HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0056%/8h= +6.1% APRnext payment +$0.07 per $10,000 · paid last 24h +0.018%

Price spread now: GMX against Popdex+0.010%7-day average +0.010% · you sell dearer than you buy

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

Long on Popdex Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.073%+$7 on $10k

Price spread, last 4 days (all we have)+0.016%+$2 · spread now +0.010%, 7d avg +0.010%

Together, before fees+0.089%+$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.010%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex HYPEUSDT	94.695	0.0096	pay 0.0012% / 1h	57m 46s	$85K	$1.2M	50x
Short	GMX HYPE/USD [WBTC.b-USDC]	94.705	L +0.0327% / S −0.0152%	get 0.0019% / 1h	57m 46s	$1.4M	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Popdex. 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 PopdexbpFee GMXbpOrdersPrice spread, now +0.010%Rate

Funding earned: $11.73
Price spread: +0.010% → +0.010%: $0.01
Slippage, 4 orders: no order book: not counted
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee GMX: 6 bp × 2 orders: −$12
Net: −$6.67
Costs to cover: 0.184%
Break-even: 11.0 days

Slippage unknown: Popdex: live order book, 1 min ago; GMX: 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 Popdex live order book, 1 min ago	0.85 bp	4.1 bp −$4	5.0 bp −$50	40.7 bp −$4,072	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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 54 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	−0.1472%	1h	94.558	−0.145%	$207K	$268K	7x	as long as short
Phemex HYPEUSDT	−0.0602%	8h	94.659	−0.038%	$12.9M	$2.9M	50x	as long as short
Bluefin HYPE-PERP	−0.0302%	1h	94.672	−0.024%	$80K	$151K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0238%	1h	94.573	−0.129%	$22K	$20K	10x	as long as short
Arcus HYPE-USD	−0.0112%	1h	94.657	−0.040%	$1.0M	$3.5M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.658	−0.039%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0072%	1h	94.726	+0.033%	$87K	$364K	20x	as long as short
Kraken Futures PF_HYPEUSD	−0.0047%	1h	94.698	+0.003%	$20.3M	$30.2M	50x	as long as short
Bybit HYPEUSDT	−0.0045%	8h	94.660	−0.037%	$318.0M	$288.7M	75x	as long as short
Gate HYPE_USDT	−0.0040%	4h	94.650	−0.048%	$50.7M	$53.5M	75x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps HYPE-USD.P	−0.0031%	1h	94.610	−0.090%	$712K	$1.2M	10x	as long as short
Orderly PERP_HYPE_USDC	−0.0007%	4h	94.657	−0.040%	$147K	$686K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.666	−0.031%	$130K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.812	+0.124%	$1.9M	$5.5M	2.3x	as long as short
Phoenix HYPE	0.0000%	1h	94.567	−0.135%	$209K	$1.1M	10x	as long as short
Perpl HYPE	0.0000%	43m	94.669	−0.027%	$19K	$285K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.687	−0.008%	$124K	—	150x	as long as short
Derive HYPE-PERP	+0.0008%	1h	94.543	−0.161%	$16.3M	$7.3M	10x	as long as short
Bitget HYPEUSDT	+0.0014%	4h	94.643	−0.055%	$227.1M	$100.6M	75x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0016%	1h	94.660	−0.037%	$4.7M	$6.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0048%	8h	94.707	+0.012%	$338K	$154K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0063%	8h	94.665	−0.032%	$117.9M	$327.1M	50x	as long as short
Lighter HYPE	+0.0064%	1h	94.660	−0.037%	$16.2M	$61.6M	20x	as long as short
Vest HYPE-PERP	+0.0076%	1h	94.735	+0.042%	—	$190K	5x	as long as short
edgeX HYPEUSDC	+0.0084%	4h	94.460	−0.248%	$5.0M	$30.7M	30x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.672	−0.024%	$3.2M	$10.2M	20x	as long as short
Popdex HYPEUSDTlong	+0.0096%	1h	94.695	long leg	$85K	$1.2M	50x
Nado HYPE-PERP	+0.0100%	1h	94.674	−0.022%	$7.3M	$53.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.758	+0.067%	$2.08B	$689.9M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.651	−0.046%	$8.9M	$37.4M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.683	−0.013%	$10.2M	$14.8M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.659	−0.038%	$379.6M	$934.7M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.685	−0.011%	$219K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.643	−0.055%	$93.5M	$84.5M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.649	−0.049%	$46.9M	$18.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.648	−0.050%	—	$53.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.621	−0.078%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.532	−0.172%	$29.7M	$55.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.577	−0.125%	$7.6M	$44.7M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.461	−0.247%	$350K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.580	−0.121%	$695K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.746	+0.054%	$500K	$2.8M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	94.687	−0.008%	$112K	$575K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.764	+0.073%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.669	−0.027%	$2.1M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.764	+0.073%	$1.4M	$6.9M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.634	−0.064%	$18.4M	$43.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.719	+0.025%	$400K	$153K	20x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	94.709	+0.015%	$3.2M	$6.4M	20x	as long as short
Injective HYPE/USDC PERP	+0.0153%	1h	94.840	+0.153%	$31K	$339K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0246%	1h	94.764	+0.073%	$7.5M	$4.4M	50x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.651	−0.047%	$83K	$121K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]short	L +0.0327% / S −0.0152%	1h	94.705	+0.010%	$1.4M	—	100x
BloFin HYPE-USDT	+0.0340%	4h	94.604	−0.096%	$17.1M	$12.4M	75x	as long as short