HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0100%/8h= +10.9% APRnext payment +$0.13 per $10,000 · paid last 24h +0.030%

Price spread now: Bulk against dYdX+0.062%7-day average +0.036% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$210.214% of the position

Long on dYdX Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.082%+$8 on $10k

Price spread, last 4 days (all we have)+0.188%+$19 · spread now +0.062%, 7d avg +0.036%

Together, before fees+0.270%+$27 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Bulk is 0.026% dearer against dYdX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX HYPE-USD	93.522	0	get 0.0000% / 1h	42m 37s	$128K	$31K	5x
Short	Bulk HYPE-USD	93.580	0.0100	get 0.0013% / 1h	42m 37s	$204K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk 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 BulkbpOrdersPrice spread, now +0.062%Rate

Funding earned: $21
Price spread: +0.062% → +0.036%: $2.61
Slippage, 4 orders: −$4.37
Fee dYdX: 5 bp × 2 orders: −$10
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: $2.24
Costs to cover: 0.214%
Break-even: 6.3 days

Slippage from dYdX: live order book, 21 min ago; Bulk: live order book, 21 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, 21 min ago	1.65 bp	6.7 bp −$7	18.2 bp −$182	211.8 bp −$21.2K	1354.7 bp −$677.4K
Sell Bulk live order book, 21 min ago	0.54 bp	4.0 bp −$4	7.0 bp −$70	14.5 bp −$1,447	27.4 bp −$13.7K

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	−0.1240%	1h	93.378	−0.155%	$196K	$226K	7x	as long as short
Arcus HYPE-USD	−0.0899%	1h	93.446	−0.082%	$1.2M	$3.8M	10x	as long as short
Bluefin HYPE-PERP	−0.0178%	1h	93.529	+0.007%	$79K	$170K	20x	as long as short
Phemex HYPEUSDT	−0.0086%	8h	93.495	−0.029%	$12.6M	$2.7M	50x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.485	−0.040%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0046%	4h	93.514	−0.009%	$156K	$629K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0041%	1h	93.400	−0.131%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0040%	1h	93.554	+0.034%	$85K	$345K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0010%	1h	93.500	−0.024%	$698K	$981K	10x	as long as short
dYdX HYPE-USDlong	0.0000%	1h	93.522	long leg	$128K	$31K	5x

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	93.474	−0.052%	$23K	$322K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.557	+0.037%	$62K	—	150x	as long as short
BingX HYPE-USDT	+0.0008%	4h	93.577	+0.059%	—	$53.0M	—	as long as short
Aster HYPEUSDT	+0.0020%	4h	93.559	+0.040%	$8.8M	$35.6M	300x	as long as short
Phoenix HYPE	+0.0026%	1h	93.549	+0.029%	$213K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0032%	8h	93.570	+0.051%	$323.0M	$277.0M	75x	as long as short
Bullet HYPE-USD	+0.0050%	1h	93.513	−0.010%	$111K	$578K	20x	as long as short
Gate HYPE_USDT	+0.0054%	4h	93.578	+0.060%	$44.7M	$54.6M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0078%	8h	93.573	+0.054%	$114.5M	$302.7M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.612	+0.096%	$16.4M	$61.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.601	+0.084%	$3.1M	$11.5M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.487	−0.038%	$68K	$1.2M	50x	as long as short
MEXC HYPE_USDT	+0.0096%	4h	93.577	+0.059%	$88.8M	$80.3M	100x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.616	+0.100%	$340K	$162K	20x	as long as short
edgeX HYPEUSDC	+0.0099%	4h	93.527	+0.005%	$5.1M	$30.0M	30x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.570	+0.051%	$19K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.475	−0.051%	$5.8M	$43.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.647	+0.134%	$2.04B	$655.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.616	+0.100%	$10.1M	$14.6M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.603	+0.087%	$380.1M	$877.2M	75x	as long as short
Bulk HYPE-USDshort	+0.0100%	1h	93.580	+0.062%	$204K	$10K	10x
KuCoin HYPEUSDTM	+0.0100%	4h	93.597	+0.080%	$46.0M	$18.1M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.564	+0.045%	$226.3M	$96.7M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.555	+0.035%	$7.4M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.339	−0.196%	$31.1M	$54.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.288	−0.251%	$7.5M	$45.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.588	+0.070%	$340K	$999K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.524	+0.002%	$667K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.547	+0.026%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.533	+0.012%	$472K	$2.5M	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.532	+0.010%	$16.2M	$7.6M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.628	+0.113%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.580	+0.062%	$2.0M	$1.9M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.530	+0.009%	$18.4M	$43.7M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.571	+0.052%	$398K	$163K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.690	+0.179%	$4.9M	$5.4M	50x	as long as short
HTX HYPE-USDT	+0.0202%	4h	93.700	+0.190%	$1.4M	$6.0M	75x	as long as short
Reya HYPERUSDPERP	+0.0257%	1h	93.505	−0.019%	$80K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0279%	8h	93.529	+0.007%	$1.9M	$5.1M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0156%	1h	93.557	+0.037%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0337%	4h	93.577	+0.059%	$17.0M	$11.7M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0359%	1h	93.656	+0.143%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0510%	1h	93.644	+0.131%	$3.2M	$6.5M	20x	as long as short
Injective HYPE/USDC PERP	+0.0519%	1h	93.350	−0.184%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0683%	1h	93.644	+0.131%	$20.8M	$30.1M	50x	as long as short