HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.1726%/8h= −189.0% APRnext payment −$2.16 per $10,000 · paid last 24h −0.335%

Price spread now: Hibachi against GMX−0.220%7-day average −0.093% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on GMX Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−1.322%−$132 on $10k

Price spread, last 4 days (all we have)+0.039%+$4 · spread now −0.220%, 7d avg −0.093%

Together, before fees−1.283%+ Points / potential airdropHibachi: Active · farm board−$128 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$52 a day on $10k at the current rate, and Hibachi is 0.126% cheaper against GMX than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.093%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX HYPE/USD [WBTC.b-USDC]	94.306	L +0.0150% / S +0.0021%	pay 0.0019% / 1h	38m 07s	$1.4M	—	100x
Short	Hibachi HYPE/USDT-P	94.099	−0.1576	pay 0.0197% / 1h	38m 07s	$201K	$253K	7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi against GMX. 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 GMXbpFee HibachibpOrdersPrice spread, now −0.220%Rate

Funding earned: −$362.54
Price spread: −0.220% → −0.093%: −$12.64
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: −$396.18
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Hibachi: live order book, 1 min ago. Net counts fees only.

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 GMX no order-book sample	—	—	—	—	—
Sell Hibachi live order book, 1 min ago	17.49 bp	23.9 bp −$24	43.4 bp −$434	doesn't fit	doesn'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.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hibachi HYPE/USDT-Pshort	−0.1576%	1h	94.099	−0.220%	$201K	$253K	7x
Bluefin HYPE-PERP	−0.0380%	1h	94.231	−0.079%	$80K	$154K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0210%	1h	94.210	−0.102%	$712K	$1.2M	10x	as long as short
Bullet HYPE-USD	−0.0191%	1h	94.264	−0.044%	$112K	$576K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0143%	1h	94.418	+0.119%	$22K	$20K	10x	as long as short
01 Exchange HYPEUSD	−0.0112%	1h	94.310	+0.004%	$86K	$367K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.328	+0.024%	$3K	$331	25x	as long as short
Arcus HYPE-USD	−0.0045%	1h	94.300	−0.006%	$1.0M	$3.6M	10x	as long as short
Derive HYPE-PERP	−0.0030%	1h	94.212	−0.100%	$16.5M	$7.5M	10x	as long as short
Bybit HYPEUSDT	−0.0015%	8h	94.194	−0.119%	$316.8M	$289.1M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_HYPE_USDC	−0.0001%	4h	94.231	−0.079%	$146K	$685K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.308	+0.002%	$129K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.378	+0.077%	$1.9M	$5.6M	2.3x	as long as short
Phoenix HYPE	0.0000%	1h	94.440	+0.142%	$209K	$1.1M	10x	as long as short
Perpl HYPE	0.0000%	43m	94.271	−0.037%	$19K	$288K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.285	−0.022%	$123K	—	150x	as long as short
Bitget HYPEUSDT	+0.0038%	4h	94.185	−0.128%	$226.4M	$99.7M	75x	as long as short
Lighter HYPE	+0.0040%	1h	94.227	−0.084%	$16.3M	$64.1M	20x	as long as short
Phemex HYPEUSDT	+0.0042%	8h	94.269	−0.039%	$12.9M	$2.9M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0052%	8h	94.355	+0.052%	$337K	$156K	20x	as long as short
Polymarket Perps HYPE-USD	+0.0057%	1h	94.311	+0.006%	$495K	$2.8M	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0064%	1h	94.360	+0.058%	$4.7M	$6.2M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0080%	8h	94.201	−0.111%	$117.5M	$324.1M	50x	as long as short
edgeX HYPEUSDC	+0.0093%	4h	94.370	+0.068%	$5.0M	$30.6M	30x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.231	−0.079%	$3.2M	$10.8M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.286	−0.021%	$81K	$1.2M	50x	as long as short
SoDEX HYPE-USD	+0.0097%	1h	94.245	−0.064%	$2.1M	$1.9M	10x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.320	+0.015%	$30K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.245	−0.064%	$7.0M	$52.2M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.329	+0.025%	$2.07B	$688.0M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.242	−0.068%	$8.8M	$37.3M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.357	+0.054%	$10.2M	$15.3M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.226	−0.084%	$377.6M	$933.9M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.280	−0.027%	$218K	$12K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.200	−0.112%	$49.7M	$56.4M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.213	−0.098%	$90.6M	$82.7M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.232	−0.078%	$46.7M	$18.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.207	−0.105%	—	$53.1M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.191	−0.122%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.327	+0.022%	$29.5M	$54.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.408	+0.108%	$7.6M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.340	+0.036%	$369K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.325	+0.020%	$682K	$2.7M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.263	−0.045%	$32K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.400	+0.100%	$1.4M	$6.8M	75x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.360	+0.057%	—	$190K	5x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.219	−0.093%	$18.3M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.252	−0.057%	$398K	$159K	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]long	L +0.0150% / S +0.0021%	1h	94.306	long leg	$1.4M	—	100x
Injective HYPE/USDC PERP	+0.0185%	1h	94.280	−0.027%	$30K	$339K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0206%	1h	94.349	+0.046%	$7.4M	$4.3M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0223%	1h	94.280	−0.028%	$20.2M	$30.2M	50x	as long as short
RISEx HYPE/USDC	+0.0249%	1h	94.332	+0.028%	$3.2M	$6.4M	20x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.236	−0.074%	$84K	$124K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.373	+0.071%	$17.1M	$12.4M	75x	as long as short