Funding you earn now, next payment 02:00 UTC−0.0052%/8h= −5.7% APRpaid last 24h +0.038%
Price spread now: Phoenix against OKX+0.237%7-day average +0.116% · you sell dearer than you buy
Net, funding: paid 7d − costs+$9as in the Funding arb table
Net, price: spread back to 7d avg − costs−$11as in the Price arb table
costs, in and out, $10k−$230.232% of the position
Funding, last 7 days+0.319%+$32 on $10k
+Price spread, last 7 days−0.131%−$13 · spread now +0.237%, 7d avg +0.116%
=The price spread pays, funding is against you. Phoenix is 0.121% dearer against OKX than usual: you sell high and buy low (spread +0.237% now, against its 7-day average of +0.116%): +$12 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 7.7 days. Mind the row above: over the last 7 days funding on this pair paid +0.319%, 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 | 93.328 | 0.0078 | pay 0.0078% / 8h | 5h 41m | $114.1M | $302.0M | 50x |
| Short | Phoenix HYPE | 93.549 | 0.0026 | get 0.0003% / 1h | 41m 14s | $213K | $1.2M | 10x |
OKX HYPE-USDT-SWAP
Phoenix HYPEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against OKX. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$10.97
- Price spread: +0.237% → +0.116%
- $12.07
- Slippage, 4 orders
- −$6.18
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$22.08
- Costs to cover
- 0.232%
- Break-even
- never at this rate
Slippage from OKX: live order book, 3 min ago; Phoenix: 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, 3 min ago | 0.21 bp | 5.2 bp −$5 | 6.7 bp −$67 | 17.9 bp −$1,789 | doesn't fit |
| Sell Phoenix live order book, 2 min ago | 1.17 bp | 5.7 bp −$6 | 9.8 bp −$98 | 125.4 bp −$12.5K | 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 | −0.1264% | 1h | 93.481 | +0.164% | $196K | $226K | 7x | as long as short |
| Arcus HYPE-USD | −0.0899% | 1h | 93.238 | −0.096% | $1.2M | $3.8M | 10x | as long as short |
| Bluefin HYPE-PERP | −0.0190% | 1h | 93.301 | −0.029% | $79K | $170K | 20x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 93.410 | +0.088% | $3K | $331 | 25x | as long as short |
| Phemex HYPEUSDT | −0.0067% | 8h | 93.304 | −0.026% | $12.6M | $2.7M | 50x | as long as short |
| Orderly PERP_HYPE_USDC | −0.0046% | 4h | 93.317 | −0.012% | $156K | $629K | 20x | as long as short |
| 01 Exchange HYPEUSD | −0.0040% | 1h | 93.337 | +0.010% | $85K | $345K | 20x | as long as short |
| Aftermath Perps HYPEUSD | −0.0035% | 1h | 93.438 | +0.118% | $22K | $21K | 10x | as long as short |
| Ondo Perps HYPE-USD.P | −0.0030% | 1h | 93.280 | −0.051% | $700K | $980K | 10x | as long as short |
| dYdX HYPE-USD | 0.0000% | 1h | 93.361 | +0.035% | $128K | $31K | 5x | as long as short |
Hibachi HYPE/USDT-P
Arcus HYPE-USD
Bluefin HYPE-PERP
Hotstuff HYPE-PERP
Phemex HYPEUSDT
Orderly PERP_HYPE_USDC
01 Exchange HYPEUSD
Aftermath Perps HYPEUSD
Ondo Perps HYPE-USD.P
dYdX HYPE-USDShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Perpl HYPE | 0.0000% | 43m | 93.346 | +0.020% | $23K | $322K | 10x | as long as short |
| gTrade (Gains Network) HYPE/USD | L +0.0002% / S −0.0002% | 1h | 93.366 | +0.040% | $62K | — | 150x | as long as short |
| Aster HYPEUSDT | +0.0024% | 4h | 93.375 | +0.050% | $8.8M | $35.6M | 300x | as long as short |
| Phoenix HYPEshort | +0.0026% | 1h | 93.549 | +0.237% | $213K | $1.2M | 10x | |
| BingX HYPE-USDT | +0.0026% | 4h | 93.349 | +0.023% | — | $53.0M | — | as long as short |
| Bullet HYPE-USD | +0.0028% | 1h | 93.344 | +0.017% | $111K | $578K | 20x | as long as short |
| Bybit HYPEUSDT | +0.0034% | 8h | 93.321 | −0.008% | $321.8M | $277.0M | 75x | as long as short |
| Gate HYPE_USDT | +0.0050% | 4h | 93.345 | +0.018% | $44.5M | $54.7M | 75x | as long as short |
| OKX HYPE-USDT-SWAPlong | +0.0078% | 8h | 93.328 | long leg | $114.1M | $302.0M | 50x | |
| Lighter HYPE | +0.0096% | 1h | 93.336 | +0.009% | $16.3M | $61.6M | 20x | as long as short |
| Lighter RH HYPE | +0.0096% | 1h | 93.349 | +0.023% | $3.1M | $11.5M | 20x | as long as short |
| Popdex HYPEUSDT | +0.0096% | 1h | 93.325 | −0.003% | $69K | $1.2M | 50x | as long as short |
