Funding you earn now, next payment 22:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.027%
Price spread now: dYdX against Phemex+0.034%7-day average −0.008% · you sell dearer than you buy
Net, funding: paid 7d − costs−$118as in the Funding arb table
Net, price: spread back to 7d avg − costs−$100as in the Price arb table
costs, in and out, $10k−$1041.038% of the position
Funding, last 7 days−0.142%−$14 on $10k
+Price spread, last 3 days (all we have)+0.127%+$13 · spread now +0.034%, 7d avg −0.008%
=The price spread pays, funding is against you. dYdX is 0.041% dearer against Phemex than usual: you sell high and buy low (spread +0.034% now, against its 7-day average of −0.008%): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 33 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex HYPEUSDT | 93.689 | 0.0100 | pay 0.0100% / 8h | 2h 23m | $12.8M | $2.6M | 50x |
| Short | dYdX HYPE-USD | 93.721 | 0 | get 0.0000% / 1h | 23m 50s | $128K | $32K | 5x |
Phemex HYPEUSDT
dYdX HYPE-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
dYdX against Phemex. 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
- −$21
- Price spread: +0.034% → −0.008%
- $4.14
- Slippage, 4 orders
- −$81.78
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee dYdX: 5 bp × 2 orders
- −$10
- Net
- −$120.64
- Costs to cover
- 1.038%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 5 min ago; dYdX: live order book, 65 min ago.
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 Phemex live order book, 5 min ago | 1.76 bp | 17.0 bp −$17 | 30.2 bp −$302 | doesn't fit | doesn't fit |
| Sell dYdX live order book, 65 min ago | 26.01 bp | 31.0 bp −$31 | 72.5 bp −$725 | 178.3 bp −$17.8K | 1004.8 bp −$502.4K |
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 | −0.1008% | 1h | 93.638 | −0.055% | $198K | $233K | 7x | as long as short |
| Aftermath Perps HYPEUSD | −0.0297% | 1h | 93.630 | −0.063% | $22K | $22K | 10x | as long as short |
| Ondo Perps HYPE-USD.P | −0.0236% | 1h | 93.630 | −0.063% | $702K | $935K | 10x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 93.719 | +0.032% | $3K | $331 | 25x | as long as short |
| 01 Exchange HYPEUSD | −0.0064% | 1h | 93.745 | +0.060% | $90K | $349K | 20x | as long as short |
| Bullet HYPE-USD | −0.0027% | 1h | 93.725 | +0.038% | $112K | $583K | 20x | as long as short |
| Derive HYPE-PERP | −0.0009% | 1h | 93.678 | −0.011% | $16.5M | $7.0M | 10x | as long as short |
| dYdX HYPE-USDshort | 0.0000% | 1h | 93.721 | +0.034% | $128K | $32K | 5x | |
| Perpl HYPE | 0.0000% | 43m | 93.725 | +0.038% | $23K | $337K | 10x | as long as short |
| gTrade (Gains Network) HYPE/USD | L +0.0002% / S −0.0001% | 1h | 93.760 | +0.075% | $20K | — | 150x | as long as short |
Hibachi HYPE/USDT-P
Aftermath Perps HYPEUSD
Ondo Perps HYPE-USD.P
Hotstuff HYPE-PERP
01 Exchange HYPEUSD
Bullet HYPE-USD
Derive HYPE-PERP
Perpl HYPE
gTrade (Gains Network) HYPE/USDShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster HYPEUSDT | +0.0027% | 4h | 93.730 | +0.044% | $9.0M | $35.8M | 300x | as long as short |
| Gate HYPE_USDT | +0.0036% | 4h | 93.717 | +0.030% | $44.1M | $57.0M | 75x | as long as short |
| Bybit HYPEUSDT | +0.0037% | 8h | 93.694 | +0.005% | $326.3M | $287.0M | 75x | as long as short |
| Orderly PERP_HYPE_USDC | +0.0064% | 4h | 93.713 | +0.026% | $175K | $536K | 20x | as long as short |
| Phoenix HYPE | +0.0068% | 1h | 93.742 | +0.057% | $216K | $1.2M | 10x | as long as short |
| Popdex HYPEUSDT | +0.0072% | 1h | 93.706 | +0.018% | $57K | $1.2M | 50x | as long as short |
| Lighter HYPE | +0.0096% | 1h | 93.763 | +0.079% | $18.6M | $59.6M | 20x | as long as short |
| Lighter RH HYPE | +0.0096% | 1h | 93.744 | +0.059% | $3.1M | $12.4M | 20x | as long as short |
| Paradex HYPE-USD-PERP | +0.0100% | 8h | 93.751 | +0.066% | $341K | $170K | 20x | as long as short |
| Katana Perps HYPE-USD | +0.0100% | 8h | 93.710 | +0.022% | $40K | $1.6M | 10x | as long as short |
| Nado HYPE-PERP | +0.0100% | 1h | 93.707 | +0.019% | $6.0M | $44.1M | 10x | as long as short |
