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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
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Alert: spread
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Funding you earn now, next payment 22:00 UTC+0.0185%/8h= +20.2% APRnext payment +$0.23 per $10,000 · paid last 24h +0.057%
Price spread now: Injective against SoDEX−0.103%7-day average +0.182% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on SoDEXShort on Injective
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.652%+$65 on $10k
Price spread, last 3 days (all we have)+0.135%+$14 · spread now −0.103%, 7d avg +0.182%
Together, before fees+0.787%+$79 on $10k · with fees, hour by hour
Funding pays, the price is against you. Injective is 0.284% cheaper against SoDEX than usual: you would sell low and buy high (spread −0.103% now, against its 7-day average of +0.182%). If the spread goes back, that is −$28 on $10k: about 5.1 days of funding at the current rate (+$6 a day). At the pace of the last 3 days (+0.652% in total) that is about 32 hours.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongSoDEX HYPE-USD93.5960.0100pay 0.0013% / 1h26m 37s$2.0M$2.0M10x
ShortInjective HYPE/USDC PERP93.5000.0285get 0.0036% / 1h26m 37s$30K$291K12x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Injective against SoDEX. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$38.78
Price spread: −0.103% → +0.182%
−$28.42
Slippage, 4 orders
no order book: not counted
Fee SoDEX: 4 bp × 2 orders
−$8
Fee Injective: 0.01 bp × 2 orders
−$0.02
Net
$2.34
Costs to cover
0.080%
Break-even
6.6 days
Slippage unknown: SoDEX: live order book, 2 min ago; Injective: live order book, 62 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy SoDEX live order book, 2 min ago0.05 bp7.0 bp −$712.3 bp −$123101.3 bp −$10.1Kdoesn't fit
Sell Injective live order book, 62 min ago36.79 bpdoesn't fitdoesn't fitdoesn't fitdoesn't fit

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−0.1016%1h93.493−0.110%$197K$233K7xas long as short
Aftermath Perps HYPEUSD−0.0279%1h93.540−0.060%$22K$22K10xas long as short
Ondo Perps HYPE-USD.P−0.0243%1h93.570−0.028%$702K$939K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.557−0.042%$3K$33125xas long as short
01 Exchange HYPEUSD−0.0072%1h93.688+0.098%$90K$349K20xas long as short
Bullet HYPE-USD−0.0037%1h93.584−0.013%$112K$583K20xas long as short
Derive HYPE-PERP−0.0009%1h93.553−0.046%$16.4M$7.1M10xas long as short
dYdX HYPE-USD0.0000%1h93.644+0.052%$127K$32K5xas long as short
Perpl HYPE0.0000%43m93.583−0.014%$23K$337K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0001%1h93.631+0.037%$20K—150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster HYPEUSDT+0.0020%4h93.648+0.055%$9.0M$35.8M300xas long as short
Gate HYPE_USDT+0.0032%4h93.653+0.061%$44.0M$56.9M75xas long as short
Bybit HYPEUSDT+0.0036%8h93.627+0.033%$326.1M$287.0M75xas long as short
Orderly PERP_HYPE_USDC+0.0067%4h93.598+0.002%$175K$535K20xas long as short
Phoenix HYPE+0.0068%1h93.590−0.006%$216K$1.2M10xas long as short
Popdex HYPEUSDT+0.0072%1h93.561−0.037%$57K$1.2M50xas long as short
Lighter HYPE+0.0096%1h93.709+0.121%$18.6M$59.6M20xas long as short
Lighter RH HYPE+0.0096%1h93.672+0.081%$3.1M$12.3M20xas long as short
Paradex HYPE-USD-PERP+0.0100%8h93.676+0.086%$340K$170K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.640+0.047%$40K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.559−0.039%$6.0M$44.1M10xas long as short
Hyperliquid HYPE+0.0100%1h93.690+0.100%$2.04B$669.7M10xas long as short
Pacifica HYPE+0.0100%1h93.673+0.082%$10.0M$14.4M20xas long as short
Binance HYPEUSDT+0.0100%4h93.684+0.094%$386.5M$887.6M75xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.626+0.032%$115.0M$315.6M50xas long as short
Arcus HYPE-USD+0.0100%1h93.613+0.018%$1.2M$4.0M10xas long as short
MEXC HYPE_USDT+0.0100%4h93.674+0.083%$93.7M$82.2M100xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.677+0.087%$46.5M$18.7M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.665+0.074%$227.5M$102.2M75xas long as short
BingX HYPE-USDT+0.0100%4h93.650+0.058%—$54.2M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.644+0.051%$7.9M$11.7M20xas long as short
Variational Omni HYPE+0.0100%8h93.541−0.059%$28.9M$49.9M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.580−0.017%$7.5M$45.2M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.558−0.041%$406K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.586−0.011%$677K$2.4M20xas long as short
Vest HYPE-PERP+0.0100%1h93.595−0.001%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.614+0.019%$494K$2.6M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.635+0.042%$76K$168K20xas long as short
SunX HYPE-USDT+0.0100%4h93.601+0.005%$32K$1.6M20xas long as short
SoDEX HYPE-USDlong+0.0100%1h93.596long leg$2.0M$2.0M10x
Phemex HYPEUSDT+0.0100%8h93.601+0.005%$12.8M$2.6M50xas long as short
Bulk HYPE-USD+0.0100%1h93.556−0.042%$204K$12K10xas long as short
Extended HYPE-USD+0.0104%1h93.624+0.030%$18.3M$41.1M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.611+0.016%$398K$318K20xas long as short
edgeX HYPEUSDC+0.0116%4h93.544−0.056%$5.1M$29.6M30xas long as short
Kalshi KXHYPEPERP+0.0127%8h93.658+0.066%$1.9M$5.3M2.3xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0134%1h93.693+0.104%$7.4M$4.6M50xas long as short
Coinbase International HYPE-PERP-INTX+0.0208%1h93.640+0.047%$4.9M$5.7M50xas long as short
Reya HYPERUSDPERP+0.0245%1h93.563−0.035%$78K$158K15xas long as short
Injective HYPE/USDC PERPshort+0.0285%1h93.500−0.103%$30K$291K12x
HTX HYPE-USDT+0.0318%4h93.707+0.119%$1.5M$7.6M75xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0338% / S −0.0164%1h93.624+0.029%$1.4M—100xas long as short
BloFin HYPE-USDT+0.0340%4h93.597+0.001%$17.1M$12.5M75xas long as short
RISEx HYPE/USDC+0.0467%1h93.702+0.113%$2.8M$6.8M20xas long as short
Kraken Futures PF_HYPEUSD+0.0572%1h93.707+0.118%$19.2M$26.0M50xas long as short