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Funding arb · Price arb /

HYPE

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 02:00 UTC−0.0028%/8h= −3.1% APRpaid last 24h −0.004%
Price spread now: MEXC against Popdex+0.039%54s7-day average 0.000% · 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—prices read too far apart to compare
costs, in and out, $10k−$110.108% of the position
Long on PopdexShort on MEXC
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.001%$0 on $10k
Price spread, last 7 days−0.029%−$3 · spread now +0.039%, 7d avg 0.000%
Together, before fees−0.028%−$3 on $10k · with fees, hour by hour
The price spread pays, funding is against you. MEXC is 0.039% dearer against Popdex than usual: you sell high and buy low (spread +0.039% now, against its 7-day average of 0.000%): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4.6 days. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPopdex HYPEUSDT93.8220.0096pay 0.0012% / 1h23m 41s$67K$1.2M50x
ShortMEXC HYPE_USDT93.8590.0068get 0.0034% / 4h2h 23m$87.9M$82.9M100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

MEXC against Popdex. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
−$5.88
Price spread: +0.039% → 0.000%
$3.9
Slippage, 4 orders
−$0.42
Fee Popdex: 3.2 bp × 2 orders
−$6.4
Fee MEXC: 2 bp × 2 orders
−$4
Net
−$12.8
Costs to cover
0.108%
Break-even
never at this rate
Slippage from Popdex: live order book, just now; MEXC: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Popdex live order book, just now0.11 bp3.4 bp −$34.1 bp −$4119.4 bp −$1,944doesn't fit
Sell MEXC live order book, 5 min ago0.05 bp2.1 bp −$23.5 bp −$3512.5 bp −$1,24629.2 bp −$14.6K

HYPE on 54 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-P−0.0968%1h93.788−0.036%$197K$229K7xas long as short
Arcus HYPE-USD−0.0786%1h93.729−0.099%$1.2M$3.8M10xas long as short
Aftermath Perps HYPEUSD−0.0132%1h93.791−0.033%$22K$21K10xas long as short
Phemex HYPEUSDT−0.0126%8h93.853+0.033%$12.7M$2.7M50xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.854+0.034%$3K$33125xas long as short
Ondo Perps HYPE-USD.P−0.0078%1h93.850+0.030%$703K$924K10xas long as short
Orderly PERP_HYPE_USDC−0.0056%4h93.817−0.005%$157K$646K20xas long as short
01 Exchange HYPEUSD−0.0048%1h93.838+0.017%$85K$350K20xas long as short
Backpack HYPE_USDC_PERP−0.0038%1h93.855+0.035%$7.8M$10.3M20xas long as short
Gate HYPE_USDT−0.0030%4h93.854+0.034%$44.5M$55.1M75xas long as short
Show all 54 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX HYPE-USDT−0.0002%4h93.823+0.001%—$53.6M—as long as short
Aster HYPEUSDT−0.0002%4h93.873+0.054%$8.9M$35.9M300xas long as short
dYdX HYPE-USD0.0000%1h93.844+0.024%$129K$31K5xas long as short
Perpl HYPE0.0000%43m93.857+0.037%$22K$326K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0003%1h93.879+0.060%$26K—150xas long as short
Bybit HYPEUSDT+0.0005%8h93.841+0.020%$322.2M$281.2M75xas long as short
Phoenix HYPE+0.0060%1h93.904+0.087%$213K$1.2M10xas long as short
MEXC HYPE_USDTshort+0.0068%4h93.859+0.039%$87.9M$82.9M100x
Binance HYPEUSDT+0.0069%4h93.872+0.053%$382.1M$892.8M75xas long as short
OKX HYPE-USDT-SWAP+0.0069%8h93.850+0.030%$115.3M$308.3M50xas long as short
Bullet HYPE-USD+0.0076%1h93.855+0.035%$112K$578K20xas long as short
edgeX HYPEUSDC+0.0079%4h93.907+0.090%$5.1M$29.9M30xas long as short
Paradex HYPE-USD-PERP+0.0095%8h93.897+0.080%$341K$164K20xas long as short
Lighter HYPE+0.0096%1h93.886+0.069%$16.4M$62.6M20xas long as short
Lighter RH HYPE+0.0096%1h93.873+0.054%$3.1M$11.9M20xas long as short
Popdex HYPEUSDTlong+0.0096%1h93.822long leg$67K$1.2M50x
Aevo HYPE-PERP+0.0096%1h93.850+0.030%$399K$175K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.860+0.041%$21K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.862+0.042%$5.7M$45.1M10xas long as short
Hyperliquid HYPE+0.0100%1h93.965+0.152%$2.05B$665.5M10xas long as short
Pacifica HYPE+0.0100%1h93.887+0.069%$10.1M$14.7M20xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.893+0.076%$46.5M$18.1M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.843+0.022%$227.4M$98.5M75xas long as short
Variational Omni HYPE+0.0100%8h93.910+0.093%$31.1M$54.7M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.889+0.071%$7.6M$47.5M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.834+0.013%$339K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.876+0.058%$670K$2.6M20xas long as short
Vest HYPE-PERP+0.0100%1h93.910+0.094%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.894+0.077%$474K$2.4M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.820−0.002%$79K$171K20xas long as short
Derive HYPE-PERP+0.0100%1h93.8220.000%$16.3M$7.7M10xas long as short
SunX HYPE-USDT+0.0100%4h93.921+0.106%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.850+0.030%$2.0M$1.9M10xas long as short
Bulk HYPE-USD+0.0100%1h93.880+0.062%$204K$10K10xas long as short
Extended HYPE-USD+0.0104%1h93.811−0.012%$18.3M$44.2M50xas long as short
Coinbase International HYPE-PERP-INTX+0.0136%1h93.940+0.126%$4.9M$5.5M50xas long as short
Injective HYPE/USDC PERP+0.0137%1h93.760−0.066%$30K$339K12xas long as short
HTX HYPE-USDT+0.0208%4h93.976+0.164%$1.4M$5.9M75xas long as short
RISEx HYPE/USDC+0.0210%1h93.910+0.094%$3.2M$7.0M20xas long as short
Reya HYPERUSDPERP+0.0255%1h93.860+0.041%$80K$140K15xas long as short
Kalshi KXHYPEPERP+0.0275%8h93.921+0.106%$1.9M$4.9M2.3xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0332% / S −0.0156%1h93.873+0.055%$1.4M—100xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0410%1h93.944+0.130%$7.5M$4.5M50xas long as short
Kraken Futures PF_HYPEUSD+0.0679%1h93.935+0.120%$21.0M$29.8M50xas long as short