HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0032%/8h= +3.5% APRnext payment +$0.04 per $10,000 · paid last 24h −0.079%

Price spread now: Arcus against Phoenix−0.045%49s7-day average −0.119% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$170.172% of the position

Long on Phoenix Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.186%−$19 on $10k

Price spread, last 7 days−0.048%−$5 · spread now −0.045%, 7d avg −0.119%

Together, before fees−0.234%−$23 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 Arcus is 0.074% dearer against Phoenix than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.119%. Mind the row above: over the last 3 days funding on this pair cost −0.186%, so the current rate has only just turned in your favour. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix HYPE	93.336	0.0068	pay 0.0009% / 1h	52m 09s	$215K	$1.2M	10x
Short	Arcus HYPE-USD	93.294	0.0100	get 0.0013% / 1h	52m 09s	$1.2M	$4.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Phoenix. 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

Position, each leg$Hold fordaysFee PhoenixbpFee ArcusbpOrdersPrice spread, now −0.045%Rate

Funding earned: $6.62
Price spread: −0.045% → −0.119%: $7.37
Slippage, 4 orders: −$5.73
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$3.24
Costs to cover: 0.172%
Break-even: 10.4 days

Slippage from Phoenix: live order book, 1 min ago; Arcus: 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 Phoenix live order book, 1 min ago	1.18 bp	5.6 bp −$6	10.6 bp −$106	doesn't fit	doesn't fit
Sell Arcus live order book, 2 min ago	0.48 bp	2.9 bp −$3	9.1 bp −$91	31.6 bp −$3,163	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
Hibachi HYPE/USDT-P	−0.1304%	1h	93.259	−0.083%	$197K	$233K	7x	as long as short
Ondo Perps HYPE-USD.P	−0.0145%	1h	93.210	−0.135%	$699K	$948K	10x	as long as short
Aftermath Perps HYPEUSD	−0.0116%	1h	93.299	−0.039%	$22K	$22K	10x	as long as short
01 Exchange HYPEUSD	−0.0096%	1h	93.324	−0.013%	$89K	$342K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.293	−0.046%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0005%	1h	93.311	−0.027%	$112K	$583K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.326	−0.011%	$127K	$33K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.413	+0.082%	$1.9M	$5.4M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.342	+0.006%	$23K	$343K	10x	as long as short
Aster HYPEUSDT	+0.0001%	4h	93.313	−0.025%	$8.9M	$36.3M	300x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.371	+0.037%	$20K	—	150x	as long as short
Gate HYPE_USDT	+0.0016%	4h	93.325	−0.012%	$44.1M	$56.2M	75x	as long as short
Derive HYPE-PERP	+0.0024%	1h	93.295	−0.044%	$16.4M	$7.1M	10x	as long as short
Bybit HYPEUSDT	+0.0042%	8h	93.321	−0.016%	$325.4M	$288.3M	75x	as long as short
Phoenix HYPElong	+0.0068%	1h	93.336	long leg	$215K	$1.2M	10x
Orderly PERP_HYPE_USDC	+0.0077%	4h	93.348	+0.013%	$180K	$536K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.382	+0.049%	$18.5M	$59.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.353	+0.018%	$3.1M	$12.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.308	−0.030%	$56K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.320	−0.017%	$40K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.305	−0.033%	$6.0M	$44.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.382	+0.049%	$2.03B	$668.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.343	+0.008%	$10.0M	$14.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.349	+0.014%	$386.0M	$890.2M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.313	−0.025%	$114.7M	$316.2M	50x	as long as short
Arcus HYPE-USDshort	+0.0100%	1h	93.294	−0.045%	$1.2M	$4.0M	10x
Bulk HYPE-USD	+0.0100%	1h	93.386	+0.054%	$204K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.340	+0.004%	$92.2M	$81.5M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.339	+0.003%	$46.3M	$19.4M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.337	+0.001%	$226.7M	$102.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.321	−0.016%	—	$54.4M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.361	+0.027%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.285	−0.055%	$28.8M	$49.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.383	+0.051%	$7.5M	$46.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.338	+0.002%	$405K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.301	−0.037%	$675K	$2.4M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.349	+0.013%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.357	+0.022%	$493K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.341	+0.005%	$76K	$169K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.327	−0.010%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.340	+0.004%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.340	+0.004%	$12.7M	$2.6M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0100%	8h	93.339	+0.003%	$339K	$171K	20x	as long as short
edgeX HYPEUSDC	+0.0101%	4h	93.326	−0.010%	$5.1M	$29.4M	30x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.332	−0.005%	$18.4M	$41.0M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.364	+0.030%	$397K	$318K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.440	+0.111%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0245%	1h	93.339	+0.003%	$77K	$157K	15x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.130	−0.221%	$30K	$231K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0317%	1h	93.448	+0.120%	$7.4M	$4.6M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0165%	1h	93.368	+0.034%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.281	−0.059%	$17.1M	$12.5M	75x	as long as short
HTX HYPE-USDT	+0.0410%	4h	93.493	+0.168%	$1.5M	$7.6M	75x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.367	+0.033%	$2.7M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0574%	1h	93.438	+0.109%	$19.2M	$25.8M	50x	as long as short