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Funding arb · Price arb /

HYPE

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 07:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.020%
Price spread now: Popdex against OKX+0.114%7-day average +0.019% · 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−$9as in the Price arb table
costs, in and out, $10k−$180.182% of the position
Long on OKXShort on Popdex
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.017%+$2 on $10k
Price spread, last 7 days−0.149%−$15 · spread now +0.114%, 7d avg +0.019%
Together, before fees−0.132%−$13 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Popdex is 0.095% dearer against OKX than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of +0.019%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOKX HYPE-USDT-SWAP93.7860.0100pay 0.0100% / 8h1h 58m$115.9M$316.5M50x
ShortPopdex HYPEUSDT93.8930.0096get 0.0012% / 1h58m 15s$78K$1.2M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Popdex 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

Funding earned
−$0.84
Price spread: +0.114% → +0.019%
$9.52
Slippage, 4 orders
−$1.81
Fee OKX: 5 bp × 2 orders
−$10
Fee Popdex: 3.2 bp × 2 orders
−$6.4
Net
−$9.53
Costs to cover
0.182%
Break-even
never at this rate
Slippage from OKX: live order book, 6 min ago; Popdex: 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 OKX live order book, 6 min ago0.05 bp5.1 bp −$58.5 bp −$8518.4 bp −$1,839doesn't fit
Sell Popdex live order book, 1 min ago0.05 bp3.6 bp −$44.4 bp −$4418.6 bp −$1,858doesn'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
Hibachi HYPE/USDT-P−0.1256%1h93.851+0.069%$200K$242K7xas long as short
Aftermath Perps HYPEUSD−0.0276%1h94.143+0.381%$22K$21K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.992+0.220%$3K$33125xas long as short
01 Exchange HYPEUSD−0.0040%1h93.848+0.066%$86K$372K20xas long as short
Orderly PERP_HYPE_USDC−0.0016%4h93.764−0.023%$150K$680K20xas long as short
dYdX HYPE-USD0.0000%1h94.005+0.233%$129K$29K5xas long as short
Perpl HYPE0.0000%43m93.809+0.025%$22K$285K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0002%1h93.828+0.045%$63K—150xas long as short
BingX HYPE-USDT+0.0014%4h93.810+0.026%—$53.7M—as long as short
Bybit HYPEUSDT+0.0018%8h93.790+0.004%$317.0M$287.2M75xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Phoenix HYPE+0.0026%1h94.145+0.383%$209K$1.1M10xas long as short
Bluefin HYPE-PERP+0.0027%1h93.785−0.001%$79K$166K20xas long as short
Bitget HYPEUSDT+0.0040%4h93.787+0.001%$226.1M$99.3M75xas long as short
Phemex HYPEUSDT+0.0054%8h93.817+0.033%$12.8M$2.8M50xas long as short
edgeX HYPEUSDC+0.0080%4h94.128+0.365%$5.0M$30.5M30xas long as short
Arcus HYPE-USD+0.0084%1h93.952+0.177%$1.0M$4.0M10xas long as short
SoDEX HYPE-USD+0.0088%1h93.785−0.001%$2.0M$1.9M10xas long as short
Paradex HYPE-USD-PERP+0.0094%8h94.023+0.253%$342K$158K20xas long as short
Lighter HYPE+0.0096%1h93.982+0.209%$16.3M$62.8M20xas long as short
Lighter RH HYPE+0.0096%1h93.996+0.224%$3.1M$11.0M20xas long as short
Popdex HYPEUSDTshort+0.0096%1h93.893+0.114%$78K$1.2M50x
Katana Perps HYPE-USD+0.0100%8h93.910+0.132%$22K$1.7M10xas long as short
Nado HYPE-PERP+0.0100%1h93.778−0.008%$6.1M$50.2M10xas long as short
Hyperliquid HYPE+0.0100%1h93.910+0.132%$2.05B$682.4M10xas long as short
Aster HYPEUSDT+0.0100%4h93.828+0.045%$8.9M$37.2M300xas long as short
Pacifica HYPE+0.0100%1h94.020+0.250%$10.1M$15.4M20xas long as short
Binance HYPEUSDT+0.0100%4h93.823+0.039%$377.1M$928.3M75xas long as short
OKX HYPE-USDT-SWAPlong+0.0100%8h93.786long leg$115.9M$316.5M50x
Ondo Perps HYPE-USD.P+0.0100%1h93.920+0.143%$709K$1.2M10xas long as short
Bulk HYPE-USD+0.0100%1h94.213+0.456%$217K$15K10xas long as short
Gate HYPE_USDT+0.0100%4h93.793+0.007%$48.3M$54.6M75xas long as short
MEXC HYPE_USDT+0.0100%4h93.810+0.026%$87.9M$82.8M100xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.794+0.009%$46.3M$18.9M75xas long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.992+0.220%$7.2M$10.7M20xas long as short
Variational Omni HYPE+0.0100%8h94.028+0.258%$28.8M$56.5M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h94.099+0.334%$7.7M$48.1M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h94.152+0.390%$344K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.969+0.195%$681K$2.8M20xas long as short
Vest HYPE-PERP+0.0100%1h93.931+0.154%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.907+0.129%$477K$2.8M20xas long as short
Bullet HYPE-USD+0.0100%1h93.812+0.028%$112K$581K20xas long as short
Derive HYPE-PERP+0.0100%1h93.782−0.004%$16.4M$7.4M10xas long as short
SunX HYPE-USDT+0.0100%4h93.888+0.109%$32K$1.6M20xas long as short
HTX HYPE-USDT+0.0100%4h93.950+0.175%$1.4M$6.7M75xas long as short
Extended HYPE-USD+0.0104%1h93.743−0.046%$18.3M$43.3M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.797+0.012%$396K$159K20xas long as short
Kalshi KXHYPEPERP+0.0114%8h94.046+0.277%$1.8M$5.6M2.3xas long as short
Coinbase International HYPE-PERP-INTX+0.0120%1h93.830+0.047%$4.7M$6.1M50xas long as short
Injective HYPE/USDC PERP+0.0205%1h93.860+0.079%$30K$339K12xas long as short
Reya HYPERUSDPERP+0.0270%1h93.797+0.012%$77K$130K15xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0315%1h93.880+0.100%$7.4M$4.2M50xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0333% / S −0.0154%1h93.835+0.052%$1.4M—100xas long as short
BloFin HYPE-USDT+0.0340%4h93.949+0.174%$17.0M$12.2M75xas long as short
Kraken Futures PF_HYPEUSD+0.0414%1h93.840+0.058%$20.9M$29.6M50xas long as short
RISEx HYPE/USDC+0.0559%1h93.978+0.204%$3.2M$6.4M20xas long as short