HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0053%/8h= −5.8% APRnext payment −$0.07 per $10,000 · paid last 24h +0.017%

Price spread now: Phoenix against Popdex−0.130%54s7-day average +0.097% · you buy dearer than you sell

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−$180.182% of the position

Long on Popdex Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.117%+$12 on $10k

Price spread, last 7 days+0.276%+$28 · spread now −0.130%, 7d avg +0.097%

Together, before fees+0.393%+$39 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Phoenix is 0.227% cheaper against Popdex than usual: you would sell low and buy high (−$23 if the spread goes back to its 7-day average of +0.097%). Swap the legs. Mind the row above: over the last 4 days funding on this pair paid +0.117%, so the current rate has only just turned against you. The two prices were read 54 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	Popdex HYPEUSDT	92.876	0.0096	pay 0.0012% / 1h	59m 42s	$69K	$1.1M	50x
Short	Phoenix HYPE	92.755	0.0043	get 0.0005% / 1h	59m 42s	$210K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.130%Rate

Funding earned: −$11.09
Price spread: −0.130% → +0.097%: −$22.73
Slippage, 4 orders: −$4.78
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$52
Costs to cover: 0.182%
Break-even: never at this rate

Slippage from Popdex: live order book, 4 min ago; Phoenix: live order book, 3 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 Popdex live order book, 4 min ago	0.05 bp	3.3 bp −$3	3.8 bp −$38	16.3 bp −$1,628	doesn't fit
Sell Phoenix live order book, 3 min ago	1.08 bp	5.6 bp −$6	9.6 bp −$96	133.6 bp −$13.4K	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	92.862	−0.015%	$1.1M	$3.9M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0440%	1h	92.759	−0.126%	$193K	$227K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0280%	1h	92.833	−0.046%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.875	−0.001%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0064%	4h	92.860	−0.017%	$157K	$653K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.865	−0.012%	$127K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.894	+0.019%	$22K	$302K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.907	+0.033%	$62K	—	150x	as long as short
Phemex HYPEUSDT	+0.0029%	8h	92.858	−0.019%	$12.5M	$2.7M	50x	as long as short
Bullet HYPE-USD	+0.0030%	1h	92.843	−0.036%	$112K	$579K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX HYPE-USDT	+0.0036%	4h	92.889	+0.014%	—	$53.6M	—	as long as short
Phoenix HYPEshort	+0.0043%	1h	92.755	−0.130%	$210K	$1.2M	10x
Bybit HYPEUSDT	+0.0045%	8h	92.890	+0.015%	$316.7M	$281.3M	75x	as long as short
Aster HYPEUSDT	+0.0070%	4h	92.904	+0.030%	$8.7M	$36.1M	300x	as long as short
Bitget HYPEUSDT	+0.0086%	4h	92.890	+0.015%	$224.8M	$98.7M	75x	as long as short
edgeX HYPEUSDC	+0.0095%	4h	92.845	−0.033%	$4.9M	$29.6M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0096%	8h	92.896	+0.021%	$339K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.912	+0.039%	$16.1M	$62.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.914	+0.041%	$3.1M	$11.8M	20x	as long as short
Popdex HYPEUSDTlong	+0.0096%	1h	92.876	long leg	$69K	$1.1M	50x
OKX HYPE-USDT-SWAP	+0.0098%	8h	92.914	+0.041%	$113.9M	$303.8M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.880	+0.004%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.885	+0.010%	$7.4M	$45.7M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.935	+0.064%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.917	+0.044%	$373.3M	$902.2M	75x	as long as short
Ondo Perps HYPE-USD.P	+0.0100%	1h	92.850	−0.028%	$698K	$1.1M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.800	−0.082%	$202K	$13K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	92.890	+0.015%	$44.4M	$53.4M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.918	+0.045%	$88.3M	$79.7M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.894	+0.019%	$46.1M	$18.4M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.880	+0.004%	$7.3M	$11.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.859	−0.019%	$28.5M	$57.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.903	+0.029%	$7.5M	$46.3M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.856	−0.022%	$350K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.868	−0.009%	$667K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.923	+0.050%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.910	+0.037%	$469K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.881	+0.005%	$79K	$168K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.843	−0.035%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.863	−0.014%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.883	+0.008%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.019	+0.154%	$1.4M	$6.3M	75x	as long as short
Hyperliquid HYPE	+0.0103%	1h	92.942	+0.071%	$2.02B	$663.7M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.883	+0.007%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.871	−0.005%	$393K	$164K	20x	as long as short
01 Exchange HYPEUSD	+0.0136%	1h	92.909	+0.036%	$87K	$362K	20x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	92.960	+0.090%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.960	+0.090%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0225%	8h	92.896	+0.022%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0263%	1h	92.871	−0.006%	$79K	$131K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0277%	1h	92.967	+0.098%	$7.5M	$4.5M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.864	−0.012%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0331%	1h	92.936	+0.064%	$20.6M	$30.4M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.879	+0.003%	$16.8M	$11.6M	75x	as long as short
RISEx HYPE/USDC	+0.0598%	1h	92.950	+0.080%	$3.2M	$6.4M	20x	as long as short