Funding you earn now, next payment 00:00 UTC−0.0066%/8h= −7.2% APRpaid last 24h +0.016%
Price spread now: Phoenix against Variational Omni+0.223%7-day average +0.131% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)+0.108%+$11 on $10k
+Price spread, last 7 days−0.089%−$9 · spread now +0.223%, 7d avg +0.131%
=Together, before fees+0.019%+ Points / potential airdropVariational Omni: Active · farm board+$2 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Phoenix is 0.092% dearer against Variational Omni than usual: you sell high and buy low (spread +0.223% now, against its 7-day average of +0.131%): +$9 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4.6 days. Mind the row above: over the last 3 days funding on this pair paid +0.108%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Variational Omni HYPE | 93.939 | 0.0100 | pay 0.0100% / 8h | 7h 19m | $31.4M | $54.1M | — |
| Short | Phoenix HYPE | 94.149 | 0.0034 | get 0.0004% / 1h | 19m 07s | $219K | $1.2M | 10x |
Variational Omni HYPE
Phoenix HYPEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Variational Omni. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$13.86
- Price spread: +0.223% → +0.131%
- $9.18
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$11.68
- Costs to cover
- 0.070%
- Break-even
- from the start
Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Phoenix: live order book, 4 min ago. Net counts fees only.
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 Variational Omni RFQ quote, 5 min ago | 0.45 bp | doesn't fit | 4.5 bp −$45 | 21.0 bp −$2,100 | doesn't fit |
| Sell Phoenix live order book, 4 min ago | 1.06 bp | 5.6 bp −$6 | 9.9 bp −$99 | 108.8 bp −$10.9K | 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 | −0.1312% | 1h | 93.756 | −0.195% | $198K | $228K | 7x | as long as short |
| Arcus HYPE-USD | −0.0625% | 1h | 93.675 | −0.282% | $1.2M | $3.8M | 10x | as long as short |
| Aftermath Perps HYPEUSD | −0.0194% | 1h | 94.033 | +0.100% | $22K | $21K | 10x | as long as short |
| Ondo Perps HYPE-USD.P | −0.0153% | 1h | 93.910 | −0.031% | $710K | $959K | 10x | as long as short |
| dYdX HYPE-USD | −0.0111% | 1h | 93.863 | −0.081% | $129K | $31K | 5x | as long as short |
| Bullet HYPE-USD | −0.0100% | 1h | 93.644 | −0.315% | $112K | $581K | 20x | as long as short |
| 01 Exchange HYPEUSD | −0.0088% | 1h | 93.769 | −0.181% | $86K | $360K | 20x | as long as short |
| Gate HYPE_USDT | −0.0082% | 4h | 93.526 | −0.440% | $44.3M | $60.0M | 75x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 93.782 | −0.168% | $3K | $331 | 25x | as long as short |
| Bybit HYPEUSDT | −0.0029% | 8h | 93.530 | −0.436% | $321.3M | $280.4M | 75x | as long as short |
Hibachi HYPE/USDT-P
Arcus HYPE-USD
Aftermath Perps HYPEUSD
Ondo Perps HYPE-USD.P
dYdX HYPE-USD
Bullet HYPE-USD
01 Exchange HYPEUSD
Gate HYPE_USDT
Hotstuff HYPE-PERP
Bybit HYPEUSDTShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_HYPE_USDC | −0.0025% | 4h | 93.609 | −0.352% | $159K | $645K | 20x | as long as short |
| Phemex HYPEUSDT | −0.0017% | 8h | 93.548 | −0.417% | $12.7M | $2.6M | 50x | as long as short |
| Perpl HYPE | 0.0000% | 43m | 93.769 | −0.181% | $23K | $326K | 10x | as long as short |
| gTrade (Gains Network) HYPE/USD | L +0.0002% / S −0.0003% | 1h | 93.683 | −0.273% | $27K | — | 150x | as long as short |
| Aster HYPEUSDT | +0.0007% | 4h | 93.666 | −0.292% | $8.9M | $36.1M | 300x | as long as short |
| Derive HYPE-PERP | +0.0011% | 1h | 93.575 | −0.388% | $16.4M | $7.3M | 10x | as long as short |
| Phoenix HYPEshort | +0.0034% | 1h | 94.149 | +0.223% | $219K | $1.2M | 10x | |
| Binance HYPEUSDT | +0.0045% | 4h | 93.529 | −0.437% | $381.5M | $894.2M | 75x | as long as short |
| MEXC HYPE_USDT | +0.0048% | 4h | 93.538 | −0.427% | $87.8M | $83.0M | 100x | as long as short |
| edgeX HYPEUSDC | +0.0057% | 4h | 93.961 | +0.023% | $5.1M | $30.0M | 30x | as long as short |
| OKX HYPE-USDT-SWAP | +0.0074% | 8h | 93.527 | −0.439% | $115.5M | $316.3M | 50x | as long as short |
| Bluefin HYPE-PERP | +0.0085% | 1h | 93.617 | −0.343% | $76K | $170K | 20x | as long as short |
