HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0019%/8h= −2.1% APRnext payment −$0.19 per $10,000 · paid last 24h −0.024%

Price spread now: OKX against Katana Perps+0.025%46s7-day average +0.033% · you sell dearer than you buy

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

Long on Katana Perps Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.012%−$1 on $10k

Price spread, last 7 days−0.020%−$2 · spread now +0.025%, 7d avg +0.033%

Together, before fees−0.032%−$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.033%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps HYPE-USD	94.220	0.0100	pay 0.0100% / 8h	7h 36m	$24K	$1.6M	10x
Short	OKX HYPE-USDT-SWAP	94.244	0.0081	get 0.0081% / 8h	7h 36m	$116.3M	$319.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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

Position, each leg$Hold fordaysFee Katana PerpsbpFee OKXbpOrdersPrice spread, now +0.025%Rate

Funding earned: −$3.96
Price spread: +0.025% → +0.033%: −$0.77
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$18.52
Costs to cover: 0.138%
Break-even: never at this rate

Slippage unknown: Katana Perps: no order-book sample; OKX: live order book, 2 min ago. 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 Katana Perps no order-book sample	—	—	—	—	—
Sell OKX live order book, 2 min ago	0.05 bp	5.8 bp −$6	9.2 bp −$92	18.5 bp −$1,855	doesn't fit

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.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hibachi HYPE/USDT-P	−0.1464%	1h	94.187	−0.035%	$199K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0625%	1h	94.137	−0.088%	$1.2M	$3.8M	10x	as long as short
Phemex HYPEUSDT	−0.0282%	8h	94.196	−0.025%	$12.8M	$2.6M	50x	as long as short
Aftermath Perps HYPEUSD	−0.0266%	1h	94.083	−0.145%	$22K	$23K	10x	as long as short
dYdX HYPE-USD	−0.0193%	1h	94.245	+0.027%	$129K	$30K	5x	as long as short
Ondo Perps HYPE-USD.P	−0.0164%	1h	94.180	−0.042%	$705K	$937K	10x	as long as short
Bullet HYPE-USD	−0.0087%	1h	94.221	+0.001%	$112K	$580K	20x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	94.238	+0.019%	$86K	$361K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.245	+0.027%	$3K	$331	25x	as long as short
Bybit HYPEUSDT	−0.0017%	8h	94.224	+0.004%	$323.8M	$280.7M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_HYPE_USDC	−0.0012%	4h	94.248	+0.030%	$166K	$598K	20x	as long as short
Gate HYPE_USDT	−0.0006%	4h	94.235	+0.016%	$44.6M	$59.5M	75x	as long as short
Perpl HYPE	0.0000%	43m	94.278	+0.062%	$23K	$327K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	94.252	+0.034%	$27K	—	150x	as long as short
Aster HYPEUSDT	+0.0023%	4h	94.254	+0.036%	$8.9M	$36.1M	300x	as long as short
Phoenix HYPE	+0.0034%	1h	94.173	−0.050%	$219K	$1.2M	10x	as long as short
MEXC HYPE_USDT	+0.0044%	4h	94.249	+0.031%	$89.2M	$82.3M	100x	as long as short
Derive HYPE-PERP	+0.0045%	1h	94.202	−0.019%	$16.5M	$7.3M	10x	as long as short
Binance HYPEUSDT	+0.0049%	4h	94.255	+0.037%	$384.8M	$893.6M	75x	as long as short
Bluefin HYPE-PERP	+0.0055%	1h	94.245	+0.027%	$76K	$171K	20x	as long as short
edgeX HYPEUSDC	+0.0058%	4h	94.030	−0.201%	$5.1M	$29.8M	30x	as long as short
OKX HYPE-USDT-SWAPshort	+0.0081%	8h	94.244	+0.025%	$116.3M	$319.7M	50x
Popdex HYPEUSDT	+0.0088%	1h	94.224	+0.004%	$63K	$1.2M	50x	as long as short
Lighter HYPE	+0.0096%	1h	94.309	+0.094%	$19.1M	$58.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.278	+0.062%	$3.1M	$12.1M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	94.231	+0.012%	$401K	$193K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	94.281	+0.065%	$342K	$170K	20x	as long as short
Katana Perps HYPE-USDlong	+0.0100%	8h	94.220	long leg	$24K	$1.6M	10x
Nado HYPE-PERP	+0.0100%	1h	94.228	+0.009%	$6.7M	$44.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.347	+0.135%	$2.06B	$675.0M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.263	+0.045%	$10.2M	$14.6M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.265	+0.048%	$46.7M	$18.2M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	94.263	+0.046%	$228.6M	$101.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.236	+0.017%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.261	+0.044%	$7.7M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.010	−0.222%	$31.6M	$53.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.045	−0.186%	$7.6M	$45.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.037	−0.194%	$340K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.047	−0.184%	$680K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.247	+0.029%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.244	+0.025%	$481K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.325	+0.111%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.244	+0.025%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.120	−0.106%	$205K	$4K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.224	+0.004%	$19.2M	$44.0M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	94.280	+0.064%	$5.0M	$5.5M	50x	as long as short
BloFin HYPE-USDT	+0.0182%	4h	94.242	+0.023%	$17.1M	$12.3M	75x	as long as short
Kalshi KXHYPEPERP	+0.0198%	8h	94.305	+0.090%	$1.9M	$5.1M	2.3x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.390	+0.180%	$31K	$338K	12x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	94.272	+0.055%	$2.8M	$6.7M	20x	as long as short
Reya HYPERUSDPERP	+0.0251%	1h	94.221	+0.002%	$77K	$144K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0157%	1h	94.268	+0.051%	$1.5M	—	100x	as long as short
HTX HYPE-USDT	+0.0436%	4h	94.427	+0.220%	$1.5M	$6.3M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0439%	1h	94.340	+0.127%	$7.5M	$4.7M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0669%	1h	94.333	+0.120%	$21.1M	$29.7M	50x	as long as short