Funding you earn now, next payment 05:00 UTC+0.0074%/8h= +8.1% APRnext payment +$0.09 per $10,000 · paid last 24h −0.011%
Price spread now: Bulk against Phoenix+0.163%7-day average −0.048% · 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+$4as in the Price arb table
costs, in and out, $10k−$170.170% of the position
Funding, last 4 days (all we have)−0.106%−$11 on $10k
+Price spread, last 4 days (all we have)−0.209%−$21 · spread now +0.163%, 7d avg −0.048%
=Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Bulk is 0.211% dearer against Phoenix than usual: you sell high and buy low: +$21 more if the spread goes back to its 7-day average of −0.048%. Mind the row above: over the last 4 days funding on this pair cost −0.106%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix HYPE | 93.462 | 0.0026 | pay 0.0003% / 1h | 42m 45s | $209K | $1.2M | 10x |
| Short | Bulk HYPE-USD | 93.614 | 0.0100 | get 0.0013% / 1h | 42m 45s | $204K | $3K | 10x |
Phoenix HYPE
Bulk HYPE-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bulk against Phoenix. 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
- $15.61
- Price spread: +0.163% → −0.048%
- $21.08
- Slippage, 4 orders
- −$2.95
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Bulk: 3.5 bp × 2 orders
- −$7
- Net
- $19.74
- Costs to cover
- 0.170%
- Break-even
- from the start
Slippage from Phoenix: live order book, 5 min ago; Bulk: live order book, 6 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, 5 min ago | 0.05 bp | 4.8 bp −$5 | 9.8 bp −$98 | doesn't fit | doesn't fit |
| Sell Bulk live order book, 6 min ago | 0.53 bp | 4.0 bp −$4 | 6.1 bp −$61 | 14.9 bp −$1,486 | 47.3 bp −$23.7K |
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 | −0.1808% | 1h | 93.315 | −0.157% | $196K | $232K | 7x | as long as short |
| Aftermath Perps HYPEUSD | −0.0374% | 1h | 93.489 | +0.029% | $22K | $21K | 10x | as long as short |
| Bullet HYPE-USD | −0.0094% | 1h | 93.330 | −0.141% | $111K | $578K | 20x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 93.433 | −0.031% | $3K | $331 | 25x | as long as short |
| Orderly PERP_HYPE_USDC | −0.0026% | 4h | 93.320 | −0.152% | $146K | $663K | 20x | as long as short |
| 01 Exchange HYPEUSD | −0.0024% | 1h | 93.364 | −0.105% | $87K | $366K | 20x | as long as short |
| Ondo Perps HYPE-USD.P | −0.0006% | 1h | 93.260 | −0.216% | $702K | $1.2M | 10x | as long as short |
| dYdX HYPE-USD | 0.0000% | 1h | 93.409 | −0.056% | $128K | $29K | 5x | as long as short |
| Perpl HYPE | 0.0000% | 43m | 93.337 | −0.134% | $22K | $290K | 10x | as long as short |
| gTrade (Gains Network) HYPE/USD | L +0.0002% / S −0.0002% | 1h | 93.359 | −0.110% | $62K | — | 150x | as long as short |
Hibachi HYPE/USDT-P
Aftermath Perps HYPEUSD
Bullet HYPE-USD
Hotstuff HYPE-PERP
Orderly PERP_HYPE_USDC
01 Exchange HYPEUSD
Ondo Perps HYPE-USD.P
dYdX HYPE-USD
Perpl HYPE
gTrade (Gains Network) HYPE/USDShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Arcus HYPE-USD | +0.0011% | 1h | 93.319 | −0.153% | $1.0M | $3.9M | 10x | as long as short |
| Bitget HYPEUSDT | +0.0018% | 4h | 93.387 | −0.080% | $225.9M | $98.9M | 75x | as long as short |
| Bybit HYPEUSDT | +0.0023% | 8h | 93.295 | −0.179% | $317.2M | $283.6M | 75x | as long as short |
| Phoenix HYPElong | +0.0026% | 1h | 93.462 | long leg | $209K | $1.2M | 10x | |
| Phemex HYPEUSDT | +0.0033% | 8h | 93.366 | −0.103% | $12.6M | $2.7M | 50x | as long as short |
| edgeX HYPEUSDC | +0.0081% | 4h | 93.544 | +0.088% | $5.0M | $30.0M | 30x | as long as short |
| Paradex HYPE-USD-PERP | +0.0095% | 8h | 93.372 | −0.096% | $340K | $162K | 20x | as long as short |
| Lighter HYPE | +0.0096% | 1h | 93.350 | −0.120% | $16.1M | $63.0M | 20x | as long as short |
| Lighter RH HYPE | +0.0096% | 1h | 93.362 | −0.107% | $3.1M | $11.4M | 20x | as long as short |
| Popdex HYPEUSDT | +0.0096% | 1h | 93.333 | −0.138% | $77K | $1.1M | 50x | as long as short |
| Katana Perps HYPE-USD | +0.0099% | 8h | 93.350 | −0.120% | $28K | $1.7M | 10x | as long as short |
