HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.1396%/8h= +152.9% APRnext payment +$1.75 per $10,000 · paid last 24h +0.276%

Price spread now: Hyperliquid against Hibachi+0.229%7-day average +0.114% · you sell dearer than you buy

Net, funding: paid 7d − costs+$102as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$670.670% of the position

Long on Hibachi Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+1.690%+$169 on $10k

Price spread, last 3 days (all we have)−0.342%−$34 · spread now +0.229%, 7d avg +0.114%

Together, before fees+1.349%+ Points / potential airdropHibachi: Active · Hyperliquid: Season 2 · farm board+$135 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$42 a day on $10k at the current rate, and Hyperliquid is 0.116% dearer against Hibachi than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of +0.114%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi HYPE/USDT-P	93.798	−0.1296	get 0.0162% / 1h	7m 35s	$199K	$230K	7x
Short	Hyperliquid HYPE	94.013	0.0100	get 0.0013% / 1h	7m 35s	$2.04B	$679.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.229%Rate

Funding earned: $293.16
Price spread: +0.229% → +0.114%: $11.57
Slippage, 4 orders: −$48.99
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $237.74
Costs to cover: 0.670%
Break-even: 1.3 days

Slippage from Hibachi: live order book, 6 min ago; Hyperliquid: live order book, 7 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, 6 min ago	12.88 bp	40.5 bp −$40	66.0 bp −$660	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 7 min ago	0.05 bp	4.6 bp −$5	6.8 bp −$68	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
Hibachi HYPE/USDT-Plong	−0.1296%	1h	93.798	long leg	$199K	$230K	7x
Aftermath Perps HYPEUSD	−0.0391%	1h	93.894	+0.102%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	93.780	−0.019%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0117%	1h	93.830	+0.034%	$705K	$917K	10x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	93.824	+0.028%	$86K	$368K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.921	+0.131%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0003%	4h	93.958	+0.171%	$170K	$593K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.941	+0.153%	$128K	$30K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.964	+0.177%	$23K	$329K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.954	+0.167%	$27K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix HYPE	+0.0009%	1h	93.919	+0.129%	$217K	$1.2M	10x	as long as short
Derive HYPE-PERP	+0.0011%	1h	93.875	+0.082%	$16.4M	$7.2M	10x	as long as short
Aster HYPEUSDT	+0.0019%	4h	93.919	+0.129%	$8.9M	$36.1M	300x	as long as short
Bybit HYPEUSDT	+0.0019%	8h	93.900	+0.109%	$323.1M	$283.9M	75x	as long as short
Phemex HYPEUSDT	+0.0037%	8h	93.880	+0.088%	$12.8M	$2.6M	50x	as long as short
MEXC HYPE_USDT	+0.0052%	4h	93.898	+0.107%	$88.3M	$82.2M	100x	as long as short
Binance HYPEUSDT	+0.0052%	4h	93.847	+0.052%	$383.6M	$898.3M	75x	as long as short
Popdex HYPEUSDT	+0.0064%	1h	93.825	+0.029%	$60K	$1.2M	50x	as long as short
Gate HYPE_USDT	+0.0070%	4h	93.900	+0.109%	$44.2M	$60.0M	75x	as long as short
edgeX HYPEUSDC	+0.0070%	4h	93.898	+0.107%	$5.1M	$29.7M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0090%	8h	93.876	+0.083%	$115.9M	$322.6M	50x	as long as short
Bullet HYPE-USD	+0.0095%	1h	93.944	+0.156%	$113K	$578K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.954	+0.167%	$18.9M	$60.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.931	+0.142%	$3.1M	$12.3M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.929	+0.140%	$400K	$318K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.820	+0.024%	$38K	$1.6M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.933	+0.144%	$341K	$171K	20x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.925	+0.136%	$5.7M	$44.4M	10x	as long as short
Hyperliquid HYPEshort	+0.0100%	1h	94.013	+0.229%	$2.04B	$679.4M	10x
Pacifica HYPE	+0.0100%	1h	93.927	+0.138%	$10.1M	$14.5M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.889	+0.097%	$205K	$7K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.903	+0.112%	$46.5M	$18.6M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.878	+0.086%	$227.3M	$102.2M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.868	+0.075%	—	$54.2M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.959	+0.172%	$7.9M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.811	+0.015%	$31.2M	$54.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.967	+0.180%	$7.6M	$45.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.874	+0.081%	$364K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.956	+0.169%	$679K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.968	+0.181%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.959	+0.172%	$472K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.931	+0.142%	$76K	$171K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.960	+0.173%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.922	+0.132%	$2.0M	$2.0M	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.410	+0.653%	$31K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.847	+0.053%	$18.3M	$42.8M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	94.010	+0.226%	$4.9M	$5.7M	50x	as long as short
Kalshi KXHYPEPERP	+0.0155%	8h	93.977	+0.191%	$1.9M	$5.0M	2.3x	as long as short
HTX HYPE-USDT	+0.0192%	4h	94.106	+0.329%	$1.5M	$7.8M	75x	as long as short
BloFin HYPE-USDT	+0.0206%	4h	93.947	+0.159%	$17.0M	$12.6M	75x	as long as short
Reya HYPERUSDPERP	+0.0250%	1h	93.918	+0.128%	$77K	$142K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0271%	1h	94.029	+0.246%	$7.5M	$4.6M	50x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	93.895	+0.104%	$2.8M	$6.8M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0163%	1h	93.962	+0.175%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0577%	1h	94.026	+0.243%	$21.0M	$29.5M	50x	as long as short