HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.1097%/8h= −120.1% APRnext payment −$1.37 per $10,000 · paid last 24h −0.276%

Price spread now: Hibachi against Hyperliquid−0.127%7-day average −0.114% · you buy dearer than you sell

Net, funding: paid 7d − costs−$239as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$690.695% of the position

Long on Hyperliquid Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 7 days−1.690%−$169 on $10k

Price spread, last 3 days (all we have)+0.239%+$24 · spread now −0.127%, 7d avg −0.114%

Together, before fees−1.451%+ Points / potential airdropHyperliquid: Season 2 · Hibachi: Active · farm board−$145 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.114%, so right now this pair is about funding alone: −$33 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid HYPE	93.669	0.0257	pay 0.0032% / 1h	28m 38s	$2.03B	$676.2M	10x
Short	Hibachi HYPE/USDT-P	93.550	−0.0840	pay 0.0105% / 1h	28m 38s	$198K	$230K	7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi 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 HibachibpOrdersPrice spread, now −0.127%Rate

Funding earned: −$230.38
Price spread: −0.127% → −0.114%: −$1.29
Slippage, 4 orders: −$51.5
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: −$301.17
Costs to cover: 0.695%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 6 min ago; Hibachi: live order book, 50 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	4.7 bp −$5	5.4 bp −$54	doesn't fit	doesn't fit
Sell Hibachi live order book, 50 min ago	16.26 bp	37.8 bp −$38	57.5 bp −$575	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-Pshort	−0.0840%	1h	93.550	−0.127%	$198K	$230K	7x
Aftermath Perps HYPEUSD	−0.0353%	1h	93.784	+0.123%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	93.564	−0.112%	$1.2M	$3.8M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.624	−0.048%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0058%	1h	93.560	−0.116%	$703K	$910K	10x	as long as short
01 Exchange HYPEUSD	−0.0040%	1h	93.635	−0.036%	$86K	$366K	20x	as long as short
Derive HYPE-PERP	−0.0017%	1h	93.592	−0.082%	$16.4M	$7.1M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.663	−0.007%	$127K	$30K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.644	−0.027%	$23K	$329K	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0002%	4h	93.665	−0.004%	$166K	$583K	20x	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 −0.0003%	1h	93.690	+0.022%	$26K	—	150x	as long as short
Phoenix HYPE	+0.0009%	1h	93.687	+0.019%	$214K	$1.2M	10x	as long as short
Aster HYPEUSDT	+0.0015%	4h	93.633	−0.038%	$8.9M	$36.0M	300x	as long as short
Bybit HYPEUSDT	+0.0018%	8h	93.640	−0.031%	$321.8M	$283.2M	75x	as long as short
MEXC HYPE_USDT	+0.0056%	4h	93.638	−0.033%	$87.8M	$81.8M	100x	as long as short
Binance HYPEUSDT	+0.0057%	4h	93.656	−0.014%	$383.2M	$895.4M	75x	as long as short
Phemex HYPEUSDT	+0.0070%	8h	93.676	+0.007%	$12.8M	$2.6M	50x	as long as short
edgeX HYPEUSDC	+0.0080%	4h	93.817	+0.158%	$5.1M	$29.9M	30x	as long as short
Gate HYPE_USDT	+0.0086%	4h	93.637	−0.034%	$44.5M	$59.1M	75x	as long as short
Lighter HYPE	+0.0096%	1h	93.688	+0.020%	$18.9M	$60.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.662	−0.007%	$3.0M	$12.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.652	−0.018%	$64K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.669	0.000%	$398K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.658	−0.011%	$340K	$171K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.610	−0.063%	$43K	$1.6M	10x	as long as short
Bullet HYPE-USD	+0.0100%	1h	93.633	−0.038%	$112K	$578K	20x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.645	−0.025%	$5.7M	$44.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.674	+0.006%	$10.1M	$14.5M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.643	−0.028%	$115.3M	$320.0M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.625	−0.047%	$204K	$7K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.644	−0.027%	$46.4M	$18.6M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.669	0.000%	$226.9M	$102.7M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.647	−0.023%	—	$54.1M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.648	−0.022%	$7.8M	$10.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.564	−0.112%	$31.2M	$53.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.632	−0.040%	$7.6M	$45.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.819	+0.160%	$341K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.617	−0.056%	$677K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.676	+0.008%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.666	−0.003%	$490K	$2.4M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.659	−0.011%	$76K	$171K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.708	+0.042%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.666	−0.003%	$2.0M	$2.0M	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.410	+0.791%	$31K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.630	−0.041%	$18.3M	$42.8M	50x	as long as short
Kalshi KXHYPEPERP	+0.0130%	8h	93.726	+0.061%	$1.9M	$5.0M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	93.690	+0.022%	$4.9M	$5.7M	50x	as long as short
HTX HYPE-USDT	+0.0217%	4h	93.820	+0.161%	$1.5M	$7.8M	75x	as long as short
BloFin HYPE-USDT	+0.0226%	4h	93.652	−0.018%	$17.0M	$12.6M	75x	as long as short
Reya HYPERUSDPERP	+0.0249%	1h	93.650	−0.021%	$77K	$142K	15x	as long as short
Hyperliquid HYPElong	+0.0257%	1h	93.669	long leg	$2.03B	$676.2M	10x
RISEx HYPE/USDC	+0.0284%	1h	93.702	+0.035%	$2.8M	$6.9M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0337% / S −0.0163%	1h	93.677	+0.008%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0497%	1h	93.767	+0.105%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0579%	1h	93.759	+0.096%	$20.9M	$29.4M	50x	as long as short