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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 08:00 UTC−0.0009%/8h= −1.0% APRpaid last 24h +0.001%
Price spread now: Phemex against MEXC+0.009%50s7-day average +0.001% · you sell dearer than you buy
Net, funding: paid 7d − costs−$40as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$410.412% of the position
Long on MEXCShort on Phemex
What this pair did over the last
the charts below follow
Funding, last 7 days+0.009%+$1 on $10k
Price spread, last 4 days (all we have)−0.030%−$3 · spread now +0.009%, 7d avg +0.001%
Together, before fees−0.022%−$2 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.001%, so right now this pair is about funding alone: $0 a day on $10k at the current rate. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongMEXC HYPE_USDT93.3740.0100pay 0.0050% / 4h1h 34m$89.3M$83.9M100x
ShortPhemex HYPEUSDT93.3820.0091get 0.0091% / 8h1h 34m$12.7M$2.8M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phemex against MEXC. 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

Funding earned
−$1.94
Price spread: +0.009% → +0.001%
$0.77
Slippage, 4 orders
−$25.24
Fee MEXC: 2 bp × 2 orders
−$4
Fee Phemex: 6 bp × 2 orders
−$12
Net
−$42.41
Costs to cover
0.412%
Break-even
never at this rate
Slippage from MEXC: live order book, 5 min ago; Phemex: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy MEXC live order book, 5 min ago0.05 bp2.1 bp −$22.3 bp −$2311.4 bp −$1,14440.4 bp −$20.2K
Sell Phemex live order book, 5 min ago2.03 bp17.1 bp −$1737.2 bp −$372doesn't fitdoesn't fit

HYPE on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-P−0.1040%1h93.327−0.051%$198K$240K7xas long as short
Aftermath Perps HYPEUSD−0.0185%1h93.490+0.124%$22K$21K10xas long as short
Ondo Perps HYPE-USD.P−0.0088%1h93.330−0.047%$703K$1.2M10xas long as short
Bullet HYPE-USD−0.0083%1h93.356−0.020%$110K$579K20xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.362−0.013%$3K$33125xas long as short
01 Exchange HYPEUSD−0.0048%1h93.405+0.033%$86K$369K20xas long as short
Bluefin HYPE-PERP−0.0033%1h93.387+0.014%$79K$155K20xas long as short
Orderly PERP_HYPE_USDC−0.0021%4h93.357−0.018%$145K$685K20xas long as short
dYdX HYPE-USD0.0000%1h93.345−0.031%$128K$28K5xas long as short
Kalshi KXHYPEPERP0.0000%8h93.442+0.073%$1.8M$5.6M2.3xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Perpl HYPE0.0000%43m93.338−0.039%$20K$289K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0001%1h93.368−0.007%$83K—150xas long as short
BingX HYPE-USDT+0.0002%4h93.368−0.006%—$53.6M—as long as short
Bybit HYPEUSDT+0.0002%8h93.360−0.015%$315.0M$287.9M75xas long as short
Derive HYPE-PERP+0.0007%1h93.302−0.077%$16.2M$7.5M10xas long as short
Phoenix HYPE+0.0017%1h93.482+0.116%$209K$1.1M10xas long as short
Bitget HYPEUSDT+0.0042%4h93.371−0.003%$225.0M$99.8M75xas long as short
Paradex HYPE-USD-PERP+0.0076%8h93.425+0.054%$334K$161K20xas long as short
edgeX HYPEUSDC+0.0080%4h93.460+0.092%$5.0M$30.6M30xas long as short
Arcus HYPE-USD+0.0084%1h93.364−0.011%$1.0M$4.0M10xas long as short
Popdex HYPEUSDT+0.0088%1h93.3740.000%$80K$1.2M50xas long as short
Phemex HYPEUSDTshort+0.0091%8h93.382+0.009%$12.7M$2.8M50x
Lighter HYPE+0.0096%1h93.397+0.025%$16.1M$63.9M20xas long as short
Lighter RH HYPE+0.0096%1h93.395+0.022%$3.1M$11.1M20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.350−0.026%$21K$1.7M10xas long as short
Nado HYPE-PERP+0.0100%1h93.360−0.014%$7.4M$50.9M10xas long as short
Hyperliquid HYPE+0.0100%1h93.446+0.077%$2.04B$681.6M10xas long as short
Aster HYPEUSDT+0.0100%4h93.393+0.020%$8.8M$37.1M300xas long as short
Pacifica HYPE+0.0100%1h93.420+0.049%$10.1M$15.4M20xas long as short
Binance HYPEUSDT+0.0100%4h93.386+0.013%$373.9M$930.2M75xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.385+0.012%$115.3M$314.7M50xas long as short
Gate HYPE_USDT+0.0100%4h93.372−0.002%$48.4M$55.3M75xas long as short
MEXC HYPE_USDTlong+0.0100%4h93.374long leg$89.3M$83.9M100x
KuCoin HYPEUSDTM+0.0100%4h93.373−0.001%$46.2M$18.7M75xas long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.387+0.014%$7.2M$10.6M20xas long as short
Variational Omni HYPE+0.0100%8h93.339−0.038%$28.7M$56.3M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.507+0.142%$7.5M$48.3M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.469+0.102%$350K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.396+0.024%$676K$2.7M20xas long as short
Vest HYPE-PERP+0.0100%1h93.436+0.067%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.394+0.021%$469K$2.8M20xas long as short
SunX HYPE-USDT+0.0100%4h93.385+0.012%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.344−0.032%$2.0M$1.9M10xas long as short
HTX HYPE-USDT+0.0100%4h93.504+0.139%$1.4M$6.7M75xas long as short
Bulk HYPE-USD+0.0100%1h93.507+0.143%$216K$15K10xas long as short
Extended HYPE-USD+0.0104%1h93.349−0.027%$18.2M$43.2M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.384+0.011%$395K$159K20xas long as short
Coinbase International HYPE-PERP-INTX+0.0120%1h93.440+0.071%$4.7M$6.1M50xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0152% / S +0.0022%1h93.385+0.011%$1.4M—100xas long as short
Injective HYPE/USDC PERP+0.0205%1h93.290−0.090%$30K$339K12xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0264%1h93.435+0.065%$7.4M$4.2M50xas long as short
Reya HYPERUSDPERP+0.0271%1h93.348−0.028%$77K$129K15xas long as short
BloFin HYPE-USDT+0.0340%4h93.358−0.017%$16.9M$12.2M75xas long as short
Kraken Futures PF_HYPEUSD+0.0416%1h93.416+0.045%$20.8M$29.6M50xas long as short
RISEx HYPE/USDC+0.0559%1h93.421+0.050%$3.2M$6.4M20xas long as short