HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +10.9% APRnext payment +$0.13 per $10,000 · paid last 24h +0.035%

Price spread now: Bluefin against dYdX−0.108%7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$83as in the Funding arb table

Net, price: spread back to 7d avg − costs−$96as in the Price arb table

costs, in and out, $10k−$860.858% of the position

Long on dYdX Short on Bluefin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.028%+$3 on $10k

Price spread, last 3 days (all we have)+0.012%+$1 · spread now −0.108%, 7d avg −0.008%

Together, before fees+0.040%+$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bluefin is 0.100% cheaper against dYdX than usual: you would sell low and buy high (spread −0.108% now, against its 7-day average of −0.008%). If the spread goes back, that is −$10 on $10k: about 3.3 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.028% in total) that is about 25 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX HYPE-USD	93.124	0	get 0.0000% / 1h	31m 58s	$127K	$32K	5x
Short	Bluefin HYPE-PERP	93.023	0.0100	get 0.0013% / 1h	31m 58s	$76K	$168K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bluefin 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 BluefinbpOrdersPrice spread, now −0.108%Rate

Funding earned: $21
Price spread: −0.108% → −0.008%: −$9.95
Slippage, 4 orders: −$68.82
Fee dYdX: 5 bp × 2 orders: −$10
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: −$74.77
Costs to cover: 0.858%
Break-even: 31.9 days

Slippage from dYdX: live order book, 52 min ago; Bluefin: live order book, 52 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, 52 min ago	25.29 bp	30.3 bp −$30	42.7 bp −$427	131.3 bp −$13.1K	547.5 bp −$273.7K
Sell Bluefin live order book, 52 min ago	1.92 bp	12.2 bp −$12	doesn't fit	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
Aftermath Perps HYPEUSD	−0.0390%	1h	93.117	−0.007%	$22K	$22K	10x	as long as short
Hibachi HYPE/USDT-P	−0.0224%	1h	93.046	−0.083%	$196K	$230K	7x	as long as short
Arcus HYPE-USD	−0.0131%	1h	93.029	−0.102%	$1.2M	$4.0M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0119%	1h	93.010	−0.122%	$698K	$924K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.084	−0.042%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0024%	1h	93.051	−0.078%	$90K	$362K	20x	as long as short
Popdex HYPEUSDT	−0.0016%	1h	93.043	−0.086%	$57K	$1.2M	50x	as long as short
Aster HYPEUSDT	0.0000%	4h	93.045	−0.085%	$8.8M	$36.0M	300x	as long as short
dYdX HYPE-USDlong	0.0000%	1h	93.124	long leg	$127K	$32K	5x
Perpl HYPE	0.0000%	43m	93.067	−0.061%	$23K	$331K	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 −0.0001%	1h	93.068	−0.060%	$20K	—	150x	as long as short
Bybit HYPEUSDT	+0.0025%	8h	93.030	−0.100%	$323.0M	$287.1M	75x	as long as short
Orderly PERP_HYPE_USDC	+0.0027%	4h	93.037	−0.093%	$171K	$519K	20x	as long as short
Bullet HYPE-USD	+0.0028%	1h	93.028	−0.103%	$111K	$579K	20x	as long as short
Derive HYPE-PERP	+0.0028%	1h	93.004	−0.128%	$16.2M	$7.1M	10x	as long as short
Phoenix HYPE	+0.0034%	1h	93.106	−0.019%	$214K	$1.2M	10x	as long as short
Gate HYPE_USDT	+0.0042%	4h	93.026	−0.105%	$43.9M	$58.2M	75x	as long as short
MEXC HYPE_USDT	+0.0076%	4h	93.032	−0.098%	$89.9M	$81.9M	100x	as long as short
Binance HYPEUSDT	+0.0077%	4h	93.018	−0.113%	$382.2M	$894.3M	75x	as long as short
Lighter HYPE	+0.0096%	1h	93.093	−0.033%	$18.5M	$58.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.095	−0.031%	$3.1M	$12.1M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0098%	8h	93.095	−0.031%	$338K	$170K	20x	as long as short
edgeX HYPEUSDC	+0.0099%	4h	93.079	−0.048%	$5.1M	$29.6M	30x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.110	−0.015%	$34K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.041	−0.088%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.087	−0.039%	$2.02B	$670.7M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.105	−0.020%	$10.0M	$14.3M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.030	−0.100%	$113.7M	$313.7M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.390	+0.286%	$204K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.077	−0.050%	$47.0M	$18.9M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.054	−0.075%	$225.5M	$103.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.019	−0.112%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.049	−0.080%	$7.8M	$11.1M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.034	−0.096%	$29.0M	$50.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.144	+0.022%	$7.5M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.135	+0.012%	$412K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.099	−0.026%	$673K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.070	−0.057%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.075	−0.052%	$492K	$2.5M	20x	as long as short
Bluefin HYPE-PERPshort	+0.0100%	1h	93.023	−0.108%	$76K	$168K	20x
SunX HYPE-USDT	+0.0100%	4h	93.106	−0.019%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.038	−0.092%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.064	−0.064%	$12.7M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.029	−0.102%	$18.2M	$42.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.023	−0.108%	$396K	$318K	20x	as long as short
Kalshi KXHYPEPERP	+0.0107%	8h	93.131	+0.008%	$1.9M	$5.3M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.080	−0.047%	$4.9M	$5.7M	50x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	93.070	−0.057%	$30K	$338K	12x	as long as short
Reya HYPERUSDPERP	+0.0247%	1h	93.004	−0.128%	$77K	$158K	15x	as long as short
HTX HYPE-USDT	+0.0247%	4h	93.200	+0.082%	$1.5M	$7.7M	75x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.127	+0.004%	$2.8M	$6.8M	20x	as long as short
BloFin HYPE-USDT	+0.0308%	4h	93.074	−0.053%	$16.9M	$12.5M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0158%	1h	93.067	−0.061%	$1.5M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0416%	1h	93.148	+0.026%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0466%	1h	93.170	+0.050%	$20.8M	$28.9M	50x	as long as short