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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 00:00 UTC−0.0184%/8h= −20.1% APRpaid last 24h −0.050%
Price spread now: Gate against Reya+0.027%7-day average −0.012% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on ReyaShort on Gate
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.027%−$3 on $10k
Price spread, last 3 days (all we have)−0.322%−$32 · spread now +0.027%, 7d avg −0.012%
Together, before fees−0.348%+ Points / potential airdropReya: Active · farm board−$35 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Gate is 0.039% dearer against Reya than usual: you sell high and buy low (spread +0.027% now, against its 7-day average of −0.012%): +$4 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 17 hours. At the pace of the last 3 days (−0.027% in total) that is about 4.6 days.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.027% in total (about -3.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongReya HYPERUSDPERP93.8850.0248pay 0.0031% / 1h56m 46s$77K$142K15x
ShortGate HYPE_USDT93.9110.0064get 0.0032% / 4h56m 46s$44.5M$57.9M75x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Gate against Reya. 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
−$38.6
Price spread: +0.027% → −0.012%
$3.91
Slippage, 4 orders
no order book: not counted
Fee Reya: 3 bp × 2 orders
−$6
Fee Gate: 7.5 bp × 2 orders
−$15
Net
−$55.7
Costs to cover
0.210%
Break-even
never at this rate
Slippage unknown: Reya: no order-book sample; Gate: live order book, 2 min ago. 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 Reya no order-book sample—————
Sell Gate live order book, 2 min ago0.27 bp11.3 bp −$1118.5 bp −$18530.8 bp −$3,07853.3 bp −$26.7K
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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-P−0.0504%1h93.735−0.160%$198K$228K7xas long as short
Aftermath Perps HYPEUSD−0.0486%1h93.638−0.264%$22K$22K10xas long as short
Arcus HYPE-USD−0.0233%1h93.768−0.125%$1.2M$3.8M10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.840−0.048%$3K$33125xas long as short
Ondo Perps HYPE-USD.P−0.0002%1h93.800−0.091%$701K$903K10xas long as short
dYdX HYPE-USD0.0000%1h93.912+0.028%$128K$32K5xas long as short
Perpl HYPE0.0000%43m93.882−0.003%$23K$330K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0002%1h93.922+0.039%$28K—150xas long as short
Orderly PERP_HYPE_USDC+0.0014%4h93.908+0.024%$176K$526K20xas long as short
Bybit HYPEUSDT+0.0018%8h93.900+0.016%$324.8M$280.7M75xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster HYPEUSDT+0.0024%4h93.936+0.054%$8.9M$35.8M300xas long as short
Phoenix HYPE+0.0034%1h93.805−0.085%$215K$1.2M10xas long as short
Derive HYPE-PERP+0.0063%1h93.839−0.049%$16.4M$6.9M10xas long as short
Gate HYPE_USDTshort+0.0064%4h93.911+0.027%$44.5M$57.9M75x
MEXC HYPE_USDT+0.0066%4h93.933+0.051%$90.8M$80.3M100xas long as short
Binance HYPEUSDT+0.0070%4h93.928+0.046%$385.6M$886.0M75xas long as short
Phemex HYPEUSDT+0.0074%8h93.842−0.046%$12.8M$2.6M50xas long as short
edgeX HYPEUSDC+0.0078%4h93.744−0.150%$5.1M$29.6M30xas long as short
Lighter HYPE+0.0096%1h93.966+0.086%$19.0M$58.9M20xas long as short
Lighter RH HYPE+0.0096%1h93.954+0.073%$3.1M$12.2M20xas long as short
01 Exchange HYPEUSD+0.0096%1h93.900+0.016%$91K$355K20xas long as short
Popdex HYPEUSDT+0.0096%1h93.847−0.041%$63K$1.2M50xas long as short
Aevo HYPE-PERP+0.0096%1h93.852−0.035%$399K$318K20xas long as short
Paradex HYPE-USD-PERP+0.0099%8h93.845−0.043%$341K$169K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.830−0.059%$29K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.844−0.043%$5.9M$44.1M10xas long as short
Pacifica HYPE+0.0100%1h93.953+0.072%$10.1M$14.5M20xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.900+0.016%$115.0M$314.5M50xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.919+0.036%$47.2M$18.3M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.918+0.035%$227.6M$102.5M75xas long as short
BingX HYPE-USDT+0.0100%4h93.912+0.029%—$53.9M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.926+0.043%$7.9M$10.4M20xas long as short
Variational Omni HYPE+0.0100%8h93.552−0.355%$30.9M$51.8M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.616−0.287%$7.5M$45.5M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.759−0.134%$393K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.783−0.109%$678K$2.5M20xas long as short
Vest HYPE-PERP+0.0100%1h93.874−0.012%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.911+0.027%$484K$2.5M20xas long as short
Bullet HYPE-USD+0.0100%1h93.888+0.003%$113K$577K20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.903+0.019%$76K$166K20xas long as short
SunX HYPE-USDT+0.0100%4h93.979+0.100%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.904+0.020%$2.0M$2.0M10xas long as short
Bulk HYPE-USD+0.0100%1h93.680−0.219%$205K$7K10xas long as short
Injective HYPE/USDC PERP+0.0104%1h93.750−0.144%$30K$338K12xas long as short
Extended HYPE-USD+0.0104%1h93.896+0.012%$18.6M$42.0M50xas long as short
Kalshi KXHYPEPERP+0.0120%8h93.972+0.092%$1.9M$5.1M2.3xas long as short
Coinbase International HYPE-PERP-INTX+0.0152%1h93.870−0.016%$4.9M$5.7M50xas long as short
HTX HYPE-USDT+0.0221%4h94.082+0.210%$1.5M$7.7M75xas long as short
Reya HYPERUSDPERPlong+0.0248%1h93.885long leg$77K$142K15x
BloFin HYPE-USDT+0.0266%4h93.898+0.014%$17.0M$12.3M75xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0272%1h93.995+0.117%$7.4M$4.5M50xas long as short
RISEx HYPE/USDC+0.0284%1h93.894+0.009%$2.7M$6.8M20xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0340% / S −0.0165%1h93.877−0.009%$1.4M—100xas long as short
Kraken Futures PF_HYPEUSD+0.0577%1h94.020+0.144%$21.0M$29.0M50xas long as short
Hyperliquid HYPE+0.0577%1h93.962+0.082%$2.05B$667.6M10xas long as short