Funding you earn now, next payment 21:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h +0.038%
Price spread now: Phoenix against GRVT−0.016%7-day average +0.094% · you buy dearer than you sell
Net, funding: paid 7d − costs+$8as in the Funding arb table
Net, price: spread back to 7d avg − costs−$31as in the Price arb table
costs, in and out, $10k−$200.203% of the position
Funding, last 7 days+0.287%+$29 on $10k
+Price spread, last 7 days+0.124%+$12 · spread now −0.016%, 7d avg +0.094%
=Together, before fees+0.410%+ Points / potential airdropGRVT: Active · farm board+$41 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Phoenix is 0.110% cheaper against GRVT than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.094%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.287%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GRVT HYPE_USDT_Perp | 93.383 | 0.0100 | pay 0.0050% / 4h | 2h 51m | $7.5M | $46.8M | 10x |
| Short | Phoenix HYPE | 93.368 | 0.0068 | get 0.0009% / 1h | 51m 24s | $215K | $1.2M | 10x |
GRVT HYPE_USDT_Perp
Phoenix HYPEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against GRVT. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$6.62
- Price spread: −0.016% → +0.094%
- −$10.99
- Slippage, 4 orders
- −$4.32
- Fee GRVT: 4.5 bp × 2 orders
- −$9
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$37.93
- Costs to cover
- 0.203%
- Break-even
- never at this rate
Slippage from GRVT: live order book, 3 min ago; Phoenix: live order book, 2 min ago.
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 GRVT live order book, 3 min ago | 0.05 bp | 4.6 bp −$5 | 5.1 bp −$51 | 5140.3 bp −$514.0K | doesn't fit |
| Sell Phoenix live order book, 2 min ago | 1.18 bp | 5.6 bp −$6 | 10.0 bp −$100 | 126.7 bp −$12.7K | doesn't fit |
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 | −0.1304% | 1h | 93.259 | −0.134% | $197K | $233K | 7x | as long as short |
| Ondo Perps HYPE-USD.P | −0.0191% | 1h | 93.210 | −0.186% | $700K | $949K | 10x | as long as short |
| Aftermath Perps HYPEUSD | −0.0128% | 1h | 93.305 | −0.083% | $22K | $22K | 10x | as long as short |
| 01 Exchange HYPEUSD | −0.0096% | 1h | 93.334 | −0.053% | $89K | $344K | 20x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 93.320 | −0.068% | $3K | $331 | 25x | as long as short |
| Bullet HYPE-USD | −0.0039% | 1h | 93.271 | −0.120% | $113K | $583K | 20x | as long as short |
| dYdX HYPE-USD | 0.0000% | 1h | 93.326 | −0.062% | $127K | $33K | 5x | as long as short |
| Kalshi KXHYPEPERP | 0.0000% | 8h | 93.413 | +0.032% | $1.9M | $5.4M | 2.3x | as long as short |
| Perpl HYPE | 0.0000% | 43m | 93.269 | −0.122% | $23K | $343K | 10x | as long as short |
| gTrade (Gains Network) HYPE/USD | L +0.0002% / S −0.0001% | 1h | 93.336 | −0.050% | $20K | — | 150x | as long as short |
Hibachi HYPE/USDT-P
Ondo Perps HYPE-USD.P
Aftermath Perps HYPEUSD
01 Exchange HYPEUSD
Hotstuff HYPE-PERP
Bullet HYPE-USD
dYdX HYPE-USD
Kalshi KXHYPEPERP
Perpl HYPE
gTrade (Gains Network) HYPE/USDShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate HYPE_USDT | +0.0004% | 4h | 93.278 | −0.113% | $44.1M | $56.2M | 75x | as long as short |
| Aster HYPEUSDT | +0.0006% | 4h | 93.286 | −0.104% | $8.9M | $36.3M | 300x | as long as short |
| Derive HYPE-PERP | +0.0024% | 1h | 93.295 | −0.094% | $16.4M | $7.1M | 10x | as long as short |
| Bybit HYPEUSDT | +0.0041% | 8h | 93.290 | −0.100% | $325.2M | $288.3M | 75x | as long as short |
| Phoenix HYPEshort | +0.0068% | 1h | 93.368 | −0.016% | $215K | $1.2M | 10x | |
| Orderly PERP_HYPE_USDC | +0.0077% | 4h | 93.348 | −0.038% | $180K | $536K | 20x | as long as short |
| Lighter HYPE | +0.0096% | 1h | 93.330 | −0.057% | $18.5M | $59.1M | 20x | as long as short |
| Lighter RH HYPE | +0.0096% | 1h | 93.295 | −0.094% | $3.1M | $12.3M | 20x | as long as short |
| Popdex HYPEUSDT | +0.0096% | 1h | 93.291 | −0.099% | $56K | $1.2M | 50x | as long as short |
| Katana Perps HYPE-USD | +0.0100% | 8h | 93.290 | −0.100% | $40K | $1.7M | 10x | as long as short |
| Nado HYPE-PERP | +0.0100% | 1h | 93.302 | −0.088% | $6.0M | $44.4M | 10x | as long as short |
