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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−0.0231%/8h= −25.3% APRpaid last 24h −0.063%
Price spread now: GRVT against GMX+0.199%7-day average +0.015% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on GMXShort on GRVT
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.189%−$19 on $10k
Price spread, last 4 days (all we have)−0.245%−$25 · spread now +0.199%, 7d avg +0.015%
Together, before fees−0.434%+ Points / potential airdropGRVT: Active · farm board−$43 on $10k · with fees, hour by hour
The price spread pays, funding is against you. GRVT is 0.184% dearer against GMX than usual: you sell high and buy low (spread +0.199% now, against its 7-day average of +0.015%): +$18 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 2.6 days.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongGMX HYPE/USD [WBTC.b-USDC]93.367L +0.0331% / S −0.0156%pay 0.0041% / 1h41m 09s$1.4M—100x
ShortGRVT HYPE_USDT_Perp93.5530.0100get 0.0050% / 4h1h 41m$7.6M$45.6M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

GRVT 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
−$48.6
Price spread: +0.199% → +0.015%
$18.39
Slippage, 4 orders
no order book: not counted
Fee GMX: 6 bp × 2 orders
−$12
Fee GRVT: 4.5 bp × 2 orders
−$9
Net
−$51.21
Costs to cover
0.210%
Break-even
never at this rate
Slippage unknown: GMX: no order-book sample; GRVT: live order book, 3 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 GRVT live order book, 3 min ago0.05 bp5.2 bp −$56.2 bp −$62doesn't fitdoesn't fit
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−0.1264%1h93.481+0.122%$196K$226K7xas long as short
Arcus HYPE-USD−0.0899%1h93.238−0.138%$1.2M$3.8M10xas long as short
Bluefin HYPE-PERP−0.0190%1h93.301−0.070%$79K$170K20xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.410+0.046%$3K$33125xas long as short
Phemex HYPEUSDT−0.0067%8h93.304−0.067%$12.6M$2.7M50xas long as short
Orderly PERP_HYPE_USDC−0.0046%4h93.317−0.053%$156K$629K20xas long as short
01 Exchange HYPEUSD−0.0040%1h93.337−0.032%$85K$345K20xas long as short
Aftermath Perps HYPEUSD−0.0035%1h93.438+0.077%$22K$21K10xas long as short
Ondo Perps HYPE-USD.P−0.0030%1h93.280−0.093%$700K$980K10xas long as short
dYdX HYPE-USD0.0000%1h93.361−0.006%$128K$31K5xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Perpl HYPE0.0000%43m93.346−0.022%$23K$322K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0002%1h93.366−0.001%$62K—150xas long as short
Aster HYPEUSDT+0.0024%4h93.375+0.009%$8.8M$35.6M300xas long as short
Phoenix HYPE+0.0026%1h93.549+0.195%$213K$1.2M10xas long as short
BingX HYPE-USDT+0.0026%4h93.349−0.019%—$53.0M—as long as short
Bullet HYPE-USD+0.0028%1h93.344−0.024%$111K$578K20xas long as short
Bybit HYPEUSDT+0.0034%8h93.321−0.049%$321.8M$277.0M75xas long as short
Gate HYPE_USDT+0.0050%4h93.345−0.023%$44.5M$54.7M75xas long as short
OKX HYPE-USDT-SWAP+0.0078%8h93.328−0.041%$114.1M$302.0M50xas long as short
Lighter HYPE+0.0096%1h93.336−0.033%$16.3M$61.6M20xas long as short
Lighter RH HYPE+0.0096%1h93.349−0.019%$3.1M$11.5M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.325−0.045%$69K$1.2M50xas long as short
Paradex HYPE-USD-PERP+0.0097%8h93.372+0.006%$339K$162K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.370+0.004%$17K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.320−0.051%$5.8M$43.4M10xas long as short
Hyperliquid HYPE+0.0100%1h93.433+0.071%$2.04B$655.4M10xas long as short
Pacifica HYPE+0.0100%1h93.375+0.009%$10.0M$14.6M20xas long as short
Binance HYPEUSDT+0.0100%4h93.328−0.041%$378.8M$877.1M75xas long as short
Bulk HYPE-USD+0.0100%1h93.580+0.228%$204K$10K10xas long as short
MEXC HYPE_USDT+0.0100%4h93.330−0.039%$89.7M$80.6M100xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.344−0.024%$45.9M$18.1M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.347−0.021%$225.8M$96.8M75xas long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.471+0.112%$7.4M$10.4M20xas long as short
Variational Omni HYPE+0.0100%8h93.339−0.030%$31.1M$54.0M—as long as short
GRVT HYPE_USDT_Perpshort+0.0100%4h93.553+0.199%$7.6M$45.6M10x
ApeX Omni HYPEUSDT+0.0100%1h93.487+0.129%$340K$999K50xas long as short
StandX HYPE-USD+0.0100%1h93.585+0.234%$668K$2.6M20xas long as short
Vest HYPE-PERP+0.0100%1h93.433+0.071%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.365−0.002%$472K$2.5M20xas long as short
Derive HYPE-PERP+0.0100%1h93.329−0.040%$16.2M$7.6M10xas long as short
SunX HYPE-USDT+0.0100%4h93.418+0.055%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.303−0.068%$2.0M$1.9M10xas long as short
Extended HYPE-USD+0.0104%1h93.280−0.093%$18.4M$43.7M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.330−0.040%$397K$163K20xas long as short
edgeX HYPEUSDC+0.0116%4h93.476+0.118%$5.1M$29.6M30xas long as short
Coinbase International HYPE-PERP-INTX+0.0176%1h93.370+0.004%$4.9M$5.4M50xas long as short
HTX HYPE-USDT+0.0200%4h93.500+0.143%$1.4M$6.0M75xas long as short
Reya HYPERUSDPERP+0.0257%1h93.319−0.051%$79K$140K15xas long as short
Kalshi KXHYPEPERP+0.0279%8h93.417+0.054%$1.9M$5.1M2.3xas long as short
GMX HYPE/USD [WBTC.b-USDC]longL +0.0331% / S −0.0156%1h93.367long leg$1.4M—100x
BloFin HYPE-USDT+0.0340%4h93.300−0.071%$16.9M$11.6M75xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0350%1h93.403+0.039%$7.4M$4.4M50xas long as short
RISEx HYPE/USDC+0.0510%1h93.422+0.060%$3.2M$6.5M20xas long as short
Injective HYPE/USDC PERP+0.0519%1h93.200−0.179%$30K$339K12xas long as short
Kraken Futures PF_HYPEUSD+0.0685%1h93.379+0.013%$20.7M$30.1M50xas long as short