HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0083%/8h= +9.1% APRnext payment +$0.10 per $10,000 · paid last 24h +0.030%

Price spread now: Popdex against Ondo Perps+0.179%7-day average +0.005% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Ondo Perps Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.086%+$9 on $10k

Price spread, last 7 days−0.161%−$16 · spread now +0.179%, 7d avg +0.005%

Together, before fees−0.076%+ Points / potential airdropOndo Perps: Active · farm board−$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Popdex is 0.174% dearer against Ondo Perps than usual: you sell high and buy low: +$17 more if the spread goes back to its 7-day average of +0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps HYPE-USD.P	93.170	0.0013	pay 0.0002% / 1h	36m 56s	$701K	$1.2M	10x
Short	Popdex HYPEUSDT	93.337	0.0096	get 0.0012% / 1h	36m 56s	$76K	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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

Position, each leg$Hold fordaysFee Ondo PerpsbpFee PopdexbpOrdersPrice spread, now +0.179%Rate

Funding earned: $17.47
Price spread: +0.179% → +0.005%: $17.4
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: $23.47
Costs to cover: 0.114%
Break-even: from the start

Slippage unknown: Ondo Perps: no order-book sample; Popdex: live order book, 2 min ago. Net counts fees only.

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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Popdex live order book, 2 min ago	0.05 bp	4.4 bp −$4	5.9 bp −$59	54.0 bp −$5,397	doesn't fit

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.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hibachi HYPE/USDT-P	−0.1688%	1h	93.098	−0.077%	$196K	$234K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0370%	1h	93.313	+0.153%	$22K	$21K	10x	as long as short
Bullet HYPE-USD	−0.0084%	1h	93.327	+0.169%	$111K	$578K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.256	+0.092%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0024%	1h	93.347	+0.190%	$87K	$366K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0022%	4h	93.329	+0.171%	$146K	$663K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.297	+0.136%	$128K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.328	+0.170%	$22K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.370	+0.215%	$62K	—	150x	as long as short
Arcus HYPE-USD	+0.0011%	1h	93.308	+0.148%	$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
Ondo Perps HYPE-USD.Plong	+0.0013%	1h	93.170	long leg	$701K	$1.2M	10x
Bitget HYPEUSDT	+0.0014%	4h	93.353	+0.196%	$225.6M	$99.0M	75x	as long as short
Bybit HYPEUSDT	+0.0021%	8h	93.342	+0.185%	$317.2M	$283.7M	75x	as long as short
Phoenix HYPE	+0.0026%	1h	93.305	+0.145%	$209K	$1.2M	10x	as long as short
Phemex HYPEUSDT	+0.0035%	8h	93.348	+0.191%	$12.6M	$2.7M	50x	as long as short
edgeX HYPEUSDC	+0.0093%	4h	93.126	−0.047%	$4.9M	$30.0M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	93.386	+0.232%	$340K	$162K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.354	+0.197%	$16.1M	$63.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.350	+0.193%	$3.1M	$11.4M	20x	as long as short
Popdex HYPEUSDTshort	+0.0096%	1h	93.337	+0.179%	$76K	$1.2M	50x
Katana Perps HYPE-USD	+0.0099%	8h	93.210	+0.043%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.332	+0.174%	$8.0M	$48.5M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.393	+0.240%	$2.03B	$668.0M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.347	+0.190%	$8.7M	$36.5M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.347	+0.190%	$10.1M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.367	+0.212%	$374.1M	$914.0M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.355	+0.199%	$114.5M	$309.5M	50x	as long as short
Gate HYPE_USDT	+0.0100%	4h	93.342	+0.185%	$46.6M	$54.2M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.357	+0.201%	$89.9M	$80.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.341	+0.184%	$46.1M	$18.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.349	+0.192%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.380	+0.225%	$7.3M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.140	−0.033%	$28.5M	$56.6M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.194	+0.026%	$7.5M	$47.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.132	−0.041%	$342K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.228	+0.062%	$667K	$2.9M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.354	+0.198%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.345	+0.188%	$484K	$2.7M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.347	+0.190%	$79K	$166K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.320	+0.161%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.324	+0.165%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.364	+0.208%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.491	+0.345%	$1.4M	$6.4M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.344	+0.187%	$215K	$15K	10x	as long as short
Kalshi KXHYPEPERP	+0.0103%	8h	93.376	+0.221%	$1.8M	$5.7M	2.3x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.312	+0.153%	$18.1M	$43.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.367	+0.212%	$395K	$161K	20x	as long as short
Injective HYPE/USDC PERP	+0.0122%	1h	93.290	+0.129%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.430	+0.279%	$4.8M	$5.6M	50x	as long as short
Reya HYPERUSDPERP	+0.0268%	1h	93.327	+0.169%	$80K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0154%	1h	93.362	+0.206%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.342	+0.185%	$16.9M	$11.9M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0341%	1h	93.422	+0.270%	$20.8M	$29.6M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0457%	1h	93.446	+0.296%	$7.5M	$4.0M	50x	as long as short
RISEx HYPE/USDC	+0.0527%	1h	93.406	+0.254%	$3.2M	$6.2M	20x	as long as short