Funding you earn now, next payment 22:00 UTC−0.0145%/8h= −15.9% APRpaid last 24h −0.016%
Price spread now: Phemex against Reya+0.060%7-day average +0.036% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)+0.007%+$1 on $10k
+Price spread, last 3 days (all we have)−0.117%−$12 · spread now +0.060%, 7d avg +0.036%
=Together, before fees−0.110%+ Points / potential airdropReya: Active · farm board−$11 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Phemex is 0.024% dearer against Reya than usual: you sell high and buy low (spread +0.060% now, against its 7-day average of +0.036%): +$2 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 13 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Reya HYPERUSDPERP | 93.619 | 0.0245 | pay 0.0031% / 1h | 20m 34s | $78K | $158K | 15x |
| Short | Phemex HYPEUSDT | 93.675 | 0.0100 | get 0.0100% / 8h | 2h 20m | $12.8M | $2.6M | 50x |
Reya HYPERUSDPERP
Phemex HYPEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Reya. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$30.54
- Price spread: +0.060% → +0.036%
- $2.41
- Slippage, 4 orders
- no order book: not counted
- Fee Reya: 3 bp × 2 orders
- −$6
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$46.13
- Costs to cover
- 0.180%
- Break-even
- never at this rate
Slippage unknown: Reya: no order-book sample; Phemex: live order book, 3 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 Phemex live order book, 3 min ago | 3.10 bp | 17.5 bp −$18 | 34.8 bp −$348 | 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 | −0.1008% | 1h | 93.647 | +0.029% | $198K | $233K | 7x | as long as short |
| Aftermath Perps HYPEUSD | −0.0288% | 1h | 93.668 | +0.053% | $22K | $22K | 10x | as long as short |
| Ondo Perps HYPE-USD.P | −0.0232% | 1h | 93.550 | −0.074% | $703K | $934K | 10x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 93.631 | +0.013% | $3K | $331 | 25x | as long as short |
| 01 Exchange HYPEUSD | −0.0064% | 1h | 93.634 | +0.016% | $90K | $344K | 20x | as long as short |
| Derive HYPE-PERP | −0.0021% | 1h | 93.590 | −0.031% | $16.4M | $7.0M | 10x | as long as short |
| Bullet HYPE-USD | −0.0020% | 1h | 93.621 | +0.002% | $112K | $583K | 20x | as long as short |
| dYdX HYPE-USD | 0.0000% | 1h | 93.721 | +0.109% | $128K | $32K | 5x | as long as short |
| Perpl HYPE | 0.0000% | 43m | 93.661 | +0.045% | $23K | $337K | 10x | as long as short |
| gTrade (Gains Network) HYPE/USD | L +0.0002% / S −0.0001% | 1h | 93.670 | +0.054% | $20K | — | 150x | as long as short |
Hibachi HYPE/USDT-P
Aftermath Perps HYPEUSD
Ondo Perps HYPE-USD.P
Hotstuff HYPE-PERP
01 Exchange HYPEUSD
Derive HYPE-PERP
Bullet HYPE-USD
dYdX HYPE-USD
Perpl HYPE
gTrade (Gains Network) HYPE/USDShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster HYPEUSDT | +0.0026% | 4h | 93.620 | +0.001% | $9.0M | $35.8M | 300x | as long as short |
| Gate HYPE_USDT | +0.0032% | 4h | 93.614 | −0.005% | $44.1M | $57.1M | 75x | as long as short |
| Bybit HYPEUSDT | +0.0036% | 8h | 93.610 | −0.010% | $326.0M | $287.1M | 75x | as long as short |
| Popdex HYPEUSDT | +0.0056% | 1h | 93.604 | −0.016% | $59K | $1.2M | 50x | as long as short |
| Orderly PERP_HYPE_USDC | +0.0062% | 4h | 93.619 | 0.000% | $175K | $536K | 20x | as long as short |
| Phoenix HYPE | +0.0068% | 1h | 93.733 | +0.122% | $216K | $1.2M | 10x | as long as short |
| Lighter HYPE | +0.0096% | 1h | 93.657 | +0.040% | $18.6M | $59.6M | 20x | as long as short |
| Lighter RH HYPE | +0.0096% | 1h | 93.648 | +0.031% | $3.1M | $12.4M | 20x | as long as short |
| Paradex HYPE-USD-PERP | +0.0100% | 8h | 93.631 | +0.013% | $340K | $170K | 20x | as long as short |
| Katana Perps HYPE-USD | +0.0100% | 8h | 93.640 | +0.022% | $37K | $1.6M | 10x | as long as short |
| Nado HYPE-PERP | +0.0100% | 1h | 93.665 | +0.049% | $6.0M | $44.1M | 10x | as long as short |
| Hyperliquid HYPE | +0.0100% | 1h | 93.730 | +0.119% | $2.04B | $670.1M | 10x | as long as short |
