Funding you earn now, next payment 04:00 UTC+0.0024%/8h= +2.6% APRpaid last 24h +0.003%
Price spread now: Popdex against Phemex+0.014%7-day average −0.006% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$54as in the Price arb table
costs, in and out, $10k−$560.561% of the position
Funding, last 4 days (all we have)−0.005%$0 on $10k
+Price spread, last 4 days (all we have)+0.106%+$11 · spread now +0.014%, 7d avg −0.006%
=Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Popdex is 0.020% dearer against Phemex than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.006%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex HYPEUSDT | 92.244 | 0.0056 | pay 0.0056% / 8h | 4h 47m | $12.5M | $2.7M | 50x |
| Short | Popdex HYPEUSDT | 92.257 | 0.0080 | get 0.0010% / 1h | 47m 11s | $67K | $1.2M | 50x |
Phemex HYPEUSDT
Popdex HYPEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Popdex 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
- $5
- Price spread: +0.014% → −0.006%
- $2
- Slippage, 4 orders
- −$37.69
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Popdex: 3.2 bp × 2 orders
- −$6.4
- Net
- −$49.09
- Costs to cover
- 0.561%
- Break-even
- 75.8 days
Slippage from Phemex: live order book, 2 min ago; Popdex: live order book, 2 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, 2 min ago | 4.28 bp | 23.1 bp −$23 | 35.4 bp −$354 | doesn't fit | doesn't fit |
| Sell Popdex live order book, 2 min ago | 2.55 bp | 6.4 bp −$6 | 7.6 bp −$76 | 37.0 bp −$3,702 | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| Arcus HYPE-USD | −0.0948% | 1h | 92.199 | −0.049% | $1.2M | $3.8M | 10x | as long as short |
| Hibachi HYPE/USDT-P | −0.0648% | 1h | 92.231 | −0.015% | $193K | $228K | 7x | as long as short |
| Aftermath Perps HYPEUSD | −0.0124% | 1h | 92.461 | +0.235% | $22K | $21K | 10x | as long as short |
| 01 Exchange HYPEUSD | −0.0120% | 1h | 92.209 | −0.038% | $86K | $352K | 20x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 92.187 | −0.062% | $3K | $331 | 25x | as long as short |
| Orderly PERP_HYPE_USDC | −0.0070% | 4h | 92.190 | −0.059% | $157K | $663K | 20x | as long as short |
| Bullet HYPE-USD | −0.0064% | 1h | 92.248 | +0.004% | $110K | $580K | 20x | as long as short |
| Ondo Perps HYPE-USD.P | −0.0040% | 1h | 92.170 | −0.080% | $699K | $1.1M | 10x | as long as short |
| Aster HYPEUSDT | −0.0011% | 4h | 92.192 | −0.056% | $8.6M | $36.4M | 300x | as long as short |
| dYdX HYPE-USD | 0.0000% | 1h | 92.238 | −0.007% | $126K | $31K | 5x | as long as short |
Arcus HYPE-USD
Hibachi HYPE/USDT-P
Aftermath Perps HYPEUSD
01 Exchange HYPEUSD
Hotstuff HYPE-PERP
Orderly PERP_HYPE_USDC
Bullet HYPE-USD
Ondo Perps HYPE-USD.P
Aster HYPEUSDT
dYdX HYPE-USDShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Perpl HYPE | 0.0000% | 43m | 92.283 | +0.042% | $22K | $310K | 10x | as long as short |
| gTrade (Gains Network) HYPE/USD | L +0.0002% / S −0.0002% | 1h | 92.260 | +0.017% | $61K | — | 150x | as long as short |
| BingX HYPE-USDT | +0.0030% | 4h | 92.199 | −0.049% | — | $53.2M | — | as long as short |
| Bybit HYPEUSDT | +0.0037% | 8h | 92.190 | −0.059% | $315.5M | $280.8M | 75x | as long as short |
| Derive HYPE-PERP | +0.0041% | 1h | 92.169 | −0.081% | $16.0M | $7.5M | 10x | as long as short |
| Phoenix HYPE | +0.0043% | 1h | 92.430 | +0.202% | $209K | $1.2M | 10x | as long as short |
| Gate HYPE_USDT | +0.0046% | 4h | 92.242 | −0.002% | $44.3M | $54.7M | 75x | as long as short |
| Phemex HYPEUSDTlong | +0.0056% | 8h | 92.244 | long leg | $12.5M | $2.7M | 50x | |
| OKX HYPE-USDT-SWAP | +0.0076% | 8h | 92.200 | −0.048% | $112.6M | $300.5M | 50x | as long as short |
| MEXC HYPE_USDT | +0.0076% | 4h | 92.192 | −0.056% | $87.1M | $80.4M | 100x | as long as short |
| Binance HYPEUSDT | +0.0078% | 4h | 92.217 | −0.030% | $370.7M | $896.7M | 75x | as long as short |
| Popdex HYPEUSDTshort | +0.0080% | 1h | 92.257 | +0.014% | $67K | $1.2M | 50x | |
| edgeX HYPEUSDC | +0.0080% | 4h | 92.311 | +0.073% | $4.9M | $29.4M | 30x | as long as short |
