HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0184%/8h= +20.2% APRnext payment +$0.23 per $10,000 · paid last 24h −0.023%

Price spread now: RISEx against Hyperliquid−0.056%7-day average −0.011% · 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−$21as in the Price arb table

costs, in and out, $10k−$170.169% of the position

Long on Hyperliquid Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.050%+$5 on $10k

Price spread, last 7 days+0.088%+$9 · spread now −0.056%, 7d avg −0.011%

Together, before fees+0.138%+ Points / potential airdropHyperliquid: Season 2 · farm board+$14 on $10k · with fees, hour by hour

Funding pays, the price is against you. RISEx is 0.045% cheaper against Hyperliquid than usual: you would sell low and buy high (spread −0.056% now, against its 7-day average of −0.011%). If the spread goes back, that is −$5 on $10k: about 20 hours of funding at the current rate (+$6 a day). At the pace of the last 3 days (+0.050% in total) that is about 3.1 days.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.050% in total (about 5.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.23 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	94.032	0.0100	pay 0.0013% / 1h	7m 56s	$2.05B	$679.4M	10x
Short	RISEx HYPE/USDC	93.979	0.0284	get 0.0036% / 1h	7m 56s	$2.8M	$6.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now −0.056%Rate

Funding earned: $38.68
Price spread: −0.056% → −0.011%: −$4.55
Slippage, 4 orders: −$1.85
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee RISEx: 3 bp × 2 orders: −$6
Net: $17.28
Costs to cover: 0.169%
Break-even: 3.9 days

Slippage from Hyperliquid: live order book, 6 min ago; RISEx: live order book, 1 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	5.7 bp −$57	doesn't fit	doesn't fit
Sell RISEx live order book, 1 min ago	0.85 bp	3.9 bp −$4	6.4 bp −$64	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	−0.1296%	1h	93.798	−0.249%	$199K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0391%	1h	93.894	−0.147%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	93.830	−0.215%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0116%	1h	93.870	−0.172%	$705K	$917K	10x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	93.936	−0.102%	$86K	$368K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.944	−0.094%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0003%	4h	93.958	−0.079%	$170K	$593K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.941	−0.096%	$128K	$30K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.964	−0.073%	$23K	$329K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.954	−0.083%	$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	−0.120%	$217K	$1.2M	10x	as long as short
Derive HYPE-PERP	+0.0011%	1h	93.875	−0.167%	$16.4M	$7.2M	10x	as long as short
Aster HYPEUSDT	+0.0018%	4h	93.943	−0.094%	$8.9M	$36.1M	300x	as long as short
Bybit HYPEUSDT	+0.0019%	8h	93.910	−0.130%	$323.1M	$284.0M	75x	as long as short
Phemex HYPEUSDT	+0.0037%	8h	93.880	−0.162%	$12.8M	$2.6M	50x	as long as short
MEXC HYPE_USDT	+0.0050%	4h	93.894	−0.147%	$88.4M	$82.2M	100x	as long as short
Binance HYPEUSDT	+0.0052%	4h	93.925	−0.113%	$383.9M	$898.5M	75x	as long as short
edgeX HYPEUSDC	+0.0061%	4h	93.800	−0.246%	$5.1M	$29.6M	30x	as long as short
Popdex HYPEUSDT	+0.0064%	1h	93.933	−0.105%	$60K	$1.2M	50x	as long as short
Gate HYPE_USDT	+0.0070%	4h	93.926	−0.113%	$44.2M	$60.0M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0090%	8h	93.917	−0.122%	$115.9M	$322.8M	50x	as long as short
Bullet HYPE-USD	+0.0095%	1h	93.944	−0.094%	$113K	$578K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.982	−0.053%	$18.9M	$60.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.954	−0.083%	$3.1M	$12.3M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.929	−0.110%	$400K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.975	−0.061%	$341K	$171K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.920	−0.119%	$38K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.925	−0.113%	$5.7M	$44.4M	10x	as long as short
Hyperliquid HYPElong	+0.0100%	1h	94.032	long leg	$2.05B	$679.4M	10x
Pacifica HYPE	+0.0100%	1h	93.951	−0.086%	$10.1M	$14.5M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.889	−0.152%	$205K	$7K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.928	−0.111%	$46.5M	$18.6M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.921	−0.118%	$227.4M	$102.3M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.919	−0.120%	—	$54.1M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.959	−0.078%	$7.9M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.811	−0.235%	$31.2M	$54.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.855	−0.188%	$7.6M	$45.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.859	−0.184%	$359K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.956	−0.081%	$679K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.968	−0.068%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.959	−0.078%	$472K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.931	−0.107%	$76K	$171K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.960	−0.077%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.922	−0.117%	$2.0M	$2.0M	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.410	+0.402%	$31K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.899	−0.141%	$18.3M	$42.8M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	94.010	−0.023%	$4.9M	$5.7M	50x	as long as short
Kalshi KXHYPEPERP	+0.0155%	8h	93.977	−0.058%	$1.9M	$5.0M	2.3x	as long as short
HTX HYPE-USDT	+0.0192%	4h	94.106	+0.079%	$1.5M	$7.8M	75x	as long as short
BloFin HYPE-USDT	+0.0206%	4h	93.947	−0.090%	$17.0M	$12.6M	75x	as long as short
Reya HYPERUSDPERP	+0.0250%	1h	93.918	−0.122%	$77K	$142K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0271%	1h	94.029	−0.003%	$7.5M	$4.6M	50x	as long as short
RISEx HYPE/USDCshort	+0.0284%	1h	93.979	−0.056%	$2.8M	$6.9M	20x
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0163%	1h	93.962	−0.075%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0577%	1h	94.026	−0.007%	$21.0M	$29.5M	50x	as long as short