HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0022%/8h= +2.4% APRnext payment +$0.03 per $10,000 · paid last 24h −0.015%

Price spread now: Popdex against Phoenix+0.027%7-day average −0.097% · 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−$7as in the Price arb table

costs, in and out, $10k−$190.189% of the position

Long on Phoenix Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.116%−$12 on $10k

Price spread, last 7 days−0.171%−$17 · spread now +0.027%, 7d avg −0.097%

Together, before fees−0.287%−$29 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Popdex is 0.124% dearer against Phoenix than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of −0.097%. Mind the row above: over the last 4 days funding on this pair cost −0.116%, 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	93.056	0.0026	pay 0.0003% / 1h	11m 29s	$208K	$1.2M	10x
Short	Popdex HYPEUSDT	93.081	0.0048	get 0.0006% / 1h	11m 29s	$76K	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now +0.027%Rate

Funding earned: $4.66
Price spread: +0.027% → −0.097%: $12.36
Slippage, 4 orders: −$5.52
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$1.9
Costs to cover: 0.189%
Break-even: 9.9 days

Slippage from Phoenix: live order book, 2 min ago; Popdex: live order book, 3 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, 2 min ago	1.18 bp	5.7 bp −$6	10.9 bp −$109	doesn't fit	doesn't fit
Sell Popdex live order book, 3 min ago	0.11 bp	3.5 bp −$3	5.6 bp −$56	50.6 bp −$5,061	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	−0.1800%	1h	93.146	+0.097%	$194K	$231K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0310%	1h	93.023	−0.036%	$22K	$21K	10x	as long as short
Arcus HYPE-USD	−0.0194%	1h	93.045	−0.012%	$1.1M	$3.9M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.053	−0.003%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0053%	4h	93.023	−0.035%	$146K	$674K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.075	+0.021%	$128K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.065	+0.010%	$22K	$293K	10x	as long as short
Ondo Perps HYPE-USD.P	+0.0001%	1h	92.970	−0.092%	$700K	$1.1M	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.055	−0.001%	$62K	—	150x	as long as short
Bullet HYPE-USD	+0.0012%	1h	93.017	−0.042%	$111K	$578K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange HYPEUSD	+0.0016%	1h	93.108	+0.056%	$87K	$365K	20x	as long as short
Phoenix HYPElong	+0.0026%	1h	93.056	long leg	$208K	$1.2M	10x
Bybit HYPEUSDT	+0.0027%	8h	93.070	+0.015%	$317.5M	$284.4M	75x	as long as short
Phemex HYPEUSDT	+0.0029%	8h	93.021	−0.038%	$12.6M	$2.7M	50x	as long as short
Bitget HYPEUSDT	+0.0036%	4h	93.079	+0.025%	$225.2M	$98.8M	75x	as long as short
Popdex HYPEUSDTshort	+0.0048%	1h	93.081	+0.027%	$76K	$1.1M	50x
Gate HYPE_USDT	+0.0058%	4h	93.081	+0.027%	$45.5M	$54.7M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0096%	8h	93.109	+0.057%	$339K	$162K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.063	+0.008%	$16.0M	$62.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.073	+0.018%	$3.1M	$11.6M	20x	as long as short
edgeX HYPEUSDC	+0.0099%	4h	93.100	+0.047%	$4.9M	$29.7M	30x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.070	+0.015%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.037	−0.020%	$6.8M	$46.5M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.100	+0.047%	$2.03B	$670.0M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.082	+0.028%	$8.7M	$36.4M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.103	+0.051%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.081	+0.027%	$373.6M	$909.7M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.078	+0.024%	$114.0M	$305.3M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.125	+0.074%	$203K	$3K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.065	+0.010%	$91.5M	$81.4M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.062	+0.006%	$46.1M	$18.5M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.071	+0.016%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.070	+0.015%	$7.3M	$11.2M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.999	−0.062%	$28.6M	$56.8M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.156	+0.108%	$7.5M	$46.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.126	+0.075%	$342K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.097	+0.044%	$665K	$2.9M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.120	+0.069%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.106	+0.054%	$488K	$2.7M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.046	−0.011%	$79K	$167K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.024	−0.034%	$16.0M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.094	+0.041%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.037	−0.020%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.167	+0.119%	$1.4M	$6.3M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.060	+0.004%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.036	−0.021%	$393K	$164K	20x	as long as short
Kalshi KXHYPEPERP	+0.0126%	8h	93.097	+0.044%	$1.8M	$5.5M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.220	+0.176%	$4.7M	$5.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0196%	1h	93.120	+0.069%	$20.7M	$29.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0242%	1h	93.410	+0.380%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0266%	1h	93.085	+0.031%	$79K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	93.053	−0.003%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.113	+0.061%	$16.8M	$11.8M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0491%	1h	93.135	+0.085%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0598%	1h	93.141	+0.091%	$3.2M	$6.3M	20x	as long as short