| Hyperliquid HYPE | +0.0100% | 1h | 93.354 | −0.031% | $2.03B | $668.5M | 10x | as long as short |
| Pacifica HYPE | +0.0100% | 1h | 93.308 | −0.081% | $10.0M | $14.5M | 20x | as long as short |
| Binance HYPEUSDT | +0.0100% | 4h | 93.302 | −0.087% | $385.8M | $890.1M | 75x | as long as short |
| OKX HYPE-USDT-SWAP | +0.0100% | 8h | 93.297 | −0.092% | $114.7M | $316.1M | 50x | as long as short |
| Arcus HYPE-USD | +0.0100% | 1h | 93.261 | −0.131% | $1.2M | $4.0M | 10x | as long as short |
| Bulk HYPE-USD | +0.0100% | 1h | 93.335 | −0.051% | $204K | $12K | 10x | as long as short |
| MEXC HYPE_USDT | +0.0100% | 4h | 93.286 | −0.104% | $92.2M | $81.6M | 100x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 93.315 | −0.073% | $46.3M | $19.4M | 75x | as long as short |
| Bitget HYPEUSDT | +0.0100% | 4h | 93.303 | −0.086% | $226.6M | $102.0M | 75x | as long as short |
| BingX HYPE-USDT | +0.0100% | 4h | 93.301 | −0.088% | — | $54.4M | — | as long as short |
| Backpack HYPE_USDC_PERP | +0.0100% | 1h | 93.361 | −0.024% | $7.9M | $11.7M | 20x | as long as short |
| Variational Omni HYPE | +0.0100% | 8h | 93.285 | −0.106% | $28.8M | $49.9M | — | as long as short |
| GRVT HYPE_USDT_Perplong | +0.0100% | 4h | 93.383 | long leg | $7.5M | $46.8M | 10x | |
| ApeX Omni HYPEUSDT | +0.0100% | 1h | 93.287 | −0.103% | $405K | $1.1M | 50x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 93.340 | −0.046% | $675K | $2.4M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 93.341 | −0.045% | — | $454K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 93.324 | −0.063% | $493K | $2.6M | 20x | as long as short |
| Bluefin HYPE-PERP | +0.0100% | 1h | 93.341 | −0.045% | $76K | $169K | 20x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 93.327 | −0.060% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 93.340 | −0.046% | $2.0M | $2.0M | 10x | as long as short |
| Phemex HYPEUSDT | +0.0100% | 8h | 93.340 | −0.046% | $12.7M | $2.6M | 50x | as long as short |
| Paradex HYPE-USD-PERP | +0.0100% | 8h | 93.306 | −0.083% | $339K | $171K | 20x | as long as short |
| Extended HYPE-USD | +0.0104% | 1h | 93.272 | −0.119% | $18.4M | $41.0M | 50x | as long as short |
| Aevo HYPE-PERP | +0.0104% | 1h | 93.364 | −0.021% | $397K | $318K | 20x | as long as short |
| edgeX HYPEUSDC | +0.0113% | 4h | 93.276 | −0.115% | $5.1M | $29.5M | 30x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0208% | 1h | 93.440 | +0.061% | $4.9M | $5.7M | 50x | as long as short |
| Reya HYPERUSDPERP | +0.0245% | 1h | 93.304 | −0.084% | $77K | $157K | 15x | as long as short |
| Injective HYPE/USDC PERP | +0.0285% | 1h | 93.130 | −0.271% | $30K | $231K | 12x | as long as short |
| Deribit HYPE_USDC-PERPETUAL | +0.0317% | 1h | 93.448 | +0.069% | $7.4M | $4.6M | 50x | as long as short |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0339% / S −0.0165% | 1h | 93.331 | −0.056% | $1.4M | — | 100x | as long as short |
| BloFin HYPE-USDT | +0.0340% | 4h | 93.281 | −0.109% | $17.1M | $12.5M | 75x | as long as short |
| HTX HYPE-USDT | +0.0410% | 4h | 93.493 | +0.118% | $1.5M | $7.6M | 75x | as long as short |
| RISEx HYPE/USDC | +0.0467% | 1h | 93.358 | −0.027% | $2.7M | $6.8M | 20x | as long as short |
| Kraken Futures PF_HYPEUSD | +0.0574% | 1h | 93.438 | +0.058% | $19.2M | $25.8M | 50x | as long as short |
Gate HYPE_USDT
Aster HYPEUSDT
Derive HYPE-PERP
Bybit HYPEUSDT
Orderly PERP_HYPE_USDC
Lighter HYPE
Lighter RH HYPE
Popdex HYPEUSDT
Katana Perps HYPE-USD
Nado HYPE-PERP
Hyperliquid HYPE
Pacifica HYPE
Binance HYPEUSDT
OKX HYPE-USDT-SWAP
Arcus HYPE-USD
Bulk HYPE-USD
MEXC HYPE_USDT
KuCoin HYPEUSDTM
Bitget HYPEUSDT
BingX HYPE-USDT
Backpack HYPE_USDC_PERP
Variational Omni HYPE
ApeX Omni HYPEUSDT
StandX HYPE-USD
Vest HYPE-PERP
Polymarket Perps HYPE-USD
Bluefin HYPE-PERP
SunX HYPE-USDT
SoDEX HYPE-USD
Phemex HYPEUSDT
Paradex HYPE-USD-PERP
Extended HYPE-USD
Aevo HYPE-PERP
edgeX HYPEUSDC
Coinbase International HYPE-PERP-INTX
Reya HYPERUSDPERP
Injective HYPE/USDC PERP
Deribit HYPE_USDC-PERPETUAL
GMX HYPE/USD [WBTC.b-USDC]
BloFin HYPE-USDT
HTX HYPE-USDT
RISEx HYPE/USDC
Kraken Futures PF_HYPEUSD