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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 06:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.033%
Price spread now: Kraken Futures against Katana Perps+0.131%7-day average +0.058% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on Katana PerpsShort on Kraken Futures
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.074%+$7 on $10k
Price spread, last 4 days (all we have)−0.165%−$17 · spread now +0.131%, 7d avg +0.058%
Together, before fees−0.091%−$9 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Kraken Futures is 0.073% dearer against Katana Perps than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.058%.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.074% in total (about 7.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKatana Perps HYPE-USD93.5900.0099pay 0.0099% / 8h2h 51m$28K$1.7M10x
ShortKraken Futures PF_HYPEUSD93.7120.0340get 0.0042% / 1h51m 00s$20.9M$29.6M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kraken Futures against Katana Perps. 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

Funding earned
$50.5
Price spread: +0.131% → +0.058%
$7.28
Slippage, 4 orders
no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders
−$3.8
Fee Kraken Futures: 5 bp × 2 orders
−$10
Net
$43.98
Costs to cover
0.138%
Break-even
0.9 days
Slippage unknown: Katana Perps: no order-book sample; Kraken Futures: live order book, 3 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Katana Perps no order-book sample—————
Sell Kraken Futures live order book, 3 min ago1.71 bp8.7 bp −$912.7 bp −$12722.2 bp −$2,22562.3 bp −$31.2K
Katana Perps: 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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-P−0.1880%1h93.511−0.085%$197K$232K7xas long as short
Aftermath Perps HYPEUSD−0.0373%1h93.530−0.064%$22K$21K10xas long as short
Bullet HYPE-USD−0.0087%1h93.650+0.064%$112K$578K20xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.628+0.041%$3K$33125xas long as short
Orderly PERP_HYPE_USDC−0.0033%4h93.654+0.068%$146K$663K20xas long as short
01 Exchange HYPEUSD−0.0032%1h93.644+0.058%$88K$365K20xas long as short
Ondo Perps HYPE-USD.P−0.0015%1h93.620+0.032%$704K$1.2M10xas long as short
dYdX HYPE-USD0.0000%1h93.686+0.102%$128K$29K5xas long as short
Perpl HYPE0.0000%43m93.611+0.022%$22K$290K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0002%1h93.683+0.099%$62K—150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Arcus HYPE-USD+0.0011%1h93.5900.000%$1.0M$3.9M10xas long as short
Phemex HYPEUSDT+0.0016%8h93.667+0.082%$12.6M$2.7M50xas long as short
Bitget HYPEUSDT+0.0020%4h93.5900.000%$226.5M$99.1M75xas long as short
Bybit HYPEUSDT+0.0024%8h93.5900.000%$318.3M$283.7M75xas long as short
Phoenix HYPE+0.0026%1h93.701+0.119%$210K$1.2M10xas long as short
edgeX HYPEUSDC+0.0083%4h93.497−0.099%$5.0M$29.9M30xas long as short
Paradex HYPE-USD-PERP+0.0095%8h93.630+0.043%$341K$162K20xas long as short
Lighter HYPE+0.0096%1h93.657+0.072%$16.2M$63.0M20xas long as short
Lighter RH HYPE+0.0096%1h93.646+0.060%$3.1M$11.4M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.618+0.030%$77K$1.1M50xas long as short
Katana Perps HYPE-USDlong+0.0099%8h93.590long leg$28K$1.7M10x
Nado HYPE-PERP+0.0100%1h93.618+0.029%$7.6M$48.3M10xas long as short
Hyperliquid HYPE+0.0100%1h93.651+0.066%$2.04B$666.2M10xas long as short
Aster HYPEUSDT+0.0100%4h93.613+0.025%$8.7M$36.4M300xas long as short
Pacifica HYPE+0.0100%1h93.626+0.038%$10.1M$15.3M20xas long as short
Binance HYPEUSDT+0.0100%4h93.609+0.020%$375.3M$911.5M75xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.594+0.004%$114.8M$309.4M50xas long as short
Bulk HYPE-USD+0.0100%1h93.614+0.026%$204K$3K10xas long as short
Gate HYPE_USDT+0.0100%4h93.619+0.031%$46.4M$53.9M75xas long as short
MEXC HYPE_USDT+0.0100%4h93.594+0.004%$92.1M$80.2M100xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.604+0.015%$46.9M$18.7M75xas long as short
BingX HYPE-USDT+0.0100%4h93.583−0.007%—$54.0M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.633+0.046%$7.3M$11.0M20xas long as short
Variational Omni HYPE+0.0100%8h93.649+0.063%$28.7M$56.6M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.576−0.015%$7.5M$47.1M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.516−0.079%$343K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.550−0.043%$669K$2.9M20xas long as short
Vest HYPE-PERP+0.0100%1h93.690+0.107%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.664+0.079%$491K$2.7M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.666+0.081%$79K$166K20xas long as short
Derive HYPE-PERP+0.0100%1h93.642+0.055%$16.1M$7.5M10xas long as short
SunX HYPE-USDT+0.0100%4h93.603+0.014%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.653+0.067%$2.0M$1.9M10xas long as short
HTX HYPE-USDT+0.0100%4h93.745+0.166%$1.4M$6.4M75xas long as short
Extended HYPE-USD+0.0104%1h93.563−0.029%$18.2M$43.2M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.661+0.076%$396K$161K20xas long as short
Injective HYPE/USDC PERP+0.0122%1h93.570−0.021%$30K$339K12xas long as short
Kalshi KXHYPEPERP+0.0122%8h93.684+0.100%$1.8M$5.6M2.3xas long as short
Coinbase International HYPE-PERP-INTX+0.0144%1h93.670+0.085%$4.8M$5.6M50xas long as short
Reya HYPERUSDPERP+0.0268%1h93.642+0.055%$80K$131K15xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0332% / S −0.0154%1h93.672+0.087%$1.4M—100xas long as short
Kraken Futures PF_HYPEUSDshort+0.0340%1h93.712+0.131%$20.9M$29.6M50x
BloFin HYPE-USDT+0.0340%4h93.673+0.089%$16.9M$11.9M75xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0391%1h93.736+0.156%$7.5M$4.0M50xas long as short
RISEx HYPE/USDC+0.0527%1h93.679+0.095%$3.2M$6.3M20xas long as short