HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0282%/8h= −30.9% APRnext payment −$0.35 per $10,000 · paid last 24h −0.090%

Price spread now: Bullet against RISEx−0.075%7-day average 0.000% · 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−$28as in the Price arb table

costs, in and out, $10k−$210.210% of the position

Long on RISEx Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.164%−$16 on $10k

Price spread, last 4 days (all we have)+1.288%+$129 · spread now −0.075%, 7d avg 0.000%

Together, before fees+1.124%+$112 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 0.075% cheaper against RISEx than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of 0.000%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx HYPE/USDC	94.889	0.0133	pay 0.0017% / 1h	52m 02s	$3.2M	$6.4M	20x
Short	Bullet HYPE-USD	94.818	−0.0149	pay 0.0019% / 1h	52m 02s	$112K	$576K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against RISEx. 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 RISExbpFee BulletbpOrdersPrice spread, now −0.075%Rate

Funding earned: −$59.19
Price spread: −0.075% → 0.000%: −$7.5
Slippage, 4 orders: −$6.98
Fee RISEx: 3 bp × 2 orders: −$6
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$87.67
Costs to cover: 0.210%
Break-even: never at this rate

Slippage from RISEx: live order book, 2 min ago; Bullet: live order book, 47 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 RISEx live order book, 2 min ago	0.74 bp	3.8 bp −$4	6.7 bp −$67	doesn't fit	doesn't fit
Sell Bullet live order book, 47 min ago	0.21 bp	4.7 bp −$5	8.0 bp −$80	doesn't fit	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
Hibachi HYPE/USDT-P	−0.1432%	1h	94.783	−0.112%	$208K	$267K	7x	as long as short
Phemex HYPEUSDT	−0.0429%	8h	94.781	−0.114%	$12.9M	$2.9M	50x	as long as short
Bluefin HYPE-PERP	−0.0323%	1h	94.789	−0.106%	$80K	$150K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0320%	1h	94.714	−0.185%	$22K	$20K	10x	as long as short
Bullet HYPE-USDshort	−0.0149%	1h	94.818	−0.075%	$112K	$576K	20x
Arcus HYPE-USD	−0.0112%	1h	94.825	−0.068%	$1.0M	$3.5M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.756	−0.141%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0074%	1h	94.810	−0.084%	$714K	$1.2M	10x	as long as short
01 Exchange HYPEUSD	−0.0072%	1h	94.869	−0.022%	$88K	$364K	20x	as long as short
Kraken Futures PF_HYPEUSD	−0.0047%	1h	94.847	−0.045%	$20.3M	$30.3M	50x	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	−0.0007%	4h	94.791	−0.104%	$147K	$685K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.808	−0.086%	$130K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.899	+0.010%	$1.9M	$5.5M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.846	−0.046%	$19K	$285K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.763	−0.134%	$124K	—	150x	as long as short
Phoenix HYPE	+0.0008%	1h	94.810	−0.084%	$208K	$1.2M	10x	as long as short
Bitget HYPEUSDT	+0.0012%	4h	94.805	−0.089%	$227.4M	$99.6M	75x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0016%	1h	94.880	−0.010%	$4.7M	$6.2M	50x	as long as short
Derive HYPE-PERP	+0.0022%	1h	94.691	−0.209%	$16.4M	$7.4M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0051%	8h	94.873	−0.018%	$339K	$154K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0064%	8h	94.821	−0.072%	$118.2M	$327.7M	50x	as long as short
Bybit HYPEUSDT	+0.0067%	8h	94.830	−0.063%	$317.9M	$288.9M	75x	as long as short
Vest HYPE-PERP	+0.0069%	1h	94.911	+0.023%	—	$190K	5x	as long as short
Lighter HYPE	+0.0080%	1h	94.818	−0.076%	$16.3M	$61.8M	20x	as long as short
edgeX HYPEUSDC	+0.0083%	4h	94.539	−0.370%	$5.0M	$30.7M	30x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.821	−0.072%	$3.2M	$10.2M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.853	−0.038%	$144K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.840	−0.052%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.840	−0.052%	$7.3M	$52.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.924	+0.036%	$2.09B	$688.4M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.810	−0.084%	$9.6M	$37.4M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.869	−0.022%	$10.2M	$14.8M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.820	−0.073%	$380.8M	$934.3M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.685	−0.216%	$219K	$12K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.808	−0.086%	$51.0M	$53.7M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.826	−0.067%	$93.9M	$84.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.795	−0.100%	$46.9M	$18.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.817	−0.076%	—	$53.4M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.795	−0.100%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.549	−0.358%	$29.9M	$55.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.656	−0.246%	$7.6M	$44.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.534	−0.375%	$351K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.821	−0.072%	$694K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.922	+0.034%	$501K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.905	+0.016%	$33K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.807	−0.087%	$2.1M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.972	+0.087%	$1.4M	$6.9M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.778	−0.118%	$18.4M	$43.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.830	−0.063%	$401K	$153K	20x	as long as short
RISEx HYPE/USDClong	+0.0133%	1h	94.889	long leg	$3.2M	$6.4M	20x
Injective HYPE/USDC PERP	+0.0153%	1h	94.950	+0.064%	$31K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.803	−0.091%	$83K	$118K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0277%	1h	94.894	+0.005%	$7.5M	$4.3M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0327% / S −0.0152%	1h	94.881	−0.009%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.800	−0.094%	$17.2M	$12.5M	75x	as long as short