HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0907%/8h= −99.3% APRnext payment −$1.13 per $10,000 · paid last 24h −0.253%

Price spread now: Hibachi against dYdX−0.117%45s7-day average −0.069% · you buy dearer than you sell

Net, funding: paid 7d − costs−$273as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1131.130% of the position

Long on dYdX Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 7 days−1.596%−$160 on $10k

Price spread, last 4 days (all we have)+0.639%+$64 · spread now −0.117%, 7d avg −0.069%

Together, before fees−0.957%+ Points / potential airdropHibachi: Active · farm board−$96 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$27 a day on $10k at the current rate, and Hibachi is 0.047% cheaper against dYdX than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.069%). Swap the legs. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX HYPE-USD	95.179	−0.0101	get 0.0013% / 1h	2m 40s	$131K	$93K	5x
Short	Hibachi HYPE/USDT-P	95.068	−0.1008	pay 0.0126% / 1h	2m 40s	$212K	$265K	7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi 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 HibachibpOrdersPrice spread, now −0.117%Rate

Funding earned: −$190.46
Price spread: −0.117% → −0.069%: −$4.73
Slippage, 4 orders: −$94.01
Fee dYdX: 5 bp × 2 orders: −$10
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: −$308.2
Costs to cover: 1.130%
Break-even: never at this rate

Slippage from dYdX: live order book, 31 min ago; Hibachi: live order book, 31 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, 31 min ago	24.32 bp	31.6 bp −$32	43.4 bp −$434	116.8 bp −$11.7K	736.1 bp −$368.0K
Sell Hibachi live order book, 31 min ago	11.01 bp	36.5 bp −$37	60.9 bp −$609	doesn't fit	doesn't fit

HYPE on 54 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-Pshort	−0.1008%	1h	95.068	−0.117%	$212K	$265K	7x
Bluefin HYPE-PERP	−0.0544%	1h	95.128	−0.054%	$79K	$149K	20x	as long as short
Phemex HYPEUSDT	−0.0236%	8h	95.135	−0.047%	$13.0M	$2.8M	50x	as long as short
Aftermath Perps HYPEUSD	−0.0231%	1h	95.224	+0.047%	$22K	$19K	10x	as long as short
Bullet HYPE-USD	−0.0206%	1h	95.165	−0.015%	$113K	$580K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0149%	1h	95.010	−0.178%	$696K	$1.3M	10x	as long as short
01 Exchange HYPEUSD	−0.0120%	1h	95.057	−0.129%	$91K	$357K	20x	as long as short
Arcus HYPE-USD	−0.0112%	1h	95.060	−0.126%	$1.0M	$3.1M	10x	as long as short
dYdX HYPE-USDlong	−0.0101%	1h	95.179	long leg	$131K	$93K	5x
Hotstuff HYPE-PERP	−0.0080%	1h	95.131	−0.051%	$3K	$331	25x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate HYPE_USDT	−0.0070%	4h	95.090	−0.094%	$53.1M	$57.1M	75x	as long as short
Kraken Futures PF_HYPEUSD	−0.0047%	1h	95.169	−0.011%	$18.9M	$35.6M	50x	as long as short
Vest HYPE-PERP	−0.0021%	1h	95.225	+0.047%	—	$97K	5x	as long as short
Bybit HYPEUSDT	−0.0011%	8h	95.050	−0.136%	$319.4M	$283.3M	75x	as long as short
Orderly PERP_HYPE_USDC	−0.0005%	4h	95.150	−0.031%	$148K	$670K	20x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	95.245	+0.069%	$1.9M	$5.3M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	95.184	+0.005%	$19K	$272K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	95.190	+0.011%	$87K	—	150x	as long as short
BingX HYPE-USDT	+0.0004%	4h	95.093	−0.091%	—	$50.4M	—	as long as short
Phoenix HYPE	+0.0008%	1h	95.295	+0.121%	$204K	$1.2M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0016%	1h	95.110	−0.073%	$4.7M	$5.7M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0030%	8h	95.031	−0.156%	$118.7M	$321.3M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0045%	8h	95.133	−0.049%	$340K	$38K	20x	as long as short
Bitget HYPEUSDT	+0.0048%	4h	95.110	−0.073%	$228.5M	$93.4M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0056%	1h	95.121	−0.061%	$7.5M	$10.2M	20x	as long as short
Aster HYPEUSDT	+0.0080%	4h	95.056	−0.130%	$9.0M	$36.4M	300x	as long as short
SoDEX HYPE-USD	+0.0083%	1h	95.150	−0.031%	$2.1M	$1.6M	10x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0086%	1h	95.248	+0.072%	$7.5M	$4.4M	50x	as long as short
edgeX HYPEUSDC	+0.0096%	4h	95.176	−0.004%	$5.1M	$31.1M	30x	as long as short
Lighter HYPE	+0.0096%	1h	95.096	−0.088%	$16.2M	$64.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	95.102	−0.081%	$3.2M	$10.4M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	95.052	−0.134%	$266K	$1.3M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	95.080	−0.105%	$40K	$1.5M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	95.186	+0.007%	$7.3M	$55.5M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	95.240	+0.064%	$2.10B	$673.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	95.138	−0.044%	$10.3M	$14.1M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	95.042	−0.144%	$382.5M	$910.0M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	95.176	−0.004%	$222K	$14K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	95.093	−0.091%	$87.1M	$89.9M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	95.101	−0.082%	$47.5M	$18.3M	75x	as long as short
Variational Omni HYPE	+0.0100%	8h	95.229	+0.052%	$29.9M	$55.8M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	95.148	−0.033%	$7.7M	$43.4M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	95.146	−0.035%	$349K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	95.194	+0.015%	$692K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	95.190	+0.011%	$500K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	95.035	−0.152%	$32K	$1.5M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.297	+0.123%	$1.4M	$6.7M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	95.076	−0.109%	$18.2M	$42.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	95.150	−0.031%	$402K	$136K	20x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	95.210	+0.033%	$3.2M	$6.2M	20x	as long as short
Injective HYPE/USDC PERP	+0.0153%	1h	95.120	−0.062%	$31K	$340K	12x	as long as short
Reya HYPERUSDPERP	+0.0271%	1h	95.142	−0.039%	$85K	$92K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0155%	1h	95.233	+0.056%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	95.141	−0.040%	$17.2M	$12.3M	75x	as long as short