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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 22:00 UTC−0.0056%/8h= −6.1% APRpaid last 24h +0.024%
Price spread now: Phoenix against MEXC+0.254%7-day average +0.098% · you sell dearer than you buy
Net, funding: paid 7d − costs+$10as in the Funding arb table
Net, price: spread back to 7d avg − costs−$2as in the Price arb table
costs, in and out, $10k−$180.179% of the position
Long on MEXCShort on Phoenix
What this pair did over the last
the charts below follow
Funding, last 7 days+0.281%+$28 on $10k
Price spread, last 7 days−0.141%−$14 · spread now +0.254%, 7d avg +0.098%
Together, before fees+0.140%+$14 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Phoenix is 0.157% dearer against MEXC than usual: you sell high and buy low (spread +0.254% now, against its 7-day average of +0.098%): +$16 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 9.4 days. Mind the row above: over the last 7 days funding on this pair paid +0.281%, so the current rate has only just turned against you.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongMEXC HYPE_USDT93.1370.0090pay 0.0045% / 4h1h 37m$89.8M$81.8M100x
ShortPhoenix HYPE93.3740.0034get 0.0004% / 1h37m 34s$214K$1.2M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phoenix 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
−$11.7
Price spread: +0.254% → +0.098%
$15.67
Slippage, 4 orders
−$6.87
Fee MEXC: 2 bp × 2 orders
−$4
Fee Phoenix: 3.5 bp × 2 orders
−$7
Net
−$13.89
Costs to cover
0.179%
Break-even
never at this rate
Slippage from MEXC: live order book, 1 min ago; Phoenix: live order book, 1 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, 1 min ago1.13 bp3.1 bp −$34.2 bp −$4212.3 bp −$1,23140.8 bp −$20.4K
Sell Phoenix live order book, 1 min ago1.18 bp5.7 bp −$69.9 bp −$99132.4 bp −$13.2Kdoesn'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
Aftermath Perps HYPEUSD−0.0370%1h93.224+0.094%$22K$22K10xas long as short
Hibachi HYPE/USDT-P−0.0184%1h93.205+0.073%$197K$230K7xas long as short
Arcus HYPE-USD−0.0131%1h93.101−0.039%$1.2M$4.0M10xas long as short
Ondo Perps HYPE-USD.P−0.0103%1h93.150+0.014%$700K$924K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.161+0.026%$3K$33125xas long as short
01 Exchange HYPEUSD−0.0016%1h93.125−0.013%$90K$361K20xas long as short
dYdX HYPE-USD0.0000%1h93.189+0.056%$127K$32K5xas long as short
Popdex HYPEUSDT0.0000%1h93.125−0.013%$58K$1.2M50xas long as short
Perpl HYPE0.0000%43m93.144+0.008%$23K$331K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0001%1h93.269+0.141%$20K—150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster HYPEUSDT+0.0008%4h93.142+0.005%$8.9M$36.0M300xas long as short
Bybit HYPEUSDT+0.0027%8h93.111−0.028%$323.2M$286.8M75xas long as short
Derive HYPE-PERP+0.0028%1h93.203+0.071%$16.3M$7.1M10xas long as short
Orderly PERP_HYPE_USDC+0.0034%4h93.240+0.111%$171K$519K20xas long as short
Phoenix HYPEshort+0.0034%1h93.374+0.254%$214K$1.2M10x
Bullet HYPE-USD+0.0035%1h93.106−0.033%$111K$579K20xas long as short
Gate HYPE_USDT+0.0038%4h93.134−0.003%$43.8M$57.9M75xas long as short
Binance HYPEUSDT+0.0089%4h93.122−0.016%$382.8M$892.5M75xas long as short
MEXC HYPE_USDTlong+0.0090%4h93.137long leg$89.8M$81.8M100x
Lighter HYPE+0.0096%1h93.189+0.056%$18.5M$58.8M20xas long as short
Lighter RH HYPE+0.0096%1h93.168+0.033%$3.1M$12.1M20xas long as short
Paradex HYPE-USD-PERP+0.0098%8h93.143+0.006%$338K$170K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.150+0.014%$40K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.120−0.019%$5.9M$44.0M10xas long as short
Hyperliquid HYPE+0.0100%1h93.169+0.034%$2.02B$670.1M10xas long as short
Pacifica HYPE+0.0100%1h93.153+0.017%$10.0M$14.3M20xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.101−0.039%$113.8M$313.5M50xas long as short
Bulk HYPE-USD+0.0100%1h93.390+0.272%$204K$10K10xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.167+0.032%$47.2M$18.9M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.123−0.015%$225.7M$102.8M75xas long as short
BingX HYPE-USDT+0.0100%4h93.1370.000%—$53.8M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.202+0.070%$7.8M$11.2M20xas long as short
Variational Omni HYPE+0.0100%8h93.354+0.233%$29.0M$50.5M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.268+0.140%$7.5M$46.0M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.246+0.117%$412K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.210+0.078%$674K$2.5M20xas long as short
Vest HYPE-PERP+0.0100%1h93.183+0.049%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.158+0.023%$493K$2.5M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.255+0.127%$76K$167K20xas long as short
SunX HYPE-USDT+0.0100%4h93.239+0.110%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.198+0.065%$2.0M$2.0M10xas long as short
Phemex HYPEUSDT+0.0100%8h93.234+0.104%$12.7M$2.6M50xas long as short
Extended HYPE-USD+0.0104%1h93.122−0.016%$18.2M$42.1M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.180+0.046%$396K$318K20xas long as short
edgeX HYPEUSDC+0.0106%4h93.228+0.098%$5.1M$29.6M30xas long as short
Kalshi KXHYPEPERP+0.0108%8h93.288+0.162%$1.9M$5.3M2.3xas long as short
Coinbase International HYPE-PERP-INTX+0.0176%1h93.310+0.186%$4.9M$5.7M50xas long as short
Injective HYPE/USDC PERP+0.0239%1h93.150+0.014%$30K$338K12xas long as short
Reya HYPERUSDPERP+0.0247%1h93.100−0.040%$78K$158K15xas long as short
HTX HYPE-USDT+0.0262%4h93.366+0.246%$1.5M$7.7M75xas long as short
RISEx HYPE/USDC+0.0280%1h93.204+0.072%$2.8M$6.8M20xas long as short
BloFin HYPE-USDT+0.0336%4h93.252+0.123%$16.9M$12.5M75xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0340% / S −0.0159%1h93.264+0.136%$1.5M—100xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0351%1h93.302+0.177%$7.4M$4.6M50xas long as short
Kraken Futures PF_HYPEUSD+0.0466%1h93.300+0.175%$20.8M$28.9M50xas long as short