HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0296%/8h= −32.4% APRnext payment −$0.37 per $10,000 · paid last 24h −0.031%

Price spread now: Popdex against RISEx−0.054%7-day average +0.009% · 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−$21as in the Price arb table

costs, in and out, $10k−$150.149% of the position

Long on RISEx Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.115%−$11 on $10k

Price spread, last 7 days+0.029%+$3 · spread now −0.054%, 7d avg +0.009%

Together, before fees−0.086%−$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Popdex is 0.063% cheaper against RISEx than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.009%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx HYPE/USDC	93.039	0.0280	pay 0.0035% / 1h	27m 12s	$2.8M	$6.8M	20x
Short	Popdex HYPEUSDT	92.989	−0.0016	pay 0.0002% / 1h	27m 12s	$58K	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now −0.054%Rate

Funding earned: −$62.14
Price spread: −0.054% → +0.009%: −$6.31
Slippage, 4 orders: −$2.47
Fee RISEx: 3 bp × 2 orders: −$6
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$83.32
Costs to cover: 0.149%
Break-even: never at this rate

Slippage from RISEx: live order book, 2 min ago; Popdex: live order book, 2 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	0.97 bp	4.0 bp −$4	6.0 bp −$60	doesn't fit	doesn't fit
Sell Popdex live order book, 2 min ago	0.27 bp	3.5 bp −$3	4.3 bp −$43	21.6 bp −$2,160	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
Aftermath Perps HYPEUSD	−0.0396%	1h	93.024	−0.017%	$22K	$22K	10x	as long as short
Hibachi HYPE/USDT-P	−0.0272%	1h	93.055	+0.017%	$197K	$230K	7x	as long as short
Arcus HYPE-USD	−0.0131%	1h	92.947	−0.099%	$1.2M	$4.0M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0121%	1h	93.030	−0.010%	$698K	$927K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.005	−0.037%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0032%	1h	93.008	−0.034%	$90K	$362K	20x	as long as short
Popdex HYPEUSDTshort	−0.0016%	1h	92.989	−0.054%	$58K	$1.2M	50x
Aster HYPEUSDT	−0.0007%	4h	93.024	−0.016%	$8.8M	$36.0M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.019	−0.021%	$127K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.990	−0.053%	$23K	$331K	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.025	−0.015%	$20K	—	150x	as long as short
Bybit HYPEUSDT	+0.0024%	8h	92.974	−0.070%	$322.4M	$287.3M	75x	as long as short
Orderly PERP_HYPE_USDC	+0.0025%	4h	93.029	−0.011%	$172K	$518K	20x	as long as short
Derive HYPE-PERP	+0.0033%	1h	92.990	−0.054%	$16.2M	$7.1M	10x	as long as short
Phoenix HYPE	+0.0034%	1h	93.033	−0.007%	$213K	$1.2M	10x	as long as short
Gate HYPE_USDT	+0.0048%	4h	92.990	−0.053%	$43.8M	$58.5M	75x	as long as short
Bullet HYPE-USD	+0.0057%	1h	93.011	−0.030%	$111K	$580K	20x	as long as short
MEXC HYPE_USDT	+0.0066%	4h	93.005	−0.037%	$90.0M	$81.9M	100x	as long as short
Binance HYPEUSDT	+0.0068%	4h	92.991	−0.052%	$381.5M	$895.3M	75x	as long as short
edgeX HYPEUSDC	+0.0086%	4h	92.948	−0.098%	$5.0M	$29.6M	30x	as long as short
Lighter HYPE	+0.0096%	1h	93.057	+0.019%	$18.5M	$58.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.039	0.000%	$3.1M	$12.2M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.031	−0.009%	$396K	$318K	20x	as long as short
StandX HYPE-USD	+0.0096%	1h	93.000	−0.042%	$673K	$2.5M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0098%	8h	93.005	−0.036%	$338K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.040	+0.001%	$34K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.004	−0.037%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.032	−0.008%	$2.02B	$673.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.024	−0.016%	$10.0M	$14.3M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	92.977	−0.067%	$113.7M	$313.9M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.030	−0.010%	$203K	$8K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.050	+0.011%	$46.9M	$19.0M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.984	−0.059%	$225.3M	$103.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	92.974	−0.070%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.004	−0.038%	$7.8M	$11.1M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.003	−0.039%	$28.9M	$50.6M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.985	−0.058%	$7.5M	$45.9M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.976	−0.068%	$414K	$1.0M	50x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.033	−0.007%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.022	−0.019%	$492K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.045	+0.006%	$76K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.029	−0.011%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.010	−0.032%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.032	−0.008%	$12.7M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.013	−0.028%	$18.2M	$42.1M	50x	as long as short
Kalshi KXHYPEPERP	+0.0110%	8h	93.057	+0.019%	$1.9M	$5.3M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.090	+0.054%	$4.9M	$5.7M	50x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	93.230	+0.205%	$30K	$338K	12x	as long as short
HTX HYPE-USDT	+0.0241%	4h	93.168	+0.138%	$1.5M	$7.7M	75x	as long as short
Reya HYPERUSDPERP	+0.0247%	1h	92.992	−0.051%	$77K	$158K	15x	as long as short
BloFin HYPE-USDT	+0.0273%	4h	93.022	−0.019%	$16.9M	$12.5M	75x	as long as short
RISEx HYPE/USDClong	+0.0280%	1h	93.039	long leg	$2.8M	$6.8M	20x
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0158%	1h	93.029	−0.011%	$1.5M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0405%	1h	93.126	+0.093%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0466%	1h	93.125	+0.092%	$20.8M	$29.0M	50x	as long as short