Settings8H · net · $10k
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Funding arb · Price arb /

HYPE

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 07:00 UTC+0.0340%/8h= +37.2% APRpaid last 24h +0.051%
Price spread now: BloFin against Phoenix−0.081%7-day average −0.076% · you buy dearer than you sell
Net, funding: paid 7d − costs−$1as in the Funding arb table
Net, price: spread back to 7d avg − costs−$24as in the Price arb table
costs, in and out, $10k−$240.237% of the position
Long on PhoenixShort on BloFin
What this pair did over the last
the charts below follow
Funding, last 7 days+0.224%+$22 on $10k
Price spread, last 4 days (all we have)−0.014%−$1 · spread now −0.081%, 7d avg −0.076%
Together, before fees+0.210%+$21 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.076%, so right now this pair is about funding alone: +$10 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.224% in total (about 11.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhoenix HYPE94.5670get 0.0000% / 1h1m 13s$209K$1.1M10x
ShortBloFin HYPE-USDT94.4900.0340get 0.0170% / 4h1m 13s$17.1M$12.4M75x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

BloFin 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

Funding earned
$71.4
Price spread: −0.081% → −0.076%
−$0.53
Slippage, 4 orders
−$4.67
Fee Phoenix: 3.5 bp × 2 orders
−$7
Fee BloFin: 6 bp × 2 orders
−$12
Net
$47.2
Costs to cover
0.237%
Break-even
2.4 days
Slippage from Phoenix: live order book, 2 min ago; BloFin: live order book, 8 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 Phoenix live order book, 2 min ago1.16 bp5.7 bp −$610.9 bp −$109doesn't fitdoesn't fit
Sell BloFin live order book, 8 min ago0.05 bp6.1 bp −$69.7 bp −$9716.9 bp −$1,689doesn'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−0.1496%1h94.529−0.041%$207K$268K7xas long as short
Bluefin HYPE-PERP−0.0382%1h94.523−0.047%$80K$151K20xas long as short
Aftermath Perps HYPEUSD−0.0205%1h94.503−0.067%$22K$20K10xas long as short
Ondo Perps HYPE-USD.P−0.0202%1h94.460−0.113%$712K$1.2M10xas long as short
Bullet HYPE-USD−0.0187%1h94.555−0.013%$112K$575K20xas long as short
01 Exchange HYPEUSD−0.0112%1h94.536−0.033%$88K$363K20xas long as short
Hotstuff HYPE-PERP−0.0080%1h94.527−0.042%$3K$33125xas long as short
Arcus HYPE-USD−0.0045%1h94.511−0.059%$1.0M$3.5M10xas long as short
Bybit HYPEUSDT−0.0017%8h94.570+0.003%$318.1M$288.5M75xas long as short
Orderly PERP_HYPE_USDC−0.0007%4h94.528−0.041%$147K$686K20xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Derive HYPE-PERP−0.0001%1h94.468−0.104%$16.3M$7.3M10xas long as short
Lighter HYPE0.0000%1h94.561−0.007%$16.4M$64.9M20xas long as short
dYdX HYPE-USD0.0000%1h94.542−0.026%$130K$94K5xas long as short
Kalshi KXHYPEPERP0.0000%8h94.611+0.047%$1.9M$5.5M2.3xas long as short
Phoenix HYPElong0.0000%1h94.567long leg$209K$1.1M10x
Perpl HYPE0.0000%43m94.547−0.021%$19K$286K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S 0.0000%1h94.588+0.022%$124K—150xas long as short
Bitget HYPEUSDT+0.0014%4h94.550−0.018%$227.1M$100.4M75xas long as short
Polymarket Perps HYPE-USD+0.0025%1h94.561−0.006%$499K$2.8M20xas long as short
Phemex HYPEUSDT+0.0042%8h94.568+0.001%$12.9M$2.9M50xas long as short
Paradex HYPE-USD-PERP+0.0046%8h94.543−0.025%$338K$154K20xas long as short
SoDEX HYPE-USD+0.0048%1h94.561−0.006%$2.1M$1.9M10xas long as short
Coinbase International HYPE-PERP-INTX+0.0064%1h94.570+0.003%$4.7M$6.2M50xas long as short
OKX HYPE-USDT-SWAP+0.0066%8h94.549−0.019%$118.0M$325.8M50xas long as short
Vest HYPE-PERP+0.0074%1h94.594+0.029%—$190K5xas long as short
Gate HYPE_USDT+0.0078%4h94.550−0.018%$50.7M$57.1M75xas long as short
edgeX HYPEUSDC+0.0084%4h94.460−0.113%$5.0M$30.7M30xas long as short
Lighter RH HYPE+0.0096%1h94.560−0.007%$3.2M$10.9M20xas long as short
Popdex HYPEUSDT+0.0096%1h94.543−0.025%$85K$1.2M50xas long as short
Katana Perps HYPE-USD+0.0100%8h94.510−0.060%$28K$1.7M10xas long as short
Nado HYPE-PERP+0.0100%1h94.523−0.046%$7.2M$52.9M10xas long as short
Hyperliquid HYPE+0.0100%1h94.628+0.065%$2.08B$688.0M10xas long as short
Aster HYPEUSDT+0.0100%4h94.560−0.007%$8.9M$37.5M300xas long as short
Pacifica HYPE+0.0100%1h94.544−0.024%$10.2M$14.8M20xas long as short
Binance HYPEUSDT+0.0100%4h94.569+0.002%$379.3M$933.1M75xas long as short
Bulk HYPE-USD+0.0100%1h94.428−0.147%$218K$12K10xas long as short
MEXC HYPE_USDT+0.0100%4h94.562−0.005%$93.6M$85.1M100xas long as short
KuCoin HYPEUSDTM+0.0100%4h94.526−0.043%$47.0M$18.8M75xas long as short
BingX HYPE-USDT+0.0100%4h94.550−0.018%—$52.8M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h94.496−0.075%$7.6M$10.6M20xas long as short
Variational Omni HYPE+0.0100%8h94.362−0.217%$29.6M$54.9M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h94.513−0.057%$7.6M$44.8M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h94.461−0.112%$350K$1.1M50xas long as short
StandX HYPE-USD+0.0100%1h94.519−0.051%$695K$2.7M20xas long as short
SunX HYPE-USDT+0.0100%4h94.652+0.090%$32K$1.6M20xas long as short
HTX HYPE-USDT+0.0100%4h94.650+0.088%$1.4M$6.8M75xas long as short
Extended HYPE-USD+0.0104%1h94.526−0.044%$18.4M$43.1M50xas long as short
Aevo HYPE-PERP+0.0104%1h94.540−0.029%$400K$153K20xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0150% / S +0.0022%1h94.595+0.029%$1.4M—100xas long as short
Injective HYPE/USDC PERP+0.0185%1h94.740+0.183%$31K$340K12xas long as short
Kraken Futures PF_HYPEUSD+0.0222%1h94.597+0.031%$20.3M$30.2M50xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0236%1h94.658+0.096%$7.5M$4.4M50xas long as short
RISEx HYPE/USDC+0.0249%1h94.560−0.008%$3.2M$6.4M20xas long as short
Reya HYPERUSDPERP+0.0272%1h94.534−0.035%$83K$121K15xas long as short
BloFin HYPE-USDTshort+0.0340%4h94.490−0.081%$17.1M$12.4M75x