HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0188%/8h= −20.6% APRnext payment −$0.23 per $10,000 · paid last 24h −0.079%

Price spread now: 01 Exchange against Hyperliquid−0.089%7-day average −0.015% · 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−$31as in the Price arb table

costs, in and out, $10k−$230.231% of the position

Long on Hyperliquid Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.095%−$9 on $10k

Price spread, last 4 days (all we have)+0.156%+$16 · spread now −0.089%, 7d avg −0.015%

Together, before fees+0.061%+ Points / potential airdropHyperliquid: Season 2 · farm board+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and 01 Exchange is 0.074% cheaper against Hyperliquid than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.015%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid HYPE	93.890	0.0100	pay 0.0013% / 1h	20m 30s	$2.05B	$673.5M	10x
Short	01 Exchange HYPEUSD	93.806	−0.0088	pay 0.0011% / 1h	20m 30s	$86K	$360K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −0.089%Rate

Funding earned: −$39.48
Price spread: −0.089% → −0.015%: −$7.41
Slippage, 4 orders: −$7.13
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$70.02
Costs to cover: 0.231%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 4 min ago; 01 Exchange: live order book, 54 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, 4 min ago	0.05 bp	4.6 bp −$5	5.9 bp −$59	doesn't fit	doesn't fit
Sell 01 Exchange live order book, 54 min ago	0.16 bp	6.7 bp −$7	10.2 bp −$102	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	−0.1336%	1h	93.984	+0.101%	$199K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0625%	1h	93.698	−0.204%	$1.2M	$3.8M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0196%	1h	94.079	+0.201%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0155%	1h	93.910	+0.021%	$710K	$959K	10x	as long as short
dYdX HYPE-USD	−0.0114%	1h	93.863	−0.029%	$129K	$31K	5x	as long as short
Bullet HYPE-USD	−0.0099%	1h	93.819	−0.075%	$112K	$581K	20x	as long as short
01 Exchange HYPEUSDshort	−0.0088%	1h	93.806	−0.089%	$86K	$360K	20x
Hotstuff HYPE-PERP	−0.0080%	1h	93.802	−0.094%	$3K	$331	25x	as long as short
Gate HYPE_USDT	−0.0068%	4h	93.785	−0.112%	$44.4M	$59.9M	75x	as long as short
Phemex HYPEUSDT	−0.0051%	8h	93.927	+0.039%	$12.8M	$2.6M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit HYPEUSDT	−0.0025%	8h	93.791	−0.105%	$322.3M	$280.3M	75x	as long as short
Orderly PERP_HYPE_USDC	−0.0023%	4h	93.935	+0.048%	$159K	$645K	20x	as long as short
Perpl HYPE	0.0000%	43m	93.820	−0.074%	$23K	$327K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	94.002	+0.120%	$27K	—	150x	as long as short
Aster HYPEUSDT	+0.0013%	4h	93.827	−0.067%	$8.9M	$36.1M	300x	as long as short
Derive HYPE-PERP	+0.0023%	1h	93.926	+0.039%	$16.4M	$7.3M	10x	as long as short
Phoenix HYPE	+0.0034%	1h	94.149	+0.276%	$219K	$1.2M	10x	as long as short
MEXC HYPE_USDT	+0.0048%	4h	93.838	−0.055%	$89.0M	$82.8M	100x	as long as short
Binance HYPEUSDT	+0.0048%	4h	93.807	−0.088%	$382.6M	$893.6M	75x	as long as short
edgeX HYPEUSDC	+0.0070%	4h	94.065	+0.186%	$5.1M	$30.0M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0075%	8h	93.803	−0.093%	$115.7M	$317.0M	50x	as long as short
Bluefin HYPE-PERP	+0.0095%	1h	93.950	+0.064%	$76K	$171K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.827	−0.067%	$19.1M	$59.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.838	−0.055%	$3.0M	$12.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.818	−0.077%	$64K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.951	+0.065%	$400K	$180K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.789	−0.108%	$341K	$165K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.850	−0.043%	$20K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.766	−0.132%	$6.6M	$44.8M	10x	as long as short
Hyperliquid HYPElong	+0.0100%	1h	93.890	long leg	$2.05B	$673.5M	10x
Pacifica HYPE	+0.0100%	1h	93.810	−0.086%	$10.2M	$14.6M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.825	−0.069%	$46.7M	$18.2M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.816	−0.079%	$227.5M	$100.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.798	−0.098%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.853	−0.039%	$7.7M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.939	+0.053%	$31.4M	$54.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.199	+0.329%	$7.6M	$46.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.047	+0.167%	$340K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.952	+0.066%	$679K	$2.6M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.832	−0.062%	$480K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.038	+0.158%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.972	+0.087%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.151	+0.278%	$205K	$2K	10x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.864	−0.028%	—	$243K	5x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.775	−0.123%	$18.8M	$44.5M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	94.000	+0.117%	$4.9M	$5.5M	50x	as long as short
BloFin HYPE-USDT	+0.0192%	4h	93.962	+0.077%	$17.0M	$12.2M	75x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.490	+0.639%	$31K	$338K	12x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	93.859	−0.033%	$2.7M	$6.8M	20x	as long as short
Kalshi KXHYPEPERP	+0.0227%	8h	94.002	+0.119%	$1.9M	$5.1M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0252%	1h	93.803	−0.093%	$79K	$142K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0324%	1h	94.064	+0.185%	$7.5M	$4.6M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0333% / S −0.0155%	1h	93.996	+0.113%	$1.4M	—	100x	as long as short
HTX HYPE-USDT	+0.0390%	4h	94.100	+0.224%	$1.5M	$6.2M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0671%	1h	94.039	+0.159%	$21.0M	$29.7M	50x	as long as short