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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
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Alert: spread
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Funding you earn now, next payment 02:00 UTC+0.0157%/8h= +17.2% APRpaid last 24h +0.047%
Price spread now: Pacifica against Orderly−0.031%7-day average +0.026% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on OrderlyShort on Pacifica
What this pair did over the last
the charts below follow
Funding, last 7 days+0.081%+$8 on $10k
Price spread, last 3 days (all we have)+0.072%+$7 · spread now −0.031%, 7d avg +0.026%
Together, before fees+0.153%+ Points / potential airdropPacifica: Active · farm board+$15 on $10k · with fees, hour by hour
Funding pays, the price is against you. Pacifica is 0.057% cheaper against Orderly than usual: you would sell low and buy high (spread −0.031% now, against its 7-day average of +0.026%). If the spread goes back, that is −$6 on $10k: about 29 hours of funding at the current rate (+$5 a day). At the pace of the last 7 days (+0.081% in total) that is about 4.9 days.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOrderly PERP_HYPE_USDC93.648−0.0057get 0.0029% / 4h2h 31m$156K$652K20x
ShortPacifica HYPE93.6190.0100get 0.0013% / 1h31m 52s$10.1M$14.8M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Pacifica against Orderly. 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
$32.98
Price spread: −0.031% → +0.026%
−$5.68
Slippage, 4 orders
no order book: not counted
Fee Orderly: 3 bp × 2 orders
−$6
Fee Pacifica: 4 bp × 2 orders
−$8
Net
$13.29
Costs to cover
0.140%
Break-even
4.2 days
Slippage unknown: Orderly: no order-book sample; Pacifica: 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
LegHalf-spread$10k$100k$1M$5M
Buy Orderly no order-book sample—————
Sell Pacifica live order book, 2 min ago0.43 bp5.8 bp −$6doesn't fitdoesn't fitdoesn't fit
Orderly: 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 54 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−0.0888%1h93.443−0.219%$196K$231K7xas long as short
Arcus HYPE-USD−0.0786%1h93.522−0.135%$1.2M$3.9M10xas long as short
Aftermath Perps HYPEUSD−0.0171%1h93.413−0.251%$22K$21K10xas long as short
Phemex HYPEUSDT−0.0117%8h93.596−0.056%$12.7M$2.7M50xas long as short
Ondo Perps HYPE-USD.P−0.0093%1h93.560−0.094%$698K$988K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.482−0.177%$3K$33125xas long as short
01 Exchange HYPEUSD−0.0064%1h93.662+0.015%$86K$351K20xas long as short
Backpack HYPE_USDC_PERP−0.0059%1h93.619−0.031%$7.8M$10.4M20xas long as short
Orderly PERP_HYPE_USDClong−0.0057%4h93.648long leg$156K$652K20x
Gate HYPE_USDT−0.0056%4h93.665+0.018%$44.5M$54.7M75xas long as short
Show all 54 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster HYPEUSDT−0.0024%4h93.665+0.018%$8.8M$36.2M300xas long as short
dYdX HYPE-USD0.0000%1h93.622−0.028%$128K$31K5xas long as short
Perpl HYPE0.0000%43m93.612−0.038%$22K$331K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0003%1h93.686+0.041%$26K—150xas long as short
BingX HYPE-USDT+0.0006%4h93.665+0.018%—$53.9M—as long as short
Bybit HYPEUSDT+0.0006%8h93.630−0.019%$321.6M$282.6M75xas long as short
MEXC HYPE_USDT+0.0054%4h93.674+0.028%$88.1M$82.7M100xas long as short
Binance HYPEUSDT+0.0056%4h93.677+0.031%$381.1M$904.3M75xas long as short
edgeX HYPEUSDC+0.0059%4h93.458−0.203%$5.1M$30.0M30xas long as short
Phoenix HYPE+0.0060%1h93.170−0.510%$210K$1.2M10xas long as short
Bullet HYPE-USD+0.0060%1h93.676+0.030%$112K$578K20xas long as short
OKX HYPE-USDT-SWAP+0.0065%8h93.649+0.001%$115.2M$315.4M50xas long as short
Derive HYPE-PERP+0.0079%1h93.626−0.023%$16.2M$7.7M10xas long as short
Paradex HYPE-USD-PERP+0.0094%8h93.646−0.003%$340K$165K20xas long as short
Lighter HYPE+0.0096%1h93.668+0.021%$16.4M$62.4M20xas long as short
Lighter RH HYPE+0.0096%1h93.663+0.016%$3.1M$11.9M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.655+0.007%$66K$1.2M50xas long as short
Aevo HYPE-PERP+0.0096%1h93.675+0.029%$398K$177K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.590−0.062%$21K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.641−0.008%$5.7M$45.2M10xas long as short
Hyperliquid HYPE+0.0100%1h93.742+0.100%$2.05B$670.4M10xas long as short
Pacifica HYPEshort+0.0100%1h93.619−0.031%$10.1M$14.8M20x
KuCoin HYPEUSDTM+0.0100%4h93.675+0.029%$46.2M$18.4M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.650+0.002%$226.6M$100.3M75xas long as short
Variational Omni HYPE+0.0100%8h93.411−0.254%$31.0M$54.9M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.516−0.141%$7.5M$48.3M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.468−0.192%$338K$1.1M50xas long as short
StandX HYPE-USD+0.0100%1h93.477−0.183%$667K$2.6M20xas long as short
Vest HYPE-PERP+0.0100%1h93.666+0.019%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.708+0.064%$469K$2.5M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.649+0.001%$79K$172K20xas long as short
SunX HYPE-USDT+0.0100%4h93.748+0.107%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.644−0.004%$2.0M$2.0M10xas long as short
Bulk HYPE-USD+0.0100%1h93.348−0.321%$203K$10K10xas long as short
Extended HYPE-USD+0.0104%1h93.6480.000%$18.4M$44.5M50xas long as short
Coinbase International HYPE-PERP-INTX+0.0136%1h93.740+0.098%$4.9M$5.6M50xas long as short
Injective HYPE/USDC PERP+0.0137%1h93.490−0.169%$30K$339K12xas long as short
RISEx HYPE/USDC+0.0210%1h93.676+0.030%$2.7M$6.7M20xas long as short
HTX HYPE-USDT+0.0218%4h93.815+0.178%$1.4M$5.9M75xas long as short
Reya HYPERUSDPERP+0.0254%1h93.667+0.020%$80K$140K15xas long as short
Kalshi KXHYPEPERP+0.0266%8h93.514−0.143%$1.9M$5.1M2.3xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0335% / S −0.0158%1h93.691+0.046%$1.4M—100xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0519%1h93.752+0.111%$7.5M$4.5M50xas long as short
Kraken Futures PF_HYPEUSD+0.0680%1h93.731+0.088%$20.9M$30.1M50xas long as short