HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0043%/8h= −4.7% APRnext payment −$0.05 per $10,000 · paid last 24h −0.045%

Price spread now: 01 Exchange against Phoenix+0.177%7-day average −0.056% · 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−$3as in the Price arb table

costs, in and out, $10k−$260.263% of the position

Long on Phoenix Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.149%−$15 on $10k

Price spread, last 4 days (all we have)+0.017%+$2 · spread now +0.177%, 7d avg −0.056%

Together, before fees−0.132%−$13 on $10k · with fees, hour by hour

The price spread pays, funding is against you. 01 Exchange is 0.233% dearer against Phoenix than usual: you sell high and buy low (spread +0.177% now, against its 7-day average of −0.056%): +$23 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 18 days. At the pace of the last 4 days (−0.149% in total) that is about 5.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix HYPE	92.755	0.0043	pay 0.0005% / 1h	0m 50s	$210K	$1.2M	10x
Short	01 Exchange HYPEUSD	92.919	0	get 0.0000% / 1h	0m 50s	$86K	$361K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now +0.177%Rate

Funding earned: −$9.07
Price spread: +0.177% → −0.056%: $23.28
Slippage, 4 orders: −$12.28
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$12.08
Costs to cover: 0.263%
Break-even: never at this rate

Slippage from Phoenix: live order book, 2 min ago; 01 Exchange: live order book, 58 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	1.08 bp	5.6 bp −$6	10.5 bp −$105	doesn't fit	doesn't fit
Sell 01 Exchange live order book, 58 min ago	0.05 bp	7.1 bp −$7	11.1 bp −$111	doesn't fit	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
Arcus HYPE-USD	−0.0948%	1h	92.859	+0.112%	$1.1M	$3.9M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0424%	1h	92.753	−0.003%	$194K	$225K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0277%	1h	92.822	+0.072%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.875	+0.129%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0063%	4h	92.856	+0.109%	$157K	$653K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.865	+0.118%	$127K	$29K	5x	as long as short
01 Exchange HYPEUSDshort	0.0000%	1h	92.919	+0.177%	$86K	$361K	20x
Perpl HYPE	0.0000%	43m	92.890	+0.146%	$22K	$302K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.898	+0.154%	$62K	—	150x	as long as short
Phemex HYPEUSDT	+0.0026%	8h	92.875	+0.129%	$12.5M	$2.7M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet HYPE-USD	+0.0031%	1h	92.850	+0.103%	$111K	$579K	20x	as long as short
BingX HYPE-USDT	+0.0036%	4h	92.859	+0.112%	—	$53.5M	—	as long as short
Ondo Perps HYPE-USD.P	+0.0042%	1h	92.810	+0.059%	$698K	$1.1M	10x	as long as short
Phoenix HYPElong	+0.0043%	1h	92.755	long leg	$210K	$1.2M	10x
Bybit HYPEUSDT	+0.0045%	8h	92.860	+0.113%	$316.7M	$281.2M	75x	as long as short
Aster HYPEUSDT	+0.0068%	4h	92.897	+0.153%	$8.7M	$36.1M	300x	as long as short
Bitget HYPEUSDT	+0.0088%	4h	92.883	+0.138%	$224.8M	$98.7M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	92.901	+0.157%	$339K	$163K	20x	as long as short
edgeX HYPEUSDC	+0.0095%	4h	92.845	+0.097%	$4.9M	$29.6M	30x	as long as short
Lighter HYPE	+0.0096%	1h	92.891	+0.147%	$16.1M	$62.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.901	+0.157%	$3.1M	$11.8M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.903	+0.160%	$69K	$1.1M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0098%	8h	92.865	+0.119%	$113.9M	$303.6M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.880	+0.135%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.864	+0.118%	$7.4M	$45.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.904	+0.161%	$2.02B	$663.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.910	+0.167%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.885	+0.140%	$373.2M	$902.0M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.800	+0.049%	$202K	$13K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	92.872	+0.126%	$44.5M	$55.5M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.888	+0.143%	$88.3M	$81.2M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.880	+0.135%	$46.1M	$18.4M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.893	+0.149%	$7.3M	$11.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.859	+0.112%	$28.5M	$57.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.903	+0.160%	$7.5M	$46.3M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.856	+0.109%	$350K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.868	+0.122%	$667K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.919	+0.177%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.916	+0.174%	$469K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.871	+0.125%	$79K	$168K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.842	+0.093%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.882	+0.137%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.893	+0.149%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.016	+0.281%	$1.4M	$6.3M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.855	+0.108%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.863	+0.116%	$393K	$164K	20x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	92.960	+0.221%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.950	+0.210%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0225%	8h	92.939	+0.198%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0263%	1h	92.874	+0.128%	$79K	$131K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0310%	1h	92.965	+0.226%	$7.5M	$4.5M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.867	+0.120%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0331%	1h	92.937	+0.196%	$20.6M	$30.4M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.879	+0.134%	$16.8M	$11.6M	75x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.962	+0.223%	$3.2M	$6.4M	20x	as long as short