HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0325%/8h= −35.6% APRnext payment −$1.62 per $10,000 · paid last 24h −0.055%

Price spread now: GRVT against HTX−0.042%77s7-day average +0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$280.282% of the position

Long on HTX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.061%−$6 on $10k

Price spread, last 3 days (all we have)+0.398%+$40 · spread now −0.042%, 7d avg +0.020%

Together, before fees+0.337%+ Points / potential airdropGRVT: Active · farm board+$34 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and GRVT is 0.061% cheaper against HTX than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.020%). Swap the legs. The two prices were read 77 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.061% in total (about -3.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.62 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX HYPE-USDT	93.442	0.0425	pay 0.0212% / 4h	2h 56m	$1.5M	$7.6M	75x
Short	GRVT HYPE_USDT_Perp	93.403	0.0100	get 0.0050% / 4h	2h 56m	$7.5M	$46.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against HTX. 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 HTXbpFee GRVTbpOrdersPrice spread, now −0.042%Rate

Funding earned: −$68.21
Price spread: −0.042% → +0.020%: −$6.15
Slippage, 4 orders: −$7.16
Fee HTX: 6 bp × 2 orders: −$12
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$102.52
Costs to cover: 0.282%
Break-even: never at this rate

Slippage from HTX: live order book, 3 min ago; GRVT: 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 HTX live order book, 3 min ago	0.05 bp	9.9 bp −$10	15.4 bp −$154	42.5 bp −$4,247	doesn't fit
Sell GRVT live order book, 3 min ago	0.05 bp	4.6 bp −$5	5.2 bp −$52	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-P	−0.1360%	1h	93.304	−0.148%	$197K	$239K	7x	as long as short
Ondo Perps HYPE-USD.P	−0.0119%	1h	93.260	−0.195%	$699K	$952K	10x	as long as short
01 Exchange HYPEUSD	−0.0104%	1h	93.253	−0.202%	$89K	$340K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0084%	1h	93.353	−0.095%	$22K	$22K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.294	−0.158%	$3K	$331	25x	as long as short
Gate HYPE_USDT	−0.0002%	4h	93.277	−0.177%	$44.1M	$56.1M	75x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.341	−0.109%	$127K	$33K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.387	−0.059%	$1.9M	$5.4M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.252	−0.204%	$24K	$343K	10x	as long as short
Aster HYPEUSDT	+0.0002%	4h	93.255	−0.200%	$8.9M	$36.5M	300x	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 −0.0001%	1h	93.320	−0.131%	$20K	—	150x	as long as short
Popdex HYPEUSDT	+0.0032%	1h	93.252	−0.203%	$56K	$1.2M	50x	as long as short
Bybit HYPEUSDT	+0.0041%	8h	93.280	−0.173%	$325.2M	$288.3M	75x	as long as short
Derive HYPE-PERP	+0.0058%	1h	93.253	−0.202%	$16.4M	$7.1M	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0078%	4h	93.304	−0.148%	$180K	$536K	20x	as long as short
Phoenix HYPE	+0.0094%	1h	93.444	+0.002%	$216K	$1.1M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.360	−0.088%	$18.5M	$58.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.318	−0.133%	$3.1M	$12.3M	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.300	−0.152%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.300	−0.151%	$6.0M	$44.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.339	−0.110%	$2.03B	$674.1M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.327	−0.123%	$10.0M	$14.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.286	−0.167%	$386.1M	$891.8M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.287	−0.166%	$114.6M	$316.0M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.246	−0.210%	$1.2M	$4.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.386	−0.060%	$204K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.260	−0.195%	$91.9M	$81.3M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.259	−0.196%	$46.2M	$19.6M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.308	−0.143%	$226.7M	$102.1M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.271	−0.183%	—	$54.5M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.345	−0.104%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.466	+0.026%	$28.9M	$50.1M	—	as long as short
GRVT HYPE_USDT_Perpshort	+0.0100%	4h	93.403	−0.042%	$7.5M	$46.8M	10x
ApeX Omni HYPEUSDT	+0.0100%	1h	93.402	−0.043%	$405K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.361	−0.087%	$675K	$2.4M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.317	−0.133%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.304	−0.148%	$493K	$2.6M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	93.282	−0.171%	$112K	$583K	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.306	−0.146%	$76K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.263	−0.192%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.314	−0.137%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.348	−0.101%	$12.7M	$2.6M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0100%	8h	93.327	−0.123%	$339K	$171K	20x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.297	−0.155%	$18.4M	$41.0M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.324	−0.126%	$397K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0108%	4h	93.382	−0.064%	$5.1M	$29.4M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.380	−0.066%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0244%	1h	93.284	−0.169%	$77K	$157K	15x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.220	−0.238%	$30K	$231K	12x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0165%	1h	93.315	−0.136%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.309	−0.142%	$17.2M	$12.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0371%	1h	93.406	−0.039%	$7.4M	$4.6M	50x	as long as short
HTX HYPE-USDTlong	+0.0425%	4h	93.442	long leg	$1.5M	$7.6M	75x
RISEx HYPE/USDC	+0.0467%	1h	93.319	−0.132%	$2.7M	$6.9M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0574%	1h	93.449	+0.007%	$18.7M	$24.8M	50x	as long as short