HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0468%/8h= −51.3% APRnext payment −$0.59 per $10,000 · paid last 24h +0.010%

Price spread now: Aevo against Kraken Futures−0.103%7-day average −0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$460.459% of the position

Long on Kraken Futures Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days−0.038%−$4 on $10k

Price spread, last 3 days (all we have)+0.073%+$7 · spread now −0.103%, 7d avg −0.031%

Together, before fees+0.035%+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Aevo is 0.072% cheaper against Kraken Futures than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.031%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.038% in total (about -2.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.59 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	Kraken Futures PF_HYPEUSD	93.707	0.0572	pay 0.0072% / 1h	26m 44s	$19.2M	$26.0M	50x
Short	Aevo HYPE-PERP	93.611	0.0104	get 0.0013% / 1h	26m 44s	$398K	$318K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Kraken Futures. 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 Kraken FuturesbpFee AevobpOrdersPrice spread, now −0.103%Rate

Funding earned: −$98.32
Price spread: −0.103% → −0.031%: −$7.2
Slippage, 4 orders: −$19.92
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$151.44
Costs to cover: 0.459%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 2 min ago; Aevo: live order book, 62 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 Kraken Futures live order book, 2 min ago	1.34 bp	7.7 bp −$8	16.2 bp −$162	24.2 bp −$2,420	77.1 bp −$38.5K
Sell Aevo live order book, 62 min ago	6.65 bp	15.0 bp −$15	17.6 bp −$176	20.3 bp −$2,035	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	−0.1016%	1h	93.493	−0.228%	$197K	$233K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0279%	1h	93.540	−0.178%	$22K	$22K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0243%	1h	93.570	−0.146%	$702K	$939K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.557	−0.160%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0072%	1h	93.688	−0.020%	$90K	$349K	20x	as long as short
Bullet HYPE-USD	−0.0037%	1h	93.584	−0.131%	$112K	$583K	20x	as long as short
Derive HYPE-PERP	−0.0009%	1h	93.553	−0.164%	$16.4M	$7.1M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.644	−0.067%	$127K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.583	−0.132%	$23K	$337K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.631	−0.081%	$20K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0020%	4h	93.648	−0.063%	$9.0M	$35.8M	300x	as long as short
Gate HYPE_USDT	+0.0032%	4h	93.653	−0.057%	$44.0M	$56.9M	75x	as long as short
Bybit HYPEUSDT	+0.0036%	8h	93.627	−0.085%	$326.1M	$287.0M	75x	as long as short
Orderly PERP_HYPE_USDC	+0.0067%	4h	93.598	−0.116%	$175K	$535K	20x	as long as short
Phoenix HYPE	+0.0068%	1h	93.590	−0.125%	$216K	$1.2M	10x	as long as short
Popdex HYPEUSDT	+0.0072%	1h	93.561	−0.156%	$57K	$1.2M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.709	+0.003%	$18.6M	$59.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.672	−0.037%	$3.1M	$12.3M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0100%	8h	93.676	−0.032%	$340K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.640	−0.071%	$40K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.559	−0.157%	$6.0M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.690	−0.018%	$2.04B	$669.7M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.673	−0.037%	$10.0M	$14.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.684	−0.024%	$386.5M	$887.6M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.626	−0.086%	$115.0M	$315.6M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.613	−0.100%	$1.2M	$4.0M	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.674	−0.035%	$93.7M	$82.2M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.677	−0.032%	$46.5M	$18.7M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.665	−0.045%	$227.5M	$102.2M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.650	−0.061%	—	$54.2M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.644	−0.067%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.541	−0.177%	$28.9M	$49.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.580	−0.135%	$7.5M	$45.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.558	−0.159%	$406K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.586	−0.129%	$677K	$2.4M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.595	−0.120%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.614	−0.099%	$494K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.635	−0.077%	$76K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.601	−0.113%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.596	−0.118%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.601	−0.113%	$12.8M	$2.6M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.556	−0.160%	$204K	$12K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.624	−0.088%	$18.3M	$41.1M	50x	as long as short
Aevo HYPE-PERPshort	+0.0104%	1h	93.611	−0.103%	$398K	$318K	20x
edgeX HYPEUSDC	+0.0116%	4h	93.544	−0.174%	$5.1M	$29.6M	30x	as long as short
Kalshi KXHYPEPERP	+0.0127%	8h	93.658	−0.052%	$1.9M	$5.3M	2.3x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0134%	1h	93.693	−0.015%	$7.4M	$4.6M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.640	−0.071%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0245%	1h	93.563	−0.153%	$78K	$158K	15x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.500	−0.221%	$30K	$291K	12x	as long as short
HTX HYPE-USDT	+0.0318%	4h	93.707	0.000%	$1.5M	$7.6M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0164%	1h	93.624	−0.089%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.597	−0.117%	$17.1M	$12.5M	75x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.702	−0.005%	$2.8M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSDlong	+0.0572%	1h	93.707	long leg	$19.2M	$26.0M	50x