HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0268%/8h= −29.4% APRnext payment −$0.34 per $10,000 · paid last 24h −0.019%

Price spread now: Bullet against SoDEX+0.004%7-day average +0.008% · 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−$28as in the Price arb table

costs, in and out, $10k−$280.278% of the position

Long on SoDEX Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.023%−$2 on $10k

Price spread, last 4 days (all we have)+0.160%+$16 · spread now +0.004%, 7d avg +0.008%

Together, before fees+0.137%+$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.008%, so right now this pair is about funding alone: −$8 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.023% in total (about -2.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.34 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX HYPE-USD	94.895	0.0087	pay 0.0011% / 1h	49m 40s	$2.1M	$1.9M	10x
Short	Bullet HYPE-USD	94.898	−0.0182	pay 0.0023% / 1h	49m 40s	$113K	$576K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against SoDEX. 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 SoDEXbpFee BulletbpOrdersPrice spread, now +0.004%Rate

Funding earned: −$56.31
Price spread: +0.004% → +0.008%: −$0.48
Slippage, 4 orders: −$11.77
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$84.56
Costs to cover: 0.278%
Break-even: never at this rate

Slippage from SoDEX: live order book, 4 min ago; Bullet: live order book, 49 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 SoDEX live order book, 4 min ago	0.21 bp	7.1 bp −$7	13.1 bp −$131	doesn't fit	doesn't fit
Sell Bullet live order book, 49 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	−0.1376%	1h	94.787	−0.114%	$208K	$268K	7x	as long as short
Bluefin HYPE-PERP	−0.0361%	1h	94.867	−0.030%	$80K	$150K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0316%	1h	94.776	−0.126%	$22K	$20K	10x	as long as short
Bullet HYPE-USDshort	−0.0182%	1h	94.898	+0.004%	$113K	$576K	20x
Phemex HYPEUSDT	−0.0141%	8h	94.854	−0.043%	$12.9M	$2.9M	50x	as long as short
Arcus HYPE-USD	−0.0112%	1h	94.732	−0.172%	$1.0M	$3.5M	10x	as long as short
01 Exchange HYPEUSD	−0.0088%	1h	94.776	−0.125%	$89K	$366K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.940	+0.047%	$3K	$331	25x	as long as short
Kraken Futures PF_HYPEUSD	−0.0047%	1h	94.931	+0.038%	$20.3M	$30.3M	50x	as long as short
Ondo Perps HYPE-USD.P	−0.0041%	1h	94.730	−0.174%	$715K	$1.3M	10x	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	−0.0006%	4h	94.892	−0.003%	$148K	$685K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.808	−0.092%	$130K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	95.028	+0.140%	$1.9M	$5.5M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.851	−0.047%	$19K	$285K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	94.859	−0.038%	$85K	—	150x	as long as short
Phoenix HYPE	+0.0008%	1h	94.810	−0.090%	$208K	$1.2M	10x	as long as short
Bitget HYPEUSDT	+0.0012%	4h	94.759	−0.143%	$227.5M	$100.0M	75x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0016%	1h	94.940	+0.047%	$4.7M	$6.2M	50x	as long as short
Derive HYPE-PERP	+0.0022%	1h	94.691	−0.215%	$16.4M	$7.4M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0052%	8h	94.819	−0.080%	$339K	$154K	20x	as long as short
Vest HYPE-PERP	+0.0063%	1h	94.941	+0.048%	—	$190K	5x	as long as short
OKX HYPE-USDT-SWAP	+0.0065%	8h	94.773	−0.129%	$118.4M	$328.7M	50x	as long as short
SoDEX HYPE-USDlong	+0.0087%	1h	94.895	long leg	$2.1M	$1.9M	10x
edgeX HYPEUSDC	+0.0095%	4h	94.791	−0.110%	$5.0M	$30.7M	30x	as long as short
Lighter HYPE	+0.0096%	1h	94.777	−0.125%	$16.3M	$62.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.776	−0.125%	$3.2M	$10.2M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.895	0.000%	$147K	$1.3M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.730	−0.174%	$40K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.875	−0.021%	$7.3M	$52.5M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.864	−0.032%	$2.09B	$691.2M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.825	−0.074%	$9.6M	$37.4M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.823	−0.076%	$10.2M	$14.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.793	−0.107%	$381.4M	$936.4M	75x	as long as short
Bybit HYPEUSDT	+0.0100%	8h	94.790	−0.111%	$317.4M	$291.2M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.685	−0.222%	$219K	$12K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.764	−0.138%	$51.0M	$53.8M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.806	−0.094%	$94.3M	$85.2M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.774	−0.128%	$47.0M	$18.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.785	−0.116%	—	$53.4M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.862	−0.035%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.809	−0.090%	$30.0M	$55.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.848	−0.049%	$7.7M	$44.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.799	−0.101%	$352K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.833	−0.065%	$694K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.962	+0.071%	$501K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	95.022	+0.134%	$33K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.046	+0.159%	$1.4M	$6.9M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.745	−0.158%	$18.5M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.886	−0.010%	$401K	$153K	20x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	94.772	−0.130%	$3.1M	$6.4M	20x	as long as short
Injective HYPE/USDC PERP	+0.0153%	1h	95.060	+0.174%	$31K	$340K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0234%	1h	94.991	+0.101%	$7.5M	$4.3M	50x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.897	+0.002%	$83K	$115K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0327% / S −0.0152%	1h	94.957	+0.065%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.810	−0.090%	$17.2M	$12.5M	75x	as long as short