HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0063%/8h= +6.9% APRnext payment +$0.08 per $10,000 · paid last 24h −0.038%

Price spread now: GMX against Hyperliquid−0.055%7-day average −0.033% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Hyperliquid Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.007%+$1 on $10k

Price spread, last 3 days (all we have)+0.114%+$11 · spread now −0.055%, 7d avg −0.033%

Together, before fees+0.121%+ Points / potential airdropHyperliquid: Season 2 · farm board+$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.022% cheaper against Hyperliquid than usual: you would sell low and buy high (spread −0.055% now, against its 7-day average of −0.033%). If the spread goes back, that is −$2 on $10k: about 28 hours of funding at the current rate (+$2 a day). At the pace of the last 3 days (+0.007% in total) that is about 9.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid HYPE	93.914	0.0100	pay 0.0013% / 1h	11m 10s	$2.04B	$681.2M	10x
Short	GMX HYPE/USD [WBTC.b-USDC]	93.863	L +0.0338% / S −0.0163%	get 0.0020% / 1h	11m 10s	$1.4M	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Hyperliquid. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 GMXbpOrdersPrice spread, now −0.055%Rate

Funding earned: $13.17
Price spread: −0.055% → −0.033%: −$2.18
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee GMX: 6 bp × 2 orders: −$12
Net: −$10.01
Costs to cover: 0.210%
Break-even: 12.3 days

Slippage unknown: Hyperliquid: live order book, 13 min ago; GMX: no order-book sample. Net counts fees only.

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	5.5 bp −$5	doesn't fit	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1232%	1h	93.765	−0.159%	$198K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0406%	1h	93.852	−0.066%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	93.730	−0.196%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0105%	1h	93.780	−0.143%	$705K	$916K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.868	−0.049%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0072%	1h	93.830	−0.089%	$86K	$368K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0003%	4h	93.849	−0.069%	$169K	$588K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.935	+0.022%	$128K	$30K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.868	−0.049%	$23K	$329K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.862	−0.055%	$27K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix HYPE	+0.0009%	1h	93.919	+0.005%	$217K	$1.2M	10x	as long as short
Aster HYPEUSDT	+0.0017%	4h	93.854	−0.064%	$8.9M	$36.1M	300x	as long as short
Bybit HYPEUSDT	+0.0021%	8h	93.810	−0.111%	$322.7M	$283.9M	75x	as long as short
Derive HYPE-PERP	+0.0027%	1h	93.776	−0.147%	$16.4M	$7.1M	10x	as long as short
Phemex HYPEUSDT	+0.0042%	8h	93.813	−0.108%	$12.8M	$2.6M	50x	as long as short
MEXC HYPE_USDT	+0.0052%	4h	93.813	−0.108%	$88.3M	$82.2M	100x	as long as short
Binance HYPEUSDT	+0.0053%	4h	93.811	−0.110%	$383.0M	$898.2M	75x	as long as short
edgeX HYPEUSDC	+0.0061%	4h	93.800	−0.121%	$5.1M	$29.6M	30x	as long as short
Popdex HYPEUSDT	+0.0064%	1h	93.826	−0.094%	$60K	$1.2M	50x	as long as short
Gate HYPE_USDT	+0.0074%	4h	93.819	−0.101%	$44.1M	$59.9M	75x	as long as short
Bullet HYPE-USD	+0.0087%	1h	93.823	−0.097%	$113K	$578K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0093%	8h	93.801	−0.120%	$115.8M	$322.4M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.858	−0.060%	$18.9M	$60.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.837	−0.082%	$3.0M	$12.3M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.828	−0.092%	$399K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.896	−0.019%	$341K	$171K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.810	−0.111%	$37K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.856	−0.061%	$5.7M	$44.4M	10x	as long as short
Hyperliquid HYPElong	+0.0100%	1h	93.914	long leg	$2.04B	$681.2M	10x
Pacifica HYPE	+0.0100%	1h	93.892	−0.024%	$10.1M	$14.6M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.820	−0.100%	$205K	$7K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.826	−0.094%	$46.4M	$18.6M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.811	−0.110%	$227.2M	$102.2M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.814	−0.106%	—	$54.2M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.847	−0.071%	$7.9M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.811	−0.109%	$31.2M	$54.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.848	−0.070%	$7.6M	$45.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.859	−0.059%	$359K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.811	−0.110%	$678K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.880	−0.036%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.854	−0.064%	$471K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.841	−0.078%	$76K	$172K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.859	−0.059%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.811	−0.110%	$2.0M	$2.0M	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.410	+0.528%	$31K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.803	−0.118%	$18.3M	$42.8M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	93.870	−0.047%	$4.9M	$5.7M	50x	as long as short
Kalshi KXHYPEPERP	+0.0154%	8h	93.960	+0.049%	$1.9M	$5.0M	2.3x	as long as short
HTX HYPE-USDT	+0.0193%	4h	94.000	+0.092%	$1.5M	$7.8M	75x	as long as short
BloFin HYPE-USDT	+0.0212%	4h	93.801	−0.120%	$16.9M	$12.6M	75x	as long as short
Reya HYPERUSDPERP	+0.0249%	1h	93.809	−0.112%	$77K	$142K	15x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	93.872	−0.045%	$2.8M	$6.8M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]short	L +0.0338% / S −0.0163%	1h	93.863	−0.055%	$1.4M	—	100x
Deribit HYPE_USDC-PERPETUAL	+0.0347%	1h	93.934	+0.021%	$7.5M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0578%	1h	93.925	+0.011%	$21.0M	$29.5M	50x	as long as short