Funding you earn now, next payment 00:00 UTC+0.0083%/8h= +9.1% APRpaid last 24h +0.043%
Price spread now: Katana Perps against Orderly−0.035%7-day average −0.015% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)+0.039%+$4 on $10k
+Price spread, last 3 days (all we have)+0.066%+$7 · spread now −0.035%, 7d avg −0.015%
=Funding pays, the price is against you. Katana Perps is 0.020% cheaper against Orderly than usual: you would sell low and buy high (spread −0.035% now, against its 7-day average of −0.015%). If the spread goes back, that is −$2 on $10k: about 19 hours of funding at the current rate (+$2 a day). At the pace of the last 4 days (+0.039% in total) that is about 44 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_HYPE_USDC | 93.253 | 0.0017 | pay 0.0009% / 4h | 1h 09m | $176K | $524K | 20x |
| Short | Katana Perps HYPE-USD | 93.220 | 0.0100 | get 0.0100% / 8h | 1h 09m | $35K | $1.6M | 10x |
Orderly PERP_HYPE_USDC
Katana Perps HYPE-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Katana Perps against Orderly. 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
- $17.36
- Price spread: −0.035% → −0.015%
- −$2.01
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Katana Perps: 1.9 bp × 2 orders
- −$3.8
- Net
- $5.56
- Costs to cover
- 0.098%
- Break-even
- 4.8 days
Slippage unknown: Orderly: no order-book sample; Katana Perps: no order-book sample. 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Katana Perps no order-book sample | — | — | — | — | — |
Orderly and Katana 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 | |
|---|---|---|---|---|---|---|---|---|
| Aftermath Perps HYPEUSD | −0.0459% | 1h | 93.211 | −0.045% | $22K | $22K | 10x | as long as short |
| Hibachi HYPE/USDT-P | −0.0384% | 1h | 93.322 | +0.074% | $197K | $230K | 7x | as long as short |
| Arcus HYPE-USD | −0.0131% | 1h | 93.178 | −0.080% | $1.2M | $3.9M | 10x | as long as short |
| Ondo Perps HYPE-USD.P | −0.0124% | 1h | 93.180 | −0.078% | $699K | $896K | 10x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 93.276 | +0.025% | $3K | $331 | 25x | as long as short |
| 01 Exchange HYPEUSD | −0.0024% | 1h | 93.225 | −0.030% | $90K | $359K | 20x | as long as short |
| dYdX HYPE-USD | 0.0000% | 1h | 93.308 | +0.059% | $127K | $32K | 5x | as long as short |
| Popdex HYPEUSDT | 0.0000% | 1h | 93.213 | −0.043% | $57K | $1.2M | 50x | as long as short |
| Perpl HYPE | 0.0000% | 43m | 93.204 | −0.053% | $23K | $330K | 10x | as long as short |
| Aster HYPEUSDT | +0.0002% | 4h | 93.297 | +0.047% | $8.9M | $35.8M | 300x | as long as short |
Aftermath Perps HYPEUSD
Hibachi HYPE/USDT-P
Arcus HYPE-USD
Ondo Perps HYPE-USD.P
Hotstuff HYPE-PERP
01 Exchange HYPEUSD
dYdX HYPE-USD
Popdex HYPEUSDT
Perpl HYPE
Aster HYPEUSDTShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) HYPE/USD | L +0.0002% / S −0.0002% | 1h | 93.262 | +0.010% | $27K | — | 150x | as long as short |
| Orderly PERP_HYPE_USDClong | +0.0017% | 4h | 93.253 | long leg | $176K | $524K | 20x | |
| Bybit HYPEUSDT | +0.0022% | 8h | 93.270 | +0.018% | $323.0M | $283.2M | 75x | as long as short |
| Phoenix HYPE | +0.0034% | 1h | 93.333 | +0.086% | $214K | $1.2M | 10x | as long as short |
| Bullet HYPE-USD | +0.0049% | 1h | 93.236 | −0.018% | $112K | $578K | 20x | as long as short |
| Derive HYPE-PERP | +0.0050% | 1h | 93.218 | −0.037% | $16.3M | $7.0M | 10x | as long as short |
| Gate HYPE_USDT | +0.0062% | 4h | 93.264 | +0.012% | $44.0M | $58.8M | 75x | as long as short |
| Binance HYPEUSDT | +0.0063% | 4h | 93.270 | +0.019% | $382.9M | $889.1M | 75x | as long as short |
| MEXC HYPE_USDT | +0.0064% | 4h | 93.282 | +0.031% | $90.2M | $82.3M | 100x | as long as short |
| edgeX HYPEUSDC | +0.0080% | 4h | 93.297 | +0.047% | $5.1M | $29.6M | 30x | as long as short |
| Lighter HYPE | +0.0096% | 1h | 93.317 | +0.069% | $18.6M | $59.0M | 20x | as long as short |
| Lighter RH HYPE | +0.0096% | 1h | 93.303 | +0.054% | $3.1M | $12.2M | 20x | as long as short |
