HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0316%/8h= −34.6% APRnext payment −$0.39 per $10,000 · paid last 24h −0.038%

Price spread now: ApeX Omni against Kraken Futures−0.018%75s7-day average −0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$360.363% of the position

Long on Kraken Futures Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.119%−$12 on $10k

Price spread, last 4 days (all we have)−0.105%−$10 · spread now −0.018%, 7d avg −0.042%

Together, before fees−0.224%−$22 on $10k · with fees, hour by hour

The price spread pays, funding is against you. ApeX Omni is 0.025% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.018% now, against its 7-day average of −0.042%): +$2 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 6 hours. At the pace of the last 7 days (−0.119% in total) that is about 35 hours. The two prices were read 75 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.119% in total (about -6.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.39 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	93.485	0.0416	pay 0.0052% / 1h	31m 53s	$20.9M	$29.6M	50x
Short	ApeX Omni HYPEUSDT	93.469	0.0100	get 0.0013% / 1h	31m 53s	$350K	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni 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 ApeX OmnibpOrdersPrice spread, now −0.018%Rate

Funding earned: −$66.36
Price spread: −0.018% → −0.042%: $2.47
Slippage, 4 orders: −$16.34
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$100.23
Costs to cover: 0.363%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 2 min ago; ApeX Omni: live order book, 2 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	0.80 bp	9.6 bp −$10	12.6 bp −$126	19.3 bp −$1,928	64.6 bp −$32.3K
Sell ApeX Omni live order book, 2 min ago	2.03 bp	8.5 bp −$8	13.4 bp −$134	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	−0.1024%	1h	93.380	−0.113%	$198K	$240K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0190%	1h	93.476	−0.010%	$22K	$21K	10x	as long as short
Bullet HYPE-USD	−0.0094%	1h	93.415	−0.075%	$111K	$579K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0082%	1h	93.400	−0.091%	$703K	$1.2M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.458	−0.029%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0048%	1h	93.437	−0.052%	$86K	$369K	20x	as long as short
Bluefin HYPE-PERP	−0.0026%	1h	93.404	−0.087%	$79K	$156K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0022%	4h	93.390	−0.102%	$145K	$685K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.517	+0.034%	$128K	$28K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.428	−0.061%	$20K	$290K	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit HYPEUSDT	+0.0002%	8h	93.400	−0.091%	$315.2M	$288.0M	75x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.445	−0.044%	$83K	—	150x	as long as short
BingX HYPE-USDT	+0.0002%	4h	93.411	−0.080%	—	$53.5M	—	as long as short
Derive HYPE-PERP	+0.0007%	1h	93.302	−0.196%	$16.2M	$7.5M	10x	as long as short
Phoenix HYPE	+0.0017%	1h	93.482	−0.004%	$209K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0044%	4h	93.415	−0.075%	$225.1M	$99.6M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0076%	8h	93.463	−0.024%	$334K	$161K	20x	as long as short
edgeX HYPEUSDC	+0.0080%	4h	93.460	−0.027%	$5.0M	$30.6M	30x	as long as short
Arcus HYPE-USD	+0.0084%	1h	93.377	−0.116%	$1.0M	$4.0M	10x	as long as short
Phemex HYPEUSDT	+0.0090%	8h	93.429	−0.060%	$12.8M	$2.8M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.412	−0.079%	$16.1M	$64.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.407	−0.084%	$3.1M	$11.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.434	−0.055%	$78K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.460	−0.027%	$21K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.385	−0.107%	$7.4M	$50.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.496	+0.011%	$2.04B	$682.2M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.427	−0.063%	$8.8M	$37.1M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.467	−0.020%	$10.1M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.414	−0.076%	$373.8M	$929.9M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.404	−0.087%	$115.3M	$314.8M	50x	as long as short
Gate HYPE_USDT	+0.0100%	4h	93.405	−0.086%	$48.5M	$55.3M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.404	−0.087%	$90.5M	$84.1M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.418	−0.072%	$46.3M	$18.7M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.424	−0.066%	$7.2M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.339	−0.157%	$28.7M	$56.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.507	+0.023%	$7.5M	$48.3M	10x	as long as short
ApeX Omni HYPEUSDTshort	+0.0100%	1h	93.469	−0.018%	$350K	$1.0M	50x
StandX HYPE-USD	+0.0100%	1h	93.514	+0.031%	$677K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.472	−0.014%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.435	−0.054%	$469K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.476	−0.010%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.404	−0.087%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.551	+0.070%	$1.4M	$6.7M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.438	−0.050%	$216K	$15K	10x	as long as short
Kalshi KXHYPEPERP	+0.0103%	8h	93.514	+0.031%	$1.8M	$5.6M	2.3x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.370	−0.123%	$18.2M	$43.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.406	−0.085%	$395K	$159K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	93.420	−0.070%	$4.7M	$6.1M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0152% / S +0.0022%	1h	93.439	−0.050%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.410	+0.989%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0271%	1h	93.393	−0.099%	$77K	$129K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0306%	1h	93.502	+0.018%	$7.4M	$4.2M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.435	−0.054%	$16.9M	$12.2M	75x	as long as short
Kraken Futures PF_HYPEUSDlong	+0.0416%	1h	93.485	long leg	$20.9M	$29.6M	50x
RISEx HYPE/USDC	+0.0559%	1h	93.464	−0.023%	$3.2M	$6.4M	20x	as long as short