HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0065%/8h= −7.1% APRnext payment −$0.65 per $10,000 · paid last 24h +0.017%

Price spread now: Phemex against OKX−0.024%7-day average +0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$480.480% of the position

Long on OKX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.057%+$6 on $10k

Price spread, last 4 days (all we have)−0.013%−$1 · spread now −0.024%, 7d avg +0.026%

Together, before fees+0.044%+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Phemex is 0.049% cheaper against OKX than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.026%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.057%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX HYPE-USDT-SWAP	93.370	0.0100	pay 0.0100% / 8h	2h 36m	$114.5M	$309.4M	50x
Short	Phemex HYPEUSDT	93.348	0.0035	get 0.0035% / 8h	2h 36m	$12.6M	$2.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against OKX. 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 OKXbpFee PhemexbpOrdersPrice spread, now −0.024%Rate

Funding earned: −$13.62
Price spread: −0.024% → +0.026%: −$4.95
Slippage, 4 orders: −$25.99
Fee OKX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$66.56
Costs to cover: 0.480%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Phemex: live order book, 2 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 OKX live order book, 2 min ago	0.05 bp	5.5 bp −$6	8.8 bp −$88	18.6 bp −$1,864	doesn't fit
Sell Phemex live order book, 2 min ago	4.78 bp	19.7 bp −$20	39.6 bp −$396	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	−0.1688%	1h	93.098	−0.291%	$196K	$234K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0370%	1h	93.313	−0.061%	$22K	$21K	10x	as long as short
Bullet HYPE-USD	−0.0084%	1h	93.327	−0.046%	$111K	$578K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.256	−0.122%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0024%	1h	93.347	−0.025%	$87K	$366K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0022%	4h	93.329	−0.044%	$146K	$663K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.377	+0.007%	$128K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.328	−0.045%	$22K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.370	0.000%	$62K	—	150x	as long as short
Arcus HYPE-USD	+0.0011%	1h	93.355	−0.016%	$1.0M	$4.0M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget HYPEUSDT	+0.0016%	4h	93.364	−0.006%	$225.7M	$98.9M	75x	as long as short
Ondo Perps HYPE-USD.P	+0.0019%	1h	93.170	−0.214%	$702K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0021%	8h	93.359	−0.012%	$317.2M	$283.7M	75x	as long as short
Phoenix HYPE	+0.0026%	1h	93.305	−0.070%	$209K	$1.2M	10x	as long as short
Phemex HYPEUSDTshort	+0.0035%	8h	93.348	−0.024%	$12.6M	$2.7M	50x
edgeX HYPEUSDC	+0.0093%	4h	93.126	−0.261%	$4.9M	$30.0M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	93.416	+0.050%	$340K	$162K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.382	+0.012%	$16.1M	$63.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.387	+0.018%	$3.1M	$11.4M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.337	−0.035%	$76K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.360	−0.011%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.332	−0.040%	$8.0M	$48.5M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.393	+0.025%	$2.03B	$668.0M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.361	−0.010%	$8.7M	$36.5M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.409	+0.042%	$10.1M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.380	+0.011%	$374.1M	$913.7M	75x	as long as short
OKX HYPE-USDT-SWAPlong	+0.0100%	8h	93.370	long leg	$114.5M	$309.4M	50x
Gate HYPE_USDT	+0.0100%	4h	93.369	−0.001%	$46.6M	$54.2M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.382	+0.013%	$89.9M	$80.9M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.366	−0.004%	$46.1M	$18.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.368	−0.002%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.380	+0.011%	$7.3M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.140	−0.247%	$28.5M	$56.6M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.194	−0.188%	$7.5M	$47.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.132	−0.255%	$342K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.228	−0.152%	$667K	$2.9M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.354	−0.017%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.345	−0.027%	$484K	$2.7M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.347	−0.025%	$79K	$166K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.320	−0.053%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.324	−0.049%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.364	−0.006%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.491	+0.130%	$1.4M	$6.4M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.344	−0.028%	$215K	$15K	10x	as long as short
Kalshi KXHYPEPERP	+0.0103%	8h	93.376	+0.006%	$1.8M	$5.7M	2.3x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.346	−0.025%	$18.1M	$43.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.367	−0.003%	$395K	$161K	20x	as long as short
Injective HYPE/USDC PERP	+0.0122%	1h	93.290	−0.086%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.430	+0.064%	$4.8M	$5.6M	50x	as long as short
Reya HYPERUSDPERP	+0.0268%	1h	93.327	−0.046%	$80K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0154%	1h	93.362	−0.009%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.342	−0.030%	$16.9M	$11.9M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0341%	1h	93.422	+0.056%	$20.8M	$29.6M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0457%	1h	93.446	+0.081%	$7.5M	$4.0M	50x	as long as short
RISEx HYPE/USDC	+0.0527%	1h	93.448	+0.083%	$3.2M	$6.2M	20x	as long as short