HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0168%/8h= −18.4% APRnext payment −$0.21 per $10,000 · paid last 24h −0.047%

Price spread now: Bullet against Hyperliquid−0.144%7-day average −0.030% · 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−$34as in the Price arb table

costs, in and out, $10k−$230.230% of the position

Long on Hyperliquid Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.072%−$7 on $10k

Price spread, last 4 days (all we have)+0.345%+$34 · spread now −0.144%, 7d avg −0.030%

Together, before fees+0.273%+ Points / potential airdropHyperliquid: Season 2 · farm board+$27 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Bullet is 0.115% cheaper against Hyperliquid than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.030%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid HYPE	94.489	0.0100	pay 0.0013% / 1h	8m 07s	$2.08B	$687.0M	10x
Short	Bullet HYPE-USD	94.353	−0.0068	pay 0.0008% / 1h	8m 07s	$111K	$578K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet 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 BulletbpOrdersPrice spread, now −0.144%Rate

Funding earned: −$35.24
Price spread: −0.144% → −0.030%: −$11.46
Slippage, 4 orders: −$5.99
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$69.68
Costs to cover: 0.230%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 6 min ago; Bullet: live order book, 36 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, 6 min ago	0.05 bp	4.6 bp −$5	doesn't fit	doesn't fit	doesn't fit
Sell Bullet live order book, 36 min ago	0.43 bp	8.3 bp −$8	13.3 bp −$133	doesn't fit	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-P	−0.1136%	1h	94.129	−0.381%	$200K	$236K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0155%	1h	94.267	−0.235%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0092%	1h	94.180	−0.327%	$710K	$1.2M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.313	−0.186%	$3K	$331	25x	as long as short
Bullet HYPE-USDshort	−0.0068%	1h	94.353	−0.144%	$111K	$578K	20x
01 Exchange HYPEUSD	−0.0048%	1h	94.338	−0.160%	$87K	$367K	20x	as long as short
Bluefin HYPE-PERP	−0.0031%	1h	94.364	−0.132%	$80K	$155K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0013%	4h	94.345	−0.152%	$146K	$686K	20x	as long as short
Bybit HYPEUSDT	−0.0005%	8h	94.360	−0.137%	$317.9M	$289.2M	75x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.312	−0.188%	$129K	$26K	5x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXHYPEPERP	0.0000%	8h	94.435	−0.057%	$1.8M	$5.6M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.366	−0.130%	$19K	$287K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.370	−0.126%	$117K	—	150x	as long as short
Phoenix HYPE	+0.0017%	1h	94.223	−0.282%	$207K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0054%	4h	94.385	−0.110%	$227.3M	$99.7M	75x	as long as short
Phemex HYPEUSDT	+0.0056%	8h	94.373	−0.123%	$12.9M	$2.8M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0071%	8h	94.371	−0.125%	$337K	$156K	20x	as long as short
edgeX HYPEUSDC	+0.0083%	4h	94.173	−0.334%	$5.0M	$30.6M	30x	as long as short
Arcus HYPE-USD	+0.0084%	1h	94.298	−0.202%	$1.0M	$3.5M	10x	as long as short
OKX HYPE-USDT-SWAP	+0.0096%	8h	94.381	−0.114%	$116.5M	$320.3M	50x	as long as short
Lighter HYPE	+0.0096%	1h	94.388	−0.106%	$16.3M	$64.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.391	−0.104%	$3.2M	$11.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.315	−0.184%	$79K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.280	−0.221%	$13K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.320	−0.178%	$7.4M	$50.6M	10x	as long as short
Hyperliquid HYPElong	+0.0100%	1h	94.489	long leg	$2.08B	$687.0M	10x
Aster HYPEUSDT	+0.0100%	4h	94.394	−0.101%	$8.8M	$37.2M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.346	−0.151%	$10.2M	$15.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.386	−0.109%	$377.7M	$931.4M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.183	−0.324%	$217K	$15K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.392	−0.103%	$49.4M	$57.0M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.387	−0.108%	$90.0M	$85.4M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.368	−0.128%	$47.0M	$18.5M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.374	−0.122%	—	$53.5M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.375	−0.121%	$7.5M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.138	−0.372%	$29.1M	$55.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.189	−0.317%	$7.6M	$46.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.149	−0.360%	$362K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.193	−0.313%	$681K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.376	−0.120%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.375	−0.121%	$496K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.388	−0.107%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.389	−0.106%	$2.1M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.500	+0.012%	$1.4M	$6.8M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.342	−0.156%	$18.2M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.367	−0.129%	$399K	$159K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	94.350	−0.147%	$4.7M	$6.2M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0151% / S +0.0022%	1h	94.411	−0.082%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.090	−0.422%	$30K	$340K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0237%	1h	94.461	−0.030%	$7.5M	$4.3M	50x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.332	−0.166%	$83K	$134K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.227	−0.277%	$16.9M	$12.3M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0412%	1h	94.436	−0.056%	$20.2M	$30.3M	50x	as long as short
RISEx HYPE/USDC	+0.0559%	1h	94.350	−0.147%	$3.2M	$6.4M	20x	as long as short