HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0208%/8h= +22.8% APRnext payment +$0.26 per $10,000 · paid last 24h +0.029%

Price spread now: Pacifica against dYdX+0.055%7-day average +0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$650.651% of the position

Long on dYdX Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.045%+$4 on $10k

Price spread, last 4 days (all we have)−0.030%−$3 · spread now +0.055%, 7d avg +0.015%

Together, before fees+0.015%+ Points / potential airdropPacifica: Active · farm board+$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Pacifica is 0.040% dearer against dYdX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.015%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.045% in total (about 2.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.26 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	93.519	−0.0108	get 0.0014% / 1h	18m 15s	$128K	$31K	5x
Short	Pacifica HYPE	93.571	0.0100	get 0.0013% / 1h	18m 15s	$10.1M	$14.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.055%Rate

Funding earned: $43.75
Price spread: +0.055% → +0.015%: $4.01
Slippage, 4 orders: −$47.08
Fee dYdX: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$17.33
Costs to cover: 0.651%
Break-even: 9.8 days

Slippage from dYdX: live order book, 56 min ago; Pacifica: live order book, 1 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, 56 min ago	9.10 bp	42.4 bp −$42	57.1 bp −$571	137.7 bp −$13.8K	734.4 bp −$367.2K
Sell Pacifica live order book, 1 min ago	0.11 bp	4.5 bp −$4	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
Hibachi HYPE/USDT-P	−0.1312%	1h	93.756	+0.253%	$198K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0625%	1h	93.417	−0.109%	$1.2M	$3.8M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0185%	1h	93.952	+0.463%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0151%	1h	93.510	−0.010%	$710K	$955K	10x	as long as short
dYdX HYPE-USDlong	−0.0108%	1h	93.519	long leg	$128K	$31K	5x
Bullet HYPE-USD	−0.0097%	1h	93.605	+0.092%	$113K	$581K	20x	as long as short
01 Exchange HYPEUSD	−0.0096%	1h	93.536	+0.018%	$85K	$360K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.531	+0.013%	$3K	$331	25x	as long as short
Gate HYPE_USDT	−0.0080%	4h	93.642	+0.131%	$44.4M	$60.1M	75x	as long as short
Orderly PERP_HYPE_USDC	−0.0027%	4h	93.603	+0.090%	$159K	$645K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit HYPEUSDT	−0.0021%	8h	93.650	+0.140%	$321.6M	$280.3M	75x	as long as short
Perpl HYPE	0.0000%	43m	93.591	+0.077%	$23K	$326K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.626	+0.114%	$27K	—	150x	as long as short
Aster HYPEUSDT	+0.0003%	4h	93.587	+0.072%	$8.9M	$36.1M	300x	as long as short
Derive HYPE-PERP	+0.0003%	1h	93.596	+0.082%	$16.4M	$7.3M	10x	as long as short
Phoenix HYPE	+0.0034%	1h	94.149	+0.674%	$219K	$1.2M	10x	as long as short
Binance HYPEUSDT	+0.0042%	4h	93.645	+0.135%	$382.0M	$894.3M	75x	as long as short
MEXC HYPE_USDT	+0.0044%	4h	93.674	+0.166%	$88.1M	$83.2M	100x	as long as short
edgeX HYPEUSDC	+0.0057%	4h	93.961	+0.473%	$5.1M	$30.0M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0074%	8h	93.656	+0.146%	$115.6M	$316.7M	50x	as long as short
Bluefin HYPE-PERP	+0.0083%	1h	93.651	+0.141%	$76K	$170K	20x	as long as short
Phemex HYPEUSDT	+0.0094%	8h	93.679	+0.171%	$12.8M	$2.6M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.674	+0.166%	$19.1M	$60.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.657	+0.147%	$3.0M	$12.2M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.540	+0.022%	$66K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.596	+0.082%	$398K	$180K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.554	+0.037%	$340K	$165K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.550	+0.033%	$17K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.515	−0.004%	$6.6M	$44.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.714	+0.208%	$2.04B	$675.4M	10x	as long as short
Pacifica HYPEshort	+0.0100%	1h	93.571	+0.055%	$10.1M	$14.6M	20x
Bulk HYPE-USD	+0.0100%	1h	93.528	+0.010%	$204K	$12K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.670	+0.161%	$46.6M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.683	+0.175%	$227.1M	$101.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.670	+0.161%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.688	+0.181%	$7.7M	$10.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.939	+0.450%	$31.4M	$54.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.991	+0.505%	$7.6M	$46.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.940	+0.450%	$340K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.838	+0.341%	$679K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.603	+0.090%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.596	+0.082%	$473K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.673	+0.165%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.653	+0.143%	$2.0M	$2.0M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.623	+0.111%	$18.7M	$44.5M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.590	+0.076%	$4.9M	$5.5M	50x	as long as short
BloFin HYPE-USDT	+0.0179%	4h	93.552	+0.035%	$17.0M	$12.1M	75x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.490	+1.038%	$31K	$338K	12x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	93.571	+0.055%	$2.7M	$6.8M	20x	as long as short
Kalshi KXHYPEPERP	+0.0227%	8h	93.642	+0.131%	$1.9M	$5.1M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0252%	1h	93.568	+0.052%	$79K	$142K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0334% / S −0.0156%	1h	93.615	+0.103%	$1.4M	—	100x	as long as short
HTX HYPE-USDT	+0.0373%	4h	93.850	+0.354%	$1.5M	$6.1M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0615%	1h	93.757	+0.254%	$7.5M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0673%	1h	93.761	+0.258%	$20.9M	$29.8M	50x	as long as short