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Funding arb · Price arb /

HYPE

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Alert: spread
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Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.020%
Price spread now: Bulk against GRVT−0.180%56s7-day average +0.006% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$190.195% of the position
Long on GRVTShort on Bulk
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.019%+$2 on $10k
Price spread, last 4 days (all we have)+0.188%+$19 · spread now −0.180%, 7d avg +0.006%
Together, before fees+0.207%+ Points / potential airdropGRVT: Active · farm board+$21 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: Bulk is 0.186% cheaper against GRVT than usual: you would sell low and buy high, −$19 on $10k if it goes back to its 7-day average of +0.006%. The two prices were read 56 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongGRVT HYPE_USDT_Perp93.5160.0100pay 0.0050% / 4h2h 32m$7.5M$48.3M10x
ShortBulk HYPE-USD93.3480.0100get 0.0013% / 1h32m 13s$203K$10K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bulk against GRVT. 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

Funding earned
$0
Price spread: −0.180% → +0.006%
−$18.57
Slippage, 4 orders
−$3.47
Fee GRVT: 4.5 bp × 2 orders
−$9
Fee Bulk: 3.5 bp × 2 orders
−$7
Net
−$38.04
Costs to cover
0.195%
Break-even
78158547366147488.0 days
Slippage from GRVT: live order book, 2 min ago; Bulk: live order book, 37 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy GRVT live order book, 2 min ago0.75 bp5.3 bp −$56.1 bp −$615977.7 bp −$597.8Kdoesn't fit
Sell Bulk live order book, 37 min ago0.53 bp4.4 bp −$46.8 bp −$6811.9 bp −$1,19321.5 bp −$10.7K

HYPE on 54 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−0.0888%1h93.443−0.078%$196K$231K7xas long as short
Arcus HYPE-USD−0.0786%1h93.522+0.006%$1.2M$3.9M10xas long as short
Aftermath Perps HYPEUSD−0.0171%1h93.413−0.110%$22K$21K10xas long as short
Phemex HYPEUSDT−0.0117%8h93.596+0.086%$12.7M$2.7M50xas long as short
Ondo Perps HYPE-USD.P−0.0093%1h93.560+0.047%$698K$988K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.482−0.036%$3K$33125xas long as short
01 Exchange HYPEUSD−0.0064%1h93.662+0.156%$86K$351K20xas long as short
Backpack HYPE_USDC_PERP−0.0059%1h93.619+0.110%$7.8M$10.4M20xas long as short
Orderly PERP_HYPE_USDC−0.0057%4h93.648+0.141%$156K$652K20xas long as short
Gate HYPE_USDT−0.0056%4h93.633+0.125%$44.4M$54.6M75xas long as short
Show all 54 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster HYPEUSDT−0.0024%4h93.639+0.132%$8.9M$36.2M300xas long as short
dYdX HYPE-USD0.0000%1h93.622+0.113%$128K$31K5xas long as short
Perpl HYPE0.0000%43m93.612+0.103%$22K$331K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0003%1h93.686+0.182%$26K—150xas long as short
BingX HYPE-USDT+0.0006%4h93.635+0.127%—$53.8M—as long as short
Bybit HYPEUSDT+0.0006%8h93.613+0.104%$321.6M$284.4M75xas long as short
MEXC HYPE_USDT+0.0054%4h93.642+0.135%$88.1M$82.7M100xas long as short
Binance HYPEUSDT+0.0054%4h93.640+0.133%$380.9M$904.2M75xas long as short
edgeX HYPEUSDC+0.0059%4h93.458−0.062%$5.1M$30.0M30xas long as short
Phoenix HYPE+0.0060%1h93.170−0.370%$210K$1.2M10xas long as short
Bullet HYPE-USD+0.0060%1h93.676+0.171%$112K$578K20xas long as short
OKX HYPE-USDT-SWAP+0.0065%8h93.630+0.122%$115.1M$315.3M50xas long as short
Derive HYPE-PERP+0.0079%1h93.626+0.118%$16.2M$7.7M10xas long as short
Paradex HYPE-USD-PERP+0.0094%8h93.646+0.139%$340K$165K20xas long as short
Lighter HYPE+0.0096%1h93.647+0.140%$16.4M$62.4M20xas long as short
Lighter RH HYPE+0.0096%1h93.650+0.143%$3.1M$11.9M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.655+0.149%$66K$1.2M50xas long as short
Aevo HYPE-PERP+0.0096%1h93.675+0.170%$398K$177K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.590+0.079%$21K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.641+0.133%$5.7M$45.2M10xas long as short
Hyperliquid HYPE+0.0100%1h93.745+0.245%$2.05B$670.4M10xas long as short
Pacifica HYPE+0.0100%1h93.619+0.110%$10.1M$14.8M20xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.660+0.154%$46.2M$18.4M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.637+0.129%$226.5M$100.3M75xas long as short
Variational Omni HYPE+0.0100%8h93.411−0.113%$31.0M$54.9M—as long as short
GRVT HYPE_USDT_Perplong+0.0100%4h93.516long leg$7.5M$48.3M10x
ApeX Omni HYPEUSDT+0.0100%1h93.468−0.051%$338K$1.1M50xas long as short
StandX HYPE-USD+0.0100%1h93.477−0.042%$667K$2.6M20xas long as short
Vest HYPE-PERP+0.0100%1h93.666+0.160%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.708+0.205%$469K$2.5M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.649+0.142%$79K$172K20xas long as short
SunX HYPE-USDT+0.0100%4h93.748+0.248%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.644+0.137%$2.0M$2.0M10xas long as short
Bulk HYPE-USDshort+0.0100%1h93.348−0.180%$203K$10K10x
Extended HYPE-USD+0.0104%1h93.600+0.090%$18.4M$44.5M50xas long as short
Coinbase International HYPE-PERP-INTX+0.0136%1h93.740+0.240%$4.9M$5.6M50xas long as short
Injective HYPE/USDC PERP+0.0137%1h93.490−0.028%$30K$339K12xas long as short
RISEx HYPE/USDC+0.0210%1h93.676+0.171%$2.7M$6.7M20xas long as short
HTX HYPE-USDT+0.0218%4h93.815+0.320%$1.4M$5.9M75xas long as short
Reya HYPERUSDPERP+0.0254%1h93.667+0.162%$80K$140K15xas long as short
Kalshi KXHYPEPERP+0.0266%8h93.514−0.002%$1.9M$5.1M2.3xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0335% / S −0.0158%1h93.691+0.187%$1.4M—100xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0519%1h93.752+0.252%$7.5M$4.5M50xas long as short
Kraken Futures PF_HYPEUSD+0.0680%1h93.731+0.229%$20.9M$30.1M50xas long as short