Funding you earn now, next payment 20:00 UTC+0.0006%/8h= +0.6% APRpaid last 24h −0.019%
Price spread now: Variational Omni against Phoenix+0.024%84s7-day average −0.132% · 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)−0.117%−$12 on $10k
+Price spread, last 7 days−0.166%−$17 · spread now +0.024%, 7d avg −0.132%
=Together, before fees−0.282%+ Points / potential airdropVariational Omni: Active · farm board−$28 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.156% dearer against Phoenix than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of −0.132%. The two prices were read 84 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix HYPE | 93.444 | 0.0094 | pay 0.0012% / 1h | 58m 01s | $216K | $1.1M | 10x |
| Short | Variational Omni HYPE | 93.466 | 0.0100 | get 0.0100% / 8h | 2h 58m | $28.9M | $50.1M | — |
Phoenix HYPE
Variational Omni HYPEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni 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
- $1.19
- Price spread: +0.024% → −0.132%
- $15.57
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- $9.76
- Costs to cover
- 0.070%
- Break-even
- from the start
Slippage unknown: Phoenix: live order book, 5 min ago; Variational Omni: RFQ quote, 1 min ago. 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 | 5.7 bp −$6 | 10.7 bp −$107 | doesn't fit | doesn't fit |
| Sell Variational Omni RFQ quote, 1 min ago | 0.42 bp | doesn't fit | 4.5 bp −$45 | 18.9 bp −$1,892 | 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 | −0.1368% | 1h | 93.352 | −0.099% | $197K | $240K | 7x | as long as short |
| Ondo Perps HYPE-USD.P | −0.0154% | 1h | 93.290 | −0.165% | $700K | $952K | 10x | as long as short |
| 01 Exchange HYPEUSD | −0.0104% | 1h | 93.310 | −0.143% | $89K | $342K | 20x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 93.371 | −0.078% | $3K | $331 | 25x | as long as short |
| Aftermath Perps HYPEUSD | −0.0068% | 1h | 93.398 | −0.049% | $22K | $22K | 10x | as long as short |
| Popdex HYPEUSDT | −0.0008% | 1h | 93.301 | −0.153% | $56K | $1.2M | 50x | as long as short |
| Bullet HYPE-USD | −0.0006% | 1h | 93.292 | −0.163% | $112K | $583K | 20x | as long as short |
| Gate HYPE_USDT | −0.0006% | 4h | 93.230 | −0.229% | $44.1M | $56.1M | 75x | as long as short |
| SoDEX HYPE-USD | −0.0003% | 1h | 93.247 | −0.211% | $2.0M | $2.0M | 10x | as long as short |
| dYdX HYPE-USD | 0.0000% | 1h | 93.425 | −0.020% | $127K | $33K | 5x | as long as short |
Hibachi HYPE/USDT-P
Ondo Perps HYPE-USD.P
01 Exchange HYPEUSD
Hotstuff HYPE-PERP
Aftermath Perps HYPEUSD
Popdex HYPEUSDT
Bullet HYPE-USD
Gate HYPE_USDT
SoDEX HYPE-USD
dYdX HYPE-USDShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kalshi KXHYPEPERP | 0.0000% | 8h | 93.452 | +0.009% | $1.9M | $5.4M | 2.3x | as long as short |
| Perpl HYPE | 0.0000% | 43m | 93.356 | −0.094% | $24K | $343K | 10x | as long as short |
| gTrade (Gains Network) HYPE/USD | L +0.0002% / S −0.0001% | 1h | 93.311 | −0.143% | $20K | — | 150x | as long as short |
| Aster HYPEUSDT | +0.0008% | 4h | 93.281 | −0.174% | $8.9M | $36.6M | 300x | as long as short |
| Bybit HYPEUSDT | +0.0041% | 8h | 93.250 | −0.208% | $325.0M | $289.5M | 75x | as long as short |
| Bluefin HYPE-PERP | +0.0057% | 1h | 93.273 | −0.183% | $76K | $168K | 20x | as long as short |
| Derive HYPE-PERP | +0.0058% | 1h | 93.225 | −0.234% | $16.4M | $7.1M | 10x | as long as short |
| Orderly PERP_HYPE_USDC | +0.0078% | 4h | 93.298 | −0.156% | $180K | $537K | 20x | as long as short |
| Phoenix HYPElong | +0.0094% | 1h | 93.444 | long leg | $216K | $1.1M | 10x | |
| Lighter HYPE | +0.0096% | 1h | 93.315 | −0.138% | $18.6M | $58.5M | 20x | as long as short |
| Lighter RH HYPE | +0.0096% | 1h | 93.281 | −0.174% | $3.1M | $12.3M | 20x | as long as short |
| Katana Perps HYPE-USD | +0.0100% | 8h | 93.360 | −0.090% | $38K | $1.7M | 10x | as long as short |
| Nado HYPE-PERP | +0.0100% | 1h | 93.332 | −0.120% | $6.0M | $44.6M | 10x | as long as short |
