HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0470%/8h= −51.5% APRnext payment −$0.59 per $10,000 · paid last 24h +0.020%

Price spread now: Bluefin against Vest−0.097%51s7-day average +0.002% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Vest Short on Bluefin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.075%+$8 on $10k

Price spread, last 4 days (all we have)+0.116%+$12 · spread now −0.097%, 7d avg +0.002%

Together, before fees+0.191%+ Points / potential airdropVest: Active · farm board+$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Bluefin is 0.100% cheaper against Vest than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.002%). Swap the legs. Mind the row above: over the last 4 days funding on this pair paid +0.075%, so the current rate has only just turned against you. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.075% in total (about 7.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.59 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	Vest HYPE-PERP	94.431	0.0100	pay 0.0013% / 1h	39m 29s	—	$190K	5x
Short	Bluefin HYPE-PERP	94.339	−0.0370	pay 0.0046% / 1h	39m 29s	$80K	$154K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bluefin against Vest. 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 VestbpFee BluefinbpOrdersPrice spread, now −0.097%Rate

Funding earned: −$98.68
Price spread: −0.097% → +0.002%: −$9.95
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: −$117.64
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Vest: no order-book sample; Bluefin: live order book, 65 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 Vest no order-book sample	—	—	—	—	—
Sell Bluefin live order book, 65 min ago	3.63 bp	14.9 bp −$15	doesn't fit	doesn't fit	doesn't fit

Vest: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1536%	1h	94.127	−0.322%	$201K	$252K	7x	as long as short
Bluefin HYPE-PERPshort	−0.0370%	1h	94.339	−0.097%	$80K	$154K	20x
Ondo Perps HYPE-USD.P	−0.0199%	1h	94.210	−0.234%	$712K	$1.2M	10x	as long as short
Bullet HYPE-USD	−0.0171%	1h	94.385	−0.049%	$112K	$576K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0145%	1h	94.442	+0.012%	$22K	$20K	10x	as long as short
01 Exchange HYPEUSD	−0.0112%	1h	94.334	−0.103%	$87K	$366K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.383	−0.051%	$3K	$331	25x	as long as short
Arcus HYPE-USD	−0.0045%	1h	94.271	−0.169%	$1.0M	$3.6M	10x	as long as short
Bybit HYPEUSDT	−0.0015%	8h	94.340	−0.096%	$317.3M	$289.3M	75x	as long as short
Derive HYPE-PERP	−0.0008%	1h	94.322	−0.116%	$16.5M	$7.5M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX HYPE-USD	0.0000%	1h	94.308	−0.131%	$129K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.474	+0.046%	$1.9M	$5.6M	2.3x	as long as short
Phoenix HYPE	0.0000%	1h	94.440	+0.010%	$209K	$1.1M	10x	as long as short
Perpl HYPE	0.0000%	43m	94.367	−0.068%	$19K	$287K	10x	as long as short
Orderly PERP_HYPE_USDC	0.0000%	4h	94.347	−0.089%	$146K	$685K	20x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.410	−0.022%	$123K	—	150x	as long as short
Bitget HYPEUSDT	+0.0038%	4h	94.352	−0.084%	$226.8M	$99.7M	75x	as long as short
Phemex HYPEUSDT	+0.0042%	8h	94.359	−0.076%	$12.9M	$2.9M	50x	as long as short
Lighter HYPE	+0.0048%	1h	94.330	−0.107%	$16.3M	$64.0M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0051%	8h	94.279	−0.161%	$337K	$156K	20x	as long as short
Polymarket Perps HYPE-USD	+0.0062%	1h	94.386	−0.048%	$495K	$2.8M	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0064%	1h	94.460	+0.031%	$4.7M	$6.2M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0081%	8h	94.363	−0.072%	$117.5M	$324.8M	50x	as long as short
edgeX HYPEUSDC	+0.0093%	4h	94.370	−0.064%	$5.0M	$30.6M	30x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.330	−0.107%	$3.2M	$10.8M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.322	−0.115%	$81K	$1.2M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0099%	1h	94.461	+0.032%	$7.4M	$4.3M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.330	−0.107%	$30K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.367	−0.068%	$7.4M	$52.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.452	+0.022%	$2.08B	$687.9M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.309	−0.129%	$8.8M	$37.3M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.300	−0.138%	$10.2M	$15.3M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.322	−0.115%	$378.0M	$933.9M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.280	−0.160%	$218K	$12K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.366	−0.069%	$49.7M	$56.4M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.373	−0.061%	$90.8M	$82.7M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.369	−0.066%	$46.8M	$18.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.268	−0.173%	—	$53.1M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.364	−0.071%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.327	−0.110%	$29.5M	$54.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.408	−0.024%	$7.6M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.340	−0.096%	$369K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.414	−0.018%	$683K	$2.7M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.438	+0.008%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.366	−0.069%	$2.1M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.517	+0.091%	$1.4M	$6.8M	75x	as long as short
Vest HYPE-PERPlong	+0.0100%	1h	94.431	long leg	—	$190K	5x
Extended HYPE-USD	+0.0104%	1h	94.254	−0.188%	$18.3M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.372	−0.062%	$399K	$159K	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0150% / S +0.0021%	1h	94.427	−0.004%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0185%	1h	94.400	−0.033%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0223%	1h	94.434	+0.003%	$20.2M	$30.2M	50x	as long as short
RISEx HYPE/USDC	+0.0249%	1h	94.332	−0.105%	$3.2M	$6.4M	20x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.349	−0.086%	$84K	$124K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.388	−0.045%	$17.1M	$12.4M	75x	as long as short