HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0584%/8h= −63.9% APRnext payment −$0.73 per $10,000 · paid last 24h −0.019%

Price spread now: StandX against Kraken Futures−0.161%7-day average −0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$290.287% of the position

Long on Kraken Futures Short on StandX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.086%−$9 on $10k

Price spread, last 4 days (all we have)+0.532%+$53 · spread now −0.161%, 7d avg −0.039%

Together, before fees+0.446%+ Points / potential airdropStandX: Active · farm board+$45 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$18 a day on $10k at the current rate, and StandX is 0.122% cheaper against Kraken Futures than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.039%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.086% in total (about -4.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.73 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	93.553	0.0684	pay 0.0085% / 1h	32m 58s	$20.8M	$29.7M	50x
Short	StandX HYPE-USD	93.403	0.0100	get 0.0013% / 1h	32m 58s	$667K	$2.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

StandX 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 StandXbpOrdersPrice spread, now −0.161%Rate

Funding earned: −$122.63
Price spread: −0.161% → −0.039%: −$12.21
Slippage, 4 orders: −$10.66
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee StandX: 4 bp × 2 orders: −$8
Net: −$163.5
Costs to cover: 0.287%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 1 min ago; StandX: live order book, 1 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, 1 min ago	1.76 bp	8.1 bp −$8	13.0 bp −$130	22.3 bp −$2,234	61.5 bp −$30.7K
Sell StandX live order book, 1 min ago	1.34 bp	5.3 bp −$5	5.6 bp −$56	14.0 bp −$1,399	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	−0.1288%	1h	93.317	−0.252%	$196K	$226K	7x	as long as short
Arcus HYPE-USD	−0.0899%	1h	93.375	−0.191%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0106%	1h	93.320	−0.249%	$699K	$996K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.477	−0.082%	$3K	$331	25x	as long as short
Phemex HYPEUSDT	−0.0073%	8h	93.467	−0.092%	$12.6M	$2.7M	50x	as long as short
Aftermath Perps HYPEUSD	−0.0058%	1h	93.411	−0.152%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0056%	1h	93.511	−0.045%	$85K	$344K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0043%	4h	93.498	−0.059%	$154K	$647K	20x	as long as short
Bullet HYPE-USD	−0.0005%	1h	93.477	−0.082%	$111K	$578K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.478	−0.081%	$128K	$31K	5x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	93.470	−0.089%	$23K	$322K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.505	−0.052%	$62K	—	150x	as long as short
Aster HYPEUSDT	+0.0025%	4h	93.508	−0.048%	$8.8M	$35.5M	300x	as long as short
Phoenix HYPE	+0.0026%	1h	93.393	−0.171%	$213K	$1.2M	10x	as long as short
BingX HYPE-USDT	+0.0026%	4h	93.452	−0.108%	—	$53.0M	—	as long as short
Bybit HYPEUSDT	+0.0032%	8h	93.410	−0.153%	$321.4M	$277.3M	75x	as long as short
Gate HYPE_USDT	+0.0048%	4h	93.514	−0.042%	$44.6M	$54.9M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0077%	8h	93.385	−0.180%	$114.2M	$301.9M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.524	−0.032%	$16.3M	$61.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.512	−0.044%	$3.1M	$11.6M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.493	−0.064%	$69K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.537	−0.018%	$340K	$162K	20x	as long as short
MEXC HYPE_USDT	+0.0098%	4h	93.510	−0.046%	$89.9M	$80.8M	100x	as long as short
edgeX HYPEUSDC	+0.0100%	4h	93.360	−0.206%	$5.1M	$29.7M	30x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.490	−0.068%	$17K	$1.6M	10x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.453	−0.107%	$379.0M	$876.1M	75x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.485	−0.073%	$5.8M	$43.2M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.557	+0.004%	$2.04B	$654.0M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.524	−0.032%	$10.1M	$14.6M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.364	−0.202%	$203K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.515	−0.041%	$46.0M	$18.1M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.407	−0.156%	$225.9M	$96.6M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.444	−0.117%	$7.4M	$10.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.367	−0.199%	$31.1M	$53.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.422	−0.140%	$7.5M	$45.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.349	−0.218%	$339K	$1.0M	50x	as long as short
StandX HYPE-USDshort	+0.0100%	1h	93.403	−0.161%	$667K	$2.6M	20x
Vest HYPE-PERP	+0.0100%	1h	93.521	−0.035%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.525	−0.030%	$472K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.467	−0.092%	$79K	$170K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.466	−0.093%	$16.2M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.540	−0.014%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.500	−0.057%	$2.0M	$1.9M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.383	−0.182%	$18.4M	$43.6M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.486	−0.072%	$398K	$162K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.580	+0.029%	$4.8M	$5.6M	50x	as long as short
HTX HYPE-USDT	+0.0190%	4h	93.650	+0.103%	$1.4M	$6.0M	75x	as long as short
Reya HYPERUSDPERP	+0.0258%	1h	93.484	−0.074%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0278%	8h	93.511	−0.045%	$1.9M	$5.0M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0156%	1h	93.508	−0.049%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.487	−0.071%	$17.0M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0359%	1h	93.583	+0.032%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0510%	1h	93.578	+0.027%	$3.2M	$6.3M	20x	as long as short
Injective HYPE/USDC PERP	+0.0519%	1h	93.370	−0.196%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSDlong	+0.0684%	1h	93.553	long leg	$20.8M	$29.7M	50x