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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+0.0036%/8h= +4.0% APRpaid last 24h +0.043%
Price spread now: SoDEX against Orderly+0.026%7-day average +0.004% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on OrderlyShort on SoDEX
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.052%+$5 on $10k
Price spread, last 3 days (all we have)−0.062%−$6 · spread now +0.026%, 7d avg +0.004%
Together, before fees−0.009%−$1 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and SoDEX is 0.021% dearer against Orderly than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.004%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOrderly PERP_HYPE_USDC93.7000.0064pay 0.0032% / 4h2h 23m$175K$536K20x
ShortSoDEX HYPE-USD93.7240.0100get 0.0013% / 1h23m 21s$2.0M$2.0M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

SoDEX against Orderly. 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
$7.61
Price spread: +0.026% → +0.004%
$2.15
Slippage, 4 orders
no order book: not counted
Fee Orderly: 3 bp × 2 orders
−$6
Fee SoDEX: 4 bp × 2 orders
−$8
Net
−$4.24
Costs to cover
0.140%
Break-even
10.9 days
Slippage unknown: Orderly: no order-book sample; SoDEX: live order book, 6 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 SoDEX live order book, 6 min ago0.05 bp6.8 bp −$711.8 bp −$11898.0 bp −$9,803doesn'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 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−0.1008%1h93.638−0.066%$198K$233K7xas long as short
Aftermath Perps HYPEUSD−0.0296%1h93.649−0.054%$22K$22K10xas long as short
Ondo Perps HYPE-USD.P−0.0237%1h93.630−0.075%$702K$934K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.716+0.017%$3K$33125xas long as short
01 Exchange HYPEUSD−0.0064%1h93.683−0.018%$90K$348K20xas long as short
Bullet HYPE-USD−0.0016%1h93.717+0.019%$111K$583K20xas long as short
Derive HYPE-PERP−0.0009%1h93.675−0.027%$16.5M$7.0M10xas long as short
dYdX HYPE-USD0.0000%1h93.721+0.022%$128K$32K5xas long as short
Perpl HYPE0.0000%43m93.703+0.004%$23K$337K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0001%1h93.746+0.049%$20K—150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster HYPEUSDT+0.0029%4h93.716+0.017%$9.0M$35.8M300xas long as short
Gate HYPE_USDT+0.0034%4h93.727+0.029%$44.1M$57.1M75xas long as short
Bybit HYPEUSDT+0.0037%8h93.710+0.011%$326.4M$287.1M75xas long as short
Orderly PERP_HYPE_USDClong+0.0064%4h93.700long leg$175K$536K20x
Popdex HYPEUSDT+0.0064%1h93.649−0.054%$57K$1.2M50xas long as short
Phoenix HYPE+0.0068%1h93.742+0.045%$216K$1.2M10xas long as short
Lighter HYPE+0.0096%1h93.741+0.044%$18.6M$59.6M20xas long as short
Lighter RH HYPE+0.0096%1h93.751+0.054%$3.1M$12.4M20xas long as short
Paradex HYPE-USD-PERP+0.0100%8h93.690−0.011%$340K$170K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.710+0.011%$40K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.674−0.027%$6.0M$44.1M10xas long as short
Hyperliquid HYPE+0.0100%1h93.789+0.095%$2.04B$669.8M10xas long as short
Pacifica HYPE+0.0100%1h93.707+0.007%$10.0M$14.4M20xas long as short
Binance HYPEUSDT+0.0100%4h93.688−0.012%$386.5M$888.3M75xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.716+0.017%$115.1M$316.1M50xas long as short
Arcus HYPE-USD+0.0100%1h93.642−0.062%$1.2M$4.0M10xas long as short
MEXC HYPE_USDT+0.0100%4h93.687−0.014%$93.7M$82.3M100xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.672−0.030%$46.5M$18.7M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.732+0.034%$227.6M$102.2M75xas long as short
BingX HYPE-USDT+0.0100%4h93.712+0.013%—$54.2M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.747+0.050%$7.9M$11.7M20xas long as short
Variational Omni HYPE+0.0100%8h93.652−0.052%$29.0M$50.0M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.613−0.093%$7.5M$45.2M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.545−0.165%$406K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.752+0.055%$678K$2.4M20xas long as short
Vest HYPE-PERP+0.0100%1h93.732+0.034%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.718+0.019%$495K$2.6M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.733+0.035%$76K$168K20xas long as short
SunX HYPE-USDT+0.0100%4h93.698−0.002%$32K$1.6M20xas long as short
SoDEX HYPE-USDshort+0.0100%1h93.724+0.026%$2.0M$2.0M10x
Phemex HYPEUSDT+0.0100%8h93.676−0.026%$12.8M$2.6M50xas long as short
Bulk HYPE-USD+0.0100%1h93.556−0.153%$204K$12K10xas long as short
Extended HYPE-USD+0.0104%1h93.718+0.019%$18.3M$41.2M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.744+0.047%$399K$318K20xas long as short
edgeX HYPEUSDC+0.0105%4h93.554−0.155%$5.1M$29.5M30xas long as short
Kalshi KXHYPEPERP+0.0132%8h93.775+0.080%$1.9M$5.3M2.3xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0145%1h93.826+0.134%$7.4M$4.6M50xas long as short
Coinbase International HYPE-PERP-INTX+0.0208%1h93.760+0.064%$4.9M$5.7M50xas long as short
Reya HYPERUSDPERP+0.0245%1h93.678−0.023%$78K$158K15xas long as short
Injective HYPE/USDC PERP+0.0285%1h93.610−0.096%$30K$291K12xas long as short
HTX HYPE-USDT+0.0310%4h93.864+0.175%$1.5M$7.6M75xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0339% / S −0.0164%1h93.747+0.051%$1.4M—100xas long as short
BloFin HYPE-USDT+0.0340%4h93.715+0.016%$17.1M$12.5M75xas long as short
RISEx HYPE/USDC+0.0467%1h93.719+0.020%$2.8M$6.8M20xas long as short
Kraken Futures PF_HYPEUSD+0.0571%1h93.849+0.159%$19.2M$26.0M50xas long as short