Funding you earn now, next payment 08:00 UTC−0.0074%/8h= −8.1% APRnext payment −$0.74 per $10,000 · paid last 24h −0.007%
Price spread now: Phemex against Katana Perps−0.065%7-day average +0.028% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)+0.008%+$1 on $10k
+Price spread, last 4 days (all we have)−0.002%$0 · spread now −0.065%, 7d avg +0.028%
=Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Phemex is 0.093% cheaper against Katana Perps than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.028%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Katana Perps HYPE-USD | 93.510 | 0.0099 | pay 0.0099% / 8h | 2h 53m | $28K | $1.7M | 10x |
| Short | Phemex HYPEUSDT | 93.449 | 0.0025 | get 0.0025% / 8h | 2h 53m | $12.6M | $2.7M | 50x |
Katana Perps HYPE-USD
Phemex HYPEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$15.59
- Price spread: −0.065% → +0.028%
- −$9.28
- Slippage, 4 orders
- no order book: not counted
- Fee Katana Perps: 1.9 bp × 2 orders
- −$3.8
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$40.67
- Costs to cover
- 0.158%
- Break-even
- never at this rate
Slippage unknown: Katana Perps: no order-book sample; Phemex: live order book, 5 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 Phemex live order book, 5 min ago | 5.56 bp | 15.4 bp −$15 | 34.8 bp −$348 | doesn't fit | 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 | −0.1896% | 1h | 93.264 | −0.263% | $196K | $232K | 7x | as long as short |
| Aftermath Perps HYPEUSD | −0.0369% | 1h | 93.468 | −0.045% | $22K | $21K | 10x | as long as short |
| Bullet HYPE-USD | −0.0131% | 1h | 93.559 | +0.052% | $112K | $578K | 20x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 93.504 | −0.006% | $3K | $331 | 25x | as long as short |
| 01 Exchange HYPEUSD | −0.0040% | 1h | 93.543 | +0.035% | $88K | $365K | 20x | as long as short |
| Orderly PERP_HYPE_USDC | −0.0035% | 4h | 93.401 | −0.117% | $146K | $663K | 20x | as long as short |
| Ondo Perps HYPE-USD.P | −0.0031% | 1h | 93.540 | +0.032% | $705K | $1.2M | 10x | as long as short |
| dYdX HYPE-USD | 0.0000% | 1h | 93.453 | −0.061% | $128K | $29K | 5x | as long as short |
| Perpl HYPE | 0.0000% | 43m | 93.518 | +0.009% | $22K | $290K | 10x | as long as short |
| gTrade (Gains Network) HYPE/USD | L +0.0002% / S −0.0002% | 1h | 93.580 | +0.075% | $62K | — | 150x | as long as short |
Hibachi HYPE/USDT-P
Aftermath Perps HYPEUSD
Bullet HYPE-USD
Hotstuff HYPE-PERP
01 Exchange HYPEUSD
Orderly PERP_HYPE_USDC
Ondo Perps HYPE-USD.P
dYdX HYPE-USD
Perpl HYPE
gTrade (Gains Network) HYPE/USDShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Arcus HYPE-USD | +0.0011% | 1h | 93.495 | −0.016% | $1.0M | $3.9M | 10x | as long as short |
| Bitget HYPEUSDT | +0.0022% | 4h | 93.566 | +0.060% | $226.4M | $99.1M | 75x | as long as short |
| Bybit HYPEUSDT | +0.0024% | 8h | 93.530 | +0.021% | $318.1M | $283.6M | 75x | as long as short |
| Phemex HYPEUSDTshort | +0.0025% | 8h | 93.449 | −0.065% | $12.6M | $2.7M | 50x | |
| Phoenix HYPE | +0.0026% | 1h | 93.546 | +0.038% | $209K | $1.2M | 10x | as long as short |
| Bluefin HYPE-PERP | +0.0058% | 1h | 93.409 | −0.108% | $79K | $167K | 20x | as long as short |
| edgeX HYPEUSDC | +0.0094% | 4h | 93.441 | −0.073% | $5.0M | $29.9M | 30x | as long as short |
| Paradex HYPE-USD-PERP | +0.0095% | 8h | 93.562 | +0.056% | $340K | $162K | 20x | as long as short |
| Lighter HYPE | +0.0096% | 1h | 93.522 | +0.013% | $16.2M | $62.9M | 20x | as long as short |
| Lighter RH HYPE | +0.0096% | 1h | 93.516 | +0.006% | $3.1M | $11.4M | 20x | as long as short |
| Popdex HYPEUSDT | +0.0096% | 1h | 93.528 | +0.019% | $77K | $1.1M | 50x | as long as short |
| Katana Perps HYPE-USDlong | +0.0099% | 8h | 93.510 | long leg | $28K | $1.7M | 10x | |
| Nado HYPE-PERP | +0.0100% | 1h | 93.544 | +0.037% | $7.6M | $48.1M | 10x | as long as short |
