HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.1048%/8h= −114.8% APRnext payment −$1.31 per $10,000 · paid last 24h −0.120%

Price spread now: Arcus against Hyperliquid−0.120%7-day average −0.031% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$160.159% of the position

Long on Hyperliquid Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.172%−$17 on $10k

Price spread, last 7 days+0.112%+$11 · spread now −0.120%, 7d avg −0.031%

Together, before fees−0.059%+ Points / potential airdropHyperliquid: Season 2 · farm board−$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$31 a day on $10k at the current rate, and Arcus is 0.089% cheaper against Hyperliquid than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.031%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.172% in total (about -17.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.31 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	Hyperliquid HYPE	92.641	0.0100	pay 0.0013% / 1h	31m 28s	$2.02B	$665.7M	10x
Short	Arcus HYPE-USD	92.530	−0.0948	pay 0.0119% / 1h	31m 28s	$1.0M	$3.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Hyperliquid. 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 HyperliquidbpFee ArcusbpOrdersPrice spread, now −0.120%Rate

Funding earned: −$220.09
Price spread: −0.120% → −0.031%: −$8.92
Slippage, 4 orders: −$2.38
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$244.88
Costs to cover: 0.159%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 13 min ago; Arcus: 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 Hyperliquid live order book, 13 min ago	0.05 bp	4.7 bp −$5	doesn't fit	doesn't fit	doesn't fit
Sell Arcus live order book, 3 min ago	0.65 bp	3.3 bp −$3	4.8 bp −$48	25.0 bp −$2,502	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
Arcus HYPE-USDshort	−0.0948%	1h	92.530	−0.120%	$1.0M	$3.8M	10x
Hibachi HYPE/USDT-P	−0.0304%	1h	92.464	−0.191%	$194K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0184%	1h	92.406	−0.253%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.545	−0.104%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0066%	4h	92.571	−0.076%	$157K	$664K	20x	as long as short
01 Exchange HYPEUSD	−0.0056%	1h	92.645	+0.004%	$87K	$356K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0001%	1h	92.480	−0.174%	$696K	$1.1M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.615	−0.028%	$127K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.612	−0.032%	$22K	$309K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.611	−0.033%	$62K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet HYPE-USD	+0.0005%	1h	92.607	−0.037%	$111K	$580K	20x	as long as short
Aster HYPEUSDT	+0.0018%	4h	92.619	−0.024%	$8.7M	$36.3M	300x	as long as short
BingX HYPE-USDT	+0.0036%	4h	92.607	−0.037%	—	$53.3M	—	as long as short
Phoenix HYPE	+0.0043%	1h	92.278	−0.392%	$209K	$1.2M	10x	as long as short
Phemex HYPEUSDT	+0.0046%	8h	92.542	−0.107%	$12.5M	$2.7M	50x	as long as short
Bybit HYPEUSDT	+0.0054%	8h	92.590	−0.055%	$316.4M	$281.8M	75x	as long as short
Gate HYPE_USDT	+0.0070%	4h	92.606	−0.038%	$44.4M	$55.1M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0082%	8h	92.599	−0.045%	$113.4M	$303.9M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0093%	8h	92.654	+0.014%	$339K	$163K	20x	as long as short
MEXC HYPE_USDT	+0.0094%	4h	92.614	−0.029%	$87.5M	$80.7M	100x	as long as short
Lighter HYPE	+0.0096%	1h	92.623	−0.019%	$16.0M	$62.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.633	−0.009%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.605	−0.039%	$69K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.570	−0.077%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.612	−0.031%	$6.8M	$44.2M	10x	as long as short
Hyperliquid HYPElong	+0.0100%	1h	92.641	long leg	$2.02B	$665.7M	10x
Pacifica HYPE	+0.0100%	1h	92.648	+0.008%	$10.0M	$15.0M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.615	−0.028%	$371.3M	$903.2M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.298	−0.370%	$201K	$13K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.617	−0.026%	$46.0M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.601	−0.043%	$224.6M	$98.3M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.548	−0.100%	$7.3M	$10.8M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.139	−0.542%	$28.2M	$57.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.290	−0.379%	$7.5M	$46.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.436	−0.221%	$338K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.553	−0.095%	$663K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.634	−0.007%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.621	−0.022%	$472K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.585	−0.060%	$78K	$170K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.534	−0.116%	$16.0M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.534	−0.115%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.553	−0.095%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.679	+0.041%	$1.4M	$6.2M	75x	as long as short
edgeX HYPEUSDC	+0.0103%	4h	92.227	−0.446%	$4.9M	$29.6M	30x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.593	−0.052%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.548	−0.101%	$391K	$164K	20x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	92.380	−0.282%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.540	−0.109%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0249%	8h	92.588	−0.057%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0261%	1h	92.597	−0.048%	$79K	$137K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0154%	1h	92.609	−0.035%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0330%	4h	92.477	−0.177%	$16.7M	$11.5M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0332%	1h	92.600	−0.045%	$20.5M	$30.5M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0409%	1h	92.635	−0.006%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.676	+0.038%	$3.1M	$6.4M	20x	as long as short