Funding you earn now, next payment 23:00 UTC+0.0091%/8h= +10.0% APRpaid last 24h −0.037%
Price spread now: GRVT against Phoenix+0.033%7-day average −0.093% · you sell dearer than you buy
Net, funding: paid 7d − costs−$50as in the Funding arb table
Net, price: spread back to 7d avg − costs−$9as in the Price arb table
costs, in and out, $10k−$210.212% of the position
Funding, last 7 days−0.283%−$28 on $10k
+Price spread, last 7 days−0.160%−$16 · spread now +0.033%, 7d avg −0.093%
=Together, before fees−0.443%+ Points / potential airdropGRVT: Active · farm board−$44 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and GRVT is 0.126% dearer against Phoenix than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of −0.093%. Mind the row above: over the last 7 days funding on this pair cost −0.283%, 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 | 93.755 | 0.0009 | pay 0.0001% / 1h | 30m 39s | $215K | $1.2M | 10x |
| Short | GRVT HYPE_USDT_Perp | 93.786 | 0.0100 | get 0.0050% / 4h | 30m 39s | $7.6M | $45.0M | 10x |
Phoenix HYPE
GRVT HYPE_USDT_PerpFunding history
latest
Range statsloading…
Price spread between the two exchanges
GRVT 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
- $19.21
- Price spread: +0.033% → −0.093%
- $12.63
- Slippage, 4 orders
- −$5.22
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee GRVT: 4.5 bp × 2 orders
- −$9
- Net
- $10.62
- Costs to cover
- 0.212%
- Break-even
- 3.1 days
Slippage from Phoenix: live order book, 3 min ago; GRVT: live order book, 4 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, 3 min ago | 1.28 bp | 5.9 bp −$6 | 11.6 bp −$116 | doesn't fit | doesn't fit |
| Sell GRVT live order book, 4 min ago | 0.05 bp | 4.6 bp −$5 | 5.7 bp −$57 | doesn't fit | 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 | −0.0792% | 1h | 93.621 | −0.143% | $198K | $230K | 7x | as long as short |
| Aftermath Perps HYPEUSD | −0.0350% | 1h | 93.901 | +0.156% | $22K | $22K | 10x | as long as short |
| Arcus HYPE-USD | −0.0233% | 1h | 93.532 | −0.238% | $1.2M | $3.8M | 10x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 93.600 | −0.165% | $3K | $331 | 25x | as long as short |
| Ondo Perps HYPE-USD.P | −0.0060% | 1h | 93.570 | −0.197% | $703K | $910K | 10x | as long as short |
| 01 Exchange HYPEUSD | −0.0032% | 1h | 93.619 | −0.145% | $87K | $365K | 20x | as long as short |
| Derive HYPE-PERP | −0.0017% | 1h | 93.543 | −0.226% | $16.4M | $7.1M | 10x | as long as short |
| dYdX HYPE-USD | 0.0000% | 1h | 93.583 | −0.184% | $127K | $30K | 5x | as long as short |
| Perpl HYPE | 0.0000% | 43m | 93.591 | −0.175% | $23K | $329K | 10x | as long as short |
| gTrade (Gains Network) HYPE/USD | L +0.0002% / S −0.0003% | 1h | 93.634 | −0.129% | $26K | — | 150x | as long as short |
Hibachi HYPE/USDT-P
Aftermath Perps HYPEUSD
Arcus HYPE-USD
Hotstuff HYPE-PERP
Ondo Perps HYPE-USD.P
01 Exchange HYPEUSD
Derive HYPE-PERP
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 | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_HYPE_USDC | +0.0003% | 4h | 93.613 | −0.151% | $163K | $578K | 20x | as long as short |
| Phoenix HYPElong | +0.0009% | 1h | 93.755 | long leg | $215K | $1.2M | 10x | |
| Aster HYPEUSDT | +0.0015% | 4h | 93.581 | −0.186% | $8.9M | $36.0M | 300x | as long as short |
| Bybit HYPEUSDT | +0.0019% | 8h | 93.640 | −0.123% | $321.7M | $283.4M | 75x | as long as short |
| Binance HYPEUSDT | +0.0057% | 4h | 93.639 | −0.124% | $383.1M | $895.1M | 75x | as long as short |
| MEXC HYPE_USDT | +0.0058% | 4h | 93.595 | −0.171% | $87.4M | $81.7M | 100x | as long as short |
| Phemex HYPEUSDT | +0.0072% | 8h | 93.638 | −0.125% | $12.8M | $2.6M | 50x | as long as short |
| edgeX HYPEUSDC | +0.0080% | 4h | 93.817 | +0.066% | $5.1M | $29.9M | 30x | as long as short |
| Gate HYPE_USDT | +0.0082% | 4h | 93.611 | −0.154% | $44.5M | $59.1M | 75x | as long as short |
| Lighter HYPE | +0.0096% | 1h | 93.628 | −0.135% | $18.8M | $60.0M | 20x | as long as short |
| Lighter RH HYPE | +0.0096% | 1h | 93.583 | −0.183% | $3.0M | $12.3M | 20x | as long as short |
