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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
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Alert: spread
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Funding you earn now, next payment 22:03 UTC+0.0016%/8h= +1.8% APRpaid last 24h −0.016%
Price spread now: Perpl against Popdex−0.010%7-day average +0.012% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on PopdexShort on Perpl
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.072%−$7 on $10k
Price spread, last 3 days (all we have)+0.282%+$28 · spread now −0.010%, 7d avg +0.012%
Together, before fees+0.210%+ Points / potential airdropPerpl: Active · farm board+$21 on $10k · with fees, hour by hour
Funding pays, the price is against you. Perpl is 0.022% cheaper against Popdex than usual: you would sell low and buy high (spread −0.010% now, against its 7-day average of +0.012%). If the spread goes back, that is −$2 on $10k: about 4.6 days of funding at the current rate ($0 a day). Mind the row above: over the last 3 days funding on this pair cost −0.072%, so the current rate has only just turned in your favour.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPopdex HYPEUSDT93.141−0.0016get 0.0002% / 1h22m 12s$58K$1.2M50x
ShortPerpl HYPE93.1310get 0.0000% / 43m35m 12s$23K$331K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Perpl 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
$3.36
Price spread: −0.010% → +0.012%
−$2.19
Slippage, 4 orders
no order book: not counted
Fee Popdex: 3.2 bp × 2 orders
−$6.4
Fee Perpl: 6.9 bp × 2 orders
−$13.8
Net
−$19.03
Costs to cover
0.202%
Break-even
46.7 days
Slippage unknown: Popdex: live order book, 2 min ago; Perpl: 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
LegHalf-spread$10k$100k$1M$5M
Buy Popdex live order book, 2 min ago1.94 bp5.2 bp −$55.9 bp −$5927.1 bp −$2,713doesn't fit
Sell Perpl no order-book sample—————
Perpl: 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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aftermath Perps HYPEUSD−0.0417%1h93.054−0.093%$22K$22K10xas long as short
Hibachi HYPE/USDT-P−0.0296%1h93.001−0.150%$196K$230K7xas long as short
Arcus HYPE-USD−0.0131%1h93.085−0.060%$1.2M$4.0M10xas long as short
Ondo Perps HYPE-USD.P−0.0127%1h92.940−0.216%$698K$925K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.113−0.030%$3K$33125xas long as short
01 Exchange HYPEUSD−0.0032%1h93.167+0.028%$90K$361K20xas long as short
Popdex HYPEUSDTlong−0.0016%1h93.141long leg$58K$1.2M50x
Aster HYPEUSDT−0.0008%4h93.179+0.041%$8.9M$36.0M300xas long as short
dYdX HYPE-USD0.0000%1h93.096−0.048%$127K$32K5xas long as short
Perpl HYPEshort0.0000%43m93.131−0.010%$23K$331K10x
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0001%1h93.218+0.083%$20K—150xas long as short
Bybit HYPEUSDT+0.0022%8h93.190+0.053%$323.1M$287.3M75xas long as short
Orderly PERP_HYPE_USDC+0.0022%4h93.210+0.074%$172K$518K20xas long as short
Derive HYPE-PERP+0.0029%1h93.150+0.010%$16.3M$7.1M10xas long as short
Phoenix HYPE+0.0034%1h93.030−0.119%$214K$1.2M10xas long as short
Gate HYPE_USDT+0.0052%4h93.207+0.071%$43.9M$58.5M75xas long as short
Bullet HYPE-USD+0.0061%1h93.163+0.023%$111K$580K20xas long as short
MEXC HYPE_USDT+0.0062%4h93.205+0.069%$90.4M$82.2M100xas long as short
Binance HYPEUSDT+0.0064%4h93.203+0.066%$381.7M$895.7M75xas long as short
edgeX HYPEUSDC+0.0074%4h92.953−0.202%$5.0M$29.6M30xas long as short
Lighter HYPE+0.0096%1h93.249+0.116%$18.6M$59.0M20xas long as short
Lighter RH HYPE+0.0096%1h93.232+0.098%$3.1M$12.2M20xas long as short
Aevo HYPE-PERP+0.0096%1h93.227+0.093%$397K$318K20xas long as short
Paradex HYPE-USD-PERP+0.0098%8h93.140−0.001%$338K$170K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.110−0.033%$34K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.141−0.001%$5.9M$44.1M10xas long as short
Hyperliquid HYPE+0.0100%1h93.192+0.055%$2.03B$668.7M10xas long as short
Pacifica HYPE+0.0100%1h93.139−0.002%$10.0M$14.3M20xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.202+0.065%$113.8M$314.5M50xas long as short
Bulk HYPE-USD+0.0100%1h93.030−0.119%$203K$8K10xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.216+0.081%$47.0M$18.8M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.209+0.073%$225.9M$103.2M75xas long as short
BingX HYPE-USDT+0.0100%4h93.196+0.059%—$53.9M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.053−0.094%$7.8M$11.1M20xas long as short
Variational Omni HYPE+0.0100%8h92.933−0.223%$28.9M$50.6M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.008−0.143%$7.5M$45.9M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.016−0.134%$414K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.000−0.151%$673K$2.5M20xas long as short
Vest HYPE-PERP+0.0100%1h93.142+0.001%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.189+0.052%$493K$2.5M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.214+0.078%$76K$167K20xas long as short
SunX HYPE-USDT+0.0100%4h93.159+0.019%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.206+0.070%$2.0M$2.0M10xas long as short
Phemex HYPEUSDT+0.0100%8h93.188+0.050%$12.7M$2.6M50xas long as short
Extended HYPE-USD+0.0104%1h93.187+0.050%$18.3M$42.0M50xas long as short
Kalshi KXHYPEPERP+0.0108%8h93.172+0.033%$1.9M$5.3M2.3xas long as short
Coinbase International HYPE-PERP-INTX+0.0176%1h93.180+0.042%$4.9M$5.7M50xas long as short
Injective HYPE/USDC PERP+0.0239%1h92.880−0.280%$30K$338K12xas long as short
HTX HYPE-USDT+0.0241%4h93.350+0.224%$1.5M$7.7M75xas long as short
Reya HYPERUSDPERP+0.0247%1h93.162+0.022%$77K$159K15xas long as short
BloFin HYPE-USDT+0.0254%4h92.996−0.156%$16.9M$12.5M75xas long as short
RISEx HYPE/USDC+0.0280%1h93.198+0.062%$2.7M$6.8M20xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0339% / S −0.0158%1h93.197+0.061%$1.5M—100xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0447%1h93.303+0.174%$7.4M$4.6M50xas long as short
Kraken Futures PF_HYPEUSD+0.0465%1h93.317+0.189%$20.9M$29.0M50xas long as short