HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0077%/8h= +8.5% APRnext payment +$0.77 per $10,000 · paid last 24h +0.008%

Price spread now: Variational Omni against Phemex−0.175%7-day average −0.036% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Phemex Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.008%+$1 on $10k

Price spread, last 4 days (all we have)+0.178%+$18 · spread now −0.175%, 7d avg −0.036%

Together, before fees+0.186%+ Points / potential airdropVariational Omni: Active · farm board+$19 on $10k · with fees, hour by hour

Funding pays, the price is against you. Variational Omni is 0.138% cheaper against Phemex than usual: you would sell low and buy high (spread −0.175% now, against its 7-day average of −0.036%). If the spread goes back, that is −$14 on $10k: about 6.0 days of funding at the current rate (+$2 a day). At the pace of the last 3 days (+0.008% in total) that is about 2 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex HYPEUSDT	92.851	0.0023	pay 0.0023% / 8h	4h 03m	$12.5M	$2.7M	50x
Short	Variational Omni HYPE	92.689	0.0100	get 0.0100% / 8h	4h 03m	$28.5M	$57.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Phemex. 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

Position, each leg$Hold fordaysFee PhemexbpFee Variational OmnibpOrdersPrice spread, now −0.175%Rate

Funding earned: $16.25
Price spread: −0.175% → −0.036%: −$13.84
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$9.58
Costs to cover: 0.120%
Break-even: 11.1 days

Slippage unknown: Phemex: live order book, 6 min ago; Variational Omni: RFQ quote, 1 min ago. Net counts fees only.

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, 6 min ago	2.53 bp	15.9 bp −$16	34.0 bp −$340	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 1 min ago	0.44 bp	doesn't fit	4.2 bp −$42	20.6 bp −$2,059	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	92.818	−0.036%	$1.1M	$3.9M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0368%	1h	92.692	−0.171%	$194K	$227K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0267%	1h	92.799	−0.056%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.865	+0.015%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0065%	4h	92.837	−0.015%	$157K	$654K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.865	+0.015%	$127K	$29K	5x	as long as short
01 Exchange HYPEUSD	0.0000%	1h	92.876	+0.027%	$87K	$361K	20x	as long as short
Perpl HYPE	0.0000%	43m	92.879	+0.030%	$22K	$302K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.890	+0.042%	$62K	—	150x	as long as short
Phemex HYPEUSDTlong	+0.0023%	8h	92.851	long leg	$12.5M	$2.7M	50x

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet HYPE-USD	+0.0028%	1h	92.834	−0.018%	$111K	$579K	20x	as long as short
BingX HYPE-USDT	+0.0036%	4h	92.866	+0.016%	—	$53.5M	—	as long as short
Ondo Perps HYPE-USD.P	+0.0037%	1h	92.800	−0.055%	$697K	$1.1M	10x	as long as short
Phoenix HYPE	+0.0043%	1h	92.755	−0.103%	$210K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0045%	8h	92.860	+0.010%	$316.9M	$281.1M	75x	as long as short
Aster HYPEUSDT	+0.0063%	4h	92.872	+0.023%	$8.7M	$36.1M	300x	as long as short
Bitget HYPEUSDT	+0.0090%	4h	92.856	+0.005%	$224.8M	$98.6M	75x	as long as short
edgeX HYPEUSDC	+0.0094%	4h	92.749	−0.110%	$4.9M	$29.6M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	92.886	+0.038%	$339K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.880	+0.031%	$16.1M	$62.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.885	+0.037%	$3.1M	$11.8M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.860	+0.010%	$69K	$1.1M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0097%	8h	92.868	+0.018%	$113.9M	$303.9M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.860	+0.010%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.859	+0.009%	$7.5M	$45.6M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.901	+0.054%	$2.02B	$663.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.886	+0.038%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.877	+0.028%	$373.2M	$901.7M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.800	−0.055%	$202K	$13K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	92.857	+0.006%	$44.5M	$55.4M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.875	+0.026%	$88.3M	$81.2M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.886	+0.038%	$46.1M	$18.4M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.871	+0.022%	$7.3M	$11.3M	20x	as long as short
Variational Omni HYPEshort	+0.0100%	8h	92.689	−0.175%	$28.5M	$57.4M	—
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.776	−0.081%	$7.5M	$46.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.773	−0.084%	$350K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.827	−0.026%	$667K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.888	+0.040%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.896	+0.048%	$468K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.850	−0.001%	$79K	$168K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.828	−0.024%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.846	−0.005%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.871	+0.022%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.998	+0.158%	$1.4M	$6.3M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.839	−0.012%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.850	−0.001%	$393K	$164K	20x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	92.960	+0.117%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.930	+0.085%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0227%	8h	92.923	+0.078%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0263%	1h	92.860	+0.010%	$79K	$131K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0321%	1h	92.951	+0.108%	$7.5M	$4.5M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.859	+0.008%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0331%	1h	92.934	+0.090%	$20.6M	$30.4M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.869	+0.019%	$16.8M	$11.6M	75x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.920	+0.074%	$3.2M	$6.4M	20x	as long as short