| Paradex HYPE-USD-PERP | +0.0097% | 8h | 93.372 | +0.047% | $339K | $162K | 20x | as long as short |
| Katana Perps HYPE-USD | +0.0100% | 8h | 93.370 | +0.045% | $17K | $1.6M | 10x | as long as short |
| Nado HYPE-PERP | +0.0100% | 1h | 93.320 | −0.009% | $5.8M | $43.4M | 10x | as long as short |
| Hyperliquid HYPE | +0.0100% | 1h | 93.433 | +0.113% | $2.04B | $655.4M | 10x | as long as short |
| Pacifica HYPE | +0.0100% | 1h | 93.375 | +0.050% | $10.0M | $14.6M | 20x | as long as short |
| Binance HYPEUSDT | +0.0100% | 4h | 93.328 | 0.000% | $378.8M | $877.1M | 75x | as long as short |
| Bulk HYPE-USD | +0.0100% | 1h | 93.580 | +0.270% | $204K | $10K | 10x | as long as short |
| MEXC HYPE_USDT | +0.0100% | 4h | 93.330 | +0.002% | $89.7M | $80.6M | 100x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 93.344 | +0.017% | $45.9M | $18.1M | 75x | as long as short |
| Bitget HYPEUSDT | +0.0100% | 4h | 93.347 | +0.020% | $225.8M | $96.8M | 75x | as long as short |
| Backpack HYPE_USDC_PERP | +0.0100% | 1h | 93.471 | +0.153% | $7.4M | $10.4M | 20x | as long as short |
| Variational Omni HYPE | +0.0100% | 8h | 93.339 | +0.011% | $31.1M | $54.0M | — | as long as short |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 93.553 | +0.241% | $7.6M | $45.6M | 10x | as long as short |
| ApeX Omni HYPEUSDT | +0.0100% | 1h | 93.487 | +0.170% | $340K | $999K | 50x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 93.585 | +0.275% | $668K | $2.6M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 93.433 | +0.113% | — | $243K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 93.365 | +0.040% | $472K | $2.5M | 20x | as long as short |
| Derive HYPE-PERP | +0.0100% | 1h | 93.329 | +0.001% | $16.2M | $7.6M | 10x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 93.418 | +0.096% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 93.303 | −0.027% | $2.0M | $1.9M | 10x | as long as short |
| Extended HYPE-USD | +0.0104% | 1h | 93.280 | −0.052% | $18.4M | $43.7M | 50x | as long as short |
| Aevo HYPE-PERP | +0.0104% | 1h | 93.330 | +0.002% | $397K | $163K | 20x | as long as short |
| edgeX HYPEUSDC | +0.0116% | 4h | 93.476 | +0.159% | $5.1M | $29.6M | 30x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0176% | 1h | 93.370 | +0.045% | $4.9M | $5.4M | 50x | as long as short |
| HTX HYPE-USDT | +0.0200% | 4h | 93.500 | +0.184% | $1.4M | $6.0M | 75x | as long as short |
| Reya HYPERUSDPERP | +0.0257% | 1h | 93.319 | −0.010% | $79K | $140K | 15x | as long as short |
| Kalshi KXHYPEPERP | +0.0279% | 8h | 93.417 | +0.095% | $1.9M | $5.1M | 2.3x | as long as short |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0331% / S −0.0156% | 1h | 93.367 | +0.041% | $1.4M | — | 100x | as long as short |
| BloFin HYPE-USDT | +0.0340% | 4h | 93.300 | −0.030% | $16.9M | $11.6M | 75x | as long as short |
| Deribit HYPE_USDC-PERPETUAL | +0.0350% | 1h | 93.403 | +0.080% | $7.4M | $4.4M | 50x | as long as short |
| RISEx HYPE/USDC | +0.0510% | 1h | 93.422 | +0.101% | $3.2M | $6.5M | 20x | as long as short |
| Injective HYPE/USDC PERP | +0.0519% | 1h | 93.200 | −0.137% | $30K | $339K | 12x | as long as short |
| Kraken Futures PF_HYPEUSD | +0.0685% | 1h | 93.379 | +0.055% | $20.7M | $30.1M | 50x | as long as short |
Perpl HYPE
gTrade (Gains Network) HYPE/USD
Aster HYPEUSDT
BingX HYPE-USDT
Bullet HYPE-USD
Bybit HYPEUSDT
Gate HYPE_USDT
Lighter HYPE
Lighter RH HYPE
Popdex HYPEUSDT
Paradex HYPE-USD-PERP
Katana Perps HYPE-USD
Nado HYPE-PERP
Hyperliquid HYPE
Pacifica HYPE
Binance HYPEUSDT
Bulk HYPE-USD
MEXC HYPE_USDT
KuCoin HYPEUSDTM
Bitget HYPEUSDT
Backpack HYPE_USDC_PERP
Variational Omni HYPE
GRVT HYPE_USDT_Perp
ApeX Omni HYPEUSDT
StandX HYPE-USD
Vest HYPE-PERP
Polymarket Perps HYPE-USD
Derive HYPE-PERP
SunX HYPE-USDT
SoDEX HYPE-USD
Extended HYPE-USD
Aevo HYPE-PERP
edgeX HYPEUSDC
Coinbase International HYPE-PERP-INTX
HTX HYPE-USDT
Reya HYPERUSDPERP
Kalshi KXHYPEPERP
GMX HYPE/USD [WBTC.b-USDC]
BloFin HYPE-USDT
Deribit HYPE_USDC-PERPETUAL
RISEx HYPE/USDC
Injective HYPE/USDC PERP
Kraken Futures PF_HYPEUSD