HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0278%/8h= −30.4% APRnext payment −$0.35 per $10,000 · paid last 24h −0.022%

Price spread now: Bullet against Reya−0.009%7-day average +0.035% · you buy dearer than you sell

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

Long on Reya Short on Bullet

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 3 days (all we have)+0.035%+$3 · spread now −0.009%, 7d avg +0.035%

Together, before fees+0.036%+ Points / potential airdropReya: Active · farm board+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Bullet is 0.043% cheaper against Reya than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.035%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.001% in total (about 0.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.35 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	93.704	0.0245	pay 0.0031% / 1h	24m 53s	$78K	$158K	15x
Short	Bullet HYPE-USD	93.696	−0.0033	pay 0.0004% / 1h	24m 53s	$112K	$583K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet 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 BulletbpOrdersPrice spread, now −0.009%Rate

Funding earned: −$58.39
Price spread: −0.009% → +0.035%: −$4.34
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$76.72
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Bullet: live order book, 64 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 Bullet live order book, 64 min ago	0.54 bp	6.3 bp −$6	11.0 bp −$110	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	−0.1000%	1h	93.619	−0.091%	$198K	$233K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0294%	1h	93.602	−0.109%	$22K	$22K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0242%	1h	93.630	−0.079%	$702K	$936K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.557	−0.157%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0072%	1h	93.721	+0.018%	$90K	$349K	20x	as long as short
Bullet HYPE-USDshort	−0.0033%	1h	93.696	−0.009%	$112K	$583K	20x
Derive HYPE-PERP	−0.0009%	1h	93.656	−0.052%	$16.4M	$7.0M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.721	+0.018%	$128K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.718	+0.015%	$23K	$337K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.730	+0.028%	$20K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0024%	4h	93.730	+0.028%	$9.0M	$35.8M	300x	as long as short
Gate HYPE_USDT	+0.0032%	4h	93.744	+0.043%	$44.1M	$57.0M	75x	as long as short
Bybit HYPEUSDT	+0.0037%	8h	93.734	+0.032%	$326.5M	$287.0M	75x	as long as short
Popdex HYPEUSDT	+0.0064%	1h	93.686	−0.019%	$57K	$1.2M	50x	as long as short
Orderly PERP_HYPE_USDC	+0.0066%	4h	93.698	−0.007%	$176K	$535K	20x	as long as short
Phoenix HYPE	+0.0068%	1h	93.742	+0.040%	$216K	$1.2M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.746	+0.044%	$18.6M	$59.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.727	+0.024%	$3.1M	$12.4M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0100%	8h	93.708	+0.004%	$340K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.720	+0.017%	$40K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.702	−0.002%	$6.0M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.784	+0.085%	$2.04B	$670.1M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.709	+0.005%	$10.0M	$14.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.745	+0.044%	$386.7M	$888.1M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.730	+0.028%	$115.1M	$316.0M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.664	−0.043%	$1.2M	$4.0M	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.737	+0.035%	$93.8M	$82.3M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.744	+0.043%	$46.6M	$18.7M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.755	+0.054%	$227.7M	$102.2M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.736	+0.034%	—	$54.2M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.749	+0.048%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.652	−0.056%	$29.0M	$50.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.613	−0.097%	$7.5M	$45.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.545	−0.170%	$406K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.686	−0.019%	$677K	$2.4M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.721	+0.018%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.746	+0.045%	$495K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.713	+0.009%	$76K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.753	+0.052%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.703	−0.001%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.678	−0.028%	$12.8M	$2.6M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.556	−0.158%	$204K	$12K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.738	+0.036%	$18.3M	$41.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.687	−0.019%	$399K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0105%	4h	93.554	−0.160%	$5.1M	$29.5M	30x	as long as short
Kalshi KXHYPEPERP	+0.0135%	8h	93.779	+0.080%	$1.9M	$5.3M	2.3x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0187%	1h	93.805	+0.108%	$7.4M	$4.6M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.720	+0.017%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERPlong	+0.0245%	1h	93.704	long leg	$78K	$158K	15x
Injective HYPE/USDC PERP	+0.0285%	1h	93.610	−0.100%	$30K	$291K	12x	as long as short
HTX HYPE-USDT	+0.0314%	4h	93.886	+0.194%	$1.5M	$7.6M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0164%	1h	93.732	+0.029%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.691	−0.014%	$17.1M	$12.5M	75x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.753	+0.052%	$2.8M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0572%	1h	93.807	+0.109%	$19.2M	$26.0M	50x	as long as short