| Lighter HYPE | +0.0096% | 1h | 93.611 | −0.350% | $19.1M | $60.0M | 20x | as long as short |
| Lighter RH HYPE | +0.0096% | 1h | 93.607 | −0.354% | $3.0M | $12.2M | 20x | as long as short |
| Popdex HYPEUSDT | +0.0096% | 1h | 93.793 | −0.156% | $64K | $1.2M | 50x | as long as short |
| Aevo HYPE-PERP | +0.0096% | 1h | 93.584 | −0.378% | $398K | $180K | 20x | as long as short |
| Paradex HYPE-USD-PERP | +0.0099% | 8h | 93.794 | −0.155% | $341K | $165K | 20x | as long as short |
| Katana Perps HYPE-USD | +0.0100% | 8h | 93.800 | −0.148% | $20K | $1.6M | 10x | as long as short |
| Nado HYPE-PERP | +0.0100% | 1h | 93.757 | −0.195% | $6.6M | $44.8M | 10x | as long as short |
| Hyperliquid HYPE | +0.0100% | 1h | 93.590 | −0.372% | $2.04B | $675.1M | 10x | as long as short |
| Pacifica HYPE | +0.0100% | 1h | 93.786 | −0.163% | $10.2M | $14.6M | 20x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 93.525 | −0.441% | $46.5M | $18.3M | 75x | as long as short |
| Bitget HYPEUSDT | +0.0100% | 4h | 93.536 | −0.430% | $226.8M | $101.0M | 75x | as long as short |
| BingX HYPE-USDT | +0.0100% | 4h | 93.524 | −0.442% | — | $54.0M | — | as long as short |
| Backpack HYPE_USDC_PERP | +0.0100% | 1h | 93.522 | −0.444% | $7.7M | $10.3M | 20x | as long as short |
| Variational Omni HYPElong | +0.0100% | 8h | 93.939 | long leg | $31.4M | $54.1M | — | |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 93.991 | +0.055% | $7.6M | $46.1M | 10x | as long as short |
| ApeX Omni HYPEUSDT | +0.0100% | 1h | 93.940 | +0.001% | $340K | $1.1M | 50x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 93.838 | −0.108% | $679K | $2.6M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 93.847 | −0.099% | — | $243K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 93.793 | −0.156% | $480K | $2.5M | 20x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 93.687 | −0.269% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 93.561 | −0.403% | $2.0M | $2.0M | 10x | as long as short |
| Bulk HYPE-USD | +0.0100% | 1h | 94.151 | +0.225% | $205K | $2K | 10x | as long as short |
| Extended HYPE-USD | +0.0104% | 1h | 93.596 | −0.365% | $18.8M | $44.5M | 50x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0144% | 1h | 93.660 | −0.298% | $4.9M | $5.5M | 50x | as long as short |
| BloFin HYPE-USDT | +0.0179% | 4h | 93.552 | −0.412% | $17.0M | $12.1M | 75x | as long as short |
| Injective HYPE/USDC PERP | +0.0205% | 1h | 94.490 | +0.586% | $31K | $338K | 12x | as long as short |
| RISEx HYPE/USDC | +0.0222% | 1h | 93.822 | −0.125% | $2.7M | $6.8M | 20x | as long as short |
| Kalshi KXHYPEPERP | +0.0227% | 8h | 93.641 | −0.318% | $1.9M | $5.1M | 2.3x | as long as short |
| Reya HYPERUSDPERP | +0.0252% | 1h | 93.754 | −0.198% | $79K | $142K | 15x | as long as short |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0333% / S −0.0155% | 1h | 93.676 | −0.280% | $1.4M | — | 100x | as long as short |
| HTX HYPE-USDT | +0.0374% | 4h | 93.750 | −0.202% | $1.5M | $6.1M | 75x | as long as short |
| Deribit HYPE_USDC-PERPETUAL | +0.0401% | 1h | 93.711 | −0.243% | $7.4M | $4.6M | 50x | as long as short |
| Kraken Futures PF_HYPEUSD | +0.0674% | 1h | 93.648 | −0.310% | $20.9M | $29.8M | 50x | as long as short |
Orderly PERP_HYPE_USDC
Phemex HYPEUSDT
Perpl HYPE
gTrade (Gains Network) HYPE/USD
Aster HYPEUSDT
Derive HYPE-PERP
Binance HYPEUSDT
MEXC HYPE_USDT
edgeX HYPEUSDC
OKX HYPE-USDT-SWAP
Bluefin HYPE-PERP
Lighter HYPE
Lighter RH HYPE
Popdex HYPEUSDT
Aevo HYPE-PERP
Paradex HYPE-USD-PERP
Katana Perps HYPE-USD
Nado HYPE-PERP
Hyperliquid HYPE
Pacifica HYPE
KuCoin HYPEUSDTM
Bitget HYPEUSDT
BingX HYPE-USDT
Backpack HYPE_USDC_PERP
GRVT HYPE_USDT_Perp
ApeX Omni HYPEUSDT
StandX HYPE-USD
Vest HYPE-PERP
Polymarket Perps HYPE-USD
SunX HYPE-USDT
SoDEX HYPE-USD
Bulk HYPE-USD
Extended HYPE-USD
Coinbase International HYPE-PERP-INTX
BloFin HYPE-USDT
Injective HYPE/USDC PERP
RISEx HYPE/USDC
Kalshi KXHYPEPERP
Reya HYPERUSDPERP
GMX HYPE/USD [WBTC.b-USDC]
HTX HYPE-USDT
Deribit HYPE_USDC-PERPETUAL
Kraken Futures PF_HYPEUSD