	$3.1M	$11.6M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.820	+0.011%	$69K	$1.1M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.810	0.000%	$39K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.767	−0.046%	$7.5M	$45.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.891	+0.087%	$2.02B	$664.6M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.827	+0.018%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.869	+0.063%	$373.1M	$903.2M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	92.917	+0.115%	$113.8M	$304.3M	50x	as long as short
Ondo Perps HYPE-USD.P	+0.0100%	1h	92.760	−0.054%	$697K	$1.1M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.800	−0.011%	$202K	$13K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.869	+0.064%	$88.2M	$79.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.824	+0.015%	$46.1M	$18.4M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	92.889	+0.085%	—	$53.8M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.855	+0.048%	$7.3M	$11.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.709	−0.109%	$28.4M	$57.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.766	−0.047%	$7.5M	$46.3M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.738	−0.078%	$666K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.873	+0.068%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.871	+0.066%	$468K	$2.6M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	92.841	+0.033%	$111K	$579K	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.925	+0.124%	$79K	$168K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.900	+0.097%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.673	−0.148%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USDshort	+0.0100%	1h	92.754	−0.060%	$2.0M	$2.0M	10x
Extended HYPE-USD	+0.0104%	1h	92.778	−0.035%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.917	+0.115%	$393K	$164K	20x	as long as short
HTX HYPE-USDT	+0.0118%	4h	92.871	+0.066%	$1.4M	$6.3M	75x	as long as short
Coinbase International HYPE-PERP-INTXlong	+0.0144%	1h	92.810	long leg	$4.7M	$5.5M	50x
Kraken Futures PF_HYPEUSD	+0.0197%	1h	92.829	+0.020%	$20.6M	$30.4M	50x	as long as short
Injective HYPE/USDC PERP	+0.0242%	1h	92.760	−0.054%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0264%	1h	92.853	+0.046%	$79K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0154%	1h	92.870	+0.065%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.727	−0.089%	$16.7M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0397%	1h	92.853	+0.046%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0598%	1h	92.874	+0.069%	$3.2M	$6.4M	20x	as long as short