| Paradex HYPE-USD-PERP | +0.0091% | 8h | 92.253 | +0.010% | $338K | $163K | 20x | as long as short |
| ApeX Omni HYPEUSDT | +0.0093% | 1h | 92.333 | +0.096% | $337K | $1.0M | 50x | as long as short |
| Lighter HYPE | +0.0096% | 1h | 92.213 | −0.033% | $16.0M | $62.2M | 20x | as long as short |
| Lighter RH HYPE | +0.0096% | 1h | 92.206 | −0.041% | $3.1M | $11.6M | 20x | as long as short |
| Katana Perps HYPE-USD | +0.0099% | 8h | 92.220 | −0.026% | $13K | $1.7M | 10x | as long as short |
| Nado HYPE-PERP | +0.0100% | 1h | 92.287 | +0.046% | $5.8M | $43.2M | 10x | as long as short |
| Hyperliquid HYPE | +0.0100% | 1h | 92.277 | +0.036% | $2.01B | $663.0M | 10x | as long as short |
| Pacifica HYPE | +0.0100% | 1h | 92.260 | +0.018% | $10.0M | $15.0M | 20x | as long as short |
| Bulk HYPE-USD | +0.0100% | 1h | 92.800 | +0.603% | $202K | $13K | 10x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 92.240 | −0.004% | $45.8M | $18.3M | 75x | as long as short |
| Bitget HYPEUSDT | +0.0100% | 4h | 92.184 | −0.065% | $223.2M | $97.9M | 75x | as long as short |
| Backpack HYPE_USDC_PERP | +0.0100% | 1h | 92.181 | −0.068% | $7.2M | $10.2M | 20x | as long as short |
| Variational Omni HYPE | +0.0100% | 8h | 92.469 | +0.244% | $28.5M | $57.1M | — | as long as short |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 92.327 | +0.090% | $7.5M | $45.9M | 10x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 92.258 | +0.015% | $663K | $2.7M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 92.271 | +0.030% | — | $243K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 92.267 | +0.025% | $474K | $2.6M | 20x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 92.240 | −0.004% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 92.191 | −0.057% | $2.0M | $2.0M | 10x | as long as short |
| HTX HYPE-USDT | +0.0100% | 4h | 92.370 | +0.137% | $1.4M | $6.2M | 75x | as long as short |
| Extended HYPE-USD | +0.0104% | 1h | 92.163 | −0.088% | $18.1M | $43.4M | 50x | as long as short |
| Aevo HYPE-PERP | +0.0104% | 1h | 92.215 | −0.032% | $390K | $164K | 20x | as long as short |
| Injective HYPE/USDC PERP | +0.0150% | 1h | 93.000 | +0.820% | $30K | $339K | 12x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0160% | 1h | 92.260 | +0.017% | $4.7M | $5.5M | 50x | as long as short |
| Reya HYPERUSDPERP | +0.0260% | 1h | 92.223 | −0.022% | $78K | $140K | 15x | as long as short |
| Kalshi KXHYPEPERP | +0.0261% | 8h | 92.317 | +0.079% | $1.8M | $5.4M | 2.3x | as long as short |
| BloFin HYPE-USDT | +0.0311% | 4h | 92.180 | −0.069% | $16.7M | $11.5M | 75x | as long as short |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0329% / S −0.0153% | 1h | 92.254 | +0.011% | $1.4M | — | 100x | as long as short |
| Kraken Futures PF_HYPEUSD | +0.0334% | 1h | 92.237 | −0.007% | $20.5M | $30.4M | 50x | as long as short |
| Deribit HYPE_USDC-PERPETUAL | +0.0433% | 1h | 92.286 | +0.046% | $7.5M | $4.4M | 50x | as long as short |
| Bluefin HYPE-PERP | +0.0527% | 1h | 92.201 | −0.047% | $78K | $169K | 20x | as long as short |
| RISEx HYPE/USDC | +0.0687% | 1h | 92.349 | +0.114% | $3.1M | $6.4M | 20x | as long as short |
Perpl HYPE
gTrade (Gains Network) HYPE/USD
BingX HYPE-USDT
Bybit HYPEUSDT
Derive HYPE-PERP
Phoenix HYPE
Gate HYPE_USDT
OKX HYPE-USDT-SWAP
MEXC HYPE_USDT
Binance HYPEUSDT
edgeX HYPEUSDC
Paradex HYPE-USD-PERP
ApeX Omni HYPEUSDT
Lighter HYPE
Lighter RH HYPE
Katana Perps HYPE-USD
Nado HYPE-PERP
Hyperliquid HYPE
Pacifica HYPE
Bulk HYPE-USD
KuCoin HYPEUSDTM
Bitget HYPEUSDT
Backpack HYPE_USDC_PERP
Variational Omni HYPE
GRVT HYPE_USDT_Perp
StandX HYPE-USD
Vest HYPE-PERP
Polymarket Perps HYPE-USD
SunX HYPE-USDT
SoDEX HYPE-USD
HTX HYPE-USDT
Extended HYPE-USD
Aevo HYPE-PERP
Injective HYPE/USDC PERP
Coinbase International HYPE-PERP-INTX
Reya HYPERUSDPERP
Kalshi KXHYPEPERP
BloFin HYPE-USDT
GMX HYPE/USD [WBTC.b-USDC]
Kraken Futures PF_HYPEUSD
Deribit HYPE_USDC-PERPETUAL
Bluefin HYPE-PERP
RISEx HYPE/USDC