HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0063%/8h= +6.9% APRnext payment +$0.08 per $10,000 · paid last 24h −0.037%

Price spread now: Coinbase International against Kraken Futures−0.011%7-day average −0.060% · you buy dearer than you sell

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$360.365% of the position

Long on Kraken Futures Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.229%−$23 on $10k

Price spread, last 4 days (all we have)+0.041%+$4 · spread now −0.011%, 7d avg −0.060%

Together, before fees−0.188%−$19 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Coinbase International is 0.050% dearer against Kraken Futures than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.060%. Mind the row above: over the last 7 days funding on this pair cost −0.229%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_HYPEUSD	95.220	−0.0047	get 0.0006% / 1h	10m 37s	$18.9M	$35.7M	50x
Short	Coinbase International HYPE-PERP-INTX	95.210	0.0016	get 0.0002% / 1h	10m 37s	$4.7M	$5.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.011%Rate

Funding earned: $13.25
Price spread: −0.011% → −0.060%: $4.97
Slippage, 4 orders: −$16.45
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$18.23
Costs to cover: 0.365%
Break-even: 16.6 days

Slippage from Kraken Futures: live order book, 3 min ago; Coinbase International: live order book, 3 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, 3 min ago	1.16 bp	7.9 bp −$8	8.6 bp −$86	15.7 bp −$1,573	60.1 bp −$30.1K
Sell Coinbase International live order book, 3 min ago	3.68 bp	9.3 bp −$9	13.5 bp −$135	32.3 bp −$3,226	doesn't fit

HYPE on 54 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	−0.0856%	1h	95.015	−0.216%	$211K	$265K	7x	as long as short
Bluefin HYPE-PERP	−0.0537%	1h	95.161	−0.062%	$79K	$149K	20x	as long as short
Phemex HYPEUSDT	−0.0267%	8h	95.124	−0.101%	$13.0M	$2.8M	50x	as long as short
Aftermath Perps HYPEUSD	−0.0235%	1h	95.092	−0.135%	$22K	$19K	10x	as long as short
Bullet HYPE-USD	−0.0197%	1h	95.193	−0.028%	$113K	$576K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0137%	1h	95.180	−0.042%	$695K	$1.3M	10x	as long as short
dYdX HYPE-USD	−0.0118%	1h	95.170	−0.053%	$130K	$93K	5x	as long as short
01 Exchange HYPEUSD	−0.0112%	1h	95.174	−0.049%	$92K	$354K	20x	as long as short
Arcus HYPE-USD	−0.0112%	1h	95.129	−0.096%	$1.0M	$3.2M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	95.205	−0.016%	$3K	$331	25x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_HYPEUSDlong	−0.0047%	1h	95.220	long leg	$18.9M	$35.7M	50x
Gate HYPE_USDT	−0.0014%	4h	95.138	−0.086%	$52.9M	$56.8M	75x	as long as short
BingX HYPE-USDT	−0.0012%	4h	95.142	−0.082%	—	$52.7M	—	as long as short
Bybit HYPEUSDT	−0.0010%	8h	95.160	−0.063%	$320.0M	$285.6M	75x	as long as short
Orderly PERP_HYPE_USDC	−0.0004%	4h	95.171	−0.052%	$148K	$670K	20x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	95.234	+0.014%	$1.9M	$5.5M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	95.121	−0.104%	$19K	$273K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	95.210	−0.011%	$86K	—	150x	as long as short
Vest HYPE-PERP	+0.0007%	1h	95.229	+0.009%	—	$126K	5x	as long as short
Phoenix HYPE	+0.0008%	1h	95.142	−0.082%	$212K	$1.2M	10x	as long as short
Coinbase International HYPE-PERP-INTXshort	+0.0016%	1h	95.210	−0.011%	$4.7M	$5.8M	50x
OKX HYPE-USDT-SWAP	+0.0035%	8h	95.149	−0.075%	$118.5M	$323.2M	50x	as long as short
Bitget HYPEUSDT	+0.0042%	4h	95.133	−0.092%	$228.4M	$94.4M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0049%	8h	95.188	−0.034%	$340K	$38K	20x	as long as short
Backpack HYPE_USDC_PERP	+0.0060%	1h	95.186	−0.036%	$7.6M	$10.1M	20x	as long as short
Aster HYPEUSDT	+0.0093%	4h	95.148	−0.076%	$9.0M	$36.5M	300x	as long as short
edgeX HYPEUSDC	+0.0094%	4h	95.053	−0.176%	$5.1M	$31.1M	30x	as long as short
Lighter HYPE	+0.0096%	1h	95.160	−0.063%	$16.3M	$64.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	95.159	−0.064%	$3.2M	$10.4M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	95.172	−0.051%	$219K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	95.120	−0.105%	$40K	$1.5M	10x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	95.214	−0.007%	$2.1M	$1.9M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	95.155	−0.068%	$6.2M	$54.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	95.289	+0.072%	$2.10B	$682.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	95.181	−0.042%	$10.3M	$14.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	95.158	−0.065%	$382.6M	$912.2M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	95.126	−0.098%	$222K	$14K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	95.158	−0.065%	$98.2M	$89.2M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	95.161	−0.062%	$47.5M	$18.5M	75x	as long as short
Variational Omni HYPE	+0.0100%	8h	95.189	−0.032%	$29.9M	$56.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	95.088	−0.139%	$7.7M	$44.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	95.052	−0.177%	$348K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	95.148	−0.076%	$692K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	95.163	−0.060%	$500K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	95.140	−0.084%	$32K	$1.5M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.315	+0.100%	$1.4M	$6.7M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	95.111	−0.115%	$18.2M	$42.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	95.099	−0.128%	$402K	$136K	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0128%	1h	95.290	+0.073%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	95.183	−0.039%	$3.2M	$6.3M	20x	as long as short
Injective HYPE/USDC PERP	+0.0153%	1h	95.380	+0.168%	$31K	$340K	12x	as long as short
Reya HYPERUSDPERP	+0.0271%	1h	95.196	−0.025%	$83K	$95K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0155%	1h	95.237	+0.017%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	95.199	−0.022%	$17.2M	$12.3M	75x	as long as short