| Hyperliquid HYPE | +0.0100% | 1h | 93.790 | +0.108% | $2.04B | $669.4M | 10x | as long as short |
| Pacifica HYPE | +0.0100% | 1h | 93.746 | +0.061% | $10.0M | $14.4M | 20x | as long as short |
| Binance HYPEUSDT | +0.0100% | 4h | 93.708 | +0.020% | $386.6M | $888.1M | 75x | as long as short |
| OKX HYPE-USDT-SWAP | +0.0100% | 8h | 93.687 | −0.002% | $115.1M | $315.9M | 50x | as long as short |
| Arcus HYPE-USD | +0.0100% | 1h | 93.694 | +0.005% | $1.2M | $4.0M | 10x | as long as short |
| MEXC HYPE_USDT | +0.0100% | 4h | 93.715 | +0.028% | $93.8M | $82.3M | 100x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 93.726 | +0.039% | $46.5M | $18.7M | 75x | as long as short |
| Bitget HYPEUSDT | +0.0100% | 4h | 93.707 | +0.019% | $227.5M | $102.2M | 75x | as long as short |
| BingX HYPE-USDT | +0.0100% | 4h | 93.692 | +0.003% | — | $54.2M | — | as long as short |
| Backpack HYPE_USDC_PERP | +0.0100% | 1h | 93.747 | +0.062% | $7.9M | $11.7M | 20x | as long as short |
| Variational Omni HYPE | +0.0100% | 8h | 93.652 | −0.040% | $29.0M | $50.0M | — | as long as short |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 93.613 | −0.081% | $7.5M | $45.2M | 10x | as long as short |
| ApeX Omni HYPEUSDT | +0.0100% | 1h | 93.545 | −0.154% | $406K | $1.0M | 50x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 93.686 | −0.003% | $677K | $2.4M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 93.751 | +0.066% | — | $454K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 93.751 | +0.066% | $495K | $2.6M | 20x | as long as short |
| Bluefin HYPE-PERP | +0.0100% | 1h | 93.729 | +0.043% | $76K | $168K | 20x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 93.761 | +0.077% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 93.715 | +0.028% | $2.0M | $2.0M | 10x | as long as short |
| Phemex HYPEUSDTlong | +0.0100% | 8h | 93.689 | long leg | $12.8M | $2.6M | 50x | |
| Bulk HYPE-USD | +0.0100% | 1h | 93.556 | −0.142% | $204K | $12K | 10x | as long as short |
| Extended HYPE-USD | +0.0104% | 1h | 93.698 | +0.010% | $18.3M | $41.2M | 50x | as long as short |
| Aevo HYPE-PERP | +0.0104% | 1h | 93.712 | +0.025% | $399K | $318K | 20x | as long as short |
| edgeX HYPEUSDC | +0.0105% | 4h | 93.554 | −0.144% | $5.1M | $29.5M | 30x | as long as short |
| Kalshi KXHYPEPERP | +0.0135% | 8h | 93.806 | +0.125% | $1.9M | $5.3M | 2.3x | as long as short |
| Deribit HYPE_USDC-PERPETUAL | +0.0166% | 1h | 93.826 | +0.146% | $7.4M | $4.6M | 50x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0208% | 1h | 93.760 | +0.076% | $4.9M | $5.7M | 50x | as long as short |
| Reya HYPERUSDPERP | +0.0245% | 1h | 93.717 | +0.030% | $78K | $158K | 15x | as long as short |
| Injective HYPE/USDC PERP | +0.0285% | 1h | 93.610 | −0.084% | $30K | $291K | 12x | as long as short |
| HTX HYPE-USDT | +0.0313% | 4h | 93.884 | +0.208% | $1.5M | $7.6M | 75x | as long as short |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0339% / S −0.0164% | 1h | 93.755 | +0.070% | $1.4M | — | 100x | as long as short |
| BloFin HYPE-USDT | +0.0340% | 4h | 93.691 | +0.002% | $17.1M | $12.5M | 75x | as long as short |
| RISEx HYPE/USDC | +0.0467% | 1h | 93.787 | +0.104% | $2.8M | $6.8M | 20x | as long as short |
| Kraken Futures PF_HYPEUSD | +0.0572% | 1h | 93.807 | +0.126% | $19.2M | $26.0M | 50x | as long as short |
Aster HYPEUSDT
Gate HYPE_USDT
Bybit HYPEUSDT
Orderly PERP_HYPE_USDC
Phoenix HYPE
Popdex HYPEUSDT
Lighter HYPE
Lighter RH HYPE
Paradex HYPE-USD-PERP
Katana Perps HYPE-USD
Nado HYPE-PERP
Hyperliquid HYPE
Pacifica HYPE
Binance HYPEUSDT
OKX HYPE-USDT-SWAP
Arcus HYPE-USD
MEXC HYPE_USDT
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
Bulk HYPE-USD
Extended HYPE-USD
Aevo HYPE-PERP
edgeX HYPEUSDC
Kalshi KXHYPEPERP
Deribit HYPE_USDC-PERPETUAL
Coinbase International HYPE-PERP-INTX
Reya HYPERUSDPERP
Injective HYPE/USDC PERP
HTX HYPE-USDT
GMX HYPE/USD [WBTC.b-USDC]
BloFin HYPE-USDT
RISEx HYPE/USDC
Kraken Futures PF_HYPEUSD