| Pacifica HYPE | +0.0100% | 1h | 93.661 | +0.045% | $10.0M | $14.4M | 20x | as long as short |
| Binance HYPEUSDT | +0.0100% | 4h | 93.599 | −0.021% | $386.2M | $888.9M | 75x | as long as short |
| OKX HYPE-USDT-SWAP | +0.0100% | 8h | 93.605 | −0.015% | $115.0M | $316.0M | 50x | as long as short |
| Arcus HYPE-USD | +0.0100% | 1h | 93.591 | −0.030% | $1.2M | $4.0M | 10x | as long as short |
| Bulk HYPE-USD | +0.0100% | 1h | 93.690 | +0.075% | $205K | $12K | 10x | as long as short |
| MEXC HYPE_USDT | +0.0100% | 4h | 93.620 | +0.001% | $93.7M | $82.3M | 100x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 93.639 | +0.021% | $46.5M | $18.7M | 75x | as long as short |
| Bitget HYPEUSDT | +0.0100% | 4h | 93.628 | +0.010% | $227.4M | $102.3M | 75x | as long as short |
| BingX HYPE-USDT | +0.0100% | 4h | 93.621 | +0.002% | — | $54.3M | — | as long as short |
| Backpack HYPE_USDC_PERP | +0.0100% | 1h | 93.648 | +0.031% | $7.9M | $11.7M | 20x | as long as short |
| Variational Omni HYPE | +0.0100% | 8h | 93.652 | +0.035% | $29.0M | $50.0M | — | as long as short |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 93.753 | +0.143% | $7.5M | $45.3M | 10x | as long as short |
| ApeX Omni HYPEUSDT | +0.0100% | 1h | 93.664 | +0.048% | $407K | $1.0M | 50x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 93.704 | +0.091% | $677K | $2.5M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 93.715 | +0.102% | — | $454K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 93.712 | +0.099% | $495K | $2.6M | 20x | as long as short |
| Bluefin HYPE-PERP | +0.0100% | 1h | 93.644 | +0.027% | $76K | $168K | 20x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 93.744 | +0.134% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 93.621 | +0.002% | $2.0M | $2.0M | 10x | as long as short |
| Phemex HYPEUSDTshort | +0.0100% | 8h | 93.675 | +0.060% | $12.8M | $2.6M | 50x | |
| Deribit HYPE_USDC-PERPETUAL | +0.0102% | 1h | 93.730 | +0.119% | $7.4M | $4.6M | 50x | as long as short |
| Extended HYPE-USD | +0.0104% | 1h | 93.594 | −0.027% | $18.3M | $41.2M | 50x | as long as short |
| Aevo HYPE-PERP | +0.0104% | 1h | 93.644 | +0.027% | $398K | $318K | 20x | as long as short |
| edgeX HYPEUSDC | +0.0106% | 4h | 93.684 | +0.069% | $5.1M | $29.7M | 30x | as long as short |
| Kalshi KXHYPEPERP | +0.0128% | 8h | 93.747 | +0.137% | $1.9M | $5.3M | 2.3x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0208% | 1h | 93.700 | +0.087% | $4.9M | $5.7M | 50x | as long as short |
| Reya HYPERUSDPERPlong | +0.0245% | 1h | 93.619 | long leg | $78K | $158K | 15x | |
| Injective HYPE/USDC PERP | +0.0285% | 1h | 93.600 | −0.020% | $30K | $291K | 12x | as long as short |
| HTX HYPE-USDT | +0.0306% | 4h | 93.825 | +0.220% | $1.5M | $7.6M | 75x | as long as short |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0338% / S −0.0164% | 1h | 93.682 | +0.067% | $1.4M | — | 100x | as long as short |
| BloFin HYPE-USDT | +0.0340% | 4h | 93.613 | −0.006% | $17.0M | $12.5M | 75x | as long as short |
| RISEx HYPE/USDC | +0.0467% | 1h | 93.671 | +0.055% | $2.7M | $6.8M | 20x | as long as short |
| Kraken Futures PF_HYPEUSD | +0.0572% | 1h | 93.757 | +0.147% | $19.2M | $26.0M | 50x | as long as short |
Aster HYPEUSDT
Gate HYPE_USDT
Bybit HYPEUSDT
Popdex HYPEUSDT
Orderly PERP_HYPE_USDC
Phoenix HYPE
Lighter HYPE
Lighter RH HYPE
Paradex HYPE-USD-PERP
Katana Perps HYPE-USD
Nado HYPE-PERP
Hyperliquid HYPE
Pacifica HYPE
Binance HYPEUSDT
OKX HYPE-USDT-SWAP
Arcus HYPE-USD
Bulk HYPE-USD
MEXC HYPE_USDT
KuCoin HYPEUSDTM
Bitget HYPEUSDT
BingX HYPE-USDT
Backpack HYPE_USDC_PERP
Variational Omni HYPE
GRVT HYPE_USDT_Perp
ApeX Omni HYPEUSDT
StandX HYPE-USD
Vest HYPE-PERP
Polymarket Perps HYPE-USD
Bluefin HYPE-PERP
SunX HYPE-USDT
SoDEX HYPE-USD
Deribit HYPE_USDC-PERPETUAL
Extended HYPE-USD
Aevo HYPE-PERP
edgeX HYPEUSDC
Kalshi KXHYPEPERP
Coinbase International HYPE-PERP-INTX
Injective HYPE/USDC PERP
HTX HYPE-USDT
GMX HYPE/USD [WBTC.b-USDC]
BloFin HYPE-USDT
RISEx HYPE/USDC
Kraken Futures PF_HYPEUSD