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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 22:00 UTC+0.0056%/8h= +6.1% APRpaid last 24h −0.024%
Price spread now: MEXC against Phoenix−0.280%7-day average −0.098% · you buy dearer than you sell
Net, funding: paid 7d − costs−$46as in the Funding arb table
Net, price: spread back to 7d avg − costs−$36as in the Price arb table
costs, in and out, $10k−$180.179% of the position
Long on PhoenixShort on MEXC
What this pair did over the last
the charts below follow
Funding, last 7 days−0.281%−$28 on $10k
Price spread, last 7 days+0.166%+$17 · spread now −0.280%, 7d avg −0.098%
Together, before fees−0.115%−$11 on $10k · with fees, hour by hour
Funding pays, the price is against you. MEXC is 0.182% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.280% now, against its 7-day average of −0.098%). If the spread goes back, that is −$18 on $10k: about 11 days of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.281%, so the current rate has only just turned in your favour.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhoenix HYPE93.3740.0034pay 0.0004% / 1h37m 24s$214K$1.2M10x
ShortMEXC HYPE_USDT93.1130.0090get 0.0045% / 4h1h 37m$89.8M$81.8M100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

MEXC 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
$11.7
Price spread: −0.280% → −0.098%
−$18.18
Slippage, 4 orders
−$6.87
Fee Phoenix: 3.5 bp × 2 orders
−$7
Fee MEXC: 2 bp × 2 orders
−$4
Net
−$24.35
Costs to cover
0.179%
Break-even
21.6 days
Slippage from Phoenix: live order book, 1 min ago; MEXC: live order book, 2 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, 1 min ago1.18 bp5.7 bp −$610.7 bp −$107doesn't fitdoesn't fit
Sell MEXC live order book, 2 min ago1.13 bp3.3 bp −$36.2 bp −$6210.5 bp −$1,05028.8 bp −$14.4K

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
Aftermath Perps HYPEUSD−0.0362%1h93.223−0.162%$22K$22K10xas long as short
Hibachi HYPE/USDT-P−0.0184%1h93.205−0.181%$197K$230K7xas long as short
Arcus HYPE-USD−0.0131%1h93.101−0.292%$1.2M$4.0M10xas long as short
Ondo Perps HYPE-USD.P−0.0103%1h93.150−0.240%$700K$924K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.161−0.228%$3K$33125xas long as short
01 Exchange HYPEUSD−0.0016%1h93.125−0.267%$90K$361K20xas long as short
dYdX HYPE-USD0.0000%1h93.189−0.198%$127K$32K5xas long as short
Popdex HYPEUSDT0.0000%1h93.125−0.267%$58K$1.2M50xas long as short
Perpl HYPE0.0000%43m93.144−0.246%$23K$331K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0001%1h93.150−0.240%$20K—150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster HYPEUSDT+0.0008%4h93.125−0.266%$8.9M$36.0M300xas long as short
Bybit HYPEUSDT+0.0027%8h93.110−0.283%$323.2M$286.8M75xas long as short
Orderly PERP_HYPE_USDC+0.0033%4h93.112−0.281%$171K$519K20xas long as short
Phoenix HYPElong+0.0034%1h93.374long leg$214K$1.2M10x
Bullet HYPE-USD+0.0035%1h93.106−0.287%$111K$579K20xas long as short
Gate HYPE_USDT+0.0038%4h93.102−0.291%$43.8M$57.9M75xas long as short
Derive HYPE-PERP+0.0039%1h93.083−0.311%$16.3M$7.1M10xas long as short
Binance HYPEUSDT+0.0089%4h93.105−0.288%$382.7M$892.5M75xas long as short
MEXC HYPE_USDTshort+0.0090%4h93.113−0.280%$89.8M$81.8M100x
Lighter HYPE+0.0096%1h93.189−0.198%$18.5M$58.8M20xas long as short
Lighter RH HYPE+0.0096%1h93.168−0.221%$3.1M$12.1M20xas long as short
Paradex HYPE-USD-PERP+0.0098%8h93.143−0.248%$338K$170K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.150−0.240%$40K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.120−0.273%$5.9M$44.0M10xas long as short
Hyperliquid HYPE+0.0100%1h93.169−0.220%$2.02B$670.1M10xas long as short
Pacifica HYPE+0.0100%1h93.153−0.237%$10.0M$14.3M20xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.101−0.292%$113.8M$313.5M50xas long as short
Bulk HYPE-USD+0.0100%1h93.390+0.017%$204K$10K10xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.155−0.235%$47.2M$18.9M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.121−0.271%$225.7M$102.8M75xas long as short
BingX HYPE-USDT+0.0100%4h93.117−0.275%—$53.8M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.202−0.184%$7.8M$11.2M20xas long as short
Variational Omni HYPE+0.0100%8h93.354−0.021%$29.0M$50.5M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.268−0.114%$7.5M$46.0M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.246−0.137%$412K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.210−0.176%$674K$2.5M20xas long as short
Vest HYPE-PERP+0.0100%1h93.183−0.205%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.158−0.231%$493K$2.5M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.116−0.276%$76K$167K20xas long as short
SunX HYPE-USDT+0.0100%4h93.178−0.210%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.105−0.288%$2.0M$2.0M10xas long as short
Phemex HYPEUSDT+0.0100%8h93.153−0.237%$12.7M$2.6M50xas long as short
Extended HYPE-USD+0.0104%1h93.089−0.305%$18.2M$42.1M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.094−0.300%$396K$318K20xas long as short
edgeX HYPEUSDC+0.0106%4h93.228−0.156%$5.1M$29.6M30xas long as short
Kalshi KXHYPEPERP+0.0108%8h93.288−0.092%$1.9M$5.3M2.3xas long as short
Coinbase International HYPE-PERP-INTX+0.0176%1h93.190−0.197%$4.9M$5.7M50xas long as short
Injective HYPE/USDC PERP+0.0239%1h93.070−0.326%$30K$338K12xas long as short
Reya HYPERUSDPERP+0.0247%1h93.100−0.294%$78K$158K15xas long as short
HTX HYPE-USDT+0.0259%4h93.300−0.079%$1.5M$7.7M75xas long as short
RISEx HYPE/USDC+0.0280%1h93.204−0.182%$2.8M$6.8M20xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0319%1h93.211−0.175%$7.4M$4.6M50xas long as short
BloFin HYPE-USDT+0.0336%4h93.252−0.131%$16.9M$12.5M75xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0340% / S −0.0159%1h93.154−0.235%$1.5M—100xas long as short
Kraken Futures PF_HYPEUSD+0.0466%1h93.200−0.187%$20.8M$28.9M50xas long as short