HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0436%/8h= +47.7% APRnext payment +$0.54 per $10,000 · paid last 24h +0.237%

Price spread now: Bluefin against Hibachi−0.013%7-day average +0.076% · you buy dearer than you sell

Net, funding: paid 7d − costs+$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$93as in the Price arb table

costs, in and out, $10k−$840.838% of the position

Long on Hibachi Short on Bluefin

What this pair did over the last

the charts below follow

Funding, last 7 days+1.508%+$151 on $10k

Price spread, last 3 days (all we have)+0.023%+$2 · spread now −0.013%, 7d avg +0.076%

Together, before fees+1.530%+ Points / potential airdropHibachi: Active · farm board+$153 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bluefin is 0.089% cheaper against Hibachi than usual: you would sell low and buy high (spread −0.013% now, against its 7-day average of +0.076%). If the spread goes back, that is −$9 on $10k: about 16 hours of funding at the current rate (+$13 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi HYPE/USDT-P	93.268	−0.0336	get 0.0042% / 1h	16m 05s	$197K	$230K	7x
Short	Bluefin HYPE-PERP	93.256	0.0100	get 0.0013% / 1h	16m 05s	$76K	$167K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bluefin against Hibachi. 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 HibachibpFee BluefinbpOrdersPrice spread, now −0.013%Rate

Funding earned: $91.56
Price spread: −0.013% → +0.076%: −$8.85
Slippage, 4 orders: −$67.84
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: −$1.13
Costs to cover: 0.838%
Break-even: 7.1 days

Slippage from Hibachi: live order book, 3 min ago; Bluefin: live order book, 3 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 Hibachi live order book, 3 min ago	16.26 bp	20.8 bp −$21	40.3 bp −$403	doesn't fit	doesn't fit
Sell Bluefin live order book, 3 min ago	2.73 bp	12.0 bp −$12	doesn't fit	doesn't fit	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
Aftermath Perps HYPEUSD	−0.0436%	1h	93.187	−0.087%	$22K	$22K	10x	as long as short
Hibachi HYPE/USDT-Plong	−0.0336%	1h	93.268	long leg	$197K	$230K	7x
Arcus HYPE-USD	−0.0131%	1h	93.198	−0.075%	$1.2M	$4.0M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0123%	1h	93.170	−0.105%	$699K	$931K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.189	−0.085%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0032%	1h	93.286	+0.019%	$90K	$361K	20x	as long as short
Aster HYPEUSDT	0.0000%	4h	93.255	−0.014%	$8.9M	$35.9M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.278	+0.011%	$127K	$32K	5x	as long as short
Popdex HYPEUSDT	0.0000%	1h	93.266	−0.002%	$58K	$1.2M	50x	as long as short
Perpl HYPE	0.0000%	43m	93.243	−0.027%	$23K	$331K	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.277	+0.010%	$27K	—	150x	as long as short
Orderly PERP_HYPE_USDC	+0.0020%	4h	93.258	−0.011%	$172K	$518K	20x	as long as short
Bybit HYPEUSDT	+0.0023%	8h	93.211	−0.061%	$322.9M	$286.2M	75x	as long as short
Bullet HYPE-USD	+0.0032%	1h	93.228	−0.043%	$112K	$579K	20x	as long as short
Phoenix HYPE	+0.0034%	1h	93.249	−0.020%	$214K	$1.2M	10x	as long as short
Derive HYPE-PERP	+0.0047%	1h	93.201	−0.072%	$16.3M	$7.0M	10x	as long as short
Binance HYPEUSDT	+0.0065%	4h	93.231	−0.040%	$381.7M	$894.3M	75x	as long as short
Gate HYPE_USDT	+0.0066%	4h	93.217	−0.055%	$43.9M	$58.6M	75x	as long as short
MEXC HYPE_USDT	+0.0066%	4h	93.226	−0.045%	$90.1M	$82.3M	100x	as long as short
edgeX HYPEUSDC	+0.0079%	4h	93.210	−0.063%	$5.1M	$29.7M	30x	as long as short
Lighter HYPE	+0.0096%	1h	93.260	−0.009%	$18.6M	$59.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.247	−0.023%	$3.1M	$12.2M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.244	−0.026%	$397K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.249	−0.021%	$339K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.250	−0.019%	$35K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.269	+0.002%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.252	−0.017%	$2.03B	$669.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.273	+0.005%	$10.0M	$14.4M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.213	−0.059%	$114.1M	$313.9M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.232	−0.038%	$204K	$8K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.261	−0.008%	$47.0M	$18.7M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.215	−0.057%	$226.0M	$103.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.209	−0.063%	—	$53.8M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.231	−0.040%	$7.8M	$10.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.153	−0.123%	$29.0M	$50.6M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.253	−0.016%	$7.5M	$46.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.262	−0.006%	$415K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.195	−0.078%	$674K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.254	−0.015%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.263	−0.005%	$493K	$2.5M	20x	as long as short
Bluefin HYPE-PERPshort	+0.0100%	1h	93.256	−0.013%	$76K	$167K	20x
SunX HYPE-USDT	+0.0100%	4h	93.303	+0.038%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.218	−0.054%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.195	−0.078%	$12.7M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.215	−0.057%	$18.2M	$41.9M	50x	as long as short
Kalshi KXHYPEPERP	+0.0117%	8h	93.322	+0.058%	$1.9M	$5.3M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.300	+0.034%	$4.9M	$5.7M	50x	as long as short
HTX HYPE-USDT	+0.0235%	4h	93.384	+0.124%	$1.5M	$7.7M	75x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	93.190	−0.084%	$30K	$338K	12x	as long as short
Reya HYPERUSDPERP	+0.0247%	1h	93.215	−0.057%	$77K	$159K	15x	as long as short
BloFin HYPE-USDT	+0.0265%	4h	93.192	−0.081%	$16.8M	$12.5M	75x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.324	+0.060%	$2.7M	$6.8M	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0318%	1h	93.328	+0.064%	$7.4M	$4.6M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0165%	1h	93.263	−0.005%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0465%	1h	93.332	+0.068%	$20.9M	$29.0M	50x	as long as short