| Nado HYPE-PERP | +0.0100% | 1h | 93.362 | −0.108% | $8.0M | $48.5M | 10x | as long as short |
| Hyperliquid HYPE | +0.0100% | 1h | 93.436 | −0.028% | $2.03B | $668.3M | 10x | as long as short |
| Aster HYPEUSDT | +0.0100% | 4h | 93.347 | −0.123% | $8.7M | $36.4M | 300x | as long as short |
| Pacifica HYPE | +0.0100% | 1h | 93.350 | −0.120% | $10.1M | $15.4M | 20x | as long as short |
| Binance HYPEUSDT | +0.0100% | 4h | 93.324 | −0.148% | $374.2M | $911.9M | 75x | as long as short |
| OKX HYPE-USDT-SWAP | +0.0100% | 8h | 93.310 | −0.163% | $114.6M | $309.0M | 50x | as long as short |
| Bulk HYPE-USDshort | +0.0100% | 1h | 93.614 | +0.163% | $204K | $3K | 10x | |
| Gate HYPE_USDT | +0.0100% | 4h | 93.375 | −0.093% | $46.5M | $54.1M | 75x | as long as short |
| MEXC HYPE_USDT | +0.0100% | 4h | 93.331 | −0.140% | $90.9M | $80.4M | 100x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 93.370 | −0.098% | $46.1M | $18.9M | 75x | as long as short |
| BingX HYPE-USDT | +0.0100% | 4h | 93.394 | −0.073% | — | $53.8M | — | as long as short |
| Backpack HYPE_USDC_PERP | +0.0100% | 1h | 93.386 | −0.081% | $7.3M | $10.9M | 20x | as long as short |
| Variational Omni HYPE | +0.0100% | 8h | 93.419 | −0.046% | $28.7M | $56.6M | — | as long as short |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 93.468 | +0.006% | $7.5M | $47.1M | 10x | as long as short |
| ApeX Omni HYPEUSDT | +0.0100% | 1h | 93.432 | −0.032% | $343K | $1.0M | 50x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 93.453 | −0.010% | $669K | $2.9M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 93.410 | −0.056% | — | $243K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 93.358 | −0.111% | $502K | $2.7M | 20x | as long as short |
| Bluefin HYPE-PERP | +0.0100% | 1h | 93.321 | −0.151% | $79K | $166K | 20x | as long as short |
| Derive HYPE-PERP | +0.0100% | 1h | 93.311 | −0.162% | $16.1M | $7.5M | 10x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 93.316 | −0.156% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 93.325 | −0.147% | $2.0M | $1.9M | 10x | as long as short |
| HTX HYPE-USDT | +0.0100% | 4h | 93.500 | +0.041% | $1.4M | $6.4M | 75x | as long as short |
| Extended HYPE-USD | +0.0104% | 1h | 93.328 | −0.143% | $18.2M | $43.2M | 50x | as long as short |
| Aevo HYPE-PERP | +0.0104% | 1h | 93.321 | −0.151% | $395K | $161K | 20x | as long as short |
| Kalshi KXHYPEPERP | +0.0105% | 8h | 93.414 | −0.051% | $1.8M | $5.6M | 2.3x | as long as short |
| Injective HYPE/USDC PERP | +0.0122% | 1h | 93.330 | −0.141% | $30K | $339K | 12x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0144% | 1h | 93.440 | −0.024% | $4.8M | $5.6M | 50x | as long as short |
| Reya HYPERUSDPERP | +0.0268% | 1h | 93.322 | −0.150% | $80K | $131K | 15x | as long as short |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0332% / S −0.0154% | 1h | 93.355 | −0.115% | $1.4M | — | 100x | as long as short |
| BloFin HYPE-USDT | +0.0340% | 4h | 93.333 | −0.138% | $16.8M | $11.9M | 75x | as long as short |
| Kraken Futures PF_HYPEUSD | +0.0341% | 1h | 93.411 | −0.055% | $20.8M | $29.6M | 50x | as long as short |
| Deribit HYPE_USDC-PERPETUAL | +0.0446% | 1h | 93.427 | −0.037% | $7.5M | $4.0M | 50x | as long as short |
| RISEx HYPE/USDC | +0.0527% | 1h | 93.412 | −0.053% | $3.2M | $6.3M | 20x | as long as short |
Arcus HYPE-USD
Bitget HYPEUSDT
Bybit HYPEUSDT
Phemex HYPEUSDT
edgeX HYPEUSDC
Paradex HYPE-USD-PERP
Lighter HYPE
Lighter RH HYPE
Popdex HYPEUSDT
Katana Perps HYPE-USD
Nado HYPE-PERP
Hyperliquid HYPE
Aster HYPEUSDT
Pacifica HYPE
Binance HYPEUSDT
OKX HYPE-USDT-SWAP
Gate HYPE_USDT
MEXC HYPE_USDT
KuCoin HYPEUSDTM
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
Derive HYPE-PERP
SunX HYPE-USDT
SoDEX HYPE-USD
HTX HYPE-USDT
Extended HYPE-USD
Aevo HYPE-PERP
Kalshi KXHYPEPERP
Injective HYPE/USDC PERP
Coinbase International HYPE-PERP-INTX
Reya HYPERUSDPERP
GMX HYPE/USD [WBTC.b-USDC]
BloFin HYPE-USDT
Kraken Futures PF_HYPEUSD
Deribit HYPE_USDC-PERPETUAL
RISEx HYPE/USDC