| Hyperliquid HYPE | +0.0100% | 1h | 93.343 | −0.108% | $2.03B | $673.9M | 10x | as long as short |
| Pacifica HYPE | +0.0100% | 1h | 93.360 | −0.090% | $10.0M | $14.5M | 20x | as long as short |
| Binance HYPEUSDT | +0.0100% | 4h | 93.275 | −0.181% | $386.1M | $893.5M | 75x | as long as short |
| OKX HYPE-USDT-SWAP | +0.0100% | 8h | 93.280 | −0.176% | $114.6M | $317.4M | 50x | as long as short |
| Arcus HYPE-USD | +0.0100% | 1h | 93.320 | −0.133% | $1.2M | $4.0M | 10x | as long as short |
| Bulk HYPE-USD | +0.0100% | 1h | 93.386 | −0.062% | $204K | $12K | 10x | as long as short |
| MEXC HYPE_USDT | +0.0100% | 4h | 93.246 | −0.212% | $92.3M | $81.3M | 100x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 93.251 | −0.207% | $46.2M | $19.6M | 75x | as long as short |
| Bitget HYPEUSDT | +0.0100% | 4h | 93.263 | −0.194% | $226.6M | $103.1M | 75x | as long as short |
| BingX HYPE-USDT | +0.0100% | 4h | 93.260 | −0.197% | — | $54.5M | — | as long as short |
| Backpack HYPE_USDC_PERP | +0.0100% | 1h | 93.286 | −0.169% | $7.9M | $11.7M | 20x | as long as short |
| Variational Omni HYPEshort | +0.0100% | 8h | 93.466 | +0.024% | $28.9M | $50.1M | — | |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 93.411 | −0.035% | $7.5M | $46.8M | 10x | as long as short |
| ApeX Omni HYPEUSDT | +0.0100% | 1h | 93.411 | −0.035% | $406K | $1.1M | 50x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 93.419 | −0.027% | $675K | $2.4M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 93.365 | −0.085% | — | $454K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 93.330 | −0.122% | $503K | $2.6M | 20x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 93.337 | −0.115% | $32K | $1.6M | 20x | as long as short |
| Phemex HYPEUSDT | +0.0100% | 8h | 93.290 | −0.165% | $12.7M | $2.6M | 50x | as long as short |
| Paradex HYPE-USD-PERP | +0.0101% | 8h | 93.361 | −0.088% | $339K | $171K | 20x | as long as short |
| Extended HYPE-USD | +0.0104% | 1h | 93.236 | −0.223% | $18.4M | $41.1M | 50x | as long as short |
| Aevo HYPE-PERP | +0.0104% | 1h | 93.282 | −0.173% | $397K | $318K | 20x | as long as short |
| edgeX HYPEUSDC | +0.0113% | 4h | 93.404 | −0.043% | $5.1M | $29.5M | 30x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0208% | 1h | 93.380 | −0.068% | $4.9M | $5.7M | 50x | as long as short |
| Reya HYPERUSDPERP | +0.0244% | 1h | 93.293 | −0.161% | $77K | $157K | 15x | as long as short |
| Injective HYPE/USDC PERP | +0.0285% | 1h | 93.340 | −0.111% | $30K | $231K | 12x | as long as short |
| Deribit HYPE_USDC-PERPETUAL | +0.0286% | 1h | 93.359 | −0.091% | $7.4M | $4.6M | 50x | as long as short |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0338% / S −0.0165% | 1h | 93.317 | −0.136% | $1.4M | — | 100x | as long as short |
| BloFin HYPE-USDT | +0.0340% | 4h | 93.363 | −0.087% | $17.2M | $12.7M | 75x | as long as short |
| HTX HYPE-USDT | +0.0441% | 4h | 93.450 | +0.006% | $1.5M | $7.6M | 75x | as long as short |
| RISEx HYPE/USDC | +0.0467% | 1h | 93.370 | −0.079% | $2.7M | $6.9M | 20x | as long as short |
| Kraken Futures PF_HYPEUSD | +0.0574% | 1h | 93.388 | −0.060% | $18.7M | $24.8M | 50x | as long as short |
Kalshi KXHYPEPERP
Perpl HYPE
gTrade (Gains Network) HYPE/USD
Aster HYPEUSDT
Bybit HYPEUSDT
Bluefin HYPE-PERP
Derive HYPE-PERP
Orderly PERP_HYPE_USDC
Lighter HYPE
Lighter RH HYPE
Katana Perps HYPE-USD
Nado HYPE-PERP
Hyperliquid HYPE
Pacifica HYPE
Binance HYPEUSDT
OKX HYPE-USDT-SWAP
Arcus HYPE-USD
Bulk HYPE-USD
MEXC HYPE_USDT
KuCoin HYPEUSDTM
Bitget HYPEUSDT
BingX HYPE-USDT
Backpack HYPE_USDC_PERP
GRVT HYPE_USDT_Perp
ApeX Omni HYPEUSDT
StandX HYPE-USD
Vest HYPE-PERP
Polymarket Perps HYPE-USD
SunX HYPE-USDT
Phemex HYPEUSDT
Paradex HYPE-USD-PERP
Extended HYPE-USD
Aevo HYPE-PERP
edgeX HYPEUSDC
Coinbase International HYPE-PERP-INTX
Reya HYPERUSDPERP
Injective HYPE/USDC PERP
Deribit HYPE_USDC-PERPETUAL
GMX HYPE/USD [WBTC.b-USDC]
BloFin HYPE-USDT
HTX HYPE-USDT
RISEx HYPE/USDC
Kraken Futures PF_HYPEUSD