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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 03:00 UTC−0.0232%/8h= −25.4% APRnext payment −$0.29 per $10,000 · paid last 24h −0.063%
Price spread now: Bulk against GMX+0.089%7-day average +0.028% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on GMXShort on Bulk
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.187%−$19 on $10k
Price spread, last 4 days (all we have)−0.117%−$12 · spread now +0.089%, 7d avg +0.028%
Together, before fees−0.303%−$30 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Bulk is 0.060% dearer against GMX than usual: you sell high and buy low (spread +0.089% now, against its 7-day average of +0.028%): +$6 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 21 hours.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongGMX HYPE/USD [WBTC.b-USDC]93.497L +0.0332% / S −0.0156%pay 0.0041% / 1h43m 54s$1.4M—100x
ShortBulk HYPE-USD93.5800.0100get 0.0013% / 1h43m 54s$204K$10K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bulk against GMX. 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
−$48.64
Price spread: +0.089% → +0.028%
$6.04
Slippage, 4 orders
no order book: not counted
Fee GMX: 6 bp × 2 orders
−$12
Fee Bulk: 3.5 bp × 2 orders
−$7
Net
−$61.6
Costs to cover
0.190%
Break-even
never at this rate
Slippage unknown: GMX: no order-book sample; Bulk: live order book, 20 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy GMX no order-book sample—————
Sell Bulk live order book, 20 min ago0.54 bp4.0 bp −$47.0 bp −$7014.5 bp −$1,44727.4 bp −$13.7K
GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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−0.1232%1h93.464−0.035%$196K$226K7xas long as short
Arcus HYPE-USD−0.0899%1h93.382−0.123%$1.2M$3.8M10xas long as short
Bluefin HYPE-PERP−0.0176%1h93.441−0.060%$79K$170K20xas long as short
Phemex HYPEUSDT−0.0091%8h93.453−0.047%$12.6M$2.7M50xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.486−0.012%$3K$33125xas long as short
Orderly PERP_HYPE_USDC−0.0046%4h93.479−0.019%$156K$629K20xas long as short
Aftermath Perps HYPEUSD−0.0036%1h93.380−0.125%$22K$21K10xas long as short
01 Exchange HYPEUSD−0.0032%1h93.485−0.013%$85K$346K20xas long as short
Ondo Perps HYPE-USD.P−0.0004%1h93.420−0.082%$698K$978K10xas long as short
dYdX HYPE-USD0.0000%1h93.524+0.029%$128K$31K5xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Perpl HYPE0.0000%43m93.526+0.031%$23K$322K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0002%1h93.480−0.018%$62K—150xas long as short
BingX HYPE-USDT+0.0008%4h93.4970.000%—$53.1M—as long as short
Aster HYPEUSDT+0.0018%4h93.505+0.009%$8.8M$35.6M300xas long as short
Phoenix HYPE+0.0026%1h93.418−0.084%$213K$1.2M10xas long as short
Bybit HYPEUSDT+0.0033%8h93.483−0.015%$322.8M$276.7M75xas long as short
Gate HYPE_USDT+0.0054%4h93.446−0.054%$44.6M$54.6M75xas long as short
Bullet HYPE-USD+0.0065%1h93.471−0.028%$111K$577K20xas long as short
OKX HYPE-USDT-SWAP+0.0078%8h93.470−0.029%$114.3M$302.4M50xas long as short
MEXC HYPE_USDT+0.0090%4h93.485−0.013%$87.7M$80.2M100xas long as short
edgeX HYPEUSDC+0.0092%4h93.250−0.264%$5.0M$30.0M30xas long as short
Lighter HYPE+0.0096%1h93.465−0.035%$16.3M$61.5M20xas long as short
Lighter RH HYPE+0.0096%1h93.467−0.032%$3.1M$11.5M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.478−0.020%$68K$1.2M50xas long as short
Binance HYPEUSDT+0.0096%4h93.478−0.020%$379.6M$877.1M75xas long as short
Paradex HYPE-USD-PERP+0.0097%8h93.551+0.058%$340K$162K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.460−0.039%$19K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.465−0.034%$5.8M$43.4M10xas long as short
Hyperliquid HYPE+0.0100%1h93.531+0.036%$2.04B$655.2M10xas long as short
Pacifica HYPE+0.0100%1h93.523+0.028%$10.1M$14.6M20xas long as short
Bulk HYPE-USDshort+0.0100%1h93.580+0.089%$204K$10K10x
KuCoin HYPEUSDTM+0.0100%4h93.442−0.059%$45.9M$18.1M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.478−0.020%$226.1M$96.8M75xas long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.419−0.083%$7.4M$10.4M20xas long as short
Variational Omni HYPE+0.0100%8h93.339−0.169%$31.1M$54.0M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.288−0.224%$7.5M$45.6M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.280−0.232%$339K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.354−0.153%$666K$2.6M20xas long as short
Vest HYPE-PERP+0.0100%1h93.553+0.061%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.513+0.017%$472K$2.5M20xas long as short
Derive HYPE-PERP+0.0100%1h93.458−0.041%$16.2M$7.6M10xas long as short
SunX HYPE-USDT+0.0100%4h93.563+0.071%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.465−0.034%$2.0M$1.9M10xas long as short
Extended HYPE-USD+0.0104%1h93.410−0.093%$18.4M$43.7M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.475−0.024%$398K$163K20xas long as short
Coinbase International HYPE-PERP-INTX+0.0176%1h93.600+0.110%$4.9M$5.4M50xas long as short
HTX HYPE-USDT+0.0203%4h93.600+0.110%$1.4M$6.0M75xas long as short
Reya HYPERUSDPERP+0.0257%1h93.458−0.041%$79K$140K15xas long as short
Kalshi KXHYPEPERP+0.0280%8h93.554+0.061%$1.9M$5.1M2.3xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0306%1h93.542+0.048%$7.5M$4.4M50xas long as short
BloFin HYPE-USDT+0.0330%4h93.572+0.080%$17.0M$11.7M75xas long as short
GMX HYPE/USD [WBTC.b-USDC]longL +0.0332% / S −0.0156%1h93.497long leg$1.4M—100x
RISEx HYPE/USDC+0.0510%1h93.564+0.071%$3.2M$6.5M20xas long as short
Injective HYPE/USDC PERP+0.0519%1h93.430−0.072%$30K$339K12xas long as short
Kraken Futures PF_HYPEUSD+0.0684%1h93.500+0.003%$20.8M$30.1M50xas long as short