HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0197%/8h= −21.5% APRnext payment −$0.25 per $10,000 · paid last 24h −0.060%

Price spread now: dYdX against Kraken Futures−0.060%7-day average −0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$104as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$790.791% of the position

Long on Kraken Futures Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.248%−$25 on $10k

Price spread, last 4 days (all we have)+0.202%+$20 · spread now −0.060%, 7d avg −0.034%

Together, before fees−0.046%−$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and dYdX is 0.027% cheaper against Kraken Futures than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.034%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_HYPEUSD	93.079	0.0197	pay 0.0025% / 1h	52m 09s	$20.6M	$30.5M	50x
Short	dYdX HYPE-USD	93.023	0	get 0.0000% / 1h	52m 09s	$128K	$29K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.060%Rate

Funding earned: −$41.27
Price spread: −0.060% → −0.034%: −$2.66
Slippage, 4 orders: −$59.1
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$123.04
Costs to cover: 0.791%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 2 min ago; dYdX: 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	1.13 bp	9.9 bp −$10	13.5 bp −$135	19.7 bp −$1,969	69.3 bp −$34.6K
Sell dYdX live order book, 2 min ago	25.44 bp	30.4 bp −$30	72.9 bp −$729	180.1 bp −$18.0K	1151.9 bp −$576.0K

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	−0.0592%	1h	92.832	−0.265%	$194K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0268%	1h	92.881	−0.213%	$22K	$21K	10x	as long as short
Arcus HYPE-USD	−0.0194%	1h	92.978	−0.108%	$1.1M	$3.9M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.986	−0.100%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0062%	4h	92.967	−0.120%	$158K	$659K	20x	as long as short
dYdX HYPE-USDshort	0.0000%	1h	93.023	−0.060%	$128K	$29K	5x
Kalshi KXHYPEPERP	0.0000%	8h	93.064	−0.016%	$1.8M	$5.4M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.022	−0.061%	$22K	$301K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.036	−0.046%	$62K	—	150x	as long as short
Gate HYPE_USDT	+0.0012%	4h	92.998	−0.087%	$44.6M	$53.7M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix HYPE	+0.0026%	1h	92.888	−0.205%	$210K	$1.2M	10x	as long as short
Phemex HYPEUSDT	+0.0037%	8h	92.987	−0.099%	$12.6M	$2.7M	50x	as long as short
Bybit HYPEUSDT	+0.0037%	8h	93.000	−0.085%	$316.4M	$282.3M	75x	as long as short
01 Exchange HYPEUSD	+0.0064%	1h	93.044	−0.037%	$87K	$362K	20x	as long as short
Ondo Perps HYPE-USD.P	+0.0070%	1h	92.920	−0.171%	$697K	$1.1M	10x	as long as short
Bullet HYPE-USD	+0.0079%	1h	93.023	−0.060%	$112K	$578K	20x	as long as short
Bitget HYPEUSDT	+0.0080%	4h	92.984	−0.102%	$225.3M	$99.0M	75x	as long as short
edgeX HYPEUSDC	+0.0081%	4h	92.806	−0.293%	$4.9M	$29.6M	30x	as long as short
Aster HYPEUSDT	+0.0082%	4h	93.027	−0.056%	$8.7M	$36.2M	300x	as long as short
Lighter HYPE	+0.0096%	1h	93.013	−0.070%	$16.1M	$62.3M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.011	−0.073%	$3.1M	$11.6M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.009	−0.075%	$70K	$1.1M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0096%	8h	93.031	−0.052%	$339K	$163K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.990	−0.095%	$39K	$1.7M	10x	as long as short
OKX HYPE-USDT-SWAP	+0.0099%	8h	93.015	−0.069%	$114.0M	$305.0M	50x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.975	−0.112%	$7.5M	$45.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.053	−0.028%	$2.03B	$664.9M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.041	−0.041%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.010	−0.074%	$374.1M	$904.0M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.942	−0.147%	$202K	$13K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.019	−0.064%	$87.9M	$79.9M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.019	−0.064%	$46.2M	$18.4M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	92.987	−0.099%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.012	−0.072%	$7.3M	$11.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.709	−0.398%	$28.4M	$57.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.766	−0.336%	$7.5M	$46.3M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.797	−0.303%	$350K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.967	−0.120%	$668K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.058	−0.023%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.053	−0.028%	$469K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.010	−0.074%	$79K	$168K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.000	−0.084%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.003	−0.081%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.010	−0.074%	$2.0M	$2.0M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.986	−0.099%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.013	−0.071%	$393K	$164K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.060	−0.020%	$4.7M	$5.6M	50x	as long as short
HTX HYPE-USDT	+0.0158%	4h	93.145	+0.071%	$1.4M	$6.3M	75x	as long as short
Kraken Futures PF_HYPEUSDlong	+0.0197%	1h	93.079	long leg	$20.6M	$30.5M	50x
Injective HYPE/USDC PERP	+0.0242%	1h	92.750	−0.353%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0264%	1h	93.017	−0.067%	$79K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	93.029	−0.053%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.994	−0.091%	$16.8M	$11.7M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0449%	1h	93.108	+0.031%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0598%	1h	93.074	−0.005%	$3.2M	$6.4M	20x	as long as short