| Aevo HYPE-PERP | +0.0096% | 1h | 93.271 | +0.020% | $397K | $318K | 20x | as long as short |
| Paradex HYPE-USD-PERP | +0.0099% | 8h | 93.257 | +0.004% | $339K | $170K | 20x | as long as short |
| Katana Perps HYPE-USDshort | +0.0100% | 8h | 93.220 | −0.035% | $35K | $1.6M | 10x | |
| Nado HYPE-PERP | +0.0100% | 1h | 93.258 | +0.006% | $5.9M | $44.1M | 10x | as long as short |
| Hyperliquid HYPE | +0.0100% | 1h | 93.300 | +0.050% | $2.03B | $670.1M | 10x | as long as short |
| Pacifica HYPE | +0.0100% | 1h | 93.269 | +0.017% | $10.0M | $14.4M | 20x | as long as short |
| OKX HYPE-USDT-SWAP | +0.0100% | 8h | 93.249 | −0.004% | $114.1M | $313.0M | 50x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 93.303 | +0.054% | $47.0M | $18.6M | 75x | as long as short |
| Bitget HYPEUSDT | +0.0100% | 4h | 93.310 | +0.061% | $226.3M | $102.8M | 75x | as long as short |
| BingX HYPE-USDT | +0.0100% | 4h | 93.274 | +0.023% | — | $53.8M | — | as long as short |
| Backpack HYPE_USDC_PERP | +0.0100% | 1h | 93.297 | +0.047% | $7.8M | $10.6M | 20x | as long as short |
| Variational Omni HYPE | +0.0100% | 8h | 93.212 | −0.044% | $30.8M | $51.9M | — | as long as short |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 93.339 | +0.092% | $7.5M | $45.7M | 10x | as long as short |
| ApeX Omni HYPEUSDT | +0.0100% | 1h | 93.280 | +0.029% | $415K | $1.0M | 50x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 93.247 | −0.006% | $674K | $2.4M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 93.263 | +0.010% | — | $454K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 93.239 | −0.015% | $493K | $2.5M | 20x | as long as short |
| Bluefin HYPE-PERP | +0.0100% | 1h | 93.264 | +0.012% | $75K | $166K | 20x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 93.283 | +0.032% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 93.263 | +0.011% | $2.0M | $2.0M | 10x | as long as short |
| Phemex HYPEUSDT | +0.0100% | 8h | 93.297 | +0.047% | $12.7M | $2.6M | 50x | as long as short |
| Bulk HYPE-USD | +0.0100% | 1h | 93.280 | +0.029% | $204K | $8K | 10x | as long as short |
| Extended HYPE-USD | +0.0104% | 1h | 93.262 | +0.010% | $18.2M | $41.7M | 50x | as long as short |
| Kalshi KXHYPEPERP | +0.0117% | 8h | 93.332 | +0.085% | $1.9M | $5.2M | 2.3x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0176% | 1h | 93.270 | +0.018% | $4.9M | $5.7M | 50x | as long as short |
| HTX HYPE-USDT | +0.0223% | 4h | 93.400 | +0.158% | $1.5M | $7.7M | 75x | as long as short |
| Injective HYPE/USDC PERP | +0.0239% | 1h | 93.210 | −0.046% | $30K | $338K | 12x | as long as short |
| Reya HYPERUSDPERP | +0.0247% | 1h | 93.179 | −0.079% | $77K | $159K | 15x | as long as short |
| BloFin HYPE-USDT | +0.0260% | 4h | 93.271 | +0.019% | $16.8M | $12.4M | 75x | as long as short |
| RISEx HYPE/USDC | +0.0280% | 1h | 93.269 | +0.018% | $2.7M | $6.8M | 20x | as long as short |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0339% / S −0.0165% | 1h | 93.245 | −0.009% | $1.4M | — | 100x | as long as short |
| Deribit HYPE_USDC-PERPETUAL | +0.0340% | 1h | 93.353 | +0.107% | $7.4M | $4.6M | 50x | as long as short |
| Kraken Futures PF_HYPEUSD | +0.0465% | 1h | 93.387 | +0.144% | $20.9M | $28.9M | 50x | as long as short |
gTrade (Gains Network) HYPE/USD
Bybit HYPEUSDT
Phoenix HYPE
Bullet HYPE-USD
Derive HYPE-PERP
Gate HYPE_USDT
Binance HYPEUSDT
MEXC HYPE_USDT
edgeX HYPEUSDC
Lighter HYPE
Lighter RH HYPE
Aevo HYPE-PERP
Paradex HYPE-USD-PERP
Nado HYPE-PERP
Hyperliquid HYPE
Pacifica HYPE
OKX HYPE-USDT-SWAP
KuCoin HYPEUSDTM
Bitget HYPEUSDT
BingX HYPE-USDT
Backpack HYPE_USDC_PERP
Variational Omni HYPE
GRVT HYPE_USDT_Perp
ApeX Omni HYPEUSDT
StandX HYPE-USD
Vest HYPE-PERP
Polymarket Perps HYPE-USD
Bluefin HYPE-PERP
SunX HYPE-USDT
SoDEX HYPE-USD
Phemex HYPEUSDT
Bulk HYPE-USD
Extended HYPE-USD
Kalshi KXHYPEPERP
Coinbase International HYPE-PERP-INTX
HTX HYPE-USDT
Injective HYPE/USDC PERP
Reya HYPERUSDPERP
BloFin HYPE-USDT
RISEx HYPE/USDC
GMX HYPE/USD [WBTC.b-USDC]
Deribit HYPE_USDC-PERPETUAL
Kraken Futures PF_HYPEUSD