HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0233%/8h= −25.5% APRnext payment −$0.29 per $10,000 · paid last 24h −0.027%

Price spread now: Arcus against dYdX−0.069%7-day average −0.034% · 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−$70as in the Price arb table

costs, in and out, $10k−$670.669% of the position

Long on dYdX Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.185%+$19 · spread now −0.069%, 7d avg −0.034%

Together, before fees+0.189%+$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Arcus is 0.035% cheaper against dYdX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.034%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.003% in total (about 0.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.29 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX HYPE-USD	93.912	0	get 0.0000% / 1h	56m 24s	$128K	$32K	5x
Short	Arcus HYPE-USD	93.847	−0.0233	pay 0.0029% / 1h	56m 24s	$1.2M	$3.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against dYdX. 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 dYdXbpFee ArcusbpOrdersPrice spread, now −0.069%Rate

Funding earned: −$48.83
Price spread: −0.069% → −0.034%: −$3.51
Slippage, 4 orders: −$52.43
Fee dYdX: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$119.27
Costs to cover: 0.669%
Break-even: never at this rate

Slippage from dYdX: live order book, 23 min ago; Arcus: live order book, 3 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 dYdX live order book, 23 min ago	25.09 bp	30.1 bp −$30	42.5 bp −$425	480.5 bp −$48.0K	1639.4 bp −$819.7K
Sell Arcus live order book, 3 min ago	0.75 bp	3.4 bp −$3	6.1 bp −$61	24.2 bp −$2,422	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	−0.0520%	1h	93.829	−0.088%	$199K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0486%	1h	93.686	−0.241%	$22K	$22K	10x	as long as short
Arcus HYPE-USDshort	−0.0233%	1h	93.847	−0.069%	$1.2M	$3.8M	10x
Hotstuff HYPE-PERP	−0.0080%	1h	93.892	−0.021%	$3K	$331	25x	as long as short
dYdX HYPE-USDlong	0.0000%	1h	93.912	long leg	$128K	$32K	5x
Perpl HYPE	0.0000%	43m	93.920	+0.009%	$23K	$330K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.951	+0.042%	$28K	—	150x	as long as short
Ondo Perps HYPE-USD.P	+0.0003%	1h	93.830	−0.087%	$703K	$903K	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0014%	4h	93.930	+0.019%	$176K	$526K	20x	as long as short
Bybit HYPEUSDT	+0.0018%	8h	93.910	−0.002%	$324.8M	$280.5M	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	93.928	+0.017%	$8.9M	$35.8M	300x	as long as short
Phoenix HYPE	+0.0034%	1h	93.805	−0.114%	$215K	$1.2M	10x	as long as short
Gate HYPE_USDT	+0.0064%	4h	93.925	+0.014%	$44.5M	$57.9M	75x	as long as short
MEXC HYPE_USDT	+0.0066%	4h	93.925	+0.014%	$90.8M	$80.3M	100x	as long as short
Derive HYPE-PERP	+0.0069%	1h	93.859	−0.056%	$16.4M	$6.9M	10x	as long as short
Binance HYPEUSDT	+0.0070%	4h	93.929	+0.018%	$385.6M	$885.5M	75x	as long as short
Phemex HYPEUSDT	+0.0074%	8h	93.842	−0.074%	$12.8M	$2.6M	50x	as long as short
edgeX HYPEUSDC	+0.0078%	4h	93.744	−0.178%	$5.1M	$29.6M	30x	as long as short
Lighter HYPE	+0.0096%	1h	93.966	+0.057%	$19.0M	$58.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.954	+0.045%	$3.1M	$12.2M	20x	as long as short
01 Exchange HYPEUSD	+0.0096%	1h	93.968	+0.060%	$91K	$355K	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.925	+0.014%	$63K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.859	−0.056%	$399K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.929	+0.018%	$341K	$169K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.920	+0.009%	$29K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.919	+0.008%	$5.9M	$44.1M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.953	+0.043%	$10.1M	$14.5M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.913	+0.001%	$115.0M	$314.6M	50x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.954	+0.045%	$47.3M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.936	+0.026%	$227.7M	$102.4M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.917	+0.005%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.926	+0.015%	$7.9M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.552	−0.383%	$30.9M	$51.8M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.616	−0.315%	$7.5M	$45.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.759	−0.163%	$393K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.862	−0.053%	$679K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.914	+0.002%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.946	+0.036%	$484K	$2.5M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	93.901	−0.012%	$112K	$577K	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.929	+0.018%	$76K	$166K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.979	+0.071%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.904	−0.008%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.680	−0.247%	$205K	$7K	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	93.750	−0.172%	$30K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.901	−0.011%	$18.6M	$42.0M	50x	as long as short
Kalshi KXHYPEPERP	+0.0120%	8h	93.972	+0.064%	$1.9M	$5.1M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	93.870	−0.045%	$4.9M	$5.7M	50x	as long as short
HTX HYPE-USDT	+0.0221%	4h	94.082	+0.181%	$1.5M	$7.7M	75x	as long as short
Reya HYPERUSDPERP	+0.0248%	1h	93.916	+0.004%	$77K	$142K	15x	as long as short
BloFin HYPE-USDT	+0.0266%	4h	93.898	−0.015%	$17.0M	$12.3M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0272%	1h	93.995	+0.088%	$7.4M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	93.981	+0.073%	$2.7M	$6.8M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0340% / S −0.0165%	1h	93.897	−0.016%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0577%	1h	94.020	+0.115%	$21.0M	$29.0M	50x	as long as short
Hyperliquid HYPE	+0.0602%	1h	93.968	+0.060%	$2.05B	$667.6M	10x	as long as short