Settings8H · net · $10k
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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
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Alert: spread
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Funding you earn now, next payment 06:00 UTC+0.0035%/8h= +3.8% APRpaid last 24h +0.022%
Price spread now: Phemex against dYdX+0.055%7-day average +0.003% · you sell dearer than you buy
Net, funding: paid 7d − costs−$104as in the Funding arb table
Net, price: spread back to 7d avg − costs−$112as in the Price arb table
costs, in and out, $10k−$1171.172% of the position
Long on dYdXShort on Phemex
What this pair did over the last
the charts below follow
Funding, last 7 days+0.135%+$14 on $10k
Price spread, last 4 days (all we have)−0.066%−$7 · spread now +0.055%, 7d avg +0.003%
Together, before fees+0.070%+$7 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Phemex is 0.051% dearer against dYdX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.003%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongdYdX HYPE-USD93.2970get 0.0000% / 1h36m 52s$128K$29K5x
ShortPhemex HYPEUSDT93.3480.0035get 0.0035% / 8h2h 36m$12.6M$2.7M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phemex against dYdX. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$7.38
Price spread: +0.055% → +0.003%
$5.14
Slippage, 4 orders
−$95.21
Fee dYdX: 5 bp × 2 orders
−$10
Fee Phemex: 6 bp × 2 orders
−$12
Net
−$104.7
Costs to cover
1.172%
Break-even
106.4 days
Slippage from dYdX: live order book, 12 min ago; Phemex: live order book, 2 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy dYdX live order book, 12 min ago36.06 bp41.1 bp −$4148.2 bp −$482123.1 bp −$12.3K1048.6 bp −$524.3K
Sell Phemex live order book, 2 min ago4.78 bp19.7 bp −$2039.6 bp −$396doesn't fitdoesn't fit

HYPE on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-P−0.1688%1h93.098−0.213%$196K$234K7xas long as short
Aftermath Perps HYPEUSD−0.0370%1h93.313+0.017%$22K$21K10xas long as short
Bullet HYPE-USD−0.0084%1h93.327+0.032%$111K$578K20xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.256−0.044%$3K$33125xas long as short
01 Exchange HYPEUSD−0.0024%1h93.347+0.054%$87K$366K20xas long as short
Orderly PERP_HYPE_USDC−0.0022%4h93.329+0.034%$146K$663K20xas long as short
dYdX HYPE-USDlong0.0000%1h93.297long leg$128K$29K5x
Perpl HYPE0.0000%43m93.328+0.034%$22K$290K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0002%1h93.370+0.078%$62K—150xas long as short
Arcus HYPE-USD+0.0011%1h93.308+0.012%$1.0M$4.0M10xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Ondo Perps HYPE-USD.P+0.0013%1h93.170−0.136%$701K$1.2M10xas long as short
Bitget HYPEUSDT+0.0014%4h93.353+0.060%$225.6M$99.0M75xas long as short
Bybit HYPEUSDT+0.0021%8h93.342+0.048%$317.2M$283.7M75xas long as short
Phoenix HYPE+0.0026%1h93.305+0.009%$209K$1.2M10xas long as short
Phemex HYPEUSDTshort+0.0035%8h93.348+0.055%$12.6M$2.7M50x
edgeX HYPEUSDC+0.0093%4h93.126−0.183%$4.9M$30.0M30xas long as short
Paradex HYPE-USD-PERP+0.0095%8h93.386+0.095%$340K$162K20xas long as short
Lighter HYPE+0.0096%1h93.354+0.061%$16.1M$63.1M20xas long as short
Lighter RH HYPE+0.0096%1h93.350+0.057%$3.1M$11.4M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.337+0.043%$76K$1.2M50xas long as short
Katana Perps HYPE-USD+0.0099%8h93.210−0.093%$28K$1.7M10xas long as short
Nado HYPE-PERP+0.0100%1h93.332+0.038%$8.0M$48.5M10xas long as short
Hyperliquid HYPE+0.0100%1h93.393+0.103%$2.03B$668.0M10xas long as short
Aster HYPEUSDT+0.0100%4h93.347+0.054%$8.7M$36.5M300xas long as short
Pacifica HYPE+0.0100%1h93.347+0.054%$10.1M$15.4M20xas long as short
Binance HYPEUSDT+0.0100%4h93.367+0.075%$374.1M$914.0M75xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.355+0.062%$114.5M$309.5M50xas long as short
Gate HYPE_USDT+0.0100%4h93.342+0.048%$46.6M$54.2M75xas long as short
MEXC HYPE_USDT+0.0100%4h93.357+0.064%$89.9M$80.8M100xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.341+0.047%$46.1M$18.9M75xas long as short
BingX HYPE-USDT+0.0100%4h93.349+0.056%—$53.9M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.380+0.089%$7.3M$10.6M20xas long as short
Variational Omni HYPE+0.0100%8h93.140−0.169%$28.5M$56.6M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.194−0.110%$7.5M$47.0M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.132−0.177%$342K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.228−0.074%$667K$2.9M20xas long as short
Vest HYPE-PERP+0.0100%1h93.354+0.062%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.345+0.051%$484K$2.7M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.347+0.054%$79K$166K20xas long as short
Derive HYPE-PERP+0.0100%1h93.320+0.025%$16.1M$7.5M10xas long as short
SunX HYPE-USDT+0.0100%4h93.324+0.029%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.364+0.072%$2.0M$1.9M10xas long as short
HTX HYPE-USDT+0.0100%4h93.491+0.208%$1.4M$6.4M75xas long as short
Bulk HYPE-USD+0.0100%1h93.344+0.051%$215K$15K10xas long as short
Kalshi KXHYPEPERP+0.0103%8h93.376+0.085%$1.8M$5.7M2.3xas long as short
Extended HYPE-USD+0.0104%1h93.312+0.017%$18.1M$43.2M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.367+0.075%$395K$161K20xas long as short
Injective HYPE/USDC PERP+0.0122%1h93.290−0.008%$30K$339K12xas long as short
Coinbase International HYPE-PERP-INTX+0.0144%1h93.430+0.143%$4.8M$5.6M50xas long as short
Reya HYPERUSDPERP+0.0268%1h93.327+0.032%$80K$131K15xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0332% / S −0.0154%1h93.362+0.070%$1.4M—100xas long as short
BloFin HYPE-USDT+0.0340%4h93.342+0.048%$16.9M$11.9M75xas long as short
Kraken Futures PF_HYPEUSD+0.0341%1h93.422+0.134%$20.8M$29.6M50xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0457%1h93.446+0.160%$7.5M$4.0M50xas long as short
RISEx HYPE/USDC+0.0527%1h93.406+0.117%$3.2M$6.2M20xas long as short