HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0240%/8h= −26.3% APRnext payment −$0.30 per $10,000 · paid last 24h −0.011%

Price spread now: Hyperliquid against GMX+0.014%7-day average +0.032% · you sell dearer than you buy

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

Long on GMX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.121%−$12 on $10k

Price spread, last 3 days (all we have)−0.040%−$4 · spread now +0.014%, 7d avg +0.032%

Together, before fees−0.161%+ Points / potential airdropHyperliquid: Season 2 · farm board−$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.032%, so right now this pair is about funding alone: −$7 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX HYPE/USD [WBTC.b-USDC]	93.753	L +0.0340% / S −0.0165%	pay 0.0042% / 1h	0m 17s	$1.4M	—	100x
Short	Hyperliquid HYPE	93.766	0.0100	get 0.0013% / 1h	0m 17s	$2.04B	$665.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.014%Rate

Funding earned: −$50.39
Price spread: +0.014% → +0.032%: −$1.82
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$73.21
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Hyperliquid: live order book, 4 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 Hyperliquid live order book, 4 min ago	0.05 bp	4.6 bp −$5	5.2 bp −$52	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
Aftermath Perps HYPEUSD	−0.0489%	1h	93.506	−0.263%	$22K	$22K	10x	as long as short
Hibachi HYPE/USDT-P	−0.0464%	1h	93.565	−0.201%	$198K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0131%	1h	93.619	−0.143%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0130%	1h	93.490	−0.280%	$701K	$897K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.683	−0.075%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0016%	1h	93.734	−0.020%	$91K	$356K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.721	−0.034%	$128K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.747	−0.006%	$23K	$330K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.764	+0.012%	$28K	—	150x	as long as short
Popdex HYPEUSDT	+0.0008%	1h	93.703	−0.053%	$62K	$1.2M	50x	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	+0.0015%	4h	93.791	+0.041%	$177K	$524K	20x	as long as short
Aster HYPEUSDT	+0.0015%	4h	93.710	−0.045%	$8.9M	$35.7M	300x	as long as short
Bybit HYPEUSDT	+0.0019%	8h	93.780	+0.029%	$324.4M	$280.8M	75x	as long as short
Phoenix HYPE	+0.0034%	1h	93.456	−0.317%	$214K	$1.2M	10x	as long as short
Derive HYPE-PERP	+0.0061%	1h	93.713	−0.042%	$16.3M	$6.9M	10x	as long as short
Gate HYPE_USDT	+0.0062%	4h	93.728	−0.027%	$44.2M	$59.0M	75x	as long as short
Binance HYPEUSDT	+0.0064%	4h	93.755	+0.002%	$384.9M	$884.1M	75x	as long as short
MEXC HYPE_USDT	+0.0064%	4h	93.745	−0.008%	$90.9M	$82.5M	100x	as long as short
Bullet HYPE-USD	+0.0067%	1h	93.738	−0.015%	$112K	$577K	20x	as long as short
edgeX HYPEUSDC	+0.0071%	4h	93.562	−0.204%	$5.1M	$29.7M	30x	as long as short
Phemex HYPEUSDT	+0.0083%	8h	93.708	−0.048%	$12.8M	$2.6M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.820	+0.071%	$18.7M	$59.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.717	−0.038%	$3.1M	$12.3M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.750	−0.003%	$399K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.686	−0.072%	$340K	$169K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.700	−0.056%	$29K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.653	−0.106%	$5.9M	$44.0M	10x	as long as short
Hyperliquid HYPEshort	+0.0100%	1h	93.766	+0.014%	$2.04B	$665.9M	10x
Pacifica HYPE	+0.0100%	1h	93.711	−0.045%	$10.1M	$14.5M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.766	+0.014%	$114.6M	$313.4M	50x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.769	+0.017%	$47.2M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.779	+0.028%	$227.4M	$102.3M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.736	−0.018%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.715	−0.040%	$7.9M	$10.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.552	−0.214%	$30.9M	$51.8M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.460	−0.312%	$7.5M	$45.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.565	−0.200%	$416K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.557	−0.209%	$677K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.714	−0.042%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.744	−0.010%	$496K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.778	+0.027%	$76K	$166K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.794	+0.044%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.765	+0.013%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.680	−0.078%	$205K	$7K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.741	−0.013%	$18.3M	$41.6M	50x	as long as short
Kalshi KXHYPEPERP	+0.0118%	8h	93.643	−0.117%	$1.9M	$5.1M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.830	+0.082%	$4.9M	$5.7M	50x	as long as short
HTX HYPE-USDT	+0.0219%	4h	93.947	+0.207%	$1.5M	$7.7M	75x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	93.770	+0.018%	$30K	$338K	12x	as long as short
Reya HYPERUSDPERP	+0.0248%	1h	93.716	−0.040%	$77K	$155K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0251%	1h	93.859	+0.113%	$7.4M	$4.5M	50x	as long as short
BloFin HYPE-USDT	+0.0259%	4h	93.600	−0.163%	$16.9M	$12.3M	75x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.761	+0.008%	$2.8M	$6.8M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]long	L +0.0340% / S −0.0165%	1h	93.753	long leg	$1.4M	—	100x
Kraken Futures PF_HYPEUSD	+0.0463%	1h	93.889	+0.145%	$21.0M	$28.9M	50x	as long as short