HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0009%/8h= +0.9% APRnext payment +$0.01 per $10,000 · paid last 24h −0.030%

Price spread now: Kraken Futures against GMX+0.081%7-day average +0.025% · you sell dearer than you buy

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

Long on GMX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.119%−$12 on $10k

Price spread, last 4 days (all we have)−0.136%−$14 · spread now +0.081%, 7d avg +0.025%

Together, before fees−0.255%−$25 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Kraken Futures is 0.056% dearer against GMX than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX HYPE/USD [WBTC.b-USDC]	93.404	L +0.0332% / S −0.0154%	pay 0.0042% / 1h	36m 00s	$1.4M	—	100x
Short	Kraken Futures PF_HYPEUSD	93.479	0.0341	get 0.0043% / 1h	36m 00s	$20.8M	$29.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.081%Rate

Funding earned: $1.82
Price spread: +0.081% → +0.025%: $5.56
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$14.62
Costs to cover: 0.220%
Break-even: 63.3 days

Slippage unknown: GMX: no order-book sample; Kraken Futures: 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

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy GMX no order-book sample	—	—	—	—	—
Sell Kraken Futures live order book, 3 min ago	2.14 bp	9.7 bp −$10	12.4 bp −$124	20.5 bp −$2,054	58.1 bp −$29.1K

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-P	−0.1664%	1h	93.244	−0.171%	$196K	$234K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0378%	1h	93.333	−0.075%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.358	−0.049%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0079%	1h	93.385	−0.020%	$111K	$578K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0022%	4h	93.395	−0.009%	$146K	$663K	20x	as long as short
01 Exchange HYPEUSD	−0.0016%	1h	93.423	+0.021%	$88K	$366K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.377	−0.029%	$128K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.433	+0.032%	$22K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.413	+0.010%	$62K	—	150x	as long as short
Arcus HYPE-USD	+0.0011%	1h	93.355	−0.052%	$1.0M	$4.0M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget HYPEUSDT	+0.0016%	4h	93.451	+0.051%	$225.9M	$98.9M	75x	as long as short
Ondo Perps HYPE-USD.P	+0.0019%	1h	93.170	−0.250%	$702K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0021%	8h	93.440	+0.039%	$317.5M	$283.7M	75x	as long as short
Phoenix HYPE	+0.0026%	1h	93.305	−0.106%	$209K	$1.2M	10x	as long as short
Phemex HYPEUSDT	+0.0037%	8h	93.447	+0.046%	$12.6M	$2.7M	50x	as long as short
edgeX HYPEUSDC	+0.0093%	4h	93.126	−0.297%	$4.9M	$30.0M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	93.416	+0.014%	$340K	$162K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.430	+0.029%	$16.1M	$63.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.439	+0.038%	$3.1M	$11.4M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.383	−0.022%	$76K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.360	−0.047%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.369	−0.037%	$8.0M	$48.5M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.506	+0.110%	$2.04B	$668.5M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.453	+0.053%	$8.7M	$36.5M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.409	+0.006%	$10.1M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.461	+0.061%	$374.5M	$914.1M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.459	+0.059%	$114.7M	$310.0M	50x	as long as short
Gate HYPE_USDT	+0.0100%	4h	93.449	+0.049%	$46.7M	$54.2M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.465	+0.066%	$90.0M	$80.9M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.475	+0.076%	$46.2M	$18.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.465	+0.066%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.484	+0.086%	$7.3M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.351	−0.057%	$28.6M	$56.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.194	−0.224%	$7.5M	$47.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.132	−0.291%	$342K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.336	−0.072%	$668K	$2.9M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.425	+0.023%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.406	+0.002%	$484K	$2.7M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.383	−0.022%	$79K	$166K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.372	−0.034%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.385	−0.020%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.402	−0.002%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.600	+0.210%	$1.4M	$6.5M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.344	−0.064%	$215K	$15K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.434	+0.033%	$18.1M	$43.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.398	−0.006%	$395K	$161K	20x	as long as short
Kalshi KXHYPEPERP	+0.0112%	8h	93.470	+0.071%	$1.8M	$5.7M	2.3x	as long as short
Injective HYPE/USDC PERP	+0.0122%	1h	93.290	−0.122%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.490	+0.092%	$4.8M	$5.6M	50x	as long as short
Reya HYPERUSDPERP	+0.0268%	1h	93.376	−0.030%	$80K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]long	L +0.0332% / S −0.0154%	1h	93.404	long leg	$1.4M	—	100x
BloFin HYPE-USDT	+0.0340%	4h	93.342	−0.066%	$16.9M	$11.9M	75x	as long as short
Kraken Futures PF_HYPEUSDshort	+0.0341%	1h	93.479	+0.081%	$20.8M	$29.6M	50x
Deribit HYPE_USDC-PERPETUAL	+0.0424%	1h	93.487	+0.089%	$7.5M	$4.0M	50x	as long as short
RISEx HYPE/USDC	+0.0527%	1h	93.448	+0.047%	$3.2M	$6.2M	20x	as long as short