HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0832%/8h= +91.2% APRnext payment +$1.04 per $10,000 · paid last 24h +0.323%

Price spread now: Kraken Futures against Hibachi−0.310%7-day average +0.118% · you buy dearer than you sell

Net, funding: paid 7d − costs+$118as in the Funding arb table

Net, price: spread back to 7d avg − costs−$112as in the Price arb table

costs, in and out, $10k−$690.688% of the position

Long on Hibachi Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+1.869%+$187 on $10k

Price spread, last 4 days (all we have)+0.034%+$3 · spread now −0.310%, 7d avg +0.118%

Together, before fees+1.902%+ Points / potential airdropHibachi: Active · farm board+$190 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.428% cheaper against Hibachi than usual: you would sell low and buy high (spread −0.310% now, against its 7-day average of +0.118%). If the spread goes back, that is −$43 on $10k: about 41 hours of funding at the current rate (+$25 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi HYPE/USDT-P	94.602	−0.0880	get 0.0110% / 1h	33m 23s	$207K	$268K	7x
Short	Kraken Futures PF_HYPEUSD	94.309	−0.0048	pay 0.0006% / 1h	33m 23s	$18.9M	$35.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.310%Rate

Funding earned: $174.81
Price spread: −0.310% → +0.118%: −$42.75
Slippage, 4 orders: −$49.77
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $63.29
Costs to cover: 0.688%
Break-even: 4.5 days

Slippage from Hibachi: live order book, 1 min ago; Kraken Futures: live order book, 6 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, 1 min ago	11.01 bp	15.5 bp −$16	34.9 bp −$349	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 6 min ago	1.96 bp	9.6 bp −$10	17.5 bp −$175	41.9 bp −$4,191	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	−0.0880%	1h	94.602	long leg	$207K	$268K	7x
Bluefin HYPE-PERP	−0.0618%	1h	94.287	−0.333%	$80K	$150K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0308%	1h	94.670	+0.072%	$22K	$20K	10x	as long as short
Bullet HYPE-USD	−0.0236%	1h	94.320	−0.298%	$112K	$577K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0170%	1h	94.300	−0.319%	$704K	$1.3M	10x	as long as short
Arcus HYPE-USD	−0.0112%	1h	94.345	−0.271%	$1.0M	$3.5M	10x	as long as short
Gate HYPE_USDT	−0.0100%	4h	94.333	−0.284%	$51.4M	$55.1M	75x	as long as short
01 Exchange HYPEUSD	−0.0096%	1h	94.376	−0.239%	$89K	$365K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.377	−0.238%	$3K	$331	25x	as long as short
Kraken Futures PF_HYPEUSDshort	−0.0048%	1h	94.309	−0.310%	$18.9M	$35.4M	50x

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit HYPEUSDT	−0.0024%	8h	94.310	−0.308%	$317.2M	$296.4M	75x	as long as short
Orderly PERP_HYPE_USDC	−0.0008%	4h	94.308	−0.311%	$147K	$681K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.395	−0.219%	$129K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.451	−0.159%	$1.8M	$5.6M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.608	+0.006%	$19K	$285K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.652	+0.053%	$123K	—	150x	as long as short
Phoenix HYPE	+0.0008%	1h	94.654	+0.055%	$210K	$1.2M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0016%	1h	94.330	−0.287%	$4.7M	$6.3M	50x	as long as short
Bitget HYPEUSDT	+0.0028%	4h	94.339	−0.278%	$226.7M	$99.4M	75x	as long as short
Derive HYPE-PERP	+0.0034%	1h	94.592	−0.010%	$16.3M	$7.5M	10x	as long as short
Vest HYPE-PERP	+0.0041%	1h	94.467	−0.142%	—	$190K	5x	as long as short
Paradex HYPE-USD-PERP	+0.0047%	8h	94.368	−0.247%	$337K	$154K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0049%	8h	94.309	−0.310%	$117.7M	$328.4M	50x	as long as short
Phemex HYPEUSDT	+0.0064%	8h	94.326	−0.292%	$12.9M	$2.9M	50x	as long as short
SoDEX HYPE-USD	+0.0068%	1h	94.330	−0.287%	$2.1M	$2.0M	10x	as long as short
edgeX HYPEUSDC	+0.0080%	4h	94.626	+0.026%	$5.0M	$30.9M	30x	as long as short
Backpack HYPE_USDC_PERP	+0.0088%	1h	94.499	−0.109%	$7.6M	$10.4M	20x	as long as short
Lighter HYPE	+0.0096%	1h	94.328	−0.289%	$16.2M	$62.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.375	−0.240%	$3.2M	$10.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.356	−0.260%	$148K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.380	−0.234%	$40K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.391	−0.222%	$7.2M	$51.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.464	−0.146%	$2.08B	$686.6M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.360	−0.255%	$9.6M	$37.5M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.387	−0.227%	$10.2M	$14.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.310	−0.308%	$379.8M	$937.4M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.564	−0.040%	$220K	$14K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.324	−0.294%	$93.8M	$86.1M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.367	−0.248%	$47.1M	$19.2M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.314	−0.304%	—	$53.5M	—	as long as short
Variational Omni HYPE	+0.0100%	8h	94.619	+0.019%	$30.0M	$56.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.643	+0.044%	$7.6M	$44.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.587	−0.016%	$345K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.634	+0.034%	$696K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.460	−0.150%	$498K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.369	−0.246%	$32K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.500	−0.108%	$1.4M	$6.9M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.294	−0.325%	$18.4M	$43.4M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.343	−0.273%	$399K	$153K	20x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	94.412	−0.201%	$3.1M	$6.4M	20x	as long as short
Injective HYPE/USDC PERP	+0.0153%	1h	95.170	+0.601%	$31K	$340K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0237%	1h	94.428	−0.184%	$7.5M	$4.4M	50x	as long as short
Reya HYPERUSDPERP	+0.0271%	1h	94.540	−0.065%	$85K	$104K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0156%	1h	94.382	−0.233%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.303	−0.316%	$17.2M	$12.6M	75x	as long as short