| Popdex HYPEUSDT | +0.0096% | 1h | 93.641 | −0.122% | $63K | $1.2M | 50x | as long as short |
| Aevo HYPE-PERP | +0.0096% | 1h | 93.608 | −0.157% | $398K | $318K | 20x | as long as short |
| Paradex HYPE-USD-PERP | +0.0099% | 8h | 93.621 | −0.142% | $340K | $171K | 20x | as long as short |
| Katana Perps HYPE-USD | +0.0099% | 8h | 93.600 | −0.165% | $43K | $1.6M | 10x | as long as short |
| Nado HYPE-PERP | +0.0100% | 1h | 93.571 | −0.196% | $5.7M | $44.4M | 10x | as long as short |
| Pacifica HYPE | +0.0100% | 1h | 93.618 | −0.146% | $10.1M | $14.5M | 20x | as long as short |
| OKX HYPE-USDT-SWAP | +0.0100% | 8h | 93.643 | −0.119% | $115.2M | $320.1M | 50x | as long as short |
| Bulk HYPE-USD | +0.0100% | 1h | 93.625 | −0.139% | $204K | $7K | 10x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 93.588 | −0.178% | $46.4M | $18.5M | 75x | as long as short |
| Bitget HYPEUSDT | +0.0100% | 4h | 93.623 | −0.141% | $226.7M | $102.7M | 75x | as long as short |
| BingX HYPE-USDT | +0.0100% | 4h | 93.623 | −0.141% | — | $54.1M | — | as long as short |
| Backpack HYPE_USDC_PERP | +0.0100% | 1h | 93.607 | −0.158% | $7.8M | $10.5M | 20x | as long as short |
| Variational Omni HYPE | +0.0100% | 8h | 93.564 | −0.203% | $31.2M | $53.9M | — | as long as short |
| GRVT HYPE_USDT_Perpshort | +0.0100% | 4h | 93.786 | +0.033% | $7.6M | $45.0M | 10x | |
| ApeX Omni HYPEUSDT | +0.0100% | 1h | 93.819 | +0.068% | $341K | $1.1M | 50x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 93.752 | −0.003% | $678K | $2.5M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 93.668 | −0.093% | — | $454K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 93.608 | −0.157% | $490K | $2.5M | 20x | as long as short |
| Bullet HYPE-USD | +0.0100% | 1h | 93.596 | −0.169% | $111K | $578K | 20x | as long as short |
| Bluefin HYPE-PERP | +0.0100% | 1h | 93.596 | −0.170% | $76K | $170K | 20x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 93.655 | −0.107% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 93.610 | −0.155% | $2.0M | $2.0M | 10x | as long as short |
| Injective HYPE/USDC PERP | +0.0104% | 1h | 94.410 | +0.699% | $31K | $338K | 12x | as long as short |
| Extended HYPE-USD | +0.0104% | 1h | 93.611 | −0.154% | $18.3M | $42.8M | 50x | as long as short |
| Kalshi KXHYPEPERP | +0.0131% | 8h | 93.733 | −0.023% | $1.9M | $5.0M | 2.3x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0152% | 1h | 93.650 | −0.112% | $4.9M | $5.7M | 50x | as long as short |
| HTX HYPE-USDT | +0.0217% | 4h | 93.768 | +0.014% | $1.5M | $7.8M | 75x | as long as short |
| BloFin HYPE-USDT | +0.0237% | 4h | 93.601 | −0.164% | $17.0M | $12.6M | 75x | as long as short |
| Reya HYPERUSDPERP | +0.0249% | 1h | 93.598 | −0.168% | $77K | $142K | 15x | as long as short |
| RISEx HYPE/USDC | +0.0284% | 1h | 93.676 | −0.084% | $2.8M | $6.9M | 20x | as long as short |
| Hyperliquid HYPE | +0.0291% | 1h | 93.627 | −0.137% | $2.03B | $676.0M | 10x | as long as short |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0337% / S −0.0163% | 1h | 93.636 | −0.127% | $1.4M | — | 100x | as long as short |
| Deribit HYPE_USDC-PERPETUAL | +0.0348% | 1h | 93.702 | −0.057% | $7.4M | $4.6M | 50x | as long as short |
| Kraken Futures PF_HYPEUSD | +0.0579% | 1h | 93.700 | −0.059% | $20.9M | $29.4M | 50x | as long as short |
Orderly PERP_HYPE_USDC
Aster HYPEUSDT
Bybit HYPEUSDT
Binance HYPEUSDT
MEXC HYPE_USDT
Phemex HYPEUSDT
edgeX HYPEUSDC
Gate HYPE_USDT
Lighter HYPE
Lighter RH HYPE
Popdex HYPEUSDT
Aevo HYPE-PERP
Paradex HYPE-USD-PERP
Katana Perps HYPE-USD
Nado HYPE-PERP
Pacifica HYPE
OKX HYPE-USDT-SWAP
Bulk HYPE-USD
KuCoin HYPEUSDTM
Bitget HYPEUSDT
BingX HYPE-USDT
Backpack HYPE_USDC_PERP
Variational Omni HYPE
ApeX Omni HYPEUSDT
StandX HYPE-USD
Vest HYPE-PERP
Polymarket Perps HYPE-USD
Bullet HYPE-USD
Bluefin HYPE-PERP
SunX HYPE-USDT
SoDEX HYPE-USD
Injective HYPE/USDC PERP
Extended HYPE-USD
Kalshi KXHYPEPERP
Coinbase International HYPE-PERP-INTX
HTX HYPE-USDT
BloFin HYPE-USDT
Reya HYPERUSDPERP
RISEx HYPE/USDC
Hyperliquid HYPE
GMX HYPE/USD [WBTC.b-USDC]
Deribit HYPE_USDC-PERPETUAL
Kraken Futures PF_HYPEUSD