Funding you earn now, next payment 05:00 UTC+0.0244%/8h= +26.7% APRnext payment +$0.30 per $10,000 · paid last 24h +0.024%
Price spread now: Reya against Phoenix+0.331%7-day average −0.104% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.092%−$9 on $10k
+Price spread, last 4 days (all we have)−0.394%−$39 · spread now +0.331%, 7d avg −0.104%
=Together, before fees−0.486%+ Points / potential airdropReya: Active · farm board−$49 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Reya is 0.435% dearer against Phoenix than usual: you sell high and buy low: +$44 more if the spread goes back to its 7-day average of −0.104%. Mind the row above: over the last 3 days funding on this pair cost −0.092%, 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 | 93.624 | 0.0026 | pay 0.0003% / 1h | 19m 18s | $208K | $1.2M | 10x |
| Short | Reya HYPERUSDPERP | 93.934 | 0.0270 | get 0.0034% / 1h | 19m 18s | $80K | $127K | 15x |
Phoenix HYPE
Reya HYPERUSDPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Reya 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
- $51.21
- Price spread: +0.331% → −0.104%
- $43.54
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Reya: 3 bp × 2 orders
- −$6
- Net
- $81.75
- Costs to cover
- 0.130%
- Break-even
- from the start
Slippage unknown: Phoenix: live order book, 4 min ago; Reya: 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, 4 min ago | 1.07 bp | 5.6 bp −$6 | 10.5 bp −$105 | doesn't fit | doesn't fit |
| Sell Reya no order-book sample | — | — | — | — | — |
Reya: 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 | |
|---|---|---|---|---|---|---|---|---|
| Hibachi HYPE/USDT-P | −0.1376% | 1h | 93.862 | +0.254% | $199K | $239K | 7x | as long as short |
| Aftermath Perps HYPEUSD | −0.0422% | 1h | 93.521 | −0.110% | $22K | $21K | 10x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 93.906 | +0.301% | $3K | $331 | 25x | as long as short |
| Bullet HYPE-USD | −0.0041% | 1h | 93.921 | +0.317% | $112K | $580K | 20x | as long as short |
| Orderly PERP_HYPE_USDC | −0.0018% | 4h | 93.905 | +0.300% | $146K | $672K | 20x | as long as short |
| dYdX HYPE-USD | 0.0000% | 1h | 93.915 | +0.310% | $129K | $29K | 5x | as long as short |
| 01 Exchange HYPEUSD | 0.0000% | 1h | 93.948 | +0.346% | $88K | $365K | 20x | as long as short |
| Perpl HYPE | 0.0000% | 43m | 93.951 | +0.349% | $22K | $290K | 10x | as long as short |
| gTrade (Gains Network) HYPE/USD | L +0.0002% / S −0.0002% | 1h | 93.956 | +0.354% | $62K | — | 150x | as long as short |
| Arcus HYPE-USD | +0.0011% | 1h | 93.888 | +0.282% | $1.0M | $3.9M | 10x | as long as short |
Hibachi HYPE/USDT-P
Aftermath Perps HYPEUSD
Hotstuff HYPE-PERP
Bullet HYPE-USD
Orderly PERP_HYPE_USDC
dYdX HYPE-USD
01 Exchange HYPEUSD
Perpl HYPE
gTrade (Gains Network) HYPE/USD
Arcus HYPE-USDShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget HYPEUSDT | +0.0014% | 4h | 93.959 | +0.358% | $226.8M | $98.9M | 75x | as long as short |
| Bybit HYPEUSDT | +0.0020% | 8h | 93.924 | +0.320% | $318.8M | $283.1M | 75x | as long as short |
| Phoenix HYPElong | +0.0026% | 1h | 93.624 | long leg | $208K | $1.2M | 10x | |
| Phemex HYPEUSDT | +0.0029% | 8h | 93.881 | +0.275% | $12.8M | $2.8M | 50x | as long as short |
| Ondo Perps HYPE-USD.P | +0.0047% | 1h | 93.870 | +0.263% | $704K | $1.2M | 10x | as long as short |
| edgeX HYPEUSDC | +0.0094% | 4h | 93.626 | +0.002% | $5.0M | $29.9M | 30x | as long as short |
| Paradex HYPE-USD-PERP | +0.0094% | 8h | 93.987 | +0.387% | $342K | $157K | 20x | as long as short |
| Lighter HYPE | +0.0096% | 1h | 93.952 | +0.351% | $16.2M | $63.3M | 20x | as long as short |
| Lighter RH HYPE | +0.0096% | 1h | 93.952 | +0.350% | $3.1M | $11.5M | 20x | as long as short |
| Popdex HYPEUSDT | +0.0096% | 1h | 93.930 | +0.327% | $73K | $1.2M | 50x | as long as short |
| Katana Perps HYPE-USD | +0.0100% | 8h | 93.750 | +0.135% | $28K | $1.7M | 10x | as long as short |
| Nado HYPE-PERP | +0.0100% | 1h | 93.910 | +0.306% | $7.8M | $48.5M | 10x | as long as short |
