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

HYPE

all HYPE markets
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Alert: funding
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Alert: spread
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Funding you earn now, next payment 00:00 UTC−0.0119%/8h= −13.0% APRnext payment −$0.15 per $10,000 · paid last 24h −0.024%
Price spread now: Bullet against Phoenix+0.210%62s7-day average −0.072% · 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—prices read too far apart to compare
costs, in and out, $10k−$280.283% of the position
Long on PhoenixShort on Bullet
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.113%−$11 on $10k
Price spread, last 3 days (all we have)−0.221%−$22 · spread now +0.210%, 7d avg −0.072%
Together, before fees−0.334%−$33 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Bullet is 0.282% dearer against Phoenix than usual: you sell high and buy low (spread +0.210% now, against its 7-day average of −0.072%): +$28 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 7.9 days. The two prices were read 62 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhoenix HYPE93.6780.0034pay 0.0004% / 1h16m 06s$218K$1.2M10x
ShortBullet HYPE-USD93.875−0.0085pay 0.0011% / 1h16m 06s$113K$581K20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bullet 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
−$24.92
Price spread: +0.210% → −0.072%
$28.25
Slippage, 4 orders
−$13.31
Fee Phoenix: 3.5 bp × 2 orders
−$7
Fee Bullet: 4 bp × 2 orders
−$8
Net
−$24.98
Costs to cover
0.283%
Break-even
never at this rate
Slippage from Phoenix: live order book, 2 min ago; Bullet: live order book, 58 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 ago1.17 bp5.6 bp −$610.6 bp −$106doesn't fitdoesn't fit
Sell Bullet live order book, 58 min ago0.27 bp10.0 bp −$1014.3 bp −$143doesn't fitdoesn'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−0.1280%1h93.530−0.158%$198K$228K7xas long as short
Arcus HYPE-USD−0.0625%1h93.701+0.025%$1.3M$3.9M10xas long as short
Aftermath Perps HYPEUSD−0.0197%1h93.835+0.167%$22K$21K10xas long as short
Ondo Perps HYPE-USD.P−0.0134%1h93.730+0.056%$708K$958K10xas long as short
dYdX HYPE-USD−0.0103%1h93.818+0.150%$129K$31K5xas long as short
01 Exchange HYPEUSD−0.0088%1h93.855+0.189%$85K$361K20xas long as short
Bullet HYPE-USDshort−0.0085%1h93.875+0.210%$113K$581K20x
Hotstuff HYPE-PERP−0.0080%1h93.610−0.073%$3K$33125xas long as short
Phemex HYPEUSDT−0.0051%8h93.936+0.275%$12.8M$2.6M50xas long as short
Gate HYPE_USDT−0.0048%4h93.978+0.320%$44.5M$60.1M75xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Orderly PERP_HYPE_USDC−0.0027%4h93.892+0.228%$159K$645K20xas long as short
Bybit HYPEUSDT−0.0013%8h93.970+0.312%$323.4M$281.1M75xas long as short
Aster HYPEUSDT−0.0004%4h93.898+0.234%$8.9M$36.2M300xas long as short
Perpl HYPE0.0000%43m93.792+0.121%$23K$326K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0003%1h93.926+0.265%$27K—150xas long as short
Derive HYPE-PERP+0.0009%1h93.884+0.220%$16.4M$7.3M10xas long as short
Phoenix HYPElong+0.0034%1h93.678long leg$218K$1.2M10x
MEXC HYPE_USDT+0.0042%4h93.950+0.290%$88.5M$83.2M100xas long as short
Binance HYPEUSDT+0.0042%4h93.993+0.336%$383.4M$896.1M75xas long as short
edgeX HYPEUSDC+0.0057%4h93.961+0.302%$5.1M$30.0M30xas long as short
OKX HYPE-USDT-SWAP+0.0074%8h93.988+0.331%$116.1M$317.3M50xas long as short
Aevo HYPE-PERP+0.0088%1h93.937+0.277%$400K$180K20xas long as short
Bluefin HYPE-PERP+0.0090%1h93.939+0.279%$76K$171K20xas long as short
Lighter HYPE+0.0096%1h93.974+0.316%$19.1M$60.1M20xas long as short
Lighter RH HYPE+0.0096%1h93.954+0.295%$3.0M$12.2M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.849+0.183%$65K$1.2M50xas long as short
Paradex HYPE-USD-PERP+0.0099%8h93.871+0.206%$341K$165K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.830+0.162%$29K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.805+0.136%$6.6M$44.8M10xas long as short
Hyperliquid HYPE+0.0100%1h93.998+0.342%$2.05B$676.2M10xas long as short
Pacifica HYPE+0.0100%1h93.835+0.168%$10.2M$14.6M20xas long as short
Bulk HYPE-USD+0.0100%1h93.528−0.160%$204K$12K10xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.956+0.297%$46.8M$18.3M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.989+0.332%$227.8M$101.0M75xas long as short
BingX HYPE-USDT+0.0100%4h93.963+0.304%—$54.0M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.963+0.304%$7.7M$10.3M20xas long as short
Variational Omni HYPE+0.0100%8h93.810+0.141%$31.4M$54.1M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.991+0.334%$7.6M$46.1M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.940+0.280%$340K$1.1M50xas long as short
StandX HYPE-USD+0.0100%1h93.666−0.013%$677K$2.6M20xas long as short
Vest HYPE-PERP+0.0100%1h93.816+0.147%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.874+0.209%$475K$2.5M20xas long as short
SunX HYPE-USDT+0.0100%4h94.014+0.359%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.952+0.292%$2.0M$2.0M10xas long as short
Extended HYPE-USD+0.0104%1h93.967+0.309%$18.3M$45.5M50xas long as short
Coinbase International HYPE-PERP-INTX+0.0144%1h93.980+0.322%$4.9M$5.5M50xas long as short
BloFin HYPE-USDT+0.0168%4h93.581−0.104%$17.0M$12.1M75xas long as short
Injective HYPE/USDC PERP+0.0205%1h94.490+0.867%$31K$338K12xas long as short
RISEx HYPE/USDC+0.0222%1h93.865+0.200%$2.7M$6.8M20xas long as short
Kalshi KXHYPEPERP+0.0227%8h93.872+0.207%$1.9M$5.1M2.3xas long as short
Reya HYPERUSDPERP+0.0252%1h93.843+0.176%$79K$143K15xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0335% / S −0.0156%1h93.911+0.249%$1.4M—100xas long as short
HTX HYPE-USDT+0.0373%4h94.100+0.450%$1.5M$6.0M75xas long as short
Kraken Futures PF_HYPEUSD+0.0671%1h94.050+0.397%$21.0M$29.8M50xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0729%1h94.061+0.409%$7.5M$4.6M50xas long as short