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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 02:00 UTC+0.0028%/8h= +3.1% APRpaid last 24h +0.004%
Price spread now: Popdex against MEXC−0.039%54s7-day average 0.000% · 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—prices read too far apart to compare
costs, in and out, $10k−$110.108% of the position
Long on MEXCShort on Popdex
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.001%$0 on $10k
Price spread, last 7 days+0.029%+$3 · spread now −0.039%, 7d avg 0.000%
Together, before fees+0.028%+$3 on $10k · with fees, hour by hour
Funding pays, the price is against you. Popdex is 0.039% cheaper against MEXC than usual: you would sell low and buy high (spread −0.039% now, against its 7-day average of 0.000%). If the spread goes back, that is −$4 on $10k: about 4.6 days of funding at the current rate (+$1 a day). The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongMEXC HYPE_USDT93.8590.0068pay 0.0034% / 4h2h 23m$87.9M$82.9M100x
ShortPopdex HYPEUSDT93.8220.0096get 0.0012% / 1h23m 40s$67K$1.2M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Popdex 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
$5.88
Price spread: −0.039% → 0.000%
−$3.9
Slippage, 4 orders
−$0.42
Fee MEXC: 2 bp × 2 orders
−$4
Fee Popdex: 3.2 bp × 2 orders
−$6.4
Net
−$8.83
Costs to cover
0.108%
Break-even
17.5 days
Slippage from MEXC: live order book, 5 min ago; Popdex: live order book, just now.

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 −$23.2 bp −$3210.7 bp −$1,06633.8 bp −$16.9K
Sell Popdex live order book, just now0.11 bp3.3 bp −$33.9 bp −$3925.6 bp −$2,555doesn't fit

HYPE on 54 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−0.0968%1h93.788−0.076%$197K$229K7xas long as short
Arcus HYPE-USD−0.0786%1h93.729−0.139%$1.2M$3.8M10xas long as short
Aftermath Perps HYPEUSD−0.0132%1h93.791−0.073%$22K$21K10xas long as short
Phemex HYPEUSDT−0.0126%8h93.853−0.006%$12.7M$2.7M50xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.854−0.005%$3K$33125xas long as short
Ondo Perps HYPE-USD.P−0.0078%1h93.850−0.010%$703K$924K10xas long as short
Orderly PERP_HYPE_USDC−0.0056%4h93.817−0.045%$157K$646K20xas long as short
01 Exchange HYPEUSD−0.0048%1h93.838−0.022%$85K$350K20xas long as short
Backpack HYPE_USDC_PERP−0.0038%1h93.855−0.004%$7.8M$10.3M20xas long as short
Gate HYPE_USDT−0.0030%4h93.854−0.005%$44.5M$55.1M75xas long as short
Show all 54 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX HYPE-USDT−0.0002%4h93.823−0.038%—$53.6M—as long as short
Aster HYPEUSDT−0.0002%4h93.873+0.015%$8.9M$35.9M300xas long as short
dYdX HYPE-USD0.0000%1h93.844−0.016%$129K$31K5xas long as short
Perpl HYPE0.0000%43m93.857−0.002%$22K$326K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0003%1h93.879+0.021%$26K—150xas long as short
Bybit HYPEUSDT+0.0005%8h93.841−0.019%$322.2M$281.2M75xas long as short
Phoenix HYPE+0.0060%1h93.904+0.048%$213K$1.2M10xas long as short
MEXC HYPE_USDTlong+0.0068%4h93.859long leg$87.9M$82.9M100x
Binance HYPEUSDT+0.0069%4h93.872+0.014%$382.1M$892.8M75xas long as short
OKX HYPE-USDT-SWAP+0.0069%8h93.850−0.010%$115.3M$308.3M50xas long as short
Bullet HYPE-USD+0.0076%1h93.855−0.004%$112K$578K20xas long as short
edgeX HYPEUSDC+0.0079%4h93.907+0.051%$5.1M$29.9M30xas long as short
Paradex HYPE-USD-PERP+0.0095%8h93.897+0.041%$341K$164K20xas long as short
Lighter HYPE+0.0096%1h93.886+0.029%$16.4M$62.6M20xas long as short
Lighter RH HYPE+0.0096%1h93.873+0.015%$3.1M$11.9M20xas long as short
Popdex HYPEUSDTshort+0.0096%1h93.822−0.039%$67K$1.2M50x
Aevo HYPE-PERP+0.0096%1h93.850−0.010%$399K$175K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.860+0.001%$21K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.862+0.003%$5.7M$45.1M10xas long as short
Hyperliquid HYPE+0.0100%1h93.965+0.113%$2.05B$665.5M10xas long as short
Pacifica HYPE+0.0100%1h93.887+0.030%$10.1M$14.7M20xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.893+0.036%$46.5M$18.1M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.843−0.017%$227.4M$98.5M75xas long as short
Variational Omni HYPE+0.0100%8h93.910+0.054%$31.1M$54.7M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.889+0.032%$7.6M$47.5M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.834−0.027%$339K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.876+0.018%$670K$2.6M20xas long as short
Vest HYPE-PERP+0.0100%1h93.910+0.055%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.894+0.037%$474K$2.4M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.820−0.042%$79K$171K20xas long as short
Derive HYPE-PERP+0.0100%1h93.822−0.040%$16.3M$7.7M10xas long as short
SunX HYPE-USDT+0.0100%4h93.921+0.066%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.850−0.010%$2.0M$1.9M10xas long as short
Bulk HYPE-USD+0.0100%1h93.880+0.022%$204K$10K10xas long as short
Extended HYPE-USD+0.0104%1h93.811−0.052%$18.3M$44.2M50xas long as short
Coinbase International HYPE-PERP-INTX+0.0136%1h93.940+0.086%$4.9M$5.5M50xas long as short
Injective HYPE/USDC PERP+0.0137%1h93.760−0.105%$30K$339K12xas long as short
HTX HYPE-USDT+0.0208%4h93.976+0.125%$1.4M$5.9M75xas long as short
RISEx HYPE/USDC+0.0210%1h93.910+0.054%$3.2M$7.0M20xas long as short
Reya HYPERUSDPERP+0.0255%1h93.860+0.001%$80K$140K15xas long as short
Kalshi KXHYPEPERP+0.0275%8h93.921+0.066%$1.9M$4.9M2.3xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0332% / S −0.0156%1h93.873+0.015%$1.4M—100xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0410%1h93.944+0.091%$7.5M$4.5M50xas long as short
Kraken Futures PF_HYPEUSD+0.0679%1h93.935+0.081%$21.0M$29.8M50xas long as short