| Hyperliquid HYPE | +0.0100% | 1h | 93.986 | +0.387% | $2.05B | $670.6M | 10x | as long as short |
| Aster HYPEUSDT | +0.0100% | 4h | 93.948 | +0.346% | $8.8M | $36.4M | 300x | as long as short |
| Pacifica HYPE | +0.0100% | 1h | 93.970 | +0.370% | $10.1M | $15.4M | 20x | as long as short |
| Binance HYPEUSDT | +0.0100% | 4h | 93.949 | +0.347% | $376.7M | $915.9M | 75x | as long as short |
| OKX HYPE-USDT-SWAP | +0.0100% | 8h | 93.948 | +0.346% | $115.8M | $313.3M | 50x | as long as short |
| Bulk HYPE-USD | +0.0100% | 1h | 93.358 | −0.284% | $216K | $15K | 10x | as long as short |
| Gate HYPE_USDT | +0.0100% | 4h | 93.934 | +0.331% | $47.3M | $54.6M | 75x | as long as short |
| MEXC HYPE_USDT | +0.0100% | 4h | 93.939 | +0.336% | $90.5M | $81.7M | 100x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 93.936 | +0.333% | $46.4M | $18.9M | 75x | as long as short |
| BingX HYPE-USDT | +0.0100% | 4h | 93.939 | +0.336% | — | $53.9M | — | as long as short |
| Backpack HYPE_USDC_PERP | +0.0100% | 1h | 93.925 | +0.321% | $7.2M | $10.7M | 20x | as long as short |
| Variational Omni HYPE | +0.0100% | 8h | 93.699 | +0.080% | $28.6M | $56.2M | — | as long as short |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 93.275 | −0.373% | $7.5M | $47.3M | 10x | as long as short |
| ApeX Omni HYPEUSDT | +0.0100% | 1h | 93.227 | −0.424% | $342K | $997K | 50x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 93.924 | +0.320% | $672K | $2.8M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 93.976 | +0.376% | — | $243K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 93.953 | +0.351% | $482K | $2.7M | 20x | as long as short |
| Bluefin HYPE-PERP | +0.0100% | 1h | 93.959 | +0.358% | $79K | $166K | 20x | as long as short |
| Derive HYPE-PERP | +0.0100% | 1h | 93.933 | +0.330% | $16.2M | $7.4M | 10x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 94.003 | +0.405% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 93.944 | +0.342% | $2.0M | $1.9M | 10x | as long as short |
| HTX HYPE-USDT | +0.0100% | 4h | 94.051 | +0.456% | $1.4M | $6.5M | 75x | as long as short |
| Extended HYPE-USD | +0.0104% | 1h | 93.925 | +0.321% | $18.2M | $43.2M | 50x | as long as short |
| Aevo HYPE-PERP | +0.0104% | 1h | 93.948 | +0.346% | $397K | $158K | 20x | as long as short |
| Kalshi KXHYPEPERP | +0.0113% | 8h | 93.839 | +0.230% | $1.8M | $5.6M | 2.3x | as long as short |
| Injective HYPE/USDC PERP | +0.0122% | 1h | 94.080 | +0.487% | $30K | $339K | 12x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0144% | 1h | 93.950 | +0.348% | $4.6M | $5.8M | 50x | as long as short |
| Reya HYPERUSDPERPshort | +0.0270% | 1h | 93.934 | +0.331% | $80K | $127K | 15x | |
| Deribit HYPE_USDC-PERPETUAL | +0.0293% | 1h | 94.028 | +0.432% | $7.5M | $4.1M | 50x | as long as short |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0333% / S −0.0154% | 1h | 93.946 | +0.344% | $1.4M | — | 100x | as long as short |
| Kraken Futures PF_HYPEUSD | +0.0339% | 1h | 94.012 | +0.415% | $21.0M | $29.5M | 50x | as long as short |
| BloFin HYPE-USDT | +0.0340% | 4h | 93.730 | +0.113% | $16.8M | $12.0M | 75x | as long as short |
| RISEx HYPE/USDC | +0.0527% | 1h | 93.956 | +0.355% | $3.2M | $6.3M | 20x | as long as short |
Bitget HYPEUSDT
Bybit HYPEUSDT
Phemex HYPEUSDT
Ondo Perps HYPE-USD.P
edgeX HYPEUSDC
Paradex HYPE-USD-PERP
Lighter HYPE
Lighter RH HYPE
Popdex HYPEUSDT
Katana Perps HYPE-USD
Nado HYPE-PERP
Hyperliquid HYPE
Aster HYPEUSDT
Pacifica HYPE
Binance HYPEUSDT
OKX HYPE-USDT-SWAP
Bulk HYPE-USD
Gate HYPE_USDT
MEXC HYPE_USDT
KuCoin HYPEUSDTM
BingX HYPE-USDT
Backpack HYPE_USDC_PERP
Variational Omni HYPE
GRVT HYPE_USDT_Perp
ApeX Omni HYPEUSDT
StandX HYPE-USD
Vest HYPE-PERP
Polymarket Perps HYPE-USD
Bluefin HYPE-PERP
Derive HYPE-PERP
SunX HYPE-USDT
SoDEX HYPE-USD
HTX HYPE-USDT
Extended HYPE-USD
Aevo HYPE-PERP
Kalshi KXHYPEPERP
Injective HYPE/USDC PERP
Coinbase International HYPE-PERP-INTX
Deribit HYPE_USDC-PERPETUAL
GMX HYPE/USD [WBTC.b-USDC]
Kraken Futures PF_HYPEUSD
BloFin HYPE-USDT
RISEx HYPE/USDC