HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0288%/8h= −31.5% APRnext payment −$0.36 per $10,000 · paid last 24h −0.018%

Price spread now: Bullet against ApeX Omni−0.324%7-day average +0.016% · 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−$68as in the Price arb table

costs, in and out, $10k−$340.343% of the position

Long on ApeX Omni Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.023%−$2 on $10k

Price spread, last 4 days (all we have)+0.540%+$54 · spread now −0.324%, 7d avg +0.016%

Together, before fees+0.518%+$52 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Bullet is 0.340% cheaper against ApeX Omni than usual: you would sell low and buy high (−$34 if the spread goes back to its 7-day average of +0.016%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.023% in total (about -2.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.36 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	ApeX Omni HYPEUSDT	94.884	0.0100	pay 0.0013% / 1h	40m 43s	$346K	$1.1M	50x
Short	Bullet HYPE-USD	94.577	−0.0188	pay 0.0024% / 1h	40m 43s	$112K	$577K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against ApeX Omni. 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 ApeX OmnibpFee BulletbpOrdersPrice spread, now −0.324%Rate

Funding earned: −$60.48
Price spread: −0.324% → +0.016%: −$33.98
Slippage, 4 orders: −$16.32
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$128.78
Costs to cover: 0.343%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 3 min ago; Bullet: live order book, 58 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 ApeX Omni live order book, 3 min ago	4.32 bp	10.4 bp −$10	13.0 bp −$130	doesn't fit	doesn't fit
Sell Bullet live order book, 58 min ago	0.21 bp	4.7 bp −$5	8.0 bp −$80	doesn't fit	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	−0.1088%	1h	94.601	−0.299%	$207K	$268K	7x	as long as short
Bluefin HYPE-PERP	−0.0631%	1h	94.533	−0.370%	$80K	$149K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0312%	1h	94.798	−0.090%	$22K	$20K	10x	as long as short
Bullet HYPE-USDshort	−0.0188%	1h	94.577	−0.324%	$112K	$577K	20x
Ondo Perps HYPE-USD.P	−0.0139%	1h	94.560	−0.341%	$704K	$1.3M	10x	as long as short
Arcus HYPE-USD	−0.0112%	1h	94.558	−0.344%	$1.0M	$3.5M	10x	as long as short
Gate HYPE_USDT	−0.0082%	4h	94.474	−0.432%	$50.9M	$54.5M	75x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	94.585	−0.315%	$89K	$366K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.906	+0.023%	$3K	$331	25x	as long as short
Kraken Futures PF_HYPEUSD	−0.0047%	1h	94.515	−0.389%	$19.0M	$35.3M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex HYPEUSDT	−0.0014%	8h	94.524	−0.379%	$12.9M	$2.9M	50x	as long as short
Orderly PERP_HYPE_USDC	−0.0007%	4h	94.533	−0.370%	$147K	$685K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.565	−0.336%	$130K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.659	−0.237%	$1.8M	$5.6M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.603	−0.296%	$19K	$286K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	94.558	−0.343%	$95K	—	150x	as long as short
Phoenix HYPE	+0.0008%	1h	94.747	−0.144%	$210K	$1.2M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0016%	1h	94.590	−0.310%	$4.7M	$6.4M	50x	as long as short
Bitget HYPEUSDT	+0.0018%	4h	94.464	−0.443%	$226.8M	$99.8M	75x	as long as short
Derive HYPE-PERP	+0.0045%	1h	94.501	−0.404%	$16.3M	$7.5M	10x	as long as short
Bybit HYPEUSDT	+0.0050%	8h	94.447	−0.461%	$316.9M	$293.9M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0051%	8h	94.601	−0.298%	$338K	$154K	20x	as long as short
Vest HYPE-PERP	+0.0052%	1h	94.670	−0.225%	—	$190K	5x	as long as short
OKX HYPE-USDT-SWAP	+0.0057%	8h	94.451	−0.456%	$117.8M	$328.8M	50x	as long as short
SoDEX HYPE-USD	+0.0064%	1h	94.554	−0.348%	$2.1M	$2.0M	10x	as long as short
Lighter HYPE	+0.0096%	1h	94.485	−0.420%	$16.2M	$62.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.470	−0.436%	$3.2M	$10.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.568	−0.333%	$147K	$1.3M	50x	as long as short
edgeX HYPEUSDC	+0.0096%	4h	94.889	+0.005%	$5.0M	$30.9M	30x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.580	−0.320%	$40K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.573	−0.327%	$7.3M	$52.6M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.587	−0.313%	$2.08B	$694.1M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.451	−0.456%	$9.7M	$37.6M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.505	−0.399%	$10.2M	$14.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.472	−0.434%	$380.4M	$939.7M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.690	−0.204%	$221K	$14K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.530	−0.373%	$93.9M	$85.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.552	−0.350%	$47.1M	$19.1M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.481	−0.425%	—	$53.5M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.502	−0.403%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.549	−0.353%	$30.0M	$56.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.786	−0.103%	$7.7M	$44.7M	10x	as long as short
ApeX Omni HYPEUSDTlong	+0.0100%	1h	94.884	long leg	$346K	$1.1M	50x
StandX HYPE-USD	+0.0100%	1h	94.728	−0.164%	$694K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.657	−0.239%	$499K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.636	−0.261%	$32K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.700	−0.194%	$1.4M	$6.9M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.493	−0.412%	$18.5M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.523	−0.380%	$400K	$153K	20x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	94.618	−0.280%	$3.1M	$6.4M	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0141%	1h	94.646	−0.251%	$7.5M	$4.4M	50x	as long as short
Injective HYPE/USDC PERP	+0.0153%	1h	94.580	−0.320%	$31K	$340K	12x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.554	−0.348%	$83K	$115K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0326% / S −0.0152%	1h	94.720	−0.173%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.492	−0.413%	$17.2M	$12.7M	75x	as long as short