HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0072%/8h= −7.9% APRnext payment −$0.09 per $10,000 · paid last 24h −0.039%

Price spread now: Ondo Perps against Phoenix−0.137%7-day average −0.111% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Phoenix Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.386%−$39 on $10k

Price spread, last 7 days−0.123%−$12 · spread now −0.137%, 7d avg −0.111%

Together, before fees−0.509%+ Points / potential airdropOndo Perps: Active · farm board−$51 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Ondo Perps is 0.027% cheaper against Phoenix than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.111%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix HYPE	93.278	0.0034	pay 0.0004% / 1h	43m 18s	$216K	$1.2M	10x
Short	Ondo Perps HYPE-USD.P	93.150	−0.0038	pay 0.0005% / 1h	43m 18s	$699K	$924K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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

Position, each leg$Hold fordaysFee PhoenixbpFee Ondo PerpsbpOrdersPrice spread, now −0.137%Rate

Funding earned: −$15.1
Price spread: −0.137% → −0.111%: −$2.65
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$29.75
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Phoenix: live order book, 5 min ago; Ondo Perps: no order-book sample. Net counts fees only.

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	1.18 bp	5.6 bp −$6	10.6 bp −$106	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Aftermath Perps HYPEUSD	−0.0355%	1h	93.211	−0.071%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0131%	1h	93.292	+0.015%	$1.2M	$4.0M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0112%	1h	93.291	+0.014%	$197K	$230K	7x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.339	+0.065%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.Pshort	−0.0038%	1h	93.150	−0.137%	$699K	$924K	10x
01 Exchange HYPEUSD	−0.0008%	1h	93.375	+0.104%	$90K	$362K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.336	+0.062%	$127K	$32K	5x	as long as short
Popdex HYPEUSDT	0.0000%	1h	93.345	+0.072%	$57K	$1.2M	50x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.402	+0.133%	$1.9M	$5.3M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.303	+0.027%	$23K	$331K	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.345	+0.072%	$20K	—	150x	as long as short
Aster HYPEUSDT	+0.0011%	4h	93.340	+0.066%	$8.9M	$36.0M	300x	as long as short
Derive HYPE-PERP	+0.0016%	1h	93.272	−0.007%	$16.3M	$7.1M	10x	as long as short
Bybit HYPEUSDT	+0.0031%	8h	93.380	+0.109%	$324.3M	$286.8M	75x	as long as short
Phoenix HYPElong	+0.0034%	1h	93.278	long leg	$216K	$1.2M	10x
Orderly PERP_HYPE_USDC	+0.0037%	4h	93.316	+0.041%	$171K	$519K	20x	as long as short
Gate HYPE_USDT	+0.0070%	4h	93.325	+0.050%	$43.8M	$57.7M	75x	as long as short
Bullet HYPE-USD	+0.0082%	1h	93.301	+0.025%	$111K	$578K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.388	+0.118%	$18.5M	$58.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.357	+0.085%	$3.1M	$12.1M	20x	as long as short
Binance HYPEUSDT	+0.0096%	4h	93.363	+0.091%	$383.7M	$891.6M	75x	as long as short
MEXC HYPE_USDT	+0.0098%	4h	93.352	+0.079%	$90.4M	$81.6M	100x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.342	+0.069%	$339K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.320	+0.045%	$40K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.344	+0.071%	$5.9M	$44.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.359	+0.087%	$2.03B	$672.1M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.324	+0.049%	$10.0M	$14.3M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.364	+0.092%	$114.1M	$314.4M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.884	−0.422%	$203K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.352	+0.079%	$47.3M	$18.9M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.329	+0.055%	$226.3M	$102.8M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.310	+0.034%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.294	+0.017%	$7.9M	$11.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.236	−0.045%	$28.9M	$50.6M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.228	−0.053%	$7.5M	$45.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.375	+0.104%	$413K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.274	−0.004%	$675K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.337	+0.063%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.364	+0.092%	$494K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.311	+0.035%	$76K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.391	+0.121%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.328	+0.054%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.340	+0.066%	$12.7M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.305	+0.029%	$18.2M	$42.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.325	+0.051%	$397K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0107%	4h	93.311	+0.035%	$5.1M	$29.6M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.390	+0.120%	$4.9M	$5.7M	50x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	93.250	−0.030%	$30K	$338K	12x	as long as short
Reya HYPERUSDPERP	+0.0246%	1h	93.317	+0.042%	$78K	$158K	15x	as long as short
HTX HYPE-USDT	+0.0274%	4h	93.500	+0.238%	$1.5M	$7.7M	75x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.399	+0.130%	$2.8M	$6.8M	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0328%	1h	93.412	+0.144%	$7.4M	$4.6M	50x	as long as short
BloFin HYPE-USDT	+0.0336%	4h	93.332	+0.058%	$16.9M	$12.5M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0340% / S −0.0159%	1h	93.341	+0.067%	$1.5M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0465%	1h	93.444	+0.178%	$20.8M	$28.6M	50x	as long as short