HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0314%/8h= −34.4% APRnext payment −$0.39 per $10,000 · paid last 24h −0.060%

Price spread now: Ondo Perps against Kraken Futures−0.155%7-day average −0.121% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Kraken Futures Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.236%−$24 on $10k

Price spread, last 4 days (all we have)+0.131%+$13 · spread now −0.155%, 7d avg −0.121%

Together, before fees−0.105%+ Points / potential airdropOndo Perps: Active · farm board−$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Ondo Perps is 0.033% 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 −0.121%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_HYPEUSD	92.343	0.0333	pay 0.0042% / 1h	44m 17s	$20.5M	$30.4M	50x
Short	Ondo Perps HYPE-USD.P	92.200	0.0019	get 0.0002% / 1h	44m 17s	$696K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.155%Rate

Funding earned: −$65.95
Price spread: −0.155% → −0.121%: −$3.35
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$84.3
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 5 min ago; Ondo Perps: no order-book sample. 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 Kraken Futures live order book, 5 min ago	1.14 bp	11.9 bp −$12	15.3 bp −$153	24.6 bp −$2,458	76.0 bp −$38.0K
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo 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
Arcus HYPE-USD	−0.0948%	1h	92.241	−0.110%	$1.2M	$3.8M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0568%	1h	92.240	−0.111%	$193K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0155%	1h	92.323	−0.022%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0128%	1h	92.288	−0.059%	$85K	$353K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.202	−0.153%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0070%	4h	92.240	−0.111%	$157K	$663K	20x	as long as short
Bullet HYPE-USD	−0.0060%	1h	92.260	−0.090%	$110K	$579K	20x	as long as short
Aster HYPEUSDT	−0.0012%	4h	92.258	−0.092%	$8.7M	$36.4M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.238	−0.114%	$126K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.292	−0.055%	$22K	$310K	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.278	−0.070%	$61K	—	150x	as long as short
Ondo Perps HYPE-USD.Pshort	+0.0019%	1h	92.200	−0.155%	$696K	$1.1M	10x
BingX HYPE-USDT	+0.0030%	4h	92.298	−0.049%	—	$53.3M	—	as long as short
Phoenix HYPE	+0.0043%	1h	92.430	+0.094%	$209K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0047%	8h	92.300	−0.046%	$315.8M	$281.0M	75x	as long as short
Gate HYPE_USDT	+0.0052%	4h	92.273	−0.076%	$44.3M	$54.7M	75x	as long as short
Derive HYPE-PERP	+0.0060%	1h	92.227	−0.125%	$16.0M	$7.5M	10x	as long as short
Phemex HYPEUSDT	+0.0061%	8h	92.305	−0.041%	$12.5M	$2.7M	50x	as long as short
MEXC HYPE_USDT	+0.0074%	4h	92.311	−0.035%	$87.1M	$80.4M	100x	as long as short
Binance HYPEUSDT	+0.0075%	4h	92.302	−0.044%	$370.0M	$898.6M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0076%	8h	92.305	−0.041%	$112.8M	$301.4M	50x	as long as short
edgeX HYPEUSDC	+0.0078%	4h	92.205	−0.150%	$4.9M	$29.5M	30x	as long as short
Popdex HYPEUSDT	+0.0088%	1h	92.293	−0.054%	$67K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0091%	8h	92.292	−0.055%	$338K	$163K	20x	as long as short
ApeX Omni HYPEUSDT	+0.0094%	1h	92.216	−0.137%	$337K	$1.0M	50x	as long as short
Lighter HYPE	+0.0096%	1h	92.273	−0.075%	$16.0M	$62.3M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.294	−0.053%	$3.1M	$11.7M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	92.257	−0.094%	$390K	$164K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.260	−0.090%	$23K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.296	−0.051%	$5.8M	$43.2M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.343	0.000%	$2.01B	$664.6M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.285	−0.063%	$10.0M	$15.0M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.245	−0.106%	$201K	$13K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.274	−0.075%	$45.8M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.303	−0.043%	$223.9M	$98.3M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.290	−0.057%	$7.3M	$10.2M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.158	−0.200%	$28.3M	$57.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.327	−0.017%	$7.5M	$45.9M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.228	−0.124%	$662K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.321	−0.023%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.304	−0.042%	$475K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.340	−0.003%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.273	−0.076%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.455	+0.121%	$1.4M	$6.2M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.241	−0.110%	$18.1M	$43.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	92.170	−0.187%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.370	+0.029%	$4.7M	$5.5M	50x	as long as short
Bluefin HYPE-PERP	+0.0206%	1h	92.230	−0.122%	$78K	$169K	20x	as long as short
Kalshi KXHYPEPERP	+0.0259%	8h	92.294	−0.053%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0261%	1h	92.317	−0.028%	$78K	$140K	15x	as long as short
BloFin HYPE-USDT	+0.0299%	4h	92.165	−0.193%	$16.7M	$11.5M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0329% / S −0.0153%	1h	92.284	−0.064%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSDlong	+0.0333%	1h	92.343	long leg	$20.5M	$30.4M	50x
Deribit HYPE_USDC-PERPETUAL	+0.0617%	1h	92.362	+0.021%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.361	+0.020%	$3.1M	$6.4M	20x	as long as short