HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0454%/8h= +49.8% APRnext payment +$0.57 per $10,000 · paid last 24h +0.064%

Price spread now: Kraken Futures against 01 Exchange−0.008%7-day average +0.012% · 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−$35as in the Price arb table

costs, in and out, $10k−$330.326% of the position

Long on 01 Exchange Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.105%+$11 on $10k

Price spread, last 4 days (all we have)−0.046%−$5 · spread now −0.008%, 7d avg +0.012%

Together, before fees+0.060%+$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.012%, so right now this pair is about funding alone: +$14 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 0.105% in total (about 10.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.57 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	01 Exchange HYPEUSD	93.848	−0.0040	get 0.0005% / 1h	58m 19s	$86K	$372K	20x
Short	Kraken Futures PF_HYPEUSD	93.840	0.0414	get 0.0052% / 1h	58m 19s	$20.9M	$29.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against 01 Exchange. 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 01 ExchangebpFee Kraken FuturesbpOrdersPrice spread, now −0.008%Rate

Funding earned: $95.43
Price spread: −0.008% → +0.012%: −$2
Slippage, 4 orders: −$15.65
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $60.79
Costs to cover: 0.326%
Break-even: 2.5 days

Slippage from 01 Exchange: live order book, 51 min ago; Kraken Futures: live order book, 6 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 01 Exchange live order book, 51 min ago	0.37 bp	6.8 bp −$7	14.5 bp −$145	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 6 min ago	1.17 bp	6.7 bp −$7	6.9 bp −$69	13.0 bp −$1,302	47.8 bp −$23.9K

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	−0.1256%	1h	93.851	+0.003%	$200K	$242K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0276%	1h	94.143	+0.315%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.992	+0.153%	$3K	$331	25x	as long as short
01 Exchange HYPEUSDlong	−0.0040%	1h	93.848	long leg	$86K	$372K	20x
Orderly PERP_HYPE_USDC	−0.0016%	4h	93.764	−0.090%	$150K	$680K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.005	+0.167%	$129K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.809	−0.041%	$22K	$285K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.828	−0.021%	$63K	—	150x	as long as short
BingX HYPE-USDT	+0.0014%	4h	93.810	−0.040%	—	$53.7M	—	as long as short
Bybit HYPEUSDT	+0.0018%	8h	93.790	−0.062%	$317.0M	$287.2M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix HYPE	+0.0026%	1h	94.145	+0.316%	$209K	$1.1M	10x	as long as short
Bluefin HYPE-PERP	+0.0027%	1h	93.785	−0.067%	$79K	$166K	20x	as long as short
Bitget HYPEUSDT	+0.0040%	4h	93.787	−0.065%	$226.1M	$99.3M	75x	as long as short
Phemex HYPEUSDT	+0.0054%	8h	93.817	−0.033%	$12.8M	$2.8M	50x	as long as short
edgeX HYPEUSDC	+0.0080%	4h	94.128	+0.298%	$5.0M	$30.5M	30x	as long as short
Arcus HYPE-USD	+0.0084%	1h	93.952	+0.111%	$1.0M	$4.0M	10x	as long as short
SoDEX HYPE-USD	+0.0088%	1h	93.785	−0.067%	$2.0M	$1.9M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0094%	8h	94.023	+0.187%	$342K	$158K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.982	+0.143%	$16.3M	$62.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.996	+0.158%	$3.1M	$11.0M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.893	+0.048%	$78K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.910	+0.066%	$22K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.778	−0.074%	$6.1M	$50.2M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.910	+0.066%	$2.05B	$682.4M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.828	−0.021%	$8.9M	$37.2M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.020	+0.183%	$10.1M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.823	−0.027%	$377.1M	$928.3M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.786	−0.066%	$115.9M	$316.5M	50x	as long as short
Ondo Perps HYPE-USD.P	+0.0100%	1h	93.920	+0.077%	$709K	$1.2M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.213	+0.389%	$217K	$15K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	93.793	−0.059%	$48.3M	$54.6M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.810	−0.040%	$87.9M	$82.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.794	−0.058%	$46.3M	$18.9M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.992	+0.153%	$7.2M	$10.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.028	+0.191%	$28.8M	$56.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.099	+0.267%	$7.7M	$48.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.152	+0.324%	$344K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.969	+0.129%	$681K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.931	+0.088%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.907	+0.063%	$477K	$2.8M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	93.812	−0.038%	$112K	$581K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.782	−0.070%	$16.4M	$7.4M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.888	+0.043%	$32K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.950	+0.109%	$1.4M	$6.7M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.743	−0.112%	$18.3M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.797	−0.054%	$396K	$159K	20x	as long as short
Kalshi KXHYPEPERP	+0.0114%	8h	94.046	+0.211%	$1.8M	$5.6M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	93.830	−0.019%	$4.7M	$6.1M	50x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	93.860	+0.013%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0270%	1h	93.797	−0.054%	$77K	$130K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0315%	1h	93.880	+0.034%	$7.4M	$4.2M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0333% / S −0.0154%	1h	93.835	−0.014%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.949	+0.108%	$17.0M	$12.2M	75x	as long as short
Kraken Futures PF_HYPEUSDshort	+0.0414%	1h	93.840	−0.008%	$20.9M	$29.6M	50x
RISEx HYPE/USDC	+0.0559%	1h	93.978	+0.138%	$3.2M	$6.4M	20x	as long as short