| Hyperliquid HYPE | +0.0100% | 1h | 93.581 | +0.076% | $2.04B | $665.3M | 10x | as long as short |
| Aster HYPEUSDT | +0.0100% | 4h | 93.536 | +0.027% | $8.7M | $36.4M | 300x | as long as short |
| Pacifica HYPE | +0.0100% | 1h | 93.541 | +0.033% | $10.1M | $15.3M | 20x | as long as short |
| Binance HYPEUSDT | +0.0100% | 4h | 93.541 | +0.033% | $375.1M | $910.4M | 75x | as long as short |
| OKX HYPE-USDT-SWAP | +0.0100% | 8h | 93.540 | +0.032% | $114.9M | $308.5M | 50x | as long as short |
| Bulk HYPE-USD | +0.0100% | 1h | 93.328 | −0.195% | $203K | $3K | 10x | as long as short |
| Gate HYPE_USDT | +0.0100% | 4h | 93.513 | +0.003% | $46.3M | $53.8M | 75x | as long as short |
| MEXC HYPE_USDT | +0.0100% | 4h | 93.567 | +0.061% | $92.2M | $80.1M | 100x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 93.576 | +0.071% | $46.7M | $18.7M | 75x | as long as short |
| BingX HYPE-USDT | +0.0100% | 4h | 93.560 | +0.053% | — | $53.9M | — | as long as short |
| Backpack HYPE_USDC_PERP | +0.0100% | 1h | 93.440 | −0.075% | $7.3M | $11.1M | 20x | as long as short |
| Variational Omni HYPE | +0.0100% | 8h | 93.529 | +0.020% | $28.7M | $56.9M | — | as long as short |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 93.637 | +0.136% | $7.6M | $47.1M | 10x | as long as short |
| ApeX Omni HYPEUSDT | +0.0100% | 1h | 93.532 | +0.024% | $343K | $1.0M | 50x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 93.435 | −0.080% | $668K | $2.9M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 93.564 | +0.058% | — | $243K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 93.576 | +0.071% | $490K | $2.7M | 20x | as long as short |
| Derive HYPE-PERP | +0.0100% | 1h | 93.399 | −0.119% | $16.1M | $7.5M | 10x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 93.382 | −0.137% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 93.435 | −0.080% | $2.0M | $1.9M | 10x | as long as short |
| HTX HYPE-USDT | +0.0100% | 4h | 93.580 | +0.075% | $1.4M | $6.4M | 75x | as long as short |
| Extended HYPE-USD | +0.0104% | 1h | 93.502 | −0.008% | $18.1M | $43.2M | 50x | as long as short |
| Aevo HYPE-PERP | +0.0104% | 1h | 93.409 | −0.108% | $395K | $161K | 20x | as long as short |
| Injective HYPE/USDC PERP | +0.0122% | 1h | 93.470 | −0.043% | $30K | $339K | 12x | as long as short |
| Kalshi KXHYPEPERP | +0.0133% | 8h | 93.420 | −0.096% | $1.8M | $5.6M | 2.3x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0144% | 1h | 93.470 | −0.043% | $4.8M | $5.6M | 50x | as long as short |
| Reya HYPERUSDPERP | +0.0267% | 1h | 93.560 | +0.053% | $80K | $131K | 15x | as long as short |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0332% / S −0.0154% | 1h | 93.576 | +0.071% | $1.4M | — | 100x | as long as short |
| BloFin HYPE-USDT | +0.0340% | 4h | 93.441 | −0.074% | $16.9M | $11.9M | 75x | as long as short |
| Kraken Futures PF_HYPEUSD | +0.0341% | 1h | 93.508 | −0.002% | $20.8M | $29.6M | 50x | as long as short |
| Deribit HYPE_USDC-PERPETUAL | +0.0392% | 1h | 93.518 | +0.009% | $7.5M | $4.0M | 50x | as long as short |
| RISEx HYPE/USDC | +0.0527% | 1h | 93.593 | +0.089% | $3.2M | $6.3M | 20x | as long as short |
Arcus HYPE-USD
Bitget HYPEUSDT
Bybit HYPEUSDT
Phoenix HYPE
Bluefin HYPE-PERP
edgeX HYPEUSDC
Paradex HYPE-USD-PERP
Lighter HYPE
Lighter RH HYPE
Popdex HYPEUSDT
Nado HYPE-PERP
Hyperliquid HYPE
Aster HYPEUSDT
Pacifica HYPE
Binance HYPEUSDT
OKX HYPE-USDT-SWAP
Bulk HYPE-USD
Gate HYPE_USDT
MEXC HYPE_USDT
KuCoin HYPEUSDTM
BingX HYPE-USDT
Backpack HYPE_USDC_PERP
Variational Omni HYPE
GRVT HYPE_USDT_Perp
ApeX Omni HYPEUSDT
StandX HYPE-USD
Vest HYPE-PERP
Polymarket Perps HYPE-USD
Derive HYPE-PERP
SunX HYPE-USDT
SoDEX HYPE-USD
HTX HYPE-USDT
Extended HYPE-USD
Aevo HYPE-PERP
Injective HYPE/USDC PERP
Kalshi KXHYPEPERP
Coinbase International HYPE-PERP-INTX
Reya HYPERUSDPERP
GMX HYPE/USD [WBTC.b-USDC]
BloFin HYPE-USDT
Kraken Futures PF_HYPEUSD
Deribit HYPE_USDC-PERPETUAL
RISEx HYPE/USDC