Settings8H · net · $10k
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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 04:00 UTC+0.0112%/8h= +12.3% APRpaid last 24h +0.002%
Price spread now: Coinbase International against Phemex+0.057%7-day average −0.033% · you sell dearer than you buy
Net, funding: paid 7d − costs−$68as in the Funding arb table
Net, price: spread back to 7d avg − costs−$49as in the Price arb table
costs, in and out, $10k−$580.583% of the position
Long on PhemexShort on Coinbase International
What this pair did over the last
the charts below follow
Funding, last 7 days−0.093%−$9 on $10k
Price spread, last 4 days (all we have)−0.058%−$6 · spread now +0.057%, 7d avg −0.033%
Together, before fees−0.152%−$15 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Coinbase International is 0.090% dearer against Phemex than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of −0.033%. Mind the row above: over the last 7 days funding on this pair cost −0.093%, so the current rate has only just turned in your favour.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhemex HYPEUSDT93.1770.0032pay 0.0032% / 8h3h 07m$12.6M$2.7M50x
ShortCoinbase International HYPE-PERP-INTX93.2300.0144get 0.0018% / 1h7m 53s$4.7M$5.6M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Coinbase International against Phemex. 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
$23.51
Price spread: +0.057% → −0.033%
$9.04
Slippage, 4 orders
−$36.3
Fee Phemex: 6 bp × 2 orders
−$12
Fee Coinbase International: 5 bp × 2 orders
−$10
Net
−$25.76
Costs to cover
0.583%
Break-even
14.7 days
Slippage from Phemex: live order book, 6 min ago; Coinbase International: live order book, 1 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Phemex live order book, 6 min ago4.03 bp19.2 bp −$1937.6 bp −$376doesn't fitdoesn't fit
Sell Coinbase International live order book, 1 min ago4.30 bp9.6 bp −$1015.3 bp −$15337.7 bp −$3,774doesn't fit

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−0.1824%1h92.940−0.254%$194K$230K7xas long as short
Aftermath Perps HYPEUSD−0.0317%1h93.073−0.112%$22K$21K10xas long as short
Arcus HYPE-USD−0.0194%1h93.086−0.098%$1.1M$3.9M10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.022−0.166%$3K$33125xas long as short
Orderly PERP_HYPE_USDC−0.0050%4h93.179+0.002%$146K$670K20xas long as short
Bullet HYPE-USD−0.0005%1h93.162−0.016%$111K$578K20xas long as short
dYdX HYPE-USD0.0000%1h93.076−0.109%$128K$29K5xas long as short
Perpl HYPE0.0000%43m93.202+0.027%$22K$293K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0002%1h93.228+0.054%$62K—150xas long as short
Ondo Perps HYPE-USD.P+0.0002%1h93.050−0.136%$700K$1.1M10xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
01 Exchange HYPEUSD+0.0016%1h93.155−0.024%$87K$365K20xas long as short
Phoenix HYPE+0.0026%1h93.132−0.048%$209K$1.2M10xas long as short
Bybit HYPEUSDT+0.0030%8h93.233+0.060%$317.7M$284.5M75xas long as short
Bitget HYPEUSDT+0.0032%4h93.244+0.072%$225.5M$98.8M75xas long as short
Phemex HYPEUSDTlong+0.0032%8h93.177long leg$12.6M$2.7M50x
Popdex HYPEUSDT+0.0056%1h93.129−0.052%$76K$1.1M50xas long as short
Gate HYPE_USDT+0.0080%4h93.248+0.076%$45.7M$54.9M75xas long as short
Paradex HYPE-USD-PERP+0.0095%8h93.139−0.041%$339K$162K20xas long as short
Lighter HYPE+0.0096%1h93.256+0.085%$16.1M$62.9M20xas long as short
Lighter RH HYPE+0.0096%1h93.263+0.092%$3.1M$11.7M20xas long as short
edgeX HYPEUSDC+0.0099%4h93.100−0.083%$4.9M$29.7M30xas long as short
Katana Perps HYPE-USD+0.0099%8h93.090−0.093%$28K$1.7M10xas long as short
Nado HYPE-PERP+0.0100%1h93.138−0.041%$6.8M$46.4M10xas long as short
Hyperliquid HYPE+0.0100%1h93.292+0.123%$2.03B$664.4M10xas long as short
Aster HYPEUSDT+0.0100%4h93.250+0.078%$8.7M$36.3M300xas long as short
Pacifica HYPE+0.0100%1h93.127−0.054%$10.0M$15.3M20xas long as short
Binance HYPEUSDT+0.0100%4h93.255+0.083%$374.2M$909.5M75xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.253+0.082%$114.4M$306.0M50xas long as short
Bulk HYPE-USD+0.0100%1h93.125−0.056%$203K$3K10xas long as short
MEXC HYPE_USDT+0.0100%4h93.257+0.086%$92.0M$81.6M100xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.238+0.065%$46.2M$18.5M75xas long as short
BingX HYPE-USDT+0.0100%4h93.243+0.071%—$53.8M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.275+0.105%$7.3M$11.0M20xas long as short
Variational Omni HYPE+0.0100%8h93.028−0.160%$28.6M$56.7M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.156−0.022%$7.5M$46.8M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.126−0.055%$342K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.110−0.072%$665K$2.9M20xas long as short
Vest HYPE-PERP+0.0100%1h93.179+0.002%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.168−0.010%$488K$2.7M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.236+0.063%$79K$167K20xas long as short
Derive HYPE-PERP+0.0100%1h93.207+0.033%$16.1M$7.5M10xas long as short
SunX HYPE-USDT+0.0100%4h93.257+0.086%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.217+0.043%$2.0M$2.0M10xas long as short
HTX HYPE-USDT+0.0100%4h93.300+0.132%$1.4M$6.3M75xas long as short
Extended HYPE-USD+0.0104%1h93.230+0.057%$18.1M$43.5M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.238+0.066%$394K$164K20xas long as short
Kalshi KXHYPEPERP+0.0121%8h93.319+0.152%$1.8M$5.5M2.3xas long as short
Coinbase International HYPE-PERP-INTXshort+0.0144%1h93.230+0.057%$4.7M$5.6M50x
Kraken Futures PF_HYPEUSD+0.0196%1h93.294+0.126%$20.8M$29.4M50xas long as short
Injective HYPE/USDC PERP+0.0242%1h93.020−0.168%$30K$339K12xas long as short
Reya HYPERUSDPERP+0.0266%1h93.184+0.008%$80K$131K15xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0332% / S −0.0154%1h93.218+0.044%$1.4M—100xas long as short
BloFin HYPE-USDT+0.0340%4h93.029−0.159%$16.8M$11.8M75xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0522%1h93.313+0.146%$7.5M$4.5M50xas long as short
RISEx HYPE/USDC+0.0598%1h93.183+0.006%$3.2M$6.2M20xas long as short