HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0792%/8h= −86.7% APRnext payment −$0.99 per $10,000 · paid last 24h −0.029%

Price spread now: 01 Exchange against Kraken Futures−0.172%7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$330.326% of the position

Long on Kraken Futures Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.063%−$6 on $10k

Price spread, last 3 days (all we have)+0.226%+$23 · spread now −0.172%, 7d avg −0.008%

Together, before fees+0.164%+$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$24 a day on $10k at the current rate, and 01 Exchange is 0.164% cheaper against Kraken Futures than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of −0.008%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.063% in total (about -6.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.99 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	94.005	0.0672	pay 0.0084% / 1h	56m 32s	$21.0M	$29.5M	50x
Short	01 Exchange HYPEUSD	93.843	−0.0120	pay 0.0015% / 1h	56m 32s	$86K	$365K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −0.172%Rate

Funding earned: −$166.26
Price spread: −0.172% → −0.008%: −$16.43
Slippage, 4 orders: −$15.6
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$215.28
Costs to cover: 0.326%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 3 min ago; 01 Exchange: live order book, 18 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	2.18 bp	10.1 bp −$10	13.5 bp −$135	23.2 bp −$2,317	71.8 bp −$35.9K
Sell 01 Exchange live order book, 18 min ago	0.16 bp	6.7 bp −$7	10.2 bp −$102	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	−0.1432%	1h	93.897	−0.115%	$199K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0625%	1h	93.746	−0.276%	$1.2M	$3.8M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0322%	1h	93.973	−0.034%	$22K	$22K	10x	as long as short
dYdX HYPE-USD	−0.0239%	1h	93.914	−0.097%	$128K	$30K	5x	as long as short
Bybit HYPEUSDT	−0.0123%	8h	93.820	−0.197%	$322.8M	$283.6M	75x	as long as short
01 Exchange HYPEUSDshort	−0.0120%	1h	93.843	−0.172%	$86K	$365K	20x
Ondo Perps HYPE-USD.P	−0.0095%	1h	93.830	−0.186%	$705K	$923K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.868	−0.146%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0075%	1h	93.825	−0.192%	$112K	$579K	20x	as long as short
Gate HYPE_USDT	−0.0062%	4h	93.843	−0.172%	$44.6M	$58.7M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Derive HYPE-PERP	−0.0017%	1h	93.847	−0.168%	$16.4M	$7.2M	10x	as long as short
Orderly PERP_HYPE_USDC	−0.0008%	4h	93.936	−0.073%	$169K	$594K	20x	as long as short
Phemex HYPEUSDT	0.0000%	8h	93.937	−0.072%	$12.8M	$2.6M	50x	as long as short
Perpl HYPE	0.0000%	43m	93.879	−0.134%	$23K	$329K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.860	−0.154%	$27K	—	150x	as long as short
Phoenix HYPE	+0.0009%	1h	94.114	+0.116%	$218K	$1.2M	10x	as long as short
Aster HYPEUSDT	+0.0015%	4h	93.847	−0.169%	$8.9M	$36.1M	300x	as long as short
Popdex HYPEUSDT	+0.0040%	1h	93.835	−0.181%	$60K	$1.2M	50x	as long as short
MEXC HYPE_USDT	+0.0042%	4h	93.828	−0.188%	$88.0M	$81.8M	100x	as long as short
Binance HYPEUSDT	+0.0043%	4h	93.844	−0.171%	$383.4M	$897.9M	75x	as long as short
edgeX HYPEUSDC	+0.0054%	4h	93.988	−0.018%	$5.1M	$29.7M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0086%	8h	93.827	−0.189%	$115.8M	$321.6M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.912	−0.099%	$18.9M	$58.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.884	−0.129%	$3.1M	$12.0M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.955	−0.053%	$400K	$241K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.903	−0.109%	$341K	$171K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.860	−0.154%	$42K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.835	−0.180%	$6.6M	$44.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.946	−0.063%	$2.04B	$680.6M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.871	−0.142%	$10.1M	$14.6M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.838	−0.178%	$46.5M	$18.5M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.824	−0.193%	$227.3M	$101.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.833	−0.183%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.913	−0.098%	$7.7M	$10.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.972	−0.035%	$31.4M	$54.2M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.052	+0.050%	$7.6M	$45.4M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.033	+0.030%	$340K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.964	−0.044%	$679K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.895	−0.117%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.872	−0.141%	$471K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.920	−0.090%	$76K	$171K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.970	−0.037%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.905	−0.106%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.944	−0.065%	$205K	$6K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.818	−0.199%	$18.4M	$42.6M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.960	−0.048%	$4.9M	$5.7M	50x	as long as short
Kalshi KXHYPEPERP	+0.0163%	8h	93.986	−0.020%	$1.9M	$5.1M	2.3x	as long as short
BloFin HYPE-USDT	+0.0175%	4h	93.897	−0.115%	$17.0M	$12.5M	75x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.150	+0.154%	$31K	$338K	12x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	93.889	−0.124%	$2.8M	$6.9M	20x	as long as short
HTX HYPE-USDT	+0.0245%	4h	94.110	+0.112%	$1.5M	$7.8M	75x	as long as short
Reya HYPERUSDPERP	+0.0250%	1h	93.820	−0.197%	$78K	$143K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0293%	1h	94.005	0.000%	$7.5M	$4.7M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0157%	1h	93.963	−0.044%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSDlong	+0.0672%	1h	94.005	long leg	$21.0M	$29.5M	50x