HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.1220%/8h= +133.6% APRnext payment +$1.52 per $10,000 · paid last 24h +0.202%

Price spread now: Nado against Hibachi+0.122%7-day average +0.071% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$670.669% of the position

Long on Hibachi Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+1.031%+$103 on $10k

Price spread, last 4 days (all we have)−0.062%−$6 · spread now +0.122%, 7d avg +0.071%

Together, before fees+0.969%+ Points / potential airdropHibachi: Active · Nado: Active · farm board+$97 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$37 a day on $10k at the current rate, and Nado is 0.051% dearer against Hibachi than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.071%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi HYPE/USDT-P	93.308	−0.1120	get 0.0140% / 1h	4m 16s	$196K	$227K	7x
Short	Nado HYPE-PERP	93.422	0.0100	get 0.0012% / 1h	4m 16s	$5.7M	$43.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.122%Rate

Funding earned: $256.2
Price spread: +0.122% → +0.071%: $5.13
Slippage, 4 orders: −$50.88
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $194.45
Costs to cover: 0.669%
Break-even: 1.7 days

Slippage from Hibachi: live order book, 65 min ago; Nado: live order book, 5 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, 65 min ago	20.74 bp	25.2 bp −$25	44.6 bp −$446	doesn't fit	doesn't fit
Sell Nado live order book, 5 min ago	0.05 bp	4.2 bp −$4	5.5 bp −$55	26.8 bp −$2,675	doesn't fit

HYPE on 54 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	−0.1120%	1h	93.308	long leg	$196K	$227K	7x
Arcus HYPE-USD	−0.0786%	1h	93.352	+0.047%	$1.2M	$3.8M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.347	+0.041%	$3K	$331	25x	as long as short
Phemex HYPEUSDT	−0.0075%	8h	93.388	+0.085%	$12.6M	$2.7M	50x	as long as short
Ondo Perps HYPE-USD.P	−0.0061%	1h	93.330	+0.023%	$699K	$905K	10x	as long as short
Orderly PERP_HYPE_USDC	−0.0053%	4h	93.381	+0.078%	$156K	$640K	20x	as long as short
01 Exchange HYPEUSD	−0.0040%	1h	93.501	+0.206%	$85K	$347K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0034%	1h	93.481	+0.185%	$22K	$21K	10x	as long as short
Aster HYPEUSDT	−0.0003%	4h	93.448	+0.149%	$8.8M	$35.7M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.389	+0.087%	$128K	$31K	5x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	93.485	+0.189%	$22K	$321K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.438	+0.139%	$26K	—	150x	as long as short
BingX HYPE-USDT	+0.0006%	4h	93.427	+0.127%	—	$53.4M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0009%	1h	93.318	+0.010%	$7.4M	$10.4M	20x	as long as short
Bybit HYPEUSDT	+0.0016%	8h	93.396	+0.094%	$320.4M	$276.9M	75x	as long as short
Gate HYPE_USDT	+0.0018%	4h	93.426	+0.126%	$44.3M	$55.4M	75x	as long as short
Phoenix HYPE	+0.0060%	1h	93.424	+0.124%	$210K	$1.2M	10x	as long as short
MEXC HYPE_USDT	+0.0070%	4h	93.448	+0.150%	$88.2M	$83.5M	100x	as long as short
Bullet HYPE-USD	+0.0075%	1h	93.425	+0.125%	$112K	$578K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0076%	8h	93.392	+0.090%	$114.8M	$302.8M	50x	as long as short
Binance HYPEUSDT	+0.0076%	4h	93.452	+0.154%	$380.2M	$880.4M	75x	as long as short
edgeX HYPEUSDC	+0.0085%	4h	93.295	−0.015%	$5.0M	$30.0M	30x	as long as short
Lighter HYPE	+0.0096%	1h	93.433	+0.134%	$16.3M	$62.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.423	+0.123%	$3.1M	$11.9M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.480	+0.184%	$67K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.412	+0.111%	$397K	$172K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.459	+0.161%	$339K	$163K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.490	+0.195%	$21K	$1.6M	10x	as long as short
Nado HYPE-PERPshort	+0.0100%	1h	93.422	+0.122%	$5.7M	$43.7M	10x
Hyperliquid HYPE	+0.0100%	1h	93.529	+0.236%	$2.04B	$657.6M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.445	+0.146%	$10.0M	$14.7M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.335	+0.029%	$203K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.431	+0.131%	$46.2M	$18.0M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.408	+0.107%	$226.0M	$97.3M	75x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.349	+0.043%	$31.1M	$54.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.391	+0.089%	$7.5M	$47.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.340	+0.034%	$337K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.370	+0.066%	$666K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.484	+0.188%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.475	+0.179%	$475K	$2.4M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.370	+0.066%	$79K	$170K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.367	+0.062%	$16.2M	$7.7M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.524	+0.231%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.401	+0.099%	$2.0M	$1.9M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.369	+0.065%	$18.3M	$43.6M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0136%	1h	93.410	+0.109%	$4.9M	$5.4M	50x	as long as short
Injective HYPE/USDC PERP	+0.0137%	1h	94.180	+0.934%	$31K	$339K	12x	as long as short
HTX HYPE-USDT	+0.0194%	4h	93.600	+0.313%	$1.4M	$5.9M	75x	as long as short
RISEx HYPE/USDC	+0.0210%	1h	93.559	+0.268%	$3.2M	$6.7M	20x	as long as short
Reya HYPERUSDPERP	+0.0256%	1h	93.426	+0.126%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0279%	8h	93.460	+0.163%	$1.9M	$4.9M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0156%	1h	93.429	+0.130%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0382%	1h	93.477	+0.181%	$7.4M	$4.4M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0682%	1h	93.474	+0.177%	$20.8M	$29.8M	50x	as long as short