HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0637%/8h= −69.7% APRnext payment −$0.80 per $10,000 · paid last 24h −0.035%

Price spread now: Bluefin against Reya−0.002%7-day average +0.018% · you buy dearer than you sell

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

Long on Reya Short on Bluefin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.068%−$7 on $10k

Price spread, last 4 days (all we have)−0.169%−$17 · spread now −0.002%, 7d avg +0.018%

Together, before fees−0.237%+ Points / potential airdropReya: Active · farm board−$24 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.018%, so right now this pair is about funding alone: −$19 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.068% in total (about -7.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.80 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya HYPERUSDPERP	94.916	0.0272	pay 0.0034% / 1h	46m 19s	$83K	$115K	15x
Short	Bluefin HYPE-PERP	94.914	−0.0365	pay 0.0046% / 1h	46m 19s	$80K	$150K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bluefin against Reya. 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 ReyabpFee BluefinbpOrdersPrice spread, now −0.002%Rate

Funding earned: −$133.72
Price spread: −0.002% → +0.018%: −$1.95
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: −$148.67
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Bluefin: live order book, 53 min ago. 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 Reya no order-book sample	—	—	—	—	—
Sell Bluefin live order book, 53 min ago	1.75 bp	13.6 bp −$14	doesn't fit	doesn't fit	doesn't fit

Reya: 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.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hibachi HYPE/USDT-P	−0.1248%	1h	94.774	−0.150%	$208K	$268K	7x	as long as short
Bluefin HYPE-PERPshort	−0.0365%	1h	94.914	−0.002%	$80K	$150K	20x
Aftermath Perps HYPEUSD	−0.0310%	1h	94.816	−0.105%	$22K	$20K	10x	as long as short
Phemex HYPEUSDT	−0.0254%	8h	94.821	−0.100%	$12.9M	$2.9M	50x	as long as short
Bullet HYPE-USD	−0.0165%	1h	94.853	−0.066%	$112K	$577K	20x	as long as short
Arcus HYPE-USD	−0.0112%	1h	94.888	−0.029%	$1.0M	$3.5M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.908	−0.008%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0072%	1h	94.954	+0.040%	$89K	$365K	20x	as long as short
Kraken Futures PF_HYPEUSD	−0.0047%	1h	94.832	−0.089%	$19.3M	$34.9M	50x	as long as short
Ondo Perps HYPE-USD.P	−0.0044%	1h	94.900	−0.017%	$707K	$1.3M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_HYPE_USDC	−0.0005%	4h	94.927	+0.012%	$148K	$685K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.913	−0.003%	$130K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.894	−0.023%	$1.8M	$5.6M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.773	−0.151%	$19K	$286K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	94.957	+0.044%	$95K	—	150x	as long as short
Phoenix HYPE	+0.0008%	1h	94.846	−0.074%	$211K	$1.2M	10x	as long as short
Bitget HYPEUSDT	+0.0016%	4h	94.947	+0.033%	$228.0M	$99.9M	75x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0016%	1h	94.870	−0.048%	$4.8M	$6.4M	50x	as long as short
Derive HYPE-PERP	+0.0051%	1h	94.682	−0.246%	$16.4M	$7.4M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0054%	8h	94.930	+0.015%	$339K	$154K	20x	as long as short
Vest HYPE-PERP	+0.0057%	1h	94.986	+0.074%	—	$190K	5x	as long as short
OKX HYPE-USDT-SWAP	+0.0062%	8h	94.935	+0.020%	$118.6M	$329.6M	50x	as long as short
SoDEX HYPE-USD	+0.0065%	1h	94.862	−0.057%	$2.1M	$2.0M	10x	as long as short
edgeX HYPEUSDC	+0.0094%	4h	94.770	−0.154%	$5.0M	$30.8M	30x	as long as short
Lighter HYPE	+0.0096%	1h	94.890	−0.027%	$16.3M	$62.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.891	−0.026%	$3.2M	$10.2M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.919	+0.003%	$148K	$1.3M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.880	−0.038%	$40K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.888	−0.029%	$7.3M	$52.6M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	95.014	+0.103%	$2.09B	$692.5M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.924	+0.009%	$9.6M	$37.4M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.925	+0.010%	$10.2M	$14.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.959	+0.045%	$382.0M	$938.3M	75x	as long as short
Bybit HYPEUSDT	+0.0100%	8h	94.952	+0.038%	$318.2M	$293.0M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.690	−0.238%	$221K	$14K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.922	+0.006%	$51.2M	$54.2M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.938	+0.023%	$94.3M	$85.3M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.945	+0.031%	$47.3M	$19.1M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.931	+0.016%	—	$53.5M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.843	−0.077%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.809	−0.112%	$30.0M	$55.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.757	−0.167%	$7.7M	$44.7M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.688	−0.240%	$351K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.881	−0.037%	$695K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.986	+0.074%	$501K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.942	+0.028%	$33K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.997	+0.086%	$1.4M	$6.9M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.861	−0.057%	$18.5M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.951	+0.037%	$401K	$153K	20x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	94.973	+0.061%	$3.1M	$6.4M	20x	as long as short
Injective HYPE/USDC PERP	+0.0153%	1h	95.170	+0.268%	$31K	$340K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0203%	1h	94.942	+0.028%	$7.5M	$4.4M	50x	as long as short
Reya HYPERUSDPERPlong	+0.0272%	1h	94.916	long leg	$83K	$115K	15x
GMX HYPE/USD [WBTC.b-USDC]	L +0.0327% / S −0.0152%	1h	94.981	+0.069%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.895	−0.022%	$17.2M	$12.7M	75x	as long as short