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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 23:00 UTC+0.0456%/8h= +49.9% APRnext payment +$0.57 per $10,000 · paid last 24h +0.069%
Price spread now: Hyperliquid against Nado+0.182%7-day average +0.003% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs+$1as in the Price arb table
costs, in and out, $10k−$170.169% of the position
Long on NadoShort on Hyperliquid
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.070%+$7 on $10k
Price spread, last 7 days−0.208%−$21 · spread now +0.182%, 7d avg +0.003%
Together, before fees−0.138%+ Points / potential airdropNado: Active · Hyperliquid: Season 2 · farm board−$14 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Hyperliquid is 0.179% dearer against Nado than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of +0.003%.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.070% in total (about 8.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.57 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongNado HYPE-PERP93.6530.0100pay 0.0012% / 1h59m 44s$5.9M$44.0M10x
ShortHyperliquid HYPE93.8240.0556get 0.0069% / 1h59m 44s$2.04B$666.2M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hyperliquid against Nado. 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
$95.74
Price spread: +0.182% → +0.003%
$17.89
Slippage, 4 orders
−$0.86
Fee Nado: 3.5 bp × 2 orders
−$7
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
$96.76
Costs to cover
0.169%
Break-even
from the start
Slippage from Nado: live order book, 4 min ago; Hyperliquid: live order book, 4 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 Nado live order book, 4 min ago0.05 bp4.2 bp −$47.8 bp −$7827.8 bp −$2,775doesn't fit
Sell Hyperliquid live order book, 4 min ago0.05 bp4.6 bp −$55.2 bp −$52doesn'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
Aftermath Perps HYPEUSD−0.0489%1h93.506−0.157%$22K$22K10xas long as short
Hibachi HYPE/USDT-P−0.0464%1h93.565−0.095%$198K$228K7xas long as short
Arcus HYPE-USD−0.0131%1h93.619−0.037%$1.2M$3.8M10xas long as short
Ondo Perps HYPE-USD.P−0.0130%1h93.490−0.175%$701K$897K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.683+0.031%$3K$33125xas long as short
01 Exchange HYPEUSD−0.0016%1h93.734+0.086%$91K$356K20xas long as short
dYdX HYPE-USD0.0000%1h93.721+0.073%$128K$32K5xas long as short
Perpl HYPE0.0000%43m93.747+0.100%$23K$330K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0002%1h93.764+0.118%$28K—150xas long as short
Popdex HYPEUSDT+0.0008%1h93.703+0.053%$62K$1.2M50xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Orderly PERP_HYPE_USDC+0.0015%4h93.791+0.147%$177K$524K20xas long as short
Bybit HYPEUSDT+0.0019%8h93.741+0.093%$324.3M$280.9M75xas long as short
Aster HYPEUSDT+0.0020%4h93.771+0.126%$8.9M$35.7M300xas long as short
Phoenix HYPE+0.0034%1h93.456−0.211%$214K$1.2M10xas long as short
Derive HYPE-PERP+0.0061%1h93.713+0.064%$16.3M$6.9M10xas long as short
Gate HYPE_USDT+0.0062%4h93.786+0.141%$44.3M$59.1M75xas long as short
Binance HYPEUSDT+0.0064%4h93.779+0.134%$385.0M$885.1M75xas long as short
MEXC HYPE_USDT+0.0064%4h93.780+0.135%$90.8M$82.5M100xas long as short
Bullet HYPE-USD+0.0067%1h93.738+0.091%$112K$577K20xas long as short
edgeX HYPEUSDC+0.0071%4h93.562−0.098%$5.1M$29.7M30xas long as short
Phemex HYPEUSDT+0.0083%8h93.708+0.058%$12.8M$2.6M50xas long as short
Lighter HYPE+0.0096%1h93.841+0.200%$18.7M$58.5M20xas long as short
Lighter RH HYPE+0.0096%1h93.787+0.143%$3.0M$12.1M20xas long as short
Aevo HYPE-PERP+0.0096%1h93.750+0.103%$399K$318K20xas long as short
Paradex HYPE-USD-PERP+0.0099%8h93.686+0.034%$340K$169K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.700+0.050%$29K$1.6M10xas long as short
Nado HYPE-PERPlong+0.0100%1h93.653long leg$5.9M$44.0M10x
Pacifica HYPE+0.0100%1h93.711+0.061%$10.1M$14.5M20xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.792+0.148%$114.6M$313.5M50xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.792+0.148%$47.2M$18.3M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.800+0.156%$227.5M$102.3M75xas long as short
BingX HYPE-USDT+0.0100%4h93.774+0.129%—$53.9M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.805+0.162%$7.9M$10.5M20xas long as short
Variational Omni HYPE+0.0100%8h93.552−0.108%$30.9M$51.8M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.460−0.207%$7.5M$45.6M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.565−0.094%$416K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.557−0.103%$677K$2.5M20xas long as short
Vest HYPE-PERP+0.0100%1h93.714+0.064%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.744+0.097%$496K$2.5M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.778+0.133%$76K$166K20xas long as short
SunX HYPE-USDT+0.0100%4h93.794+0.150%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.765+0.119%$2.0M$2.0M10xas long as short
Bulk HYPE-USD+0.0100%1h93.680+0.028%$205K$7K10xas long as short
Extended HYPE-USD+0.0104%1h93.757+0.110%$18.3M$41.6M50xas long as short
Kalshi KXHYPEPERP+0.0118%8h93.809+0.166%$1.9M$5.1M2.3xas long as short
Coinbase International HYPE-PERP-INTX+0.0176%1h93.830+0.188%$4.9M$5.7M50xas long as short
HTX HYPE-USDT+0.0219%4h93.947+0.313%$1.5M$7.7M75xas long as short
Injective HYPE/USDC PERP+0.0239%1h93.770+0.124%$30K$338K12xas long as short
Reya HYPERUSDPERP+0.0248%1h93.716+0.066%$77K$155K15xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0251%1h93.859+0.219%$7.4M$4.5M50xas long as short
BloFin HYPE-USDT+0.0259%4h93.600−0.057%$16.9M$12.3M75xas long as short
RISEx HYPE/USDC+0.0280%1h93.761+0.115%$2.8M$6.8M20xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0340% / S −0.0165%1h93.753+0.106%$1.4M—100xas long as short
Kraken Futures PF_HYPEUSD+0.0463%1h93.889+0.251%$21.0M$28.9M50xas long as short
Hyperliquid HYPEshort+0.0556%1h93.824+0.182%$2.04B$666.2M10x