HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0030%/8h= −3.3% APRnext payment −$0.04 per $10,000 · paid last 24h +0.021%

Price spread now: Bullet against dYdX−0.013%7-day average +0.022% · 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−$80as in the Price arb table

costs, in and out, $10k−$760.760% of the position

Long on dYdX Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.059%+$6 on $10k

Price spread, last 3 days (all we have)+0.357%+$36 · spread now −0.013%, 7d avg +0.022%

Together, before fees+0.416%+$42 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 Bullet 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 +0.022%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.059%, 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	dYdX HYPE-USD	93.563	0	get 0.0000% / 1h	31m 01s	$127K	$32K	5x
Short	Bullet HYPE-USD	93.551	−0.0030	pay 0.0004% / 1h	31m 01s	$112K	$583K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet 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 BulletbpOrdersPrice spread, now −0.013%Rate

Funding earned: −$6.35
Price spread: −0.013% → +0.022%: −$3.53
Slippage, 4 orders: −$58.02
Fee dYdX: 5 bp × 2 orders: −$10
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$85.9
Costs to cover: 0.760%
Break-even: never at this rate

Slippage from dYdX: live order book, 58 min ago; Bullet: live order book, 58 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, 58 min ago	26.01 bp	31.0 bp −$31	43.4 bp −$434	125.1 bp −$12.5K	846.0 bp −$423.0K
Sell Bullet live order book, 58 min ago	0.54 bp	6.3 bp −$6	11.0 bp −$110	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	−0.1072%	1h	93.498	−0.070%	$197K	$233K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0272%	1h	93.521	−0.046%	$22K	$22K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0240%	1h	93.520	−0.046%	$701K	$941K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.559	−0.005%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0072%	1h	93.585	+0.023%	$89K	$347K	20x	as long as short
Bullet HYPE-USDshort	−0.0030%	1h	93.551	−0.013%	$112K	$583K	20x
dYdX HYPE-USDlong	0.0000%	1h	93.563	long leg	$127K	$32K	5x
Perpl HYPE	0.0000%	43m	93.560	−0.003%	$23K	$337K	10x	as long as short
Derive HYPE-PERP	+0.0001%	1h	93.516	−0.051%	$16.4M	$7.1M	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.597	+0.036%	$20K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0020%	4h	93.568	+0.005%	$9.0M	$35.8M	300x	as long as short
Gate HYPE_USDT	+0.0032%	4h	93.559	−0.005%	$44.1M	$56.6M	75x	as long as short
Bybit HYPEUSDT	+0.0037%	8h	93.547	−0.017%	$325.9M	$287.0M	75x	as long as short
Phoenix HYPE	+0.0068%	1h	93.549	−0.015%	$216K	$1.2M	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0069%	4h	93.564	+0.001%	$176K	$538K	20x	as long as short
Popdex HYPEUSDT	+0.0080%	1h	93.549	−0.015%	$57K	$1.2M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.608	+0.048%	$18.6M	$59.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.587	+0.025%	$3.1M	$12.3M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0100%	8h	93.571	+0.009%	$340K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.570	+0.007%	$40K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.549	−0.016%	$6.0M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.651	+0.094%	$2.04B	$668.6M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.571	+0.008%	$10.0M	$14.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.552	−0.012%	$386.0M	$888.1M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.547	−0.017%	$114.9M	$315.3M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.534	−0.031%	$1.2M	$4.0M	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.549	−0.015%	$93.5M	$82.2M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.580	+0.018%	$46.4M	$18.8M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.577	+0.015%	$227.3M	$102.2M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.551	−0.013%	—	$54.2M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.587	+0.025%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.402	−0.173%	$28.9M	$49.8M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.500	−0.067%	$7.5M	$45.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.572	+0.009%	$406K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.599	+0.038%	$677K	$2.4M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.597	+0.036%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.593	+0.032%	$494K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.573	+0.010%	$76K	$167K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.594	+0.033%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.549	−0.015%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.554	−0.010%	$12.7M	$2.6M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.556	−0.007%	$204K	$12K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.538	−0.027%	$18.4M	$41.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.582	+0.020%	$398K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0115%	4h	93.532	−0.034%	$5.1M	$29.6M	30x	as long as short
Kalshi KXHYPEPERP	+0.0125%	8h	93.638	+0.080%	$1.9M	$5.3M	2.3x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0135%	1h	93.651	+0.094%	$7.4M	$4.6M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.600	+0.039%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0245%	1h	93.549	−0.016%	$78K	$158K	15x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.490	−0.078%	$30K	$231K	12x	as long as short
HTX HYPE-USDT	+0.0335%	4h	93.730	+0.178%	$1.5M	$7.6M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0164%	1h	93.600	+0.039%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.545	−0.020%	$17.1M	$12.5M	75x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.623	+0.064%	$2.7M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0572%	1h	93.661	+0.105%	$19.2M	$26.0M	50x	as long as short