HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0074%/8h= −8.1% APRnext payment −$0.09 per $10,000 · paid last 24h +0.012%

Price spread now: Phoenix against SoDEX−0.018%70s7-day average +0.083% · 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—prices read too far apart to compare

costs, in and out, $10k−$260.257% of the position

Long on SoDEX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.098%+$10 on $10k

Price spread, last 4 days (all we have)+0.144%+$14 · spread now −0.018%, 7d avg +0.083%

Together, before fees+0.242%+$24 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Phoenix is 0.101% cheaper against SoDEX than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.083%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.098%, so the current rate has only just turned against you. The two prices were read 70 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX HYPE-USD	93.563	0.0100	pay 0.0013% / 1h	55m 37s	$2.0M	$1.9M	10x
Short	Phoenix HYPE	93.546	0.0026	get 0.0003% / 1h	55m 37s	$209K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.018%Rate

Funding earned: −$15.58
Price spread: −0.018% → +0.083%: −$10.1
Slippage, 4 orders: −$10.73
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$51.4
Costs to cover: 0.257%
Break-even: never at this rate

Slippage from SoDEX: live order book, 3 min ago; Phoenix: 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 SoDEX live order book, 3 min ago	0.38 bp	6.8 bp −$7	13.3 bp −$133	doesn't fit	doesn't fit
Sell Phoenix live order book, 2 min ago	1.28 bp	5.9 bp −$6	9.2 bp −$92	135.4 bp −$13.5K	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	−0.1896%	1h	93.498	−0.070%	$197K	$232K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0364%	1h	93.451	−0.120%	$22K	$21K	10x	as long as short
Bullet HYPE-USD	−0.0131%	1h	93.513	−0.053%	$112K	$578K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.530	−0.035%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0040%	1h	93.442	−0.129%	$87K	$365K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0037%	4h	93.554	−0.010%	$146K	$663K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.530	−0.035%	$128K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.556	−0.008%	$22K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.576	+0.013%	$62K	—	150x	as long as short
Arcus HYPE-USD	+0.0011%	1h	93.413	−0.160%	$1.0M	$3.9M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps HYPE-USD.P	+0.0014%	1h	93.540	−0.025%	$705K	$1.2M	10x	as long as short
Phemex HYPEUSDT	+0.0020%	8h	93.499	−0.068%	$12.6M	$2.7M	50x	as long as short
Bitget HYPEUSDT	+0.0022%	4h	93.434	−0.138%	$226.1M	$99.1M	75x	as long as short
Bybit HYPEUSDT	+0.0026%	8h	93.434	−0.138%	$317.8M	$283.6M	75x	as long as short
Phoenix HYPEshort	+0.0026%	1h	93.546	−0.018%	$209K	$1.2M	10x
Bluefin HYPE-PERP	+0.0092%	1h	93.553	−0.011%	$79K	$167K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	93.489	−0.079%	$340K	$162K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.481	−0.087%	$16.1M	$62.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.522	−0.044%	$3.1M	$11.4M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.427	−0.145%	$76K	$1.1M	50x	as long as short
Gate HYPE_USDT	+0.0096%	4h	93.440	−0.131%	$46.3M	$53.8M	75x	as long as short
edgeX HYPEUSDC	+0.0097%	4h	93.351	−0.227%	$5.0M	$29.9M	30x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.440	−0.131%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.544	−0.020%	$7.0M	$47.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.566	+0.003%	$2.04B	$667.2M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.498	−0.070%	$8.7M	$36.4M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.499	−0.068%	$10.1M	$15.3M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.482	−0.087%	$374.9M	$910.4M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.431	−0.141%	$114.9M	$308.1M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.328	−0.251%	$203K	$3K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.468	−0.102%	$92.2M	$80.0M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.527	−0.038%	$46.2M	$18.5M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.442	−0.129%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.578	+0.016%	$7.3M	$11.1M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.529	−0.037%	$28.7M	$56.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.423	−0.150%	$7.5M	$47.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.617	+0.058%	$343K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.612	+0.052%	$669K	$2.9M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.585	+0.023%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.548	−0.016%	$490K	$2.7M	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.544	−0.021%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.549	−0.015%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USDlong	+0.0100%	1h	93.563	long leg	$2.0M	$1.9M	10x
HTX HYPE-USDT	+0.0100%	4h	93.800	+0.253%	$1.4M	$6.4M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.411	−0.162%	$18.1M	$43.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.566	+0.003%	$396K	$161K	20x	as long as short
Injective HYPE/USDC PERP	+0.0122%	1h	93.410	−0.164%	$30K	$339K	12x	as long as short
Kalshi KXHYPEPERP	+0.0137%	8h	93.633	+0.075%	$1.8M	$5.6M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.720	+0.168%	$4.8M	$5.6M	50x	as long as short
Reya HYPERUSDPERP	+0.0267%	1h	93.508	−0.059%	$80K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0154%	1h	93.558	−0.006%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.642	+0.084%	$16.9M	$11.9M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0340%	1h	93.618	+0.059%	$20.9M	$29.6M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0391%	1h	93.649	+0.092%	$7.5M	$4.0M	50x	as long as short
RISEx HYPE/USDC	+0.0527%	1h	93.504	−0.063%	$3.2M	$6.3M	20x	as long as short