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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 22:00 UTC+0.0243%/8h= +26.6% APRnext payment +$0.30 per $10,000 · paid last 24h −0.008%
Price spread now: dYdX against Ondo Perps+0.161%57s7-day average +0.082% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on Ondo PerpsShort on dYdX
What this pair did over the last
the charts below follow
Funding, last 7 days−0.020%−$2 on $10k
Price spread, last 4 days (all we have)−0.287%−$29 · spread now +0.161%, 7d avg +0.082%
Together, before fees−0.308%+ Points / potential airdropOndo Perps: Active · farm board−$31 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and dYdX is 0.079% dearer against Ondo Perps than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.082%. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.020% in total (about -1.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.30 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
LongOndo Perps HYPE-USD.P93.570−0.0243get 0.0030% / 1h25m 43s$702K$939K10x
ShortdYdX HYPE-USD93.7210get 0.0000% / 1h25m 43s$128K$32K5x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

dYdX against Ondo Perps. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$51.07
Price spread: +0.161% → +0.082%
$7.91
Slippage, 4 orders
no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders
−$5
Fee dYdX: 5 bp × 2 orders
−$10
Net
$43.98
Costs to cover
0.150%
Break-even
1.0 days
Slippage unknown: Ondo Perps: no order-book sample; dYdX: live order book, 63 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Ondo Perps no order-book sample—————
Sell dYdX live order book, 63 min ago26.01 bp31.0 bp −$3172.5 bp −$725178.3 bp −$17.8K1004.8 bp −$502.4K
Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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−0.1016%1h93.493−0.083%$197K$233K7xas long as short
Aftermath Perps HYPEUSD−0.0286%1h93.576+0.006%$22K$22K10xas long as short
Ondo Perps HYPE-USD.Plong−0.0243%1h93.570long leg$702K$939K10x
Hotstuff HYPE-PERP−0.0080%1h93.557−0.014%$3K$33125xas long as short
01 Exchange HYPEUSD−0.0072%1h93.688+0.126%$90K$349K20xas long as short
Bullet HYPE-USD−0.0035%1h93.676+0.113%$112K$583K20xas long as short
Derive HYPE-PERP−0.0009%1h93.629+0.063%$16.4M$7.1M10xas long as short
dYdX HYPE-USDshort0.0000%1h93.721+0.161%$128K$32K5x
Perpl HYPE0.0000%43m93.671+0.108%$23K$337K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0001%1h93.718+0.158%$20K—150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster HYPEUSDT+0.0024%4h93.703+0.142%$9.0M$35.8M300xas long as short
Gate HYPE_USDT+0.0032%4h93.685+0.123%$44.1M$57.0M75xas long as short
Bybit HYPEUSDT+0.0037%8h93.680+0.118%$326.3M$287.0M75xas long as short
Orderly PERP_HYPE_USDC+0.0066%4h93.677+0.114%$176K$535K20xas long as short
Phoenix HYPE+0.0068%1h93.590+0.021%$216K$1.2M10xas long as short
Popdex HYPEUSDT+0.0072%1h93.653+0.089%$57K$1.2M50xas long as short
Lighter HYPE+0.0096%1h93.732+0.173%$18.6M$59.6M20xas long as short
Lighter RH HYPE+0.0096%1h93.716+0.156%$3.1M$12.3M20xas long as short
Paradex HYPE-USD-PERP+0.0100%8h93.676+0.114%$340K$170K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.640+0.075%$40K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.653+0.088%$6.0M$44.1M10xas long as short
Hyperliquid HYPE+0.0100%1h93.770+0.214%$2.04B$670.0M10xas long as short
Pacifica HYPE+0.0100%1h93.673+0.110%$10.0M$14.4M20xas long as short
Binance HYPEUSDT+0.0100%4h93.696+0.134%$386.5M$887.9M75xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.674+0.111%$115.1M$315.8M50xas long as short
Arcus HYPE-USD+0.0100%1h93.613+0.046%$1.2M$4.0M10xas long as short
MEXC HYPE_USDT+0.0100%4h93.713+0.153%$93.8M$82.2M100xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.712+0.152%$46.5M$18.7M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.702+0.141%$227.5M$102.2M75xas long as short
BingX HYPE-USDT+0.0100%4h93.684+0.122%—$54.2M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.719+0.159%$7.9M$11.7M20xas long as short
Variational Omni HYPE+0.0100%8h93.541−0.031%$28.9M$49.9M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.580+0.011%$7.5M$45.2M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.558−0.013%$406K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.586+0.017%$677K$2.4M20xas long as short
Vest HYPE-PERP+0.0100%1h93.668+0.104%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.696+0.135%$495K$2.6M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.694+0.133%$76K$168K20xas long as short
SunX HYPE-USDT+0.0100%4h93.696+0.135%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.679+0.116%$2.0M$2.0M10xas long as short
Phemex HYPEUSDT+0.0100%8h93.656+0.092%$12.8M$2.6M50xas long as short
Bulk HYPE-USD+0.0100%1h93.556−0.015%$204K$12K10xas long as short
Extended HYPE-USD+0.0104%1h93.679+0.116%$18.3M$41.1M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.677+0.115%$398K$318K20xas long as short
edgeX HYPEUSDC+0.0116%4h93.544−0.028%$5.1M$29.6M30xas long as short
Kalshi KXHYPEPERP+0.0133%8h93.760+0.203%$1.9M$5.3M2.3xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0166%1h93.783+0.228%$7.4M$4.6M50xas long as short
Coinbase International HYPE-PERP-INTX+0.0208%1h93.690+0.128%$4.9M$5.7M50xas long as short
Reya HYPERUSDPERP+0.0245%1h93.665+0.102%$78K$158K15xas long as short
Injective HYPE/USDC PERP+0.0285%1h93.500−0.075%$30K$291K12xas long as short
HTX HYPE-USDT+0.0316%4h93.850+0.299%$1.5M$7.6M75xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0339% / S −0.0164%1h93.697+0.136%$1.4M—100xas long as short
BloFin HYPE-USDT+0.0340%4h93.597+0.029%$17.1M$12.5M75xas long as short
RISEx HYPE/USDC+0.0467%1h93.702+0.141%$2.8M$6.8M20xas long as short
Kraken Futures PF_HYPEUSD+0.0572%1h93.790+0.235%$19.2M$26.0M50xas long as short