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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+0.0296%/8h= +32.4% APRnext payment +$0.37 per $10,000 · paid last 24h −0.026%
Price spread now: Kraken Futures against RISEx+0.133%7-day average +0.020% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$10as in the Price arb table
costs, in and out, $10k−$210.212% of the position
Long on RISExShort on Kraken Futures
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.080%−$8 on $10k
Price spread, last 3 days (all we have)−0.119%−$12 · spread now +0.133%, 7d avg +0.020%
Together, before fees−0.200%−$20 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Kraken Futures is 0.113% dearer against RISEx than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.020%. Mind the row above: over the last 3 days funding on this pair cost −0.080%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.080% in total (about -8.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.37 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongRISEx HYPE/USDC93.4830.0284pay 0.0036% / 1h25m 38s$2.8M$6.9M20x
ShortKraken Futures PF_HYPEUSD93.6080.0580get 0.0072% / 1h25m 38s$20.9M$29.5M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kraken Futures 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

Funding earned
$62.06
Price spread: +0.133% → +0.020%
$11.33
Slippage, 4 orders
−$5.16
Fee RISEx: 3 bp × 2 orders
−$6
Fee Kraken Futures: 5 bp × 2 orders
−$10
Net
$52.23
Costs to cover
0.212%
Break-even
1.1 days
Slippage from RISEx: live order book, 3 min ago; Kraken Futures: live order book, 3 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy RISEx live order book, 3 min ago0.59 bp3.6 bp −$45.6 bp −$56doesn't fitdoesn't fit
Sell Kraken Futures live order book, 3 min ago0.05 bp7.4 bp −$77.7 bp −$7714.1 bp −$1,41258.2 bp −$29.1K

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−0.0904%1h93.545+0.066%$198K$229K7xas long as short
Aftermath Perps HYPEUSD−0.0376%1h93.683+0.214%$22K$22K10xas long as short
Arcus HYPE-USD−0.0233%1h93.354−0.138%$1.2M$3.8M10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.496+0.014%$3K$33125xas long as short
Ondo Perps HYPE-USD.P−0.0078%1h93.440−0.046%$703K$909K10xas long as short
01 Exchange HYPEUSD−0.0048%1h93.427−0.060%$86K$366K20xas long as short
Derive HYPE-PERP−0.0017%1h93.462−0.023%$16.3M$7.1M10xas long as short
dYdX HYPE-USD0.0000%1h93.492+0.010%$127K$30K5xas long as short
Perpl HYPE0.0000%43m93.577+0.101%$23K$329K10xas long as short
Orderly PERP_HYPE_USDC+0.0002%4h93.540+0.061%$166K$583K20xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0003%1h93.554+0.076%$26K—150xas long as short
Phoenix HYPE+0.0009%1h93.687+0.218%$214K$1.2M10xas long as short
Aster HYPEUSDT+0.0011%4h93.465−0.019%$8.9M$36.0M300xas long as short
Bybit HYPEUSDT+0.0018%8h93.449−0.036%$321.1M$283.3M75xas long as short
Binance HYPEUSDT+0.0052%4h93.454−0.031%$381.9M$895.9M75xas long as short
MEXC HYPE_USDT+0.0054%4h93.442−0.044%$87.6M$81.8M100xas long as short
edgeX HYPEUSDC+0.0064%4h93.635+0.163%$5.1M$29.7M30xas long as short
Phemex HYPEUSDT+0.0070%8h93.537+0.058%$12.7M$2.6M50xas long as short
Gate HYPE_USDT+0.0078%4h93.436−0.050%$43.9M$59.5M75xas long as short
Popdex HYPEUSDT+0.0088%1h93.455−0.030%$59K$1.2M50xas long as short
Bullet HYPE-USD+0.0090%1h93.531+0.051%$113K$577K20xas long as short
Lighter HYPE+0.0096%1h93.501+0.019%$18.8M$60.1M20xas long as short
Lighter RH HYPE+0.0096%1h93.458−0.027%$3.0M$12.3M20xas long as short
Aevo HYPE-PERP+0.0096%1h93.527+0.047%$398K$318K20xas long as short
Paradex HYPE-USD-PERP+0.0099%8h93.488+0.005%$340K$171K20xas long as short
Katana Perps HYPE-USD+0.0099%8h93.440−0.046%$43K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.507+0.026%$5.7M$44.4M10xas long as short
Pacifica HYPE+0.0100%1h93.485+0.002%$10.1M$14.5M20xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.457−0.028%$115.1M$320.0M50xas long as short
Bulk HYPE-USD+0.0100%1h93.625+0.152%$204K$7K10xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.507+0.026%$46.3M$18.6M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.449−0.036%$226.4M$102.6M75xas long as short
BingX HYPE-USDT+0.0100%4h93.451−0.034%—$54.1M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.521+0.041%$7.8M$10.5M20xas long as short
Variational Omni HYPE+0.0100%8h93.574+0.098%$31.2M$54.0M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.619+0.145%$7.6M$45.1M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.646+0.174%$346K$1.1M50xas long as short
StandX HYPE-USD+0.0100%1h93.611+0.137%$677K$2.5M20xas long as short
Vest HYPE-PERP+0.0100%1h93.603+0.129%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.560+0.082%$490K$2.4M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.510+0.029%$76K$171K20xas long as short
SunX HYPE-USDT+0.0100%4h93.567+0.090%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.511+0.030%$2.0M$2.0M10xas long as short
Injective HYPE/USDC PERP+0.0104%1h94.410+0.992%$31K$338K12xas long as short
Extended HYPE-USD+0.0104%1h93.419−0.069%$18.3M$42.8M50xas long as short
Kalshi KXHYPEPERP+0.0132%8h93.660+0.189%$1.9M$5.0M2.3xas long as short
Coinbase International HYPE-PERP-INTX+0.0152%1h93.550+0.072%$4.9M$5.7M50xas long as short
Hyperliquid HYPE+0.0199%1h93.502+0.020%$2.03B$676.9M10xas long as short
HTX HYPE-USDT+0.0211%4h93.712+0.245%$1.5M$7.8M75xas long as short
BloFin HYPE-USDT+0.0229%4h93.600+0.125%$17.1M$12.6M75xas long as short
Reya HYPERUSDPERP+0.0249%1h93.529+0.049%$77K$142K15xas long as short
RISEx HYPE/USDClong+0.0284%1h93.483long leg$2.8M$6.9M20x
GMX HYPE/USD [WBTC.b-USDC]L +0.0337% / S −0.0163%1h93.549+0.071%$1.4M—100xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0381%1h93.619+0.145%$7.4M$4.6M50xas long as short
Kraken Futures PF_HYPEUSDshort+0.0580%1h93.608+0.133%